Collateralized definition

Collateralized secured by cash collateral arrangements and/or backstop letters of credit entered into on terms and in amounts reasonably satisfactory to the Administrative Agent and the relevant Issuing Lender.

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Collateralized means, with respect to any Letter of Credit, that such Letter of Credit is secured by cash collateral arrangements and/or backstop letters of credit entered into on terms (and, with respect to any such backstop letters of credit, from issuers) reasonably satisfactory to the relevant Issuing Lender; and the terms “Collateralize” and “Collateralization” shall have correlative meanings.

Collateralized means assets pledged by financial institutions in the event of failure of the financial institution.

Examples of Collateralized in a sentence

Each Guarantor hereby subordinates the payment of all indebtedness, obligations, and liabilities of any Borrower or any other Guarantor owing to such Guarantor, whether now existing or hereafter arising, to the payment in full in cash of all Obligations (other than any contingent obligations not due and owing and Letters of Credit Cash Collateralized or other accommodations satisfactory to the L/C Issuers have been made).
Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied (without any further action by or notice to or from the Borrower or any other Loan Party) to reimburse the L/C Issuer or the Revolving Credit Lenders, as applicable.
Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied (without any further action by or notice to or from the Borrower or any other Loan Party) to reimburse the applicable L/C Issuer or the Revolving Credit Lenders, as applicable.
All indemnities and other provisions relative to reimbursement to the Lenders and the L/C Issuers of amounts sufficient to protect the yield of the Lenders and the L/C Issuers with respect to the Loans and Letters of Credit, including, but not limited to, Sections 8.4, 10.4 and 10.12, shall survive the termination of this Agreement and the other Loan Documents and the payment of the Obligations (other than contingent obligations not due and owing or Letters of Credit Cash Collateralized).

More Definitions of Collateralized

Collateralized fully” means that:

Collateralized secured by cash collateral arrangements and/or backstop letters of credit entered into on terms and in amounts reasonably satisfactory to the relevant Issuing Lender; the terms “Collateralize” and “Collateralization” shall have correlative meanings.

Collateralized means transactions for which collateral (money or substitute securities, etc.) is deposited or received.

Collateralized means the securing of a loan with collateral by a recorded and verified Lien. For collateral that is real property, “collateralized” shall mean the recording of a mortgage on real property that has a value (determined by Lincoln Bank based on an appraisal prepared by an independent licensed appraiser selected by Lincoln Bank) sufficient to pay the applicable loan in full subject to satisfaction of all Liens on such real property. For collateral that is cash, securities or life insurance policies, “collateralized” shall mean the placing of a Lien on such property that prevents the disbursement of such cash, securities or life insurance policies without approval from the applicable lender and that provides for quarterly documentation supporting the value of the applicable loan and any other Liens on such property.

Collateralized in relation to a Letter of Credit means deposit with the Agent the deposit amount or “clean” standby letter of credit contemplated by Section 6.02(11).

Collateralized shall have meanings correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

Collateralized shall have a corresponding meaning.