Collateralization. (i) If any Bankers’ Acceptance is outstanding on the Demand Date or the Maturity Date, the Borrower shall on such date pay to the Agent for the account of the Lenders at the Branch in Canadian Dollars an amount equal to the Face Amount of such Bankers’ Acceptance.
Collateralization. The Company or any Applicable Account Party may at its option at any time and from time to time Collateralize any Letter of Credit issued for the account of such Applicable Account Party at 100% of the undrawn and unexpired amount of such Letter of Credit. In addition, on or prior to the date that is five Business Days prior to the Termination Date then in effect for any Issuing Lender, the Company or such Applicable Account Party shall Collateralize (or, with the consent of the relevant Issuing Lender, in its sole discretion, enter into alternative arrangements on terms satisfactory to such Issuing Lender in respect of) any Letter of Credit issued for the account of such Applicable Account Party with an expiration date occurring after such Termination Date as provided in Section 3.1. Any Letter of Credit that is Collateralized or subject to such alternative arrangements as provided in this Section 3.9 shall cease to be a “Letter of Credit” outstanding hereunder effective on the date of such Collateralization or guarantee and, accordingly, the rights and obligations of Lenders in respect thereof (including pursuant to Sections 3.3 and 3.4) shall terminate and the Dollar Equivalent of the Outstanding Amount of such Letter of Credit shall no longer be included as an “L/C Obligation” or an “Extension of Credit”.
Collateralization. In accordance with the provisions of Section 10 of the GML, all deposits of the New York Liquid Asset Fund (NYLAF), including certificates of deposit and special time deposits, in excess of the amount insured under the provisions of the Federal Deposit Insurance Act shall be secured:
Collateralization. Promptly after the date hereof, the parties hereto shall meet and negotiate in good faith towards securing the Bridge Facility Promissory Note with the assets referred to in the license agreement related thereto in the circumstances where STC is required to borrow under Section 7.12(b). Such good faith negotiations shall involve negotiating a customary security interest and security agreement. CGI and STC shall use all reasonable efforts to conclude such negotiations by January 31, 1997.
Collateralization. In the event that any Letters of Credit shall be drawn and not reimbursed on the Maturity Date, the Borrowers shall Cash Collateralize the Letter of Credit Exposure in an amount not less than the Minimum Collateral Amount.
Collateralization. (a) All amounts required to be deposited as Collateral with the Agent pursuant to subsection 2.6(b) or Section 8 shall be deposited in a collateral account established by CDH with the Agent (the "Collateral Account"), to be held, applied or released for application as provided in this subsection 3.9. Promptly after being requested by the Agent, the Borrower shall cause CDH to execute and deliver to the Agent, (i) an Account Pledge Agreement substantially in the form of Exhibit H (the "Account Pledge Agreement") pursuant to which, as provided therein, CDH shall grant to the Agent, for the benefit of the Secured Parties, a security interest in, among other things, all cash, securities and other financial instruments in the Collateral Account to secure the Obligations, (ii) a securities account control agreement substantially in the form of Exhibit I (the "Securities Account Control Agreement") and (iii) such further documents and instruments as the Agent may reasonably request to evidence the creation and perfection of such security interest in the Collateral Account.
Collateralization. All funds on deposit with Bank to the credit of City shall be secured by collateral as provided for in the Public Funds Investment Act (Chapter 2256 of the Texas Government Code as amended), the Public Funds Collateral Act (Chapter 2257 of the Texas Government Code), City’s Investment Policy, and Bank’s Application. If marketable securities are pledged, the total market value of the securities securing such deposits will be in an amount at least equal to 102% of deposits plus accrued interest, less the amount insured by the FDIC. The market value of any pledged securities (collateral) will be obtained from non-Bank- affiliated sources. Bank will monitor and maintain the required collateral margins and levels at all times. The City will inform the Bank of any changes in the amount or activity of deposits, that may exceed the entity’s current Collateral value, within a reasonable time before the change occurs. Bank has heretofore, or will promptly hereafter, deliver to Custodian collateral of the kind and character above mentioned of sufficient amount and market value to provide adequate collateral for the funds of City deposited with Bank. Custodian will accept said collateral and hold the same in trust for the purposes herein stated. Said collateral or substitute collateral, as hereinafter provided for, shall be kept and retained by Custodian in trust so long as deposits of City remain with Bank. Bank hereby grants a security interest in such collateral to City. If at any time the collateral in the hands of Custodian shall have a market value in excess of the required balances, City may authorize the withdrawal of a specified amount of collateral, and Custodian shall deliver this amount of collateral (and no more) to Bank. If surety bonds or letters of credit are utilized, City shall agree as to the issuer and form of contract prior to the pledge. The amount of surety bonds or letters of credit will be at least equal to 100% of deposits plus accrued interest, less the amount insured by the FDIC. The termination or expiration of any surety bond or letter of credit shall be a minimum of two (2) business days after City anticipates withdrawing the secured deposit.
Collateralization. On the date hereof and contemporaneously with the execution of this Custody Agreement, the Bank shall provide the IBFD with a statement of the total amount of Public Funds (as defined in the Agreement) on deposit at the Bank by sending an e-mail to Xxxxx Xxxxx Xxxxx at xxxxxx@xxx.xx.xxx, or her designee. Immediately after executing this Custody Agreement, the Bank shall deposit into and deliver and credit to the Account, as security for its obligations under the Agreement, Collateral having a Market Value which equals the Collateral Requirement. If a Letter of Credit has also been obtained by the Bank as Pledged Collateral, the Bank may use the maximum draw amount under such Letter of Credit in connection with its analysis to determine if the Collateral Requirement has been satisfied (i.e., the maximum draw amount of the Letter of Credit shall be credited against the Collateral Requirement). The Bank hereby grants to the IBFD a first and prior security interest under the UCC in and to the Account and all Collateral credited to or otherwise held in the Account from time to time. The Bank acknowledges that this Custody Agreement constitutes written notification to the Bank, pursuant to Articles 8 and 9 of the UCC and applicable federal regulations for the Federal Reserve Book Entry System, of the IBFD’s security interest in the Collateral. The IBFD and the Bank are also entering into this Custody Agreement to provide for the IBFD’s control of the Collateral and to perfect, and confirm the priority of, the IBFD’s security interest in the Collateral. The Bank agrees to promptly make all necessary entries or notations on its books and records to reflect the IBFD’s security interest in the Collateral.
Collateralization. On or prior to the date hereof, Reinsurer shall establish, pursuant to the trust agreement attached hereto as EXHIBIT B (the "Trust Agreement"), a grantor trust of Reinsurer naming Cedent as beneficiary with a Delaware bank that is a member of the Federal Reserve System which is reasonably satisfactory to Cedent (the "Trust Account"). The aggregate amount of assets (consisting of cash and other investment assets permitted by the Trust Agreement) required to be maintained by Reinsurer in the Trust Account in accordance with Section 9.3 hereof shall be, at all times on and after the Closing Date, an amount equal to the sum of (i) Reinsurer's aggregate obligations to Cedent under this RSLIC Quota Share Reinsurance Agreement, net of collectible Reinsurance Recoverables and collectible Net Premium Receivables, plus (ii) at all times Landmark is an Affiliate of RIC, Reinsurer's aggregate obligations under the Landmark Quota Share Reinsurance Agreement, net of collectible Reinsurance Recoverables and collectible Net Premium Receivables (as such terms are defined in such agreement), plus (iii) Reinsurer's aggregate obligations under the RIC Quota Share Reinsurance Agreement, net of collectible Reinsurance Recoverables and collectible Net Premium Receivables (as such terms are defined in such agreement), less (iv) RIC's aggregate obligations to Landmark under the RIC (Landmark) Quota Share Reinsurance Agreement (such amount, the "Required Balance").
Collateralization. The Additional Collateral Shares shall not be included in determining whether the Companies have satisfied their obligation to deliver Collateral Shares under the Agreement.
