Counterparty Downgrade Collateral Account definition

Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

Counterparty Downgrade Collateral Account means, in respect of each Hedge Counterparty and a Hedge Agreement to which it is a party, the account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral (other than cash) is to be deposited or (as the case may be) each interest bearing account of the Issuer with the Account Bank into which all Counterparty Downgrade Collateral (in the form of cash) is to be deposited, in each case in respect of such Hedge Counterparty and such Hedge Agreement, each such account to be named including the name of the relevant Hedge Counterparty.

Counterparty Downgrade Collateral Account means an account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral (other than cash) is to be deposited or (as the case may be) an interest bearing account of the Issuer with the Account Bank into which all Counterparty Downgrade Collateral (in the form of cash) is to be deposited.

Examples of Counterparty Downgrade Collateral Account in a sentence

• Collateral posted to such Counterparty Downgrade Collateral Account is solely for the purposes of, and in connection with, collateralising the Swap Agreements.

• Any cash or securities collateral posted to such Counterparty Downgrade Collateral Account as a result of a ratings downgrade (as referred to in paragraph Termination of the Swap Agreements above) shall be monitored on a specific collateral ledger and any cash collateral shall bear interest.

• Any cash collateral or securities collateral posted to such Counterparty Downgrade Collateral Account as a result of a ratings downgrade (as referred to in paragraph Termination of the Swap Agreements above) shall be monitored on a specific collateral ledger and any cash collateral shall bear interest.

• The Counterparty Downgrade Collateral Account is a cash only account.

• On any Payment Date after satisfaction of the amounts in clause 20.3(a) (Distribution Account; Accumulation Account; Counterparty Downgrade Collateral Account; Swap Provisions) of the Trust Agreement, any positive difference between the General Cash Collateral Amount and the Specified Cash Collateral Account Balance shall be distributed according to the following Order of Priority, provided that no Credit Enhancement Increase Condition is in effect.

More Definitions of Counterparty Downgrade Collateral Account

Counterparty Downgrade Collateral Account means one or more interest-bearing accounts of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

Counterparty Downgrade Collateral Account means an interest bearing account described as such in the name of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited in accordance with Condition 3(i)(x) (Counterparty Downgrade Collateral Account).

Counterparty Downgrade Collateral Account means each interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral provided pursuant to each Hedge Agreement is to be deposited.

Counterparty Downgrade Collateral Account means the counterparty downgrade collateral account of the Issuer established with the Counterparty Downgrade Collateral Account Bank for collateral provided by the Swap Counterparty pursuant to the Swap Agreements. Any cash or securities collateral posted to such Counterparty Downgrade Collateral Account as a result of a ratings downgrade of the Swap Counterparty shall be monitored on a specific ledger and any cash collateral shall bear interest. Such collateral shall be segregated from the Distribution Account and from the general cash flow of the Issuer and shall not constitute Collections.

Counterparty Downgrade Collateral Account means each counterparty downgrade collateral account established by the Security Trustee for collateral provided by the relevant Swap Counterparty pursuant to clause 19.6 (Distribution Account, Cash Collateral Account, Counterparty Downgrade Collateral Account, Swap Provisions) of the Trust Agreement.

Counterparty Downgrade Collateral Account means the account specified in clause 3.1(e) (The Security Trustee as a Party) of the Account Agreement established by the Security Trustee for collateral provided by the Swap Counterparty pursuant to clause 19.6 (

Counterparty Downgrade Collateral Account means a custody account with the Custodian or an interest-bearing account of the Account Bank (each of which shall have the Rating Requirement) into which all Counterparty Downgrade Collateral and Eligible Noteholder Collateral is to be deposited;