Definition of Term Collateral Proceeds Account

  1. Term Collateral Proceeds Account means any deposit account in the name of the Term Agent or the Term Borrower which contains (or was established to contain) only (a) Term Priority Proceeds and/or (b) proceeds from any disposition of Term Priority Collateral pending reinvestment pursuant to the Term Loan Agreement.

Examples of Term Collateral Proceeds Account in a sentence

  1. All proceeds of a mandatory prepayment pursuant to this Section 2.4(e) will be deposited into a Term Collateral Proceeds Account (as defined in the Intercreditor Agreement), including proceeds from an asset sale that are to be reinvested.

Definition of Term Collateral Proceeds Account in Intercreditor Agreement

Term Collateral Proceeds Account means any deposit account in the name of the Term Agent or the Term Borrower which contains (or was established to contain) only (a) Term Priority Proceeds and/or (b) proceeds from any disposition of Term Priority Collateral pending reinvestment pursuant to the Term Loan Agreement.