Examples of Receiving Accounts in a sentence
Pledgors have also established certain receiving accounts with Bankers, each of which is described on Schedule I attached hereto (the "Receiving Accounts") and certain lock box accounts with certain commercial banks (each of which such bank is referred to herein as a "Depository Bank"), each of which is described on Schedule I attached hereto (the "Lock Box Accounts").
The totality of NUEVATEL's income received in the Hoarding Accounts, will be transferred automatically to the Receiving Accounts and managed by the Receiving Accounts Operator until covering the assigned flows and others described in this Contract, in such a way that the management of the above-mentioned resources is isolated from the influence of the Originator, its creditors and of the Securitization Company.
The Investment Trust is the proprietor of the monthly income, considering as the accrual period that described in Section 2.21 of Article Two, to be credited to the Receiving Accounts, up to the amount programmed for each month in accordance with the terms of this Contract.
The foregoing notwithstanding, if such default or breach is cured or remedied or shown to be non-existent within the aforesaid ninety (90) day period, the notice shall be automatically withdrawn and of no effect.
The names and addresses of each Receiving Bank, together with the account numbers of the Receiving Accounts of the Borrower at each Receiving Bank and the post office box number of each Lock-Box, are listed on Exhibit III to the Receivables Sale Agreement.
It is the financial institution in charge of managing the Receivable Accounts according to the terms of this Contract and the "Contract for the Management of the Receiving Accounts and the Resources Assigned to the NUEVATEL - BDP SC 049 Investment Trust".
The names and addresses of all Receiving Banks, together with the account numbers of the Receiving Accounts of Originator at each Receiving Bank and the post office box number of each Lock-Box, are listed on Exhibit IV.
In a semiannual way, an External Auditor will certify that for the Receiving Accounts have entered the totality of NUEVATEL's income received in the Hoarding Accounts.
The procedure of collection and transfer of resources of the Receiving Accounts, is regulated in the " Contract for the Management of the Receiving Accounts and the Resources Assigned to the NUEVATEL - BDP SC 049 Investment Trust" and described in Article Fourth Section 4.3 of the present Contract.
Once the amounts established in the present Contract are reached and transferred to the Collection Accounts, the resources that are deposited in the Receiving Accounts correspond to the Originator and will have to be transferred to NUEVATEL's Administrative Accounts.