Cash Collateral Account definition

Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

Cash Collateral Account means a non-interest bearing cash collateral account maintained with, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Creditors.

Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

Examples of Cash Collateral Account in a sentence

• The Cash Collateral Account is a cash only account and may not go into overdraft.

• Upon the drawing of any Letter of Credit, to the extent funds are on deposit in the L/C Cash Collateral Account, such funds shall be applied to reimburse the Issuing Banks to the extent permitted by applicable law.

• After (i) no Event of Default shall be continuing or (ii) all such Letters of Credit shall have expired or been fully drawn upon and all other obligations of the Borrower hereunder and under the Notes shall have been paid in full, the balance, if any, in such L/C Cash Collateral Account shall be returned to the Borrower.

• The Account Bank shall administer, credit and debit each of the Distribution Account, the Cash Collateral Account, the Counterparty Downgrade Collateral Account and the Accumulation Account and separately in accordance with the terms and provisions hereunder.

• The Account Bank confirms that it has opened the Cash Collateral Account in the name of and for the benefit of the Issuer with IBAN: which is subject to English law and denominated in Sterling.

More Definitions of Cash Collateral Account

Cash Collateral Account means a collateral account established with the Administrative Agent, in the name of the Administrative Agent and under its sole dominion and control, into which the Borrower shall from time to time deposit Dollars pursuant to the express provisions of this Agreement requiring such deposit.

Cash Collateral Account has the meaning provided in Section 2.11(b).

Cash Collateral Account is defined in Section 6.3(c).

Cash Collateral Account has the meaning set forth in Section 4.01(a)(ii).

Cash Collateral Account shall have the meaning given to such term in Section 3.8.

Cash Collateral Account has the meaning ascribed to it Annex B.

Cash Collateral Account has the meaning specified in the Security Agreement.