SVB Cash Collateral Accounts definition

SVB Cash Collateral Accounts means (i) account number xxxxxxxxxx held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, (ii) account number xxxxxxxxxx held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services and (iii) an account held at Silicon Valley Bank securing Borrower’s obligations with respect to the corporate credit card(s) under the SVB Bank Services, with an aggregate balance of all accounts provided for in (i) through (iii) hereof not to exceed Five Million Dollars ($5,000,000.00).

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SVB Cash Collateral Accounts means those certain money market accounts with Silicon Valley Bank with account numbers ending in, -8509 and -8513, in each case, solely to the extent such accounts are subject to a Permitted Lien in favor of Silicon Valley Bank, and, in all cases, so long as such accounts contain only the amounts required to be deposited into such accounts pursuant to the underlying security agreements and no other amounts are so deposited in such accounts.

SVB Cash Collateral Accounts means (i) account number ending in 4838 held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, (ii) account number ending in 6141 held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, (iii) account number ending in 1460 held at Silicon Valley Bank securing Borrower’s obligations with respect to the corporate credit card(s) under the SVB Bank Services, (iv) account number ending in 259 held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, (v) account number ending in 7412 securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, and (vi) account number ending in 7675 held at Silicon Valley Bank securing Borrower’s obligations with respect to merchant credit card(s) under the SVB Bank Services, with an aggregate balance of all accounts provided for in (i) through (vi) hereof not to exceed Six Million Dollars ($6,000,000.00).

Examples of SVB Cash Collateral Accounts in a sentence

• The provisions of the previous sentence shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s, or any of its Subsidiaries’, employees and identified to Collateral Agent by Borrower as such in the Perfection Certificates or (ii) the SVB Cash Collateral Accounts.

• Notwithstanding the foregoing, the Collateral does not (i) include any Intellectual Property; provided, however, the Collateral shall include all Accounts and all proceeds of Intellectual Property or (ii) the SVB Cash Collateral Accounts.

• Notwithstanding the above, Borrower shall be permitted to maintain the SVB Cash Collateral Accounts at Silicon Valley Bank provided that the aggregate balance in such accounts does not exceed Five Million Dollars ($5,000,000.00) at any time.

• Permit the aggregate amount held in the SVB Cash Collateral Accounts at any time to be less than (i) the aggregate principal amount owing under the SVB Loan Agreement at such time plus (ii) 100% of the face amount and any reimbursement obligations with respect to any outstanding letters of credit issued by SVB on behalf of Borrower such time.

• Notwithstanding the foregoing, Borrower shall be permitted to maintain the SVB Cash Collateral Accounts until termination of the Existing Letter of Credit or cash management obligations to which such accounts relate.

More Definitions of SVB Cash Collateral Accounts

SVB Cash Collateral Accounts has the meaning set out in the Perfection Certificate.

SVB Cash Collateral Accounts means (i) account number ending in 4838 held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, (ii) account number ending in 6141 held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, (iii) account number ending in 1460 held at Silicon Valley Bank securing Borrower’s obligations with respect to the corporate credit card(s) under the SVB Bank Services, (iv) account number ending in 259 held at Silicon Valley Bank securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, (v) account number ending in 7412 securing Borrower’s obligations with respect to a letter of credit under the SVB Bank Services, and (vi) account number ending in 7675 held at Silicon Valley Bank securing Borrower’s obligations with respect to merchant credit card(s) under the SVB Bank Services, with an aggregate balance of all accounts provided for in

SVB Cash Collateral Accounts are (i) account number ending in 6141 held at Silicon Valley Bank securing Issuer’s obligations with respect to a letter of credit under the SVB Bank Services, (ii) account number ending in 259 held at Silicon Valley Bank securing Issuer’s obligations with respect to a letter of credit under the SVB Bank Services, (iii) account number ending in 7412 securing Issuer’s obligations with respect to a letter of credit under the SVB Bank Services and (iv) account number ending in 7675 held at Silicon Valley Bank securing Issuer’s obligations with respect to merchant credit card(s) under the SVB Bank Services, with an aggregate balance of all accounts provided for in (i) through (iv) hereof not to exceed Six Million Dollars ($6,000,000.00).

SVB Cash Collateral Accounts means deposit account numbers 3301410210, 3301410225 and 3301410244 maintained with SVB, into which the Borrower has deposited: (i) $25,000,000, which amount represents 100% of the outstanding balance of the 2015 Term Loan Advance, (ii) $100,000, which amount represents 100% of the aggregate maximum availability under the Bank Services Agreement with respect to credit cards, (iii) $404,892, which amount represents 105% of the aggregate face amounts of every Letter of Credit issued by SVB on behalf of Borrower as of November 9, 2015 and (iv) additional cash collateral in an amount not to exceed $600,000 in respect to additional obligations under the SVB Loan Agreement. Capitalized terms used in this definition but not defined in this Agreement shall have the meanings assigned to such terms in the SVB Loan Agreement as in effect on the date hereof.

SVB Cash Collateral Accounts means those certain deposit accounts of the Borrower maintained at SVB, with account numbers ending in 3608 and 3635, subject to the Permitted Senior Lien of SVB; provided that the SVB Cash Collateral Accounts (including all cash therein and proceeds thereof) shall constitute DIP Collateral hereunder, subject to DIP Liens pursuant to Bankruptcy Code section 364(c)(3).