L/C Cash Collateral Account definition

L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

L/C Cash Collateral Account has the meaning specified in the Security Agreement.

L/C Cash Collateral Account has the meaning specified in Section 7.02(b).

Examples of L/C Cash Collateral Account in a sentence

• Upon the drawing of any Letter of Credit, to the extent funds are on deposit in the L/C Cash Collateral Account, such funds shall be applied to reimburse the Issuing Banks to the extent permitted by applicable law.

• Interest and proceeds that are not invested or reinvested in Cash Equivalents as provided above shall be deposited and held in the L/C Cash Collateral Account.

• Upon the drawing of any Letter of Credit for which funds are on deposit in the L/C Cash Collateral Account, such funds shall be applied to reimburse the relevant Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law.

• In addition, the Administrative Agent shall have the right at any time to exchange such Cash Equivalents for similar Cash Equivalents of smaller or larger determinations, or for other Cash Equivalents, credited to the L/C Cash Collateral Account.

• Such cash collateral shall be maintained in the L/C Cash Collateral Account.

More Definitions of L/C Cash Collateral Account

L/C Cash Collateral Account has the meaning specified in Section 2.16(g) hereof.

L/C Cash Collateral Account has the meaning specified in the Preliminary Statements to the Security Agreement.

L/C Cash Collateral Account as defined in Section 3.1(c).

L/C Cash Collateral Account means any Cash Collateral Account (a) specifically designated as such by Borrowers in a notice to 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.

L/C Cash Collateral Account means the l/c cash collateral deposit account, Account No. 00000000, with Citibank, as securities intermediary and depository bank, at its office at Xxx Xxxxx Xxx, 0xx Xxxxx, Xxx Xxxxxx, Xxxxxxxx 00000, in the name of the Borrower but under the sole control and dominion of the Administrative Agent and subject to the terms of this Agreement.

L/C Cash Collateral Account means the account of the Borrowers to be maintained with the Administrative Agent, in the name of the Administrative Agent and under the sole control and dominion of the Administrative Agent and subject to the terms of this Agreement.

L/C Cash Collateral Account shall have the meaning assigned to such term in Section 9.1.