Payments Received into the Collection Account. Account Funds deposited to the Collection Account will be processed in accordance with the terms of the Collection Account service description to the Master Agreement for Treasury Management Services. ▇▇▇▇▇ Fargo will withdraw Account Funds deposited to the Collection Account and pay down borrowings on the Line of Credit by applying them to the Revolving Note on the first Business Day following the Business Day of deposit to the Collection Account.
Appears in 2 contracts
Sources: Credit and Security Agreement (Hemacare Corp /Ca/), Credit and Security Agreement (Gvi Security Solutions Inc)