Letter of Credit Account definition

Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Collateral Agent maintained at the office of the Collateral Agent at ▇▇▇▇▇▇ Square North, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ designated as the “Spirit Pledge Account” that shall be used solely for the purposes set forth herein.

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Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ designated as the "McLeodUSA Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.03(a), 2.03(b) and 2.13.

Letter of Credit Account means the account established by the Borrower after the Closing Date under the sole and exclusive control of the Collateral Agent maintained at the office of the Collateral Agent, which shall be used solely for the purposes set forth herein.

Examples of Letter of Credit Account in a sentence

• The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over the Letter of Credit Account.

• Cash held in the Letter of Credit Account shall not be available for use by the Borrower, and shall be released to the Borrower only as described in Section 2.02(j).

• The Borrower and the Guarantors hereby pledge to the Collateral Agent, for its benefit and for the benefit of the other Secured Parties, and hereby grant to the Collateral Agent, for its benefit and for the benefit of the other Secured Parties, a first priority security interest, senior to all other Liens, if any, in all of the Borrower’s and the Guarantors’ right, title and interest in and to the Letter of Credit Account, any direct investment of the funds contained therein and any proceeds thereof.

• Amounts in the Letter of Credit Account shall not be subject to the Carve-Out.

• Cash held in the Letter of Credit Account shall not be available for use by the Borrower, whether pursuant to Section 363 of the Bankruptcy Code or otherwise and shall be released to the Borrower as described in clause (ii)(y) of Section 2.03(b).

More Definitions of Letter of Credit Account

Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 270 Park Avenue, New York, New York 10017 designated as the "Delphi ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇" ▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇sed solely for the purposes set forth herein.

Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 270 Park Avenue, New York, NY 10017, designated as the “United Airlines L/C Account” that shall be used solely for the purposes set forth herein.

Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Paying Agent maintained at the office of the Paying Agent at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ designated as the “United Airlines LC Account” that shall be used solely for the purposes set forth herein.

Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 2▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

Letter of Credit Account means the non-interest bearing account established by the U.S. Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ designated as the “Smurfit-Stone U.S. Letter of Credit Account” that shall be used solely for the purposes set forth in Section 2.4(c) and Section 2.14.

Letter of Credit Account means the account so designated which is established and created as a separate account within the Bond Fund pursuant to Section 402 of the Indenture;

Letter of Credit Account means the account of that name established in the Revenue Fund pursuant to Section 5.03 hereof.