Facility LC Collateral Account is defined in Section 2.19.11.
Facility LC Collateral Account means a special, interest-bearing account maintained (pursuant to arrangements satisfactory to the Agent) at the Agent’s office at the address specified pursuant to Article XIV, which account shall be in the name of the Company but under the sole dominium and control of the Agent, for the benefit of the Banks.
Facility LC Collateral Account is defined in Section 2.1.2(j).
Examples of Facility LC Collateral Account in a sentence
The Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of Bank One having a maturity not exceeding 30 days.
The Administrative Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of U.S. Bank having a maturity not exceeding thirty (30) days.
At any time while any Default is continuing, neither the Borrower nor any Person claiming on behalf of or through the Borrower shall have any right to withdraw any of the funds held in the Facility LC Collateral Account.
At any time while any Event of Default is continuing, neither the Borrower nor any Person claiming on behalf of or through the Borrower shall have any right to withdraw any of the funds held in the Facility LC Collateral Account.
If at any time while any Event of Default is continuing, the Administrative Agent determines that the Collateral Shortfall Amount at such time is greater than zero, the Administrative Agent may make demand on the Borrower to pay, and the Borrower will, forthwith upon such demand and without any further notice or act, pay to the Administrative Agent the Collateral Shortfall Amount, which funds shall be deposited in the Facility LC Collateral Account.
More Definitions of Facility LC Collateral Account
Facility LC Collateral Account at the Administrative Agent’s office at the address specified pursuant to Article XIV, in the name of such Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower shall have no interest other than as set forth in this Section 2.21.11. Each Borrower hereby pledges, assigns and grants to the Administrative Agent, on behalf of and for the ratable benefit of the Lenders and the LC Issuers, a security interest in all of such Borrower’s right, title and interest in and to all funds which may from time to time be on deposit in the Facility LC Collateral Account to secure the prompt and complete payment and performance of the Obligations. The Administrative Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of JPMorgan having a maturity not exceeding 30 days. Nothing in this Section 2.21.11 shall either obligate the Administrative Agent to require the Borrowers to deposit any funds in the Facility LC Collateral Account or limit the right of the Administrative Agent to release any funds held in the Facility LC Collateral Account in each case other than as required by clause (iv) below.
Facility LC Collateral Account is defined in Section 2.4(k).
Facility LC Collateral Account in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Revolving Lenders and in which the Borrower shall have no interest other than as set forth in Section 8.1. The Borrower hereby pledges, assigns and grants to the Administrative Agent, on behalf of and for the ratable benefit of the Revolving Lenders and the LC Issuers, a security interest in all of the Borrower’s right, title and interest in and to all funds which may from time to time be on deposit in the Facility LC Collateral Account to secure the prompt and complete payment and performance of the Obligations. The Administrative Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of U.S. Bank having a maturity not exceeding thirty (30) days. Nothing in this Section 2.19(k) shall either (i) obligate Borrower to deposit any funds in the Facility LC Collateral Account, (ii) obligate the Administrative Agent to require the Borrower to deposit any funds in the Facility LC Collateral Account or (iii) limit the right of the Administrative Agent to release any funds held in the Facility LC Collateral Account, in each case other than as required by Section 2.2, Section 2.19(l), Section 2.22 or Section 8.1.
Facility LC Collateral Account is defined in Section 4.10.
Facility LC Collateral Account is defined in Section 2.18(i). “Facility LC Maturity Date” is defined in Section 2.18(a).
Facility LC Collateral Account is defined in Section 2.19.11. "Facility Termination Date" means May 20, 2009, or any earlier date on which the Aggregate Commitment is reduced to zero or otherwise terminated pursuant to the terms hereof. "Family Group" means all Persons who are members of the combined, extended families of Xx. Xxxxxx Xxxxx and Xx. Xxxxxxx Xxxxx, both of Xxxxxx County, Indiana, including, but not limited to:
Facility LC Collateral Account at, in the case of the Domestic Borrower, the Agent’s office at the address specified pursuant to Article XIII (or such other office in the U.S. as the Agent may request), in the case of the Canadian Borrower, at the Canadian Correspondent Lender’s office at the address specified pursuant to Article XIII (or such other office in Canada as the Canadian Correspondent Lender may request) and, in the case of the UK Borrowers, at the UK Correspondent Lender’s office at the address specified pursuant to Article XIII (or such other office in the UK as the UK Correspondent Lender may request), in the name of such Borrower but under the sole dominion and control of the Agent, the Canadian Correspondent Lender, or the UK Correspondent Lender, as the case may be, for the benefit of the Lenders, and in which such Borrower shall have no interest other than as set forth in Section 8.1. The applicable Borrower hereby pledges, assigns and grants to the Agent, the Canadian Correspondent Lender, or the UK Correspondent Lender, as the case may be, on behalf of and for the ratable benefit of the Lenders and the LC Issuer, a security interest in all of such Borrower’s right, title and interest in and to all funds which may from time to time be on deposit in the applicable Facility LC Collateral Account to secure the prompt and complete payment and performance of the Secured Obligations or the applicable Secured Foreign Obligations, as the case may be. The Agent, the Canadian Correspondent Lender, or the UK Correspondent Lender, as the case may be, (i) will invest any funds on deposit from time to time in any Facility LC Collateral Account in certificates of deposit (or the Canadian or UK equivalent) having a maturity not exceeding thirty days or (ii) pay to the applicable Borrower a competitive credit interest. Nothing in this Section 2.1.2(j) shall either obligate the Agent, the Canadian Correspondent Lender, or the UK Correspondent Lender, as the case may be, to require such Borrower to deposit any funds in the Facility LC Collateral Account or limit the right of the Agent, the Canadian Correspondent Lender, or the UK Correspondent Lender, as the case may be, to release any funds held in the Facility LC Collateral Account in each case other than as required by Section 8.1.