Term Loan Collateral Proceeds Account definition

Term Loan Collateral Proceeds Account has the meaning specified for “Collateral Account” in the Term Loan Credit Agreement (as in effect on the date hereof).
Sample 1Sample 2Sample 3
Term Loan Collateral Proceeds Account means one or more Deposit Accounts or securities accounts established or maintained by the Company or any other Loan Party or the Term Loan Administrative Agent for the sole purpose of holding the identifiable proceeds of any sale or other disposition of any Term Loan Priority Collateral, including those that are required to be held in trust in such account or accounts pursuant to the terms of any Term Loan Document.
Sample 1

Examples of Term Loan Collateral Proceeds Account in a sentence

  • Identifiable proceeds of Dispositions of Term Loan Collateral, and identifiable proceeds of insurance resulting from casualty of the Term Loan Collateral and of awards arising from condemnation of the Term Loan Collateral to the extent deposited in the Term Loan Collateral Proceeds Account, (i) may not be commingled with any other funds and (ii) shall at all times remain segregated funds, separate and apart from any other funds of the Borrowers and their Subsidiaries.

Related to Term Loan Collateral Proceeds Account

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Proceeds Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent on or prior to the First Issue Date in respect of a first priority pledge over the Proceeds Account and all funds held on the Proceeds Account from time to time, granted in favour of the Agent and the Bondholders (represented by the Agent).

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under its sole dominion and control.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).