Administrative Agent Controlled Account definition

Administrative Agent Controlled Account means a deposit account of the Borrower established with the Administrative Agent and subject to the exclusive dominion and control, including the exclusive right of withdrawal, of the Administrative Agent.
Sample 1Sample 2Sample 3
Administrative Agent Controlled Account means a deposit account of the Borrower established with the
Sample 1Sample 2

Examples of Administrative Agent Controlled Account in a sentence

  • Funds deposited by the Borrower in the Administrative Agent Controlled Account shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement.

  • Other than any interest earned on the investment of the deposits in the Administrative Agent Controlled Account, which investments shall be made in any Permitted Investments at the option and within the Permitted Discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest.

  • The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over the Administrative Agent Controlled Account; provided that the Administrative Agent may, in its Permitted Discretion, permit the Borrower to withdraw funds from the Administrative Agent Controlled Account so long as no Default or Event of Default has occurred or is continuing or would result therefrom, which permission shall not to be unreasonably withheld or delayed.

  • Without limiting the Administrative Agent’s discretion with respect to the Administrative Agent Controlled Account set forth above, upon the occurrence and during the continuance of an Event of Default, funds held in the Administrative Agent Controlled Account may be applied by the Administrative Agent as provided in the Collateral Agreement.

Related to Administrative Agent Controlled Account

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

  • Controlled Account means each deposit account and securities account that is subject to an account control agreement in form and substance satisfactory to the Administrative Agent and the L/C Issuer.

  • Administrative Agent’s Account means, for each Currency, an account in respect of such Currency designated by the Administrative Agent in a notice to the Borrower and the Lenders.

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • Administrative Agent Fee Letter means that certain fee letter agreement that shall be entered into between the Borrower and the Administrative Agent in connection with the transactions contemplated by this Agreement, as amended, modified, supplemented, restated or replaced from time to time in accordance with the terms thereof.

  • Administrative Agent Fee shall have the meaning assigned to such term in Section 2.05(b).

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • Administrative Agent Fees shall have the meaning assigned to such term in Section 2.05(b).

  • Administrative Agent’s Fee Letter means that certain letter agreement, dated as of October 17, 1997, between the Agent and the Borrower, as amended, modified, supplemented or replaced from time to time.

  • ABL Administrative Agent means Bank of America in its capacity as administrative agent and collateral agent under the ABL Facilities Documentation, or any successor administrative agent and collateral agent under the ABL Facilities Documentation.

  • First Lien Administrative Agent means the “Administrative Agent” as defined in the First Lien Credit Agreement.

  • Administrative Agent’s Letter shall have the meaning specified in Section 10.9 [Administrative Agent’s Fee].

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Agent Account means an account in the name of the Agent designated by the Agent to the Borrower from time to time into which the Borrower shall make all payments to the Agent, for the account of the Agent or the Lenders, as the case may be, under this Agreement.

  • Administrative Agent means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.

  • Term Administrative Agent shall have the meaning set forth in the recitals hereto.

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Administrative Agent’s Office means the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Collateral Agent Fee Letter means the fee letter between the Collateral Agent and the Borrower setting forth the fees and other amounts payable by the Borrower to the Collateral Agent, the Custodian and the Securities Intermediary under the Facility Documents, in connection with the transactions contemplated by this Agreement.

  • Canadian Administrative Agent means Royal Bank of Canada in its capacity as Canadian administrative agent for the lenders party to the Canadian Credit Agreement and any successor thereto.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.