LC Escrow Account definition

LC Escrow Account means that certain deposit account no. 7959637 Kratos Def Ultra Electronics Def SL with SunTrust established pursuant to that certain Cash Collateral Escrow Agreement dated as of August 21, 2015, among the Borrower, Herley, Ultra Electronics Defense Inc., a Delaware corporation, and Ultra Electronics Holdings plc, a public limited company formed under the laws of England and Wales.
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LC Escrow Account means that certain deposit account no. 0000000 Kratos Def Ultra Electronics Def SL with SunTrust established pursuant to that certain Cash Collateral Escrow Agreement dated as of August 21, 2015, among the Borrower, Xxxxxx, Ultra Electronics Defense Inc., a Delaware corporation, and Ultra Electronics Holdings plc, a public limited company formed under the laws of England and Wales. “LC Escrow Amount” means, at any time, the aggregate amount on deposit at such time in the LC Escrow Account. “Third Amendment” means that certain Third Amendment to Credit and Security Agreement, Limited Consent and Waiver dated as of May 31, 2015, by and among the Borrower, each of the other Credit Parties identified as such on the signature pages thereof, each of the lenders signatory thereto constituting the Required Lenders and Agent.” (b) Amendment to Section 5.7
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LC Escrow Account means that certain escrow account established pursuant to Article III.J to hold the LC Cash Collateral.
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Examples of LC Escrow Account in a sentence

  • The L/C Escrow Account entails no responsibility on Xxxxxx's part beyond compliance with the terms of this Agreement, including without limitation the payment of the items for which the L/C Escrow Account is held in accordance with the Lease and the terms hereof and beyond the allowing of due credit for the sums actually received.

  • Upon commencement of the Monetization, the Debtors shall establish the LC Escrow Account to hold the released LC Cash Collateral.

  • Upon the occurrence of the Monetization Date, the Reorganized Debtors shall, from the LC Escrow Account, pay Plan Administrative Claim Settlement Claimants that have elected Deferred Treatment and to Individual Administrative Claim Settlement Claimants who are entitled to a distribution from the LC Escrow Account, as an Additional Administrative Recovery, the lesser of (i) 50% of the LC Cash Collateral and (ii) 57.5% of the Allowed amount of such Allowed Administrative Claims.

  • Until such time as this Agreement is released in accordance with Section 15 hereof, Borrower hereby waives all right to draw upon the Letter of Credit and to withdraw funds from the L/C Escrow Account except as provided for herein.

  • As to the averment of non-furnishing of the Letter of Credit (LC), Escrow Account, and Deed of Hypothecation, the Respondent, TUL vide its letter dated 4.11.2022 itself agreed to extend the timing for furnishing the Payment Security Mechanism (PSM), including the LC till 31.3.2023.

  • Lender shall have no obligation to credit Borrower with any interest on the funds held in the L/C Escrow Account.

  • The Debtors and Reorganized Debtors (as applicable) shall hold any LC Cash Collateral that they receive in trust for the beneficiaries of the LC Escrow Account and shall expeditiously deposit any such LC Cash Collateral into the LC Escrow Account.

  • Xxxxxxxx hereby knowingly, voluntarily and intentionally stipulates, acknowledges and agrees that the disbursement of the funds from the L/C Escrow Account as set forth herein is at Borrower's direction and is not the exercise by Lender of any right of set-off or other remedy upon a default or an Event of Default under the Loan Documents.


More Definitions of LC Escrow Account

LC Escrow Account means that certain deposit account no. 0000000 Kratos Def Ultra Electronics Def SL with SunTrust established pursuant to that certain Cash Collateral Escrow Agreement dated as of August 21, 2015, among the Borrower, Xxxxxx, Ultra Electronics Defense Inc., a Delaware corporation, and Ultra Electronics Holdings plc, a public limited company formed under the laws of England and Wales.
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Related to LC Escrow Account

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Indemnity Escrow Account has the meaning set forth in Section 2.3(c).

  • Escrow Accounts means any escrow account in which Escrowed Proceeds are deposited and held.

  • Adjustment Escrow Account has the meaning set forth in Section 2.4(a)(i).

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Escrow Deposit has the meaning set forth in Section 3.3.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

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

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Interest Reserve Account As defined in Section 3.4(d).

  • Indemnity Escrow Amount means $5,000,000.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.