LC Collateral Account definition

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

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LC Collateral Account means a collateral account in the form of a deposit account established and maintained by the Administrative Agent for the benefit of the Secured Creditors, in accordance with the provisions of Section 2.13.

LC Collateral Account has the meaning specified in Section 2.04(b).

Examples of LC Collateral Account in a sentence

The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over the LC Collateral Account and the Borrowers hereby grant the Administrative Agent a security interest in the LC Collateral Account and all money or other assets on deposit therein or credited thereto.
Interest or profits, if any, on such investments shall accumulate in the LC Collateral Account.
In addition, and without limiting the foregoing or paragraph (c) of this Section, if any LC Exposure remains outstanding after the expiration date specified in clauses (i) or (ii) of paragraph (c), the Borrowers shall immediately deposit in the LC Collateral Account an amount in cash equal to 103% of the face value of each such Letter of Credit that extends beyond the expiration date specified in said paragraph (c) as of such date plus any accrued and unpaid fees or interest thereon.

More Definitions of LC Collateral Account

LC Collateral Account has the meaning specified in Section 6.02.

LC Collateral Account means the account designated as the LC Collateral Account established and maintained by the Administrator (for the benefit of the LC Bank and the LC Participants), or such other account as may be so designated as such by the Administrator.

LC Collateral Account is defined in Section 2.19(k).

LC Collateral Account means a blocked deposit account held by the Administrative Agent.

LC Collateral Account means the account at any time designated as the LC Collateral Account established and maintained by the Administrative Agent (for the benefit of the LC Bank and the Lenders), or such other account as may be so designated as such by the Administrative Agent.

LC Collateral Account means, with respect to each LC Bank, the account at any time designated as the LC Collateral Account for such LC Bank and established and maintained by the Administrative Agent (for the benefit of such LC Bank and the Related LC Participants), or such other account as may be so designated as such by the Administrative Agent. As of the Closing Date, no such account(s) have been opened.

LC Collateral Account means, individually or collectively as the context may require, the U.S. LC Collateral Account and the Non-U.S. LC Collateral Account.