The Cash Collateral Account. (a) If requested by the Borrower and subject to the right of the Collateral Agent to withdraw funds from the Cash Collateral Account as provided below, the Collateral Agent shall, so long as no Event of Default shall have occurred and be continuing, from time to time invest funds on deposit in the Cash Collateral Account and accrued interest thereon, reinvest proceeds of any such investments which may mature or be sold, and invest interest or other income received from any such Investments, in each case in such Cash Equivalents as the Borrower may select. After an Event of Default, the Collateral Agent shall invest any funds held in the Cash Collateral Account which are not applied to the payment of the Obligations in overnight Cash Equivalents. Such funds, interest, proceeds or income which are not so invested or reinvested in Cash Equivalents shall, except as otherwise provided in this Section 11.03, be deposited and held by the Collateral Agent in the Cash Collateral Account. None of either Administrative Agent, any Lender or any Issuing Bank shall be liable to the Borrower for, or with respect to, any decline in value of amounts on deposit in the Cash Collateral Account which shall have been invested pursuant to this Section 11.03(a) at the direction of the Borrower. Cash Equivalents from time to time purchased and held pursuant to this Section 11.03(a) shall constitute Cash Collateral and shall, for purposes of this Agreement, be deemed to be part of the funds held in the Cash Collateral Account in amounts equal to their respective outstanding principal amounts.
The Cash Collateral Account. The Grantor and the Account Bank represent and warrant to, and agree with, the Collateral Trustee that:
The Cash Collateral Account. (a) Upon receipt of notice of a draw on the Letter of Credit pursuant to Section 3.8 or 3.9, the Trustee shall establish and maintain in the name of the Trustee for the benefit of the Series 1996-1 Noteholders, or cause to be established and maintained, the Cash Collateral Account bearing a designation clearly indicating that the funds deposited therein are held for the Series 1996-1 Noteholders. The Cash Collateral Account shall be maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust powers and acting as trustee for funds deposited in the Cash Collateral Account. If the Cash Collateral Account is not maintained in accordance with the prior sentence, then within 10 Business Days after obtaining knowledge of such fact, National has agreed pursuant to the Lease that it shall establish a new Cash Collateral Account which complies with such sentence and shall instruct the Trustee to transfer into the new Cash Collateral Account all cash and investments from the non qualifying Cash Collateral Account. When established, the Cash Collateral Account is intended to function in all respects as the replacement for, and the equivalent of, the Letter of Credit. Accordingly, following its creation, each reference to a draw on the Letter of Credit shall refer to withdrawals from the Cash Collateral Account and references to similar terms shall mean and be a reference to actions taken with respect to the Cash Collateral Account that correspond to actions that otherwise would have been taken with respect to the Letter of Credit. Without limiting the generality of the foregoing, upon funding of the Cash Collateral Account, the Trustee shall, at all times when otherwise required to make a draw under the Letter of Credit pursuant to Sections 3.8 or 3.9 of this Supplement, make a draw from the Cash Collateral Account in the amount and at such time as a draw would be made under the Letter of Credit pursuant to Sections 3.8 or 3.9 of this Supplement. The Trustee shall provide written notice to National of any draw from the Cash Collateral Account pursuant to Sections 3.8 or 3.9 of this Supplement.
The Cash Collateral Account. (a) The Applicants shall cause the Cash Collateral Account to at all times contain funds in an amount equal to not less than 105% of the Letter of Credit Obligations for all Letters of Credit then outstanding.
The Cash Collateral Account. In accordance with the requirements of the L/C Agreement, as collateral security for the Obligations, we will from time to time furnish to you cash sums to be deposited into an interest bearing account with you entitled “BioScrip, Inc. Loan Collateral”, Account # 406923 (the “Cash Collateral Account”). We agree that some or all of the funds from time to time in the Cash Collateral Account may be invested by you in time deposits, including, without limitation, certificates of deposit issued by you (such certificates of deposit or other time deposits being hereinafter referred to, collectively, as “Time Deposits”), which are satisfactory to you after consultation with us. Interest earned on the Cash Collateral Account and on the Time Deposits, and the principal of the Time Deposits at maturity which is not invested in new Time Deposits, shall be deposited in the Cash Collateral Account.
The Cash Collateral Account. Each of the parties hereto hereby acknowledge and agree that (a) the Company has furnished, or will from time to time furnish, to the Lender, Cash Collateral to be deposited into the Cash Collateral Account in accordance with the terms hereof and the other Loan Documents, (b) the Lender will at all times continue to be the bank with which the Cash Collateral Account is maintained for purposes of Section 9-104 of the Uniform Commercial Code of New York and (c) the “bank’s jurisdiction (as determined under Section 9-304 of the Uniform Commercial Code of New York) shall be deemed to be the State of New York. Subject to the terms and conditions set forth herein, the Cash Collateral and the Cash Collateral Account shall be subject to the sole and exclusive control of the Lender.
The Cash Collateral Account. (a) If any Event of Default shall have occurred and be continuing, the Agent shall at the request, or may with the consent, of either the Majority Banks or the Issuing Bank Agents, make demand upon the Borrower to, and forthwith upon such demand the Borrower shall, pay to the Agent in immediately available funds at the Agent's office described in Section 10.03 below, for deposit in a special non-interest bearing cash collateral account (the "Cash Collateral Account") to be maintained at such office of the Agent, an amount equal to the maximum amount then available to be drawn under the Facility Letters of Credit (or such lesser amount as may be demanded by the Agent in its sole discretion). The Cash Collateral Account shall be in the name of the Borrower (as a cash collateral account), but under the sole dominion and control of the Agent and subject to the terms of this Agreement.
The Cash Collateral Account. The Pledgor has established with the Pledgee at its office at Fleet National Bank or such other office of the Pledgee as the Pledgee will from time to time designate, an interest-bearing, limited access, special purpose account, designated "Veeco Instruments Inc. - Cash Collateral Account" (the "Cash Collateral Account"). The Cash Collateral Account shall be a limited access, special purpose account under the sole dominion and control of the Pledgee. The Pledgor may not under any circumstances draw checks upon or otherwise withdraw any funds or other assets from the Cash Collateral Account except as may be specifically provided herein.
The Cash Collateral Account. The Pledgor or any other person on behalf of the Pledgor, including the Custodian, may from time to time deposit cash sums denominated in U.S. dollars into the Cash Collateral Account. The Pledgor agrees that some or all of the funds from time to time in the Cash Collateral Account may be invested in certificates of deposit issued by the Bank (such certificates of deposit hereinafter referred to, collectively, as "TIME DEPOSITS", and together with the cash held in each of the Deposit Account and the Cash Collateral Account, the "CASH COLLATERAL"). Interest earned on the Cash Collateral held or credited to the Cash Collateral Account, and the principal of the Time Deposits at maturity which is not invested in new Time Deposits, shall be deposited in the Cash Collateral Account. The Pledgor may from time to time request, and the Bank agrees to, effect transfers of cash from the Cash Collateral Account to the Securities Account for the sole purpose of allowing the Pledgor to purchase Qualified Securities to be held in or credited to the Securities Account; provided that (a) any such transfer request shall involve a minimum amount of $500,000 or integral multiples of $100,000 in excess thereof, (b) after giving effect to such transfer request, the Pledgor remains in compliance with the covenant contained in Section 13 and (c) no Event of Default has occurred and is continuing hereunder.
The Cash Collateral Account
