Letter of Credit Cash Collateral Account definition

Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.
Letter of Credit Cash Collateral Account has the meaning described in Section 2.2.3 (Terms of Letters of Credit).
Letter of Credit Cash Collateral Account means a blocked deposit account maintained by the Parent with the Bank in which the Parent hereby grants a security interest to the Bank as security for Letter of Credit Usage and with respect to which the Parent agrees to execute and deliver from time to time such documentation as the Bank may reasonably request to further assure and confirm such security interest.

Examples of Letter of Credit Cash Collateral Account in a sentence

  • Such funds, if any, remaining in the Letter of Credit Cash Collateral Account following the payment of all Obligations in full or the earlier termination of all Events of Default shall, unless the Agent is otherwise directed by a court of competent jurisdiction, be promptly paid over to the Borrower.

  • The Borrower shall have no control over funds in the Letter of Credit Cash Collateral Account, which funds shall be invested by the Agent from time to time in its discretion in certificates of deposit of National City having a maturity not exceeding thirty days.

  • If any Letter of Credit Usage remains outstanding after the Letter of Credit Expiration Date, Borrower shall, not later than the Letter of Credit Expiration Date, deposit cash in an amount equal to such Letter of Credit Usage in a Letter of Credit Cash Collateral Account.

  • The Letter of Credit Cash Collateral Account is to be held by the Lender as additional collateral and security for any Letter of Credit Obligations relating to the Post-Expiration Date Letters of Credit.

  • Notwithstanding the foregoing, if any Letter of Credit remains outstanding after the Letter of Credit Expiration Date, the Parent shall, not later than the Letter of Credit Expiration Date, deposit cash in an amount equal to such Letter of Credit Usage in a Letter of Credit Cash Collateral Account.


More Definitions of Letter of Credit Cash Collateral Account

Letter of Credit Cash Collateral Account has the meaning specified in Section 8.4.
Letter of Credit Cash Collateral Account shall have the meaning provided in Section 4.02(A)(a).
Letter of Credit Cash Collateral Account is defined in Section 8.1. Such account and the related cash collateralization shall be subject to documentation satisfactory to the Agent.
Letter of Credit Cash Collateral Account has the meaning given to such term in Section 2.11 hereof.
Letter of Credit Cash Collateral Account means the deposit account maintained at the Bank or such other bank as the Agent may select, which deposit account shall be under the sole dominion and control of the Agent in accordance with any relevant terms and conditions of this Agreement, the Security Agreement and any other Related Document.
Letter of Credit Cash Collateral Account means the deposit account maintained at the Bank or such other bank as CIT may select, which deposit account shall be under the sole dominion and control of CIT.
Letter of Credit Cash Collateral Account is defined in Section 9.1. Such account and the related cash collateralization shall be subject to documentation satisfactory to the Agent and the taking of all steps required to give the Agent a perfected security interest in the Cash Collateral Investments.