UK Collection Account definition

UK Collection Account means the account of JohnsonDiversey UK Limited number 11289969, sort code 18-50-08 held with the UK Collection Account Bank or such other account as the parties may designate in writing from time to time.

UK Collection Account means each Collection Account maintained in the name of the Seller, so long as such Collection Account is subject to English law.

UK Collection Account has the meaning provided in Section 6.12.

Examples of UK Collection Account in a sentence

• After the execution of this Deed, the Buyer or the Agent shall deliver to the UK Collection Account Bank a Notice of Trust and Charge and the Originator shall countersign such Notice of Trust and Charge.

• If any payments relating to Receivables are remitted directly to it or any of its Affiliates, it will remit (or will cause all such payments to be remitted) directly to the Collection Bank and deposited into the UK Collection Account within two Business Days following receipt thereof and, at all times prior to such remittance, it will itself hold or, if applicable, will cause such payments to be held in trust for the exclusive benefit of the Buyer and its assigns.

• It will cause (A) all Collections to be directly deposited into the UK Collection Account and (B) the UK Collection Account to be subject at all times to the Deed of Trust and Charge that is in full force and effect.

• Each UK Guarantor shall instruct all Account Debtors of such UK Guarantor to remit all payments on Accounts to the applicable UK post office box or other lockbox address (or equivalent arrangements) of the applicable UK Collection Bank with respect to all Accounts of such Account Debtor, which remittances shall be collected by the applicable UK Collection Bank and deposited in the applicable UK Collection Account.

• Any Interest which accrues on the balance for the time being standing to the credit of the UK Collection Account shall be credited to the UK Collection Account.

More Definitions of UK Collection Account

UK Collection Account means each account established at a UK Collection Bank subject to a Control Agreement into which funds shall be transferred as provided in Section 2.15(a)(ii).

UK Collection Account shall have the meaning ascribed to it in the Deed of Trust and Charge.

UK Collection Account means the “Originator Collection Account” as defined in Clause 12.1 of the UK Receivables Purchase Agreement.

UK Collection Account means each account listed as a UK Collection Account on Schedule II to this Agreement (as such schedule may be modified from time to time in connection with the closing or opening of any UK Collection Account in accordance with the terms hereof) (in each case, in the name of the Person specified as the account holder at the Collection Account Bank specified on Schedule II) and maintained at a bank or other financial institution acting as a Collection Account Bank pursuant to an Account Control Agreement for the purpose of receiving Collections.

UK Collection Account means the Collection Account established by the Assignee with Citibank, N.A. (London) and listed as such on Schedule II to the Receivables Purchase Agreement.

UK Collection Account shall have the meaning specified in Article 5(c).

UK Collection Account. The bank account in the name of the Borrower maintained with the UK Collection Account Bank described in Section 6.01(b), and any account that is a successor thereto pursuant to Section 6.01(b)(vii) or Section 6.01(e) or as otherwise provided in this Agreement or with the written consent of the Agent.