Collections Accounts Sample Clauses

Collections Accounts. To the extent not delivered directly to a lockbox, all Items or funds received by any Borrower in respect of Accounts or the sale of Inventory or as Net Proceeds of other Collateral shall be held by such Borrower in trust for Lender, and Borrowers shall use commercially reasonable efforts to not commingle such items or funds with such Borrower’s funds, and shall be deposited promptly by such Borrower into a Collections Account or forwarded to Lender in the form received. All such Items and funds shall be the exclusive property of Lender upon the earlier of the receipt thereof by Lender or by such Borrower. With respect to those lockboxes established and maintained by Borrowers with Lender, Lender shall process all Items received into each such lockbox and deposit such Items into the applicable Borrower’s Collections Account maintained with Lender. With respect to those lockboxes established and maintained with an Acceptable Depository Institution, Borrowers shall instruct each such Acceptable Depository Institution to promptly process all Items received into each such lockbox and to transfer to Lender all monies in respect of such Items not later than the next Business Day for application to the Obligations in the same manner as Items or funds deposited in a Collections Account maintained with Lender. Subject to Section 2.9(c), Lender shall apply available balances from any Item or funds deposited into a Collections Account to the payment of Obligations in whatever order Lender shall determine.
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Collections Accounts. Upon the occurrence of a Trigger Event, all Items or funds received by Borrower in respect of Accounts or the sale of Inventory or as Net Proceeds of other Collateral shall be held by Borrower in trust for Lender, shall not be commingled with Borrower’s funds, and shall be deposited promptly by Borrower into a Collections Account or forwarded to Lender in the form received. All such Items and funds shall be the exclusive property of Lender upon the earlier of the receipt thereof by Lender or by Borrower. Lender shall promptly process all Items received pursuant to this Section 2.9(b) into each lockbox and deposit such Items into a Collections Account. Subject to Section 2.9(c), Lender shall apply available balances from any Item or funds deposited into a Collections Account pursuant to this Section 2.9(b) to the payment of Obligations in whatever order Lender shall determine.
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Collections Accounts. (i) Each Collection Account is either in the name of the SPE, or is in the name of the Originator. (ii) Each Collection Account and Lock-Box is identified on Schedule B to the Receivables Purchase Agreement and is free and clear of any Lien (other than Permitted Liens). The Originator has not granted any Person (other than the SPE, the Master Servicer and their respective assigns) access to or control of any such Lock-Box or Collection Account or the right to take control of any such Lock-Box or Collection Account at a future time or upon the occurrence of a future event. (iii) Either the Master Servicer or the Originator has directed the Obligors to make payments on the Receivables, to a Lock-Box or a Collection Account. (iv) To the extent that funds other than Collections are deposited into any Collection Account, the Originator or the Master Servicer can promptly trace and identify which funds constitute Collections. If for any reason the Originator receives any Collections, the Originator shall deposit such Collections directly into a Lock-Box or a Collection Account within two (2) Business Days following the receipt and identification thereof. Any such Collections received by 8 Receivables Sale Agreement the Originator while in the possession of the Originator shall be held in trust for the benefit of the SPE and shall not be deposited in any bank or other securities account other than a Lock-Box or a Collection Account.
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Collections Accounts. The Administrative Agent shall use commercially reasonable efforts to (i) collect all payments required under each Lease and (ii) cause each Lessee to make all payments in respect of the related Lease, accompanied by an invoice bearing the identification number of the Vehicle to which such payment relates.
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Collections Accounts. To the extent not delivered directly to a lockbox, all Items or funds received by each Borrower in respect of Accounts or the sale of Inventory or as Net Proceeds of other Collateral shall be held by such Borrower in trust for Lender, shall not be commingled with such Borrower’s funds, and shall be deposited promptly by such Borrower into a Collections Account or forwarded to Lender in the form received. All such Items and funds shall be the exclusive property of Lender upon the earlier of the receipt thereof by Lender or by Borrower. Subject to Section 2.9(c), Lender shall apply available balances from any Item or funds deposited into a Collections Account to the payment of Obligations in whatever order Lender shall determine.
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Collections Accounts. (a) The Administrative Agent shall use commercially reasonable efforts to (i) collect all payments required under each Lease and (ii) cause each Lessee to make all payments in respect of the related Lease, accompanied by an invoice bearing the identification number of the Vehicle to which such payment relates. (b) Consistent with the foregoing, the Administrative Agent may in its discretion waive any late payment charge, in whole or in part, in connection with delinquent payments on a Lease. (c) As and when required by a related Supplement or Administration Supplement, the Administrative Agent shall transfer between the related Collection Accounts (or a SUBI Lease Account, as applicable) such funds as are required to be so transferred in connection with any Trust Asset Transfer. (d) Transfers by the Administrative Agent to an entity at which any Trust Account is maintained may include (i) funds being deposited into more than one Trust Account, (ii) proceeds of Trust Assets and Other Proceeds, in each case in a single wire transfer, provided that such transfer is accompanied by instructions as to the appropriate division of all such proceeds and (iii) Other Collections. (e) As to any SUBI Collections or UTI Collections (but excluding Other Collections) received by the Administrative Agent with respect to any Trust Asset: (i) except as provided below, with respect to any such UTI Collections or SUBI Collections, upon processing thereof, the Administrative Agent shall deposit such funds into the related Collection Account; (ii) with respect to Other Collections, the Administrative Agent may deposit such funds in accordance with its normal business practices; and (iii) with respect to any Capital Contribution, except as otherwise directed by the maker of such Capital Contribution, upon processing thereof, the Administrative Agent shall deposit such funds into the related Collection Account. (f) Notwithstanding the foregoing, with respect to any Total Monthly Payments, Sales Proceeds, Termination Proceeds, Casualty Proceeds, Insurance Proceeds, Prepayments or any other payments made by or on behalf of any Lessee or otherwise with respect to any Lease or Vehicle: (i) upon processing of such funds, the Administrative Agent shall ascertain within two Business Days thereafter the following information: (A) the amount of each receipt, (B) the identification number of the Vehicle to which such receipt relates, (C) the nature of the payment (i.e., whether a Total Mont...
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Collections Accounts. 2.5.1 All amounts in the Collection Accounts, the Debt Service Reserve Account and the Payments Account will be applied on each Interest Payment Date in the order of priority, subject to and as provided for in Clause Seventh of the Trust Agreement.
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Collections Accounts. Should a tenant break a lease or move owing the Owner any funds, Agent shall turn the account over for collection. Agent shall charge a $50.00 (fifty) processing fee.
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Collections Accounts 
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Related to Collections Accounts

  • Collection Accounts (a) On behalf of the Trustee, each Servicer shall establish and maintain, or cause to be established and maintained, one or more separate Eligible Accounts (each such account or accounts, a "Collection Account"), held in trust for the benefit of the Trustee. On behalf of the Trustee, each Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Servicer's receipt thereof, and shall thereafter deposit in the related Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto: (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the related Servicing Fee) on each Mortgage Loan; (iii) all Insurance Proceeds and Condemnation Proceeds to the extent such Insurance Proceeds and Condemnation Proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the related Mortgagor in accordance with the express requirements of law or in accordance with Accepted Servicing Practices and Liquidation Proceeds; (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the related Collection Account; (v) any amounts required to be deposited by such Servicer pursuant to the second paragraph of Section 3.13(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with this Agreement; and (vii) all Prepayment Charges collected or paid (pursuant to Section 3.07(a)) by such Servicer. The foregoing requirements for deposit in the Collection Accounts shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, NSF fees, reconveyance fees, assumption fees and other similar fees and charges need not be deposited by each Servicer in the related Collection Account and shall, upon collection, belong to the applicable Servicer as additional compensation for its servicing activities. In the event a Servicer shall deposit in the related Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from its Collection Account, any provision herein to the contrary notwithstanding. (b) Funds in the Collection Accounts may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. Each Servicer shall give notice to the Trustee of the location of the related Collection Account maintained by it when established and prior to any change thereof in accordance with Section 3.07(f).

  • Segregated Accounts Upon receipt of Proper Instructions, the Custodian shall establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or Securities, including Securities maintained in a Depository Account: (a) in accordance with the provisions of any agreement among the Trust, the Custodian and a broker-dealer registered under the 1934 Act and a member of FINRA (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund; (b) for purposes of segregating cash or Securities in connection with securities options purchased or written by the Fund or in connection with financial futures contracts (or options thereon) purchased or sold by the Fund; (c) which constitute collateral for loans of Securities made by the Fund; (d) for purposes of compliance by the Fund with requirements under the 1940 Act for the maintenance of segregated accounts by registered investment companies in connection with reverse repurchase agreements and when-issued, delayed delivery and firm commitment transactions; and (e) for other proper corporate purposes, but only upon receipt of Proper Instructions, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes. Each segregated account established under this Article VI shall be established and maintained for the Fund only. All Proper Instructions relating to a segregated account shall specify the Fund.

  • Business Accounts If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to: • enter into this Agreement, as amended from time to time; • access each account of yours in any manner and for any purpose available through the Service, whether now available or available at some time in the future; and • use any Online banking service in any manner and for any purpose available through the Service, whether now available or available at some time in the future.

  • Collection Account (a) On behalf of the Trustee, the Servicer shall establish and maintain, or cause to be established and maintained, one or more segregated Eligible Accounts (such account or accounts, the “Collection Account”), held in trust for the benefit of the Trustee. On behalf of the Trustee, the Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit into the Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto: (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the related Servicing Fee) on each Mortgage Loan; (iii) all Insurance Proceeds and Condemnation Proceeds to the extent such Insurance Proceeds and Condemnation Proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the related Mortgagor in accordance with the express requirements of law or in accordance with Accepted Servicing Practices, Liquidation Proceeds and Subsequent Recoveries; (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the Collection Account; (v) any amounts required to be deposited by the Servicer pursuant to the second paragraph of Section 3.13(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with this Agreement; and (vii) all Prepayment Charges collected by the Servicer. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, NSF fees, reconveyance fees, assumption fees and other similar fees and charges need not be deposited by the Servicer in the Collection Account and shall, upon collection, belong to the Servicer as additional compensation for its servicing activities. In the event the Servicer shall deposit in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Collection Account, any provision herein to the contrary notwithstanding. (b) Funds in the Collection Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. The Servicer shall give notice to the Securities Administrator, the Master Servicer, the Trustee and the Depositor of the location of the Collection Account maintained by it when established and prior to any change thereof.

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.