L/C Cash Deposit Account definition

L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent and the Issuing Banks.

L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by each Issuing Bank, over which such Issuing Bank shall have sole dominion and control, upon terms as may be satisfactory to such Issuing Bank.

Examples of L/C Cash Deposit Account in a sentence

• Any funds deposited to the L/C Cash Deposit Account in accordance with the preceding sentence shall be applied in the manner specified in the last two sentences of Section 6.02.

• After all such Letters of Credit shall have expired or been fully drawn upon, if at such time (x) no Event of Default is continuing or (y) 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 Deposit Account shall be returned to the Borrower.

• Upon the drawing of any such Letter of Credit, to the extent funds are on deposit in the applicable L/C Cash Deposit Account, such funds shall be applied to reimburse the applicable Issuing Bank to the extent permitted by applicable law, and if so applied, such reimbursement shall be deemed a repayment of the corresponding Letter of Credit Advance in respect of such Letter of Credit.

• Upon the drawing of any Letter of Credit for which funds are on deposit in the applicable L/C Cash Deposit Account, such funds shall be applied to reimburse the relevant Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law.

More Definitions of L/C Cash Deposit Account

L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Administrative Agent, over which the Administrative Agent shall have sole dominion and control, upon terms as may be reasonably satisfactory to the Administrative Agent.

L/C Cash Deposit Account means any interest bearing cash deposit account established and maintained for the benefit of any lender under any credit agreement entered into by and among the Company and such lender, over which the lender or its agent shall have sole dominion and control, upon terms as may be satisfactory to such lender or its agent.

L/C Cash Deposit Account has the meaning set forth in Recital (5) of this Agreement.

L/C Cash Deposit Account has the meaning specified in Section 2.10(i).

L/C Cash Deposit Account means any of (a) the Sterling L/C Cash Deposit Account, (b) the interest-bearing Dollar-denominated cash deposit account, and (c) with respect to Special Letters of Credit after the 15th day prior to the Maturity Date, any other interest-bearing cash deposit account denominated in any other currency, in each case to be established and maintained by Citibank pursuant to Section 2.04 hereof, over which Citibank shall have sole dominion and control, upon terms as may be satisfactory to Citibank.

L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by Citibank N.A., as agent for the lenders under the 3-Year Credit Agreement, dated May 10, 2004, entered into by and among the Company and a syndicate of banks, over which the agent shall have sole dominion and control, upon terms as may be satisfactory to the agent.

L/C Cash Deposit Account means the interest bearing cash deposit account established and maintained by the Agent under and as defined in the 3-Year Credit Agreement dated as of May 10, 2004 among the Company, the initial lenders, initial issuing banks, swing line bank and other financial institutions party thereto and Citibank, as administrative agent.