TCB Accounts definition
Examples of TCB Accounts in a sentence
It is hereby acknowledged that, due to the occurrence of the Forbearance Defaults, the Administrative Agent is entitled to foreclose on or collect certain funds and assets of the Borrowers and apply such funds and future revenues deposited in the TCB Accounts to the Obligations under the Credit Agreement.
Other than the real estate set forth in Schedule 4.13, MMI does not currently own any real property and has not owned any real estate during the last three years.
On Friday, February 26, 2010, and each second Friday occurring thereafter (a “Reporting Date”), the Borrowers shall provide to the Administrative Agent a reconciliation for the two-week period ended on the Friday which is two weeks before such Reporting Date, of the sources and uses of cash deposited in and withdrawn from the TCB Accounts, together with a certification from the Borrowers that funds withdrawn from the TCB Accounts were used for Proper Purposes.
Notwithstanding such fact, the Borrowers shall be permitted during the Forbearance Period to use such funds and future revenues deposited in the TCB Accounts for Proper Purposes; provided, however that the Borrowers shall not, during the Forbearance Period, in any way use such funds and future revenues deposited in the TCB Accounts for the purpose of drilling any new oil or gas w▇▇▇▇.
Notwithstanding such fact, the Borrowers shall be permitted during the Forbearance Period to use such funds and future revenues deposited in the TCB Accounts for Proper Purposes; provided, however that the Borrowers shall not, during the Forbearance Period, in any way use such funds and future revenues deposited in the TCB Accounts for the purpose of drilling any new oil or gas ▇▇▇▇▇.
As additional security for the Notes and other Obligations, each Borrower hereby assigns and pledges to the Administrative Agent, and grants a security interest to the Administrative Agent in, the TCB Accounts.