BONX XX XXLLATERAL ACCOUNT Sample Clauses

BONX XX XXLLATERAL ACCOUNT. All amounts due and payable by Borrower under this Section 2A.8 with respect to the Bonx XX xxall be (1) first applied to Borrower's Bonx XX Xxligations that are then due and payable, and (2) second held in an account established at NationsBank or an Affiliate thereof designated the Hecla Mining Company Bonx XX Xxllateral Account (the "BONX XX XXLLATERAL ACCOUNT"), as security for the remaining Obligations (in this Section 2A.8 all such amounts held in the Bonx XX Collateral Account and all investments made with funds in the Bonx XX Collateral Account are collectively called the "BONX XX XXSH COLLATERAL"). The Bonx XX Xxsh Collateral shall be applied to Bonx XX Xxligations as they become due and payable and when no Bonx XX Xxligations remain outstanding, the Bonx XX Xxsh Collateral shall be applied to all other Obligations as they become due and payable. At any time, and from time to time so long as no Default or Event of Default has occurred and is continuing, Agent, at the written request of Borrower, shall invest and reinvest funds held in the Bonx XX Xxllateral Account in Permitted Investments at such prices as are set forth in such request, subject to the Lien in favor of Agent. Upon the occurrence and during the continuance of an Event of Default, Agent shall invest and reinvest funds held in the Bonx XX Xxllateral Account in Permitted Investments at such prices as it in its sole discretion determines, subject to the Lien in favor of Agent. Agent shall have no liability for losses on any such Permitted Investments. Any proceeds and interest or other earnings shall be retained in the Bonx XX Xxllateral Account and invested in the same manner as other funds therein or applied to Obligations then due and owing. NOTWITHSTANDING THE FOREGOING PROVISION OF THIS SECTION 2A.8, in no event shall Agent invest or fail to invest any funds on deposit in the Bonx XX Xxllateral Account, or fail to pay any requested rebate to the United States of America, if such investment or failure to invest or such failure to pay any required rebate, would cause the Bonds to be or become "ARBITRAGE BONDS" within the meaning of Section 148 of the Internal Revenue Code, as amended, and any applicable regulations thereunder; Agent shall only invest funds on deposit in the Bonx XX Xxllateral Account at a yield not in excess of the yield on the Bonds. The term "YIELD" means with respect to the issue of which the Bonds are a part, the discount rate that, when used in computing the pre...
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Related to BONX XX XXLLATERAL ACCOUNT

  • Special Collateral Account After an Event of Default has occurred -------------------------- and is continuing, all cash proceeds of the Collateral received by the Agent shall be deposited in a special deposit account with the Agent and held there as security for the Secured Obligations. The Agent shall invest any and all available funds deposited in such special deposit account, within five (5) business days after the date the relevant funds become available, in securities issued as fully guaranteed or insured by the United States Government or any agency thereof backed by the full faith and credit of the United States having maturities of three (3) months from the date of acquisition thereof (collectively, "Government Obligations"). The Assignor hereby acknowledges and agrees that the Agent shall not have any liability with respect to, and the Assignor hereby indemnifies the Agent against, any loss resulting from the acquisition of the Government Obligation and the Agent shall not have any obligation to monitor the trading activity of any such Governmental Obligations on and after the acquisition thereof for the purpose of obtaining the highest possible return with respect thereto, the Agent's responsibility being limited to acquiring such Governmental Obligations.

  • Collateral Account Party B shall open and maintain a segregated account, which shall be an Eligible Account, and hold, record and identify all Posted Collateral in such segregated account.

  • Investment of Balance in Collateral Account Amounts on deposit in the Collateral Account shall be invested from time to time in such Permitted Investments as the respective Pledgor through the Company (or, after the occurrence and during the continuance of a Default, the Agent) shall determine, which Permitted Investments shall be held in the name and be under the control of the Agent, PROVIDED that (i) at any time after the occurrence and during the continuance of an Event of Default, the Agent may (and, if instructed by the Banks as specified in Section 11.03 of the Second Amended and Restated Credit Agreement, shall) in its (or their) discretion at any time and from time to time elect to liquidate any such Permitted Investments and to apply or cause to be applied the proceeds thereof to the payment of the Secured Obligations in the manner specified in Section 5.09 hereof and (ii) if requested by the respective Pledgor through the Company, such Permitted Investments may be held in the name and under the control of one or more of the Banks (and in that connection each Bank, pursuant to Section 11.10 of the Second Amended and Restated Credit Agreement) has agreed that such Permitted Investments shall be held by such Bank as a collateral sub-agent for the Agent hereunder).

  • Reserve Account Property (i) The Reserve Account and all proceeds thereof (other than the Investment Earnings thereon) including all cash, investments, investment property and other amounts held from time to time in the Reserve Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities, Financial Assets or otherwise) and (ii) the Reserve Account Deposit and all proceeds thereof (other than the Investment Earnings thereon).

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • LC Collateral Account (i) The Administrative Agent is hereby authorized to establish and maintain at the Notice Office, in the name of the Administrative Agent and pursuant to a dominion and control agreement, a restricted deposit account designated “The Lead Borrower LC Collateral Account.” Each Credit Party shall deposit into the LC Collateral Account from time to time the Cash Collateral required to be deposited under Section 2.13(j) hereof.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

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