Cash Trap Account definition
Cash Trap Account shall have the meaning assigned to such term in the Cash Trap Account Security Agreement.
Cash Trap Account means the account designated as such under Clause 18.1 (Designation of Accounts) and includes any replacement of that Account.
Cash Trap Account means a securities or deposit account of the Borrower established with an Acceptable Account Bank and designated as the “Cash Trap Account” in writing by the Borrower to the Administrative Agent.
Examples of Cash Trap Account in a sentence
So long as no Cash Trap Event has occurred and is continuing, funds on deposit in the Cash Trap Account may, at the discretion of the Borrower, be immediately transferred to the Available Cash Account.
The Borrower shall deposit, or cause to be deposited, in the Cash Trap Account all amounts transferred from the Available Cash Account pursuant to Section 2.20(b)(vii).
More Definitions of Cash Trap Account
Cash Trap Account as defined in Section 2.1(b)(v).
Cash Trap Account has the meaning set forth in Section 3.13(c).
Cash Trap Account means the account designated as such in Schedule 14.1.1 – Transaction Accounts. “Cash Trap Event” is defined in Section 17.1. “Change of Control” and “control” is defined in Section 3.2. “Coba Deposit Account” means the accounts designated as such (and further described) in Schedule 14.
Cash Trap Account in writing by the Initial Borrower to the Administrative Agent. “Cash Trap Event” shall mean the occurrence and continuance of a material breach of the Master Services Agreement (for the avoidance of doubt, solely as they relate to Phoenix 1) giving rise to termination rights as they relate to Phoenix 1 by (a) OpenAI OpCo, LLC or (b) the Co-Borrower (but solely as a result of the failure of OpenAI OpCo, LLC to pay all amounts required to be paid by it to the Co- Borrower under the Master Services Agreement for three consecutive months), in either case, pursuant to Section 10b of the Master Services Agreement. “Casualty Event” shall mean any event that causes all or a portion of any Infrastructure or Uncontracted Infrastructure to be materially damaged, destroyed or rendered unfit for its intended use for any reason whatsoever. A “Change in Control” shall be deemed to occur if, at any time: (a) the Parent or any successors or assigns shall cease to Control or beneficially directly or indirectly own 100% of the issued and outstanding Equity Interests of CoreWeave Debt Holdco I, LLC;
Cash Trap Account means the account of the Borrower described as such in schedule 3 of the Security Agreement. “Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty; (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority; (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary: (i) the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith shall be deemed to be a “Change in Law,” regardless of the date enacted, adopted or issued; and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III or Basel IV, will not be treated as having been adopted or having come into effect before the date of this Agreement, and any such Change in Law based on Basel III or Basel IV shall be determined to be adopted only when the national banking supervisory authorities, or other relevant administrative or legislative bodies having jurisdiction or regulatory authority over the a Lender, adopt any such Change in Law based on Basel III or Basel IV in a jurisdiction applicable to the such Lender.
Cash Trap Account means the bank account opened in the name of the Issuer with the
Cash Trap Account has the meaning given such term in Section 4.27(c) hereof.