Enforcement Proceeds Account definition

Enforcement Proceeds Account has the meaning set forth in Section 6.05.
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Enforcement Proceeds Account has the meaning set forth in Section 10.11.
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Enforcement Proceeds Account. ’ means the account in the name of the Security Trustee to be named the ‘‘Enforcement Proceeds Account’’ and to be established by the Security Trustee with the Account Bank upon taking any enforcement action with respect to the Notes pursuant to the Common Security Agreement.
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Examples of Enforcement Proceeds Account in a sentence

  • The Collateral Agent is hereby directed to deposit in, or credit to, the Enforcement Proceeds Account, all Enforcement Proceeds.

  • All Enforcement Proceeds held in the Enforcement Proceeds Account shall be trust funds held by the Collateral Agent for the benefit of the Secured Parties for the purpose of making payments therefrom in accordance with Section 6.06.

  • All moneys held in the Enforcement Proceeds Account shall be trust funds held by the Collateral Trustee for the benefit of Secured Parties for the purpose of making payments therefrom in accordance with Section 10.12.

  • All Enforcement Proceeds held in the Enforcement Proceeds Account shall be trust funds held by the Collateral Agent for the benefit of the Secured Parties for the purpose of making payments therefrom in accordance with Section 6.11.

  • Any recovery of judgment by the Collateral Trustee shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Collateral Trustee, its agents and counsel, be for the benefit of the Secured Parties and deposited to the Enforcement Proceeds Account for application as provided in Section 10.12.

  • Upon the occurrence and during the continuance of an Event of Default and the taking of any Enforcement Action, the Collateral Agent shall establish and thereafter maintain an account (the "Enforcement Proceeds Account") for the purposes of depositing therein any Enforcement Proceeds received in respect of the Collateral.

  • Upon the drawing of any Refinancing Letter of Credit for which funds are on deposit in the Enforcement Proceeds Account or the Cash Collateral Account (Refinancing Lenders), such funds shall be applied to reimburse the Refinancing Issuing Bank or Refinancing Lenders, as applicable, to the extent permitted by Applicable Law.

  • The Enforcement Proceeds Account shall consist of two subaccounts: (a) a Springdale Enforcement Proceeds Account (the “Springdale Enforcement Proceeds Sub-Account”) and (b) a General Enforcement Proceeds Account (the “General Enforcement Proceeds Sub-Account”).

  • Upon the occurrence and during the continuance of an Event of Default and the taking any Enforcement Action, the Collateral Agent shall establish and thereafter maintain an account (the "Enforcement Proceeds Account") for the purposes of depositing therein any Enforcement Proceeds received in respect of the Collateral.

  • Upon receipt of a Remedies Notice, the Collateral Agent shall establish and thereafter maintain an account (the "Enforcement Proceeds Account") for the purposes of depositing therein any Enforcement Proceeds received in respect of the Collateral.


More Definitions of Enforcement Proceeds Account

Enforcement Proceeds Account has the meaning specified in the Security Agreement.
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Related to Enforcement Proceeds Account

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

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

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • 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 Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • 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.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Proceeds Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent on or prior to the First Issue Date in respect of a first priority pledge over the Proceeds Account and all funds held on the Proceeds Account from time to time, granted in favour of the Agent and the Bondholders (represented by the Agent).

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

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • 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.

  • Dominion Account shall have the meaning assigned to such term in Section 5.11(b).

  • Concentration Account has the meaning provided in Section 6.13(c).