Credit Card Cash Collateral definition

Credit Card Cash Collateral means an amount not to exceed $2,000,000 pledged to Bank of America, N.A., and deposited in the Bank of America, N.A. Account No. XXXXXX5481, pursuant to the Credit Card Control Agreement as security exclusively for the obligations under the P-Card Agreements.
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Credit Card Cash Collateral means a certificate of deposit or time deposit account maintained at Bank in the principal amount of approximately $50,000 pledged by Borrower to Bank to secure Borrower’s obligations to Bank under a corporate credit card program arranged by Bank for the account of Borrower.
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Examples of Credit Card Cash Collateral in a sentence

  • To the extent the Debtors fail to pay any obligations under the Corporate Credit Cards as and when due, the Bank may exercise remedies against the cash in the Credit Card Cash Collateral Account in respect of such unpaid obligations upon no less than five (5) business days’ priornotice to the Court and the Debtors, including by set-off.

  • The Debtors are hereby authorized and directed to deposit and maintain at all times during these Chapter 11 Cases no less than $50,000 of cash into a segregated account at BMO Harris Bank (the “ Credit Card Cash Collateral Account”).

  • As of the Petition Date, the Credit Card Cash Collateral Account has an aggregate cash balance of $7,875.00.

  • Our priorities for this growth can be found in the Infrastructure section of this plan.In the past NDCS has received considerable help with technology from various corporate partners.

  • The Bank has first priority lien on all cash in the Credit Card Cash Collateral Account to secure the Debtors’ obligations in respect of its Corporate Credit Cards.

  • The Debtors have also cash collateralized the Vendor Credit Card Program by depositing $800,000 in cash in the Vendor Credit Card Cash Collateral Account.

  • Resources maintains a separate money market demand account (Account No. XXXXXX1029) (the “ Credit Card Cash Collateral Account”) to secure payment on the Corporate Credit Cards.

  • If the Debtors do not pay outstanding amounts owing, there is a significant risk that (i) the Credit Card Provider would set-off amounts owing against the Credit Card Cash Collateral Accounts, and (ii) the Credit Card Provider could restrict the Debtors’ access to their Credit Card Programs.

  • The Debtors were recently required to cash collateralize the Plastic Credit Card Programs by depositing $50,000 in cash in the Plastic Credit Card Cash Collateral Account.

  • BMO Harris Bank shall have afirst priority lien on all cash in the Credit Card Cash Collateral Account to secure the Debtors’ obligations in respect of its corporate credit cards and no other liens, including any liens granted pursuant to the DIP Order, shall attach to such cash or otherwise prime BMO Harris Bank’s rights therein.

Related to Credit Card Cash Collateral

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Cash Collateral Accounts shall have the meaning given such term in Section 9(a).

  • L/C Cash Collateral Account means any Cash Collateral Account (a) specifically designated as such by the Borrower in a notice to the Administrative Agent and (b) from and after the effectiveness of such notice, not containing any funds other than those required under the Loan Documents to be placed therein.

  • Cash Collateral shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

  • Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Letter of Credit Collateral Account has the meaning assigned to such term in Section 2.05(k).

  • Bank Product Collateralization means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations).

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Credit Card Advance Rate means 90%.

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Cash Collateral Agreement shall have the meaning provided in Section 5.2(b).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Required Cash Collateral Amount shall have the meaning provided in Section 3.7(c).

  • Letter of Credit Collateral has the meaning specified in Section 6.02(b).

  • Cash Collateralization has a correlative meaning.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • Eligible Credit Card Receivables means at the time of any determination thereof, each Credit Card Receivable that satisfies the following criteria at the time of creation and continues to meet the same at the time of such determination: such Credit Card Receivable (i) has been earned by performance and represents the bona fide amounts due to a Borrower from a credit card payment processor and/or credit card issuer, and in each case originated in the ordinary course of business of such Borrower, and (ii) is not ineligible for inclusion in the calculation of the Borrowing Base pursuant to any of clauses (a) through (k) below. Without limiting the foregoing, to qualify as an Eligible Credit Card Receivable, an Account shall indicate no Person other than a Borrower as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Borrower may be obligated to rebate to a customer, a credit card payment processor, or credit card issuer pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Loan Parties to reduce the amount of such Credit Card Receivable. Any Credit Card Receivables meeting the foregoing criteria shall be deemed Eligible Credit Card Receivables but only as long as such Credit Card Receivable is not included within any of the following categories, in which case such Credit Card Receivable shall not constitute an Eligible Credit Card Receivable:

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Credit Card Issuer means any Person (other than a Loan Party) who issues or whose members issue credit cards or debit cards, including, without limitation, MasterCard or VISA bank credit or debit cards or other bank credit or debit cards issued through MasterCard International, Inc., Visa, U.S.A., Inc. or Visa International and American Express, Discover, Diners Club, Xxxxx Xxxxxxx and other non-bank credit or debit cards, including, without limitation, credit or debit cards issued by or through American Express Travel Related Services Company, Inc. or Discover Financial Services, Inc.