Asset Sale Proceeds Account definition

Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

Asset Sale Proceeds Account means one or more deposit accounts or securities accounts (as such terms are defined in the Uniform Commercial Code) containing only the Net Cash Proceeds of Asset Sales or any Below Threshold Asset Sale Proceeds, any investments thereof in Cash Equivalents and the proceeds thereof, pending the application of such Net Cash Proceeds in accordance with Section 2.08(1), which accounts have been pledged to the Collateral Agent, for the benefit of the Secured Parties, on a first-priority basis pursuant to documentation in form and substance reasonably satisfactory to the Collateral Agent.

Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding solely the proceeds of any sale or other disposition of any Notes Priority Collateral (and only such Collateral) that are required to be held in such account or accounts pursuant to the terms of any Qualified Secured Debt Document to the extent that (x) any such Indebtedness has a Lien on the Notes Priority Collateral that is senior to the Lien of the Obligations on such Notes Priority Collateral and (y) any such deposit accounts or securities accounts are subject to the terms of the Intercreditor Agreement and are being held for the benefit of the Secured Parties as well.

Examples of Asset Sale Proceeds Account in a sentence

• Secured Party shall also have such rights and remedies in respect of such Collateral as are set forth in the Asset Sale Proceeds Account Control Agreement.

• All amounts and proceeds in the Asset Sale Proceeds Account may, in the discretion of Secured Party during the continuance of an Event of Default, (i) be held by Secured Party as collateral for the Secured Obligations and/or (ii) then or at any time thereafter be applied pursuant to Section 12 hereof.

• Schedule 5 annexed hereto indicates the institution or intermediary at which the Asset Sale Proceeds Account is held and the account number.

• Except as otherwise provided in this Agreement, the Special Purpose Subsidiary shall not engage in any business activity other than entering into the Asset Sale Proceeds Account Agreement and performing all of its obligations thereunder.

• Schedule 7 annexed hereto lists all Deposit Accounts and Securities Accounts owned by each Grantor that contain assets exceeding $100,000 in value (including, without limitation, the Asset Sale Proceeds Account) and indicates the institution or intermediary at which each such account is held and the account number.

More Definitions of Asset Sale Proceeds Account

Asset Sale Proceeds Account means one or more Deposit Accounts established by the TL Collateral Agent into which there shall be deposited proceeds of sales or dispositions of TL Priority Collateral (to the extent such proceeds constitute TL Priority Collateral).

Asset Sale Proceeds Account means the account established with Account Bank and designated “NextWave Wireless LLC — Asset Sale Proceeds Accnt”, as more fully described in Section 1 of the Asset Sale Proceeds Account Control Agreement, any replacement for such account established with the written consent of the Required Holders and any other account in which any investment of funds from such account may be held.

Asset Sale Proceeds Account means an account of the Company established with UBS Financial Services, Inc. or another financial institution reasonably satisfactory to the Purchasers, for the purpose set forth in Section 5.10 and subject to an Account Control Agreement.

Asset Sale Proceeds Account means one or more deposit accounts or securities accounts (as such terms are defined in the Uniform Commercial Code) containing only the Net Proceeds (or the cash proceeds that, but for the first proviso of the definition of “Net Proceeds”, would constitute Net Proceeds) of Asset Sales, any investments thereof in Permitted Investments and the proceeds thereof, pending the application of such Net Proceeds in accordance with Section 2.09.

Asset Sale Proceeds Account means an account established and maintained by the Trustee under this Indenture into which proceeds of Asset Sales hereunder are to be deposited from time to time in accordance with the provisions of this Indenture or established and maintained under the last paragraph of Article III of the Intercreditor Agreement.

Asset Sale Proceeds Account means a segregated deposit account under the sole control of the DIP Term Agent which contains only proceeds from the sale of DIP Term Priority Collateral and any interest earned thereon.

Asset Sale Proceeds Account shall have the meaning assigned to such term in the Indenture as in effect on the date hereof.