Letter of Credit Cash Collateral Account. Cash collateral delivered to Lender pursuant to Sections 2.1 or 2.12 hereof shall be maintained in a deposit account of Borrowers to be established with Lender at the time such cash collateral is first created, over which Lender shall have sole control (the "Letter of Credit Cash Collateral Account"); provided that, so long as no Default or Event of Default has occurred and is continuing hereunder, Borrowers shall have the right to request, and Lender shall withdraw from the Letter of Credit Cash Collateral Account, the amount by which the balance in such account exceeds the Letter of Credit Liability which amount shall be deposited by Lender into the Operating Account. Borrowers hereby grant, bargain, convey and set over to Lender a security interest in and lien upon the Letter of Credit Cash Collateral Account and all cash and any other assets at any time hereafter contained therein as security for the payment and performance of all of Borrowers' obligations now or hereafter incurred hereunder, under the Note or otherwise in connection herewith. Borrowers shall take such action and execute and deliver such documents, including financing statements, as Lender may determine necessary or desirable to further the security interest hereby created. After the occurrence of an Event of Default and acceleration of the Revolving Credit as set forth in Section 7.2 hereof, or if Borrowers shall have failed to pay all amounts which have come due on or prior to such applicable due date, Lender shall apply all funds held in the Letter of Credit Cash Collateral Account in the manner provided in Section 2.2. On the Termination Date, all monies in the Letter of Credit Cash Collateral Account in excess of the amount required to repay Advances, the Letter of Credit Liability, and any other amount then owing hereunder shall be returned to Borrowers.
Letter of Credit Cash Collateral Account. See Section 4.7.
Letter of Credit Cash Collateral Account. (i) The Company hereby pledges and grants a security interest in and lien on the Letter of Credit Cash Collateral Account and all funds, cash and instruments at any time on deposit or held therein to the Administrative Agent for and on behalf of the Banks as security for the Obligations. The Letter of Credit Cash Collateral Account shall be under the exclusive dominion and control of the Administrative Agent. The Administrative Agent may, at any time or from time to time, without notice to the Company, apply funds then held in the Letter of Credit Cash Collateral Account to the payment of Obligations in respect of Letters of Credit and other amounts owed under this Agreement.
Letter of Credit Cash Collateral Account. (i) Borrower hereby pledges and grants a security interest in and lien on the Letter of Credit Cash Collateral Account and all funds, cash and instruments at any time on deposit or held therein to the Administrative Agent for and on behalf of Lenders as security for the Obligation. The Letter of Credit Cash Collateral Account shall be under the exclusive dominion and control of the Administrative Agent. The Administrative Agent may, at any time during the continuation of a Default without notice to Borrower, apply funds then held in the Letter of Credit Cash Collateral Account to the payment of the Obligation in respect of LCs (and, if no LCs are outstanding or the face amount thereof is less than the amount on deposit in the Cash Collateral Account, to other amounts owed under this Agreement).
Letter of Credit Cash Collateral Account. Cash collateral delivered to Lender in accordance with subsections 1.2.2(iii) and 3.2.1 of this Agreement shall be maintained in a deposit account of Borrower to be established with Lender at the time such cash collateral is first created, over which Lender shall have sole control (the "Letter of Credit Cash Collateral Account"). Borrower hereby grants, bargains, conveys and sets over to Lender a security interest in and lien upon the Letter of Credit Cash Collateral Account and all cash and any other assets at any time hereafter contained therein as security for the payment and performance of all of Borrower's obligations now or hereafter incurred hereunder, under the Note or otherwise in connection herewith. Borrower shall take such action and execute and deliver such documents, including financing statements, as Lender may determine necessary or desirable to further the security interest hereby created. After the occurrence of an Event of Default and acceleration of the Revolving Credit Loans, or if Borrower shall have failed to pay all amounts which have come due on or prior to such applicable due date, Lender shall apply all funds held in the Letter of Credit Cash Collateral Account in such manner as Lender may deem advisable.
Letter of Credit Cash Collateral Account. Cash collateral pledged by the Borrowers pursuant to this Agreement shall be maintained in a deposit account of Borrowers to be
Letter of Credit Cash Collateral Account. (a) Rockford shall cause Letter of Credit Bank to issue the Letter of Credit to Trustee for the benefit of the Certificateholders and Bond Insurer.
Letter of Credit Cash Collateral Account. Secured Party is hereby authorized to establish and maintain at any financial institution designated by Secured Party as blocked accounts in the name of any Pledgor and under the sole dominion and control of Secured Party, one or more restricted deposit accounts designated as "AIMCO Letter of Credit Cash Collateral Account." All amounts at any time held in the Letter of Credit Cash Collateral Account shall be beneficially owned by Pledgors, but shall be held in the name of Secured Party hereunder, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Except as expressly set forth herein or in the applicable Deposit Account Control Agreement, Pledgors shall have no right to withdraw, transfer or otherwise receive any funds deposited into the Letter of Credit Cash Collateral Account. Anything contained herein to the contrary notwithstanding, the Letter of Credit Cash Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or Government Authority, as may now or hereafter be in effect. All deposits of funds in the Letter of Credit Cash Collateral Account shall be made by wire transfer (or, if applicable, by intra-bank transfer from another account of a Pledgor) of immediately available funds, in each case addressed in accordance with instructions of Secured Party. At Secured Party's request, each Pledgor shall, promptly after initiating a transfer of funds to the Letter of Credit Cash Collateral Account, give notice to Secured Party by telefacsimile of the date, amount and method of delivery of such deposit. Cash held by Secured Party in the Letter of Credit Cash Collateral Account shall not be invested by Secured Party but instead shall be maintained as a cash deposit in the Letter of Credit Cash Collateral Account pending application thereof as elsewhere provided in this Agreement or the other Loan Documents. To the extent permitted under Regulation Q of the Board of Governors of the Federal Reserve System, any cash held in the Letter of Credit Cash Collateral Account shall bear interest at the standard rate paid by the depositary bank. Subject to Secured Party's rights hereunder, any interest earned on deposits of cash in the Letter of Credit Cash Collateral Account shall be deposited directly in, and held in the Letter of Credit Cash Collateral Account.
Letter of Credit Cash Collateral Account. (a)The Borrower hereby pledges, and grants to the Lender a lien and security interest in, all funds held in its Letter of Credit Cash Collateral Account from time to time and all proceeds thereof, as security for the payment of all amounts due and to become due from the Borrower to the Lender under the Financing Documents.
Letter of Credit Cash Collateral Account. A cash collateral account established and maintained by the Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Agent, into which shall be deposited cash and Cash Equivalents to be held as security for Letter of Credit Exposure as required under this Agreement. Letter of Credit Exposure. At any time, the sum of (a) the Maximum Drawing Amount with respect to all Letters of Credit issued, and (b) all Unpaid Reimbursement Obligations.
