Specified Collection Account definition

Specified Collection Account means the Blocked Account of Quantum maintained at PNC (Account No. 8026359325).
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Specified Collection Account means a deposit account of the U.S. Borrower specified in writing by the U.S. Borrower to the Agent as the “Specified Collection Account” upon execution of a control agreement with respect thereto.
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Examples of Specified Collection Account in a sentence

  • All payments made by a Loan Party’s Customers remitted directly to Agent will be deposited by Agent in the Specified Collection Account, and all Customer remittances shall be treated as a repayment of Advances.

  • No funds shall be deposited to the Specified Collection Account other than proceeds of sales of Specified Aircraft and Specified Engines.

  • The Grantors shall utilize the proceeds of each withdrawal from the Specified Collection Account in accordance with the Approved Budget (subject to variances permitted pursuant to Section 6.11 of the Credit Agreement).

  • For each bank account that any Grantor at any time opens or maintains (other than any Excluded Account, any Specified Collection Account and the CIBC Cash Collateral Account (as such capitalized terms are defined in the Credit Agreement)), such Grantor shall cause the bank to enter into a Control Agreement with such Grantor and the Attorney.

  • Except as set forth in Section 2.14 and Section 9.03, and except for payments made from the Concentration Account or any Specified Collection Account, the Administrative Agent will promptly distribute to each Lender its Applicable Percentage in respect of the relevant Facility (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office.

  • For each bank account that any Fibrek Grantor at any time opens or maintains (other than any Excluded Account, any Specified Collection Account and the CIBC Cash Collateral Account (as such capitalized terms are defined in the Credit Agreement)), such Fibrek Grantor shall cause the bank to enter into a Control Agreement with such Fibrek Grantor and the Attorney.

  • Subject to Section 2.14, Section 9.03, and payments made from the Concentration Account or any Specified Collection Account, the Administrative Agent will promptly distribute to each Lender its Applicable Percentage in respect of the relevant Facility (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such ▇▇▇▇▇▇’s Lending Office.

  • For each bank account that any Grantor at any time opens or maintains (other than any Excluded Account, any Specified Collection Account and the CIBC Cash Collateral Account), such Grantor shall cause the bank to enter into a Control Agreement with such Grantor and the Collateral Agent.

  • For each Deposit Account (or any other demand, time, savings, passbook or similar account whose jurisdiction (determined in accordance with Section 9-304 of the UCC) is within a State of the United States) that any Grantor at any time opens or maintains (other than any Excluded Account and any Specified Collection Account), such Grantor shall cause the depositary bank to enter into a Control Agreement with such Grantor and the Collateral Agent.