Sweep Account definition

Sweep Account. The subsidiary Account for each Participant through which all transactions are processed, which is invested in interest bearing deposits of the Trustee.

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Sweep Account. Each deposit account or other account into which any payments made by Account Debtor directly related to the Purchased Receivable are collected, remitted or deposited and which is listed on Schedule 3 hereto, as such Schedule 3 may be amended or updated from time to time.

Sweep Account has the meaning assigned to such term in Section 15.1.

Examples of Sweep Account in a sentence

If such funds are nevertheless deposited into any Sweep Account or Collection Account, such Originator (or the Servicer on its behalf) will within two (2) Business Days identify and transfer such funds to the appropriate Person entitled to such funds.
Such Originator shall only terminate a Collection Account Bank or close a Sweep Account or Collection Account (or a related Lock-Box) with the prior written consent of the Administrative Agent.
Such Originator shall not permit funds other than Collections on (i) Pool Receivables and other Supporting Assets to be deposited into any Collection Account and (ii) the Government-Pay Health Care Receivables originated by it to be deposited into its Sweep Account.
Such Originator shall ensure that no disbursements are made from any Sweep Account or Collection Account, other than such disbursements that are made for the account of the Buyer or, with respect to a Collection Account, at the direction of the Buyer.
Each Sweep Account is in the name of the Originator who originated the Receivables into which Sweep Account collections thereof are to be made, and such Originator owns and has good and marketable title to such Sweep Account free and clear of any Adverse Claim.

More Definitions of Sweep Account

Sweep Account means each account listed on a supplemental Schedule II-B to this Agreement (as may be further modified from time to time in connection with the closing or opening of any Sweep Account in accordance with the terms hereof) (in each case, in the name of an Originator) for the purpose of receiving Collections on Government-Pay Health Care Receivables.

Sweep Account means an account with and controlled by Administrative Agent for the benefit of the Lenders into which all Excess Cash Flow shall be transferred in accordance with Section 8.5(b).

Sweep Account means the Account identified in the Application for Investment Sweep Services (as defined in Part II Subparts J and K) or Line of Credit Sweep Services (as defined in Part II, Subpart L).

Sweep Account means any account or accounts of Borrowers established with Lender pursuant to the Sweep Account Agreement, now or in the future.

Sweep Account shall have the meaning specified in SECTION 4.1(a).

Sweep Account has the meaning set forth in Section 6.

Sweep Account means the Deposit Account of the Seller (account number ▇▇▇▇▇▇▇▇, ABA ▇▇▇▇▇▇▇▇▇, Reference: Equistar Receivables II, LLC/A/R Sweep) maintained with Citibank at its office at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇ ▇▇▇▇▇, or such other account as the Seller and the Agent may agree.