Definition of Ply Gem LC Restricted Account

  1. Ply Gem LC Restricted Account means a restricted deposit account held at the Collateral Agent the amounts in which serve to cash collateralize outstanding Letters of Credit. By its execution of this Agreement, U.S. Borrower consents to and authorizes the establishment and maintenance of such account by the Collateral Agent and pledges and grants to the Collateral Agent for the benefit of the Secured Parties, a lien on and security interest in, such account and all funds therein. It is understood and agreed that the funds in such account shall be invested only in overnight investments denominated in U.S. dollars.

Definition of Ply Gem LC Restricted Account in Amended and Restated Credit Agreement

Ply Gem LC Restricted Account means a restricted deposit account held at the Collateral Agent the amounts in which serve to cash collateralize outstanding Letters of Credit. By its execution of this Agreement, U.S. Borrower consents to and authorizes the establishment and maintenance of such account by the Collateral Agent and pledges and grants to the Collateral Agent for the benefit of the Secured Parties, a lien on and security interest in, such account and all funds therein. It is understood and agreed that the funds in such account shall be invested only in overnight investments denominated in U.S. dollars.


Definition of Ply Gem LC Restricted Account in Credit Agreement

Ply Gem LC Restricted Account means a restricted deposit account held by the First Lien Collateral Agent the amounts in which serve to cash collateralize outstanding Letters of Credit under the First Lien Credit Agreement.