Current Collateral definition

Current Collateral means for Borrowers, on a consolidated basis, all in accordance with GAAP, (i) all Current Assets, less (ii) the sum of (x) Borrower's current assets which are classified on Borrowers' consolidated balance sheet as "prepaid expenses", excluding the amount of interest prepaid on the Term Notes, and otherwise included in prepaid expenses, (y) Borrowers' current liabilities which are classified on Borrowers' consolidated balance sheet as "accounts payable", and (z) all of Borrowers' current liabilities which are classified on Borrowers' consolidated balance sheet as "timber contracts payable."
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Current Collateral means the cost of the Collateral (including Soft Collateral) described in any Loan Schedule.
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Current Collateral means, for any day, all cash and Acceptable Letters of Credit posted by or on behalf of the Sleeve Obligors to the Merrill Parties pursuant to clauses (a)(i)(1) or (a)(ii)(A) of Section 10 of this Agreement, which as of such day has not theretofore been applied or used by the Merrill Parties to satisfy any Credit Sleeve Obligation or otherwise returned to NRG.
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Examples of Current Collateral in a sentence

  • Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Facsimile: ▇▇▇-▇▇▇-▇▇▇▇ Current Collateral Manager: ATP Management LLC c/o Fortress Investment Group LLC ▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇ ▇▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Facsimile: ▇▇▇-▇▇▇-▇▇▇▇ With copies to: Fortress Investment Group LLC ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇ ▇.

  • Name: Title: Name: Title: Name: Title: The Current Collateral Manager executes this agreement in its individual capacity solely for purposes of acknowledging its agreement to the provisions of Sections 5(b)-(c) of this Agreement.

  • Pursuant to a Substitution of Collateral Agreement dated the same date as this Agreement, the Borrowers have requested and Lender has agreed to release the Current Collateral on the condition that Pledgor grant to Lender a security interest in 68 Units constituting sixty eight percent (68%) of the outstanding membership interests of the Company (the “Pledged Membership Interests”) to secure the Borrowers’ obligations under the Note and the other Transaction Documents.

  • Each of the Borrowers has full power, authority and legal right to own and operate the properties which it now owns and operates, and to carry on the lines of business in which it is now engaged, and Unit Drilling Company has good and marketable title to the Current Collateral and the applicable Borrowers who own the Additional Collateral have good and marketable title thereto subject to no Lien of any kind except Liens permitted by this Agreement.

  • If and to the extent that any of the terms or provisions of the Current Note Purchase Agreement, any Current Collateral Document or any other Financing Agreement are in conflict or inconsistent with any of the terms or provisions of this Amendment, this Amendment shall govern.

  • Except as amended herein, all terms and provisions of the Current Note Purchase Agreement, each Current Collateral Document and all other Financing Agreements and all agreements and instruments related thereto are hereby ratified, confirmed and approved in all respects.

  • For the avoidance of doubt, all references to the “Notes” or the “Fixed Rate Notes” in each Current Collateral Document shall be deemed a reference to the Series 2011 Notes and the Series 2012 Notes.

  • This Amendment shall, in no way, be deemed as a novation of the terms of the Current Note Purchase Agreement, any Current Collateral Document or the Series 2011 Notes.

  • Pursuant to the terms hereof and subject to the satisfaction of the conditions set forth in Section 6 hereof, the Current Administrative Agent and Current Collateral Agent are hereby directed and instructed by each party hereto to execute and deliver the Amended and Restated Credit Agreement (on behalf of the Lenders and Agents party hereto).

  • The Borrowers shall have delivered to the Agent this Loan Agreement and the First Amended Security Agreement, each appropriately executed by the appropriate parties and, where applicable, acknowledged to the satisfaction of the Banks and dated as of the Closing Date, together with such financing statements, transfer orders, letters in lieu and other documents as shall be necessary and appropriate to perfect the security interests in the Current Collateral covered by said Security Instruments.