Cash Dominion definition

Cash Dominion as defined in subsection 7.2.4.
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Cash Dominion means the control by the Lender of the Loan Parties’ cash receipts and the application thereof to the Exposure in accordance with Article VII of the Security Agreement
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Cash Dominion. The Borrower will continue its current cash management system. Upon the occurrence of trigger events to be agreed by the Agents and the Borrower, the Collateral Agent, upon its determination or upon request by the Majority Banks, may deliver cash sweep notices, requiring funds in the blocked accounts to be swept to a single concentration account. After delivery of cash sweep notices, unless required to do otherwise pursuant to intercreditor arrangements, the Collateral Agent will use each day's proceeds to reduce outstanding obligations under the Revolving Facility and thereafter to deposit into a cash sweep cash collateral account for the benefit of the Senior Facility secured parties, as collateral for the payment and performance of the Senior Facility obligations. As long as no default or event of default shall have occurred and be continuing, the Borrower will have access to the Revolving Facility during a cash sweep period. The Collateral Agent may send a cash sweep notice on each occasion of the occurrence of a trigger event. During a cash sweep period, upon the occurrence of certain events to be agreed by the Agents and the Borrower, the Collateral Agent shall automatically rescind any Cash Sweep Notice.
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Examples of Cash Dominion in a sentence

  • Unless an Excess Availability Triggering Event or a Default or Event of Default has occurred and is continuing, the Administrative Agent waives Cash Dominion except for the Collection Accounts designated in the Accounts Side Letter.

  • At any time Cash Dominion is in existence, Administrative Agent shall have the right to issue to any such banks irrevocable instructions directing such banks to remit all payments or other remittances received in the blocked accounts to an account of Administrative Agent for application on account of the Obligations as provided herein.

  • Upon the occurrence and during the continuance of a Cash Dominion Trigger Period, the Borrower shall prepay the principal amount of Revolving Credit Loans outstanding, if any, to the extent required by Section 6.16(b) hereof.


More Definitions of Cash Dominion

Cash Dominion. The Borrowers shall be required to enter into account control agreements on the Borrowers’ concentration accounts and other accounts to be mutually determined (with exceptions for certain accounts to be agreed) within 90 days after the Closing Date (or such longer period as the Administrative Agent may reasonably agree). The Borrowers shall be required to maintain a main cash concentration account and blocked accounts with a financial institution reasonably acceptable to the Administrative Agent into which all proceeds of the ABL Priority Collateral are deposited (subject to mutually agreeable exceptions). The Administrative Agent shall have the right, during a Liquidity Period, to cause all amounts on deposit in any blocked account to be transferred to the main concentration account at the end of each business day. During a Liquidity Period, the Administrative Agent shall have the right to require that all amounts on deposit in the main concentration account be applied on a daily basis by the Administrative Agent to reduce loans outstanding under the ABL Facility. Amounts so prepaid shall, subject to the terms and conditions of the ABL Facility Documents, be available to be reborrowed.
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Cash Dominion. Required when excess availability falls below the greater of (i) $20,000,000 and (ii) the lesser of (a) 18% of Facility and (b) 18% of the Borrowing Base. Availability: Pricing: Arrangement Fee: Closing Fee: Unused Fee: Pricing Grid: The Revolver will be undrawn at close other than letters of credit. 1.5% of allocated commitment amount. 2.0% of allocated commitment amount. 1.0% if usage < 50% of Facility, otherwise 0.75%. LIBOR Grid: 425 to 475bps, opening at 450bps. Base Rate Grid: 325 to 375bps, opening at 350bps. EXHIBIT I PREPACKAGED PLAN TERMS
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Cash Dominion shall have the meaning set forth in Section 6.3(a)(ii).
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Cash Dominion. All cash of the Borrower and its Subsidiaries will be subject to cash dominion (a) at all times during the period beginning on the Closing Date and ending on the date the Borrower’s consolidated monthly financial statements for the 6th month ending after the Closing Date have been delivered to the Exit ABL Agent and (b) at any other time that a Covenant/Dominion Trigger Period has occurred and is continuing
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Related to Cash Dominion

  • Dominion Period has the meaning given to such term in the Intercreditor Agreement.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Dominion Account a special account established by Borrowers at Bank of America or another bank reasonably acceptable to Agent, which is subject at all times to a Deposit Account Control Agreement.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Deposit Account Control Agreement means an agreement in a form that is reasonably satisfactory to the Administrative Agent establishing the Administrative Agent’s Control with respect to any Deposit Account.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.