Payment Collateral definition

Payment Collateral means all Accounts, Instruments, Chattel Paper, Letter-Of-Credit Rights, Deposit Accounts (other than the Asset Sales Proceeds Account), Securities Accounts, and Payment Intangibles, together with all Supporting Obligations, in each case composing a portion of the Collateral.

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Payment Collateral has the meaning set forth in Section 5.01(c).

Payment Collateral means all Accounts, Instruments, Chattel Paper, Letter-Of-Credit Rights, Deposit Accounts, Securities Accounts and Payment Intangibles, together with all Supporting Obligations in relation to the foregoing, in each case comprising a portion of the Common Collateral

Examples of Payment Collateral in a sentence

• Notwithstanding the foregoing, the Company Payment Collateral shall not include, and the Liens created under this Section 5.01(c) shall not encumber, any Excluded Payment Property of the Company.

• If Collateral Agent shall thereafter receive from Lessee such Lease Payment or Supplemental Payment, Collateral Agent shall forthwith remit such payment to such Curing Party in reimbursement for the funds so advanced by it.

• Such Interest Payment Collateral shall be deposited and held in a collateral account (the "Collateral Account") with The Bank of New York (the "Securities Intermediary").

• The Subordinated Agent, for and on behalf of itself and the Subordinated Lenders, acknowledges and agrees that no application of any Payment Collateral or Cash Collateral by the Senior Agent or the release of any Lien by the Senior Agent upon any portion of the Collateral in connection with any disposition of assets pursuant to Section 4.15 of the Original NIA shall constitute the Exercise of Secured Creditor Remedies under this Subordination Agreement.

• The Company shall purchase and pledge to the Collateral Agent, for the exclusive benefit of the Noteholders, the Interest Payment Collateral.

• Notwithstanding the foregoing, the Company Payment Collateral shall not include, and the Liens created under this Section 2.01(c) shall not encumber, any Excluded Payment Property of the Company.

• Moreover, Borrowers are expressly prohibited and shall not have any express, implied or apparent authority to sell, lease, transfer or otherwise dispose of any Delayed Payment Collateral.

• In furtherance of the foregoing, but not in limitation thereof, and to the extent required by Lender in its sole and absolute discretion, Borrower shall cause a standing transfer order or similar mechanism to be placed on any deposit account not held by Lender, which standing transfer order or similar mechanism shall cause the automatic and daily transfer of any and all funds held in such deposit account to the Payment Collateral Account.

• In connection with the calculation of such amount by the Collateral Agent, the Borrower shall provide any information reasonably requested by the Collateral Agent regarding the Collateral, including the purchase price and nominal value thereof and any CUSIP or other security identification number and, in the case of the Payment Collateral Account and the Cash Collateral Account the balances thereof.

• The Noteholder Collateral Agent, for and on behalf of itself and the Noteholders, expressly acknowledges and agrees that no application of any Payment Collateral or Cash Collateral by the Senior Agent or the release of any Lien by the Senior Agent upon any portion of the Collateral in connection with a disposition of assets pursuant to Section 6.4 of the Original Senior Credit Agreement shall constitute an Exercise of Secured Creditor Remedies under this Agreement.

More Definitions of Payment Collateral

Payment Collateral means all accounts, instruments, chattel paper, letters of credit, deposit accounts, securities accounts, and payment intangibles, together with all supporting obligations (as those terms are defined in the UCC), in each case, composing a portion of the Collateral. “Permitted Refinancing” has the meaning set forth in Section 6.c. “Proceeds” means (a) all “proceeds” as defined in Article 9 of the UCC with respect to the Collateral, and (b) whatever is recoverable or recovered when Collateral is sold, exchanged, collected, or disposed of, whether voluntarily or involuntarily. “Recovery” has the meaning set forth in Section 5.b. “Refinancing” means to amend, restate, supplement, waive, replace (whether or not upon termination, and whether with the original parties or otherwise), restructure, repay, refund, refinance or

Payment Collateral means all accounts, instruments, chattel paper, letters of credit, deposit accounts, securities accounts, and payment intangibles, together with all supporting obligations (as those terms are defined in the UCC), in each case, composing a portion of the Collateral. “Permitted Refinancing” has the meaning set forth in Section 6.c. "Proceeds" means (a) all "proceeds" as defined in Article 9 of the UCC with respect to the Collateral, and (b) whatever is recoverable or recovered when Collateral is sold, exchanged, collected, or disposed of, whether voluntarily or involuntarily. "Recovery" has the meaning set forth in Section 5.b.

Payment Collateral means all accounts, instruments, chattel paper, letters of credit, deposit accounts, securities accounts, and payment intangibles, together with all supporting obligations (as those terms are defined in the UCC), in each case, composing a portion of the Collateral. “Permitted Refinancing” has the meaning set forth in Section 6.c. “Proceeds” means (a) all “proceeds” as defined in Article 9 of the UCC with respect to the Collateral, and (b) whatever is recoverable or recovered when Collateral is sold, exchanged, collected, or disposed of, whether voluntarily or involuntarily. “Recovery” has the meaning set forth in Section 5.b. “Refinancing” means to amend, restate, supplement, waive, replace (whether or not upon termination, and whether with the original parties or otherwise), restructure, repay, refund, refinance or otherwise modify from time to time (including by means of any agreement or indenture extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the obligations under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or indenture or indentures or increasing the amount loaned or issued thereunder or altering the maturity thereof). “Release Event” means any sale or other disposition of Collateral (a) in connection with any Exercise of Secured Creditor Remedies by the Senior Agent, (b) by one or more Obligors with the consent of the Senior Agent either (i) after the occurrence and during the continuance of a Default or an Event of Default, which sale or other disposition is conducted by such Obligor with the consent of the Senior Agent in connection with efforts by the Senior Agent to either (x) collect the Senior Indebtedness through the sale or other disposition of Collateral, or (y) assist the Obligors in restructuring their business operations to allow the Obligors to continue to perform their obligations with respect to the Senior Indebtedness, or (ii) in a sale during an Insolvency Proceeding (including a sale pursuant to Section 363 of the Bankruptcy Code or pursuant to a plan of reorganization) or (c) permitted by the Senior Loan Documents. “Second Lien Agent” means the Original Second Lien Agent, together with its successors, assigns, transferees and any Person that has a similar title (such as “Agent” “Administrative Agent” or “Collateral Agent”) under any Second ▇▇▇▇ ▇▇▇. “Second Lien Indebtedness” means all obligations and all othe...

Payment Collateral means all Accounts, Instruments, Chattel Paper, Letter-Of-Credit Rights, Deposit Accounts (other than the Deposit Accounts which constitute Term Priority Collateral), Securities Accounts, and Payment Intangibles, together with all Supporting Obligations, in each case composing a portion of the Collateral.