Common use of Credit-Linked Deposit Account Clause in Contracts

Credit-Linked Deposit Account. (i) On the Closing Date and subject to the satisfaction of the conditions precedent set forth in Sections 4.01 and 4.02, each PF Lender shall pay to the Administrative Agent such PF Lender’s Credit-Linked Deposit. The Credit-Linked Deposits shall be held by the Administrative Agent in (or credited to) the Credit-Linked Deposit Account, and no person other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its participation in PF Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit.

Appears in 1 contract

Samples: Credit Agreement (Ryan's Restaurant Leasing Company, LLC)

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Credit-Linked Deposit Account. (ia) On the Closing Initial Borrowing Date and subject to the satisfaction of the conditions precedent set forth in Sections 4.01 5 and 4.026, each PF Lender on such date shall pay to the Administrative Agent such PF Lender’s Credit-Linked Deposit. The Credit-Linked Deposits shall be held by the Administrative Agent in (or credited to) the Credit-Linked Deposit Account, and no person Person other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its participation Participation in PF Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit.

Appears in 1 contract

Samples: Credit Agreement (Quality Distribution Inc)

Credit-Linked Deposit Account. (ia) On the Closing Initial Borrowing Date and subject to the satisfaction of the conditions precedent set forth in Sections 4.01 5 and 4.026, each PF Lender on such date shall pay to the Administrative Agent such PF Lender’s 's Credit-Linked Deposit. The Credit-Linked Deposits shall be held by the Administrative Agent in (or credited to) the Credit-Linked Deposit Account, and no person Person other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its participation Participation in PF Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit.

Appears in 1 contract

Samples: Credit Agreement (Quality Distribution Inc)

Credit-Linked Deposit Account. (i) On the Closing Date and subject to the satisfaction of the conditions precedent set forth in Sections 4.01 and 4.02, each PF Lender shall pay to the Administrative Agent such PF Lender’s Credit-Linked Deposit. The Credit-Linked Deposits shall be held by the Administrative Agent in (or credited to) the Credit-Linked Deposit Account, and no person other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its participation in PF Letters of Credit and PF L/C Loans shall be satisfied in full upon the funding of its Credit-Linked Deposit.

Appears in 1 contract

Samples: Credit Agreement (Buffets Holdings, Inc.)

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Credit-Linked Deposit Account. (i) On the Closing Restatement Date and subject to the satisfaction of the conditions precedent set forth in Sections 4.01 and 4.02, each PF Lender shall pay to the Administrative Agent such PF Lender’s Credit-Linked Deposit. The Credit-Linked Deposits shall be held by the Administrative Agent in (or credited to) the Credit-Linked Deposit Account, and no person other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its participation in PF Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit.

Appears in 1 contract

Samples: Credit Agreement (Buffets Inc)

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