Credit-Linked Deposit Account. (a) The Tranche C-3 Credit-Linked Deposits shall be held by the Administrative Agent in the Tranche C-3 Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Tranche C-3 Credit-Linked Deposit Account or any other right or power with respect to the Tranche C-3 Credit-Linked Deposits, except as expressly set forth in Section 2.05, 2.09 or 2.12. Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Tranche C-3 Lender in respect of its participation in Tranche C-3 Letters of Credit shall be satisfied in full upon the funding of its Tranche C-3 Credit-Linked Deposit on the May 2006 Amendment Effective Date.
Appears in 4 contracts
Samples: Incremental Assumption Agreement (Momentive Specialty Chemicals Inc.), Intercreditor Agreement (Hexion Specialty Chemicals, Inc.), Foreign Guarantee Agreement (Hexion Specialty Chemicals, Inc.)
Credit-Linked Deposit Account. (a) The Tranche C-3 Credit-Linked Deposits shall be held by the Administrative Agent in the Tranche C-3 Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Tranche C-3 Credit-Linked Deposit Account or any other right or power with respect to the Tranche C-3 Credit-Linked Deposits, except as expressly set forth in Section 2.05, 2.09 or 2.12. Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Tranche C-3 Lender in respect of its participation in Tranche C-3 Letters of Credit shall be satisfied in full upon the funding of its Tranche C-3 Credit-Linked Deposit on the May 2006 Amendment and Restatement Effective Date.
Appears in 1 contract
Samples: Credit Agreement (Hexion Specialty Chemicals, Inc.)
Credit-Linked Deposit Account. (a) The Tranche C-3 B-3 Credit-Linked Deposits shall be held by the Administrative Agent in the Tranche C-3 B-3 Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Tranche C-3 B-3 Credit-Linked Deposit Account or any other right or power with respect to the Tranche C-3 B-3 Credit-Linked Deposits, except as expressly set forth in Section 2.05, 2.09 or 2.12. Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Tranche C-3 B-3 Lender in respect of its participation in Tranche C-3 B-3 Letters of Credit shall be satisfied in full upon the funding of its Tranche C-3 B-3 Credit-Linked Deposit on the May 2006 Amendment Effective Closing Date.
Appears in 1 contract
Samples: Credit Agreement (Hexion Specialty Chemicals, Inc.)
