Definition of Term Loan Escrow Account

Term Loan Escrow Account means the "Escrow Account" as defined in the Term Loan Agreement.
Sample 1 Sample 2

Examples of Term Loan Escrow Account in a sentence

Prior to the Term Loan Escrow Release Date, the Escrow Borrower shall not issue or incur any Indebtedness other than the Senior Notes and Term Loans, or own, hold or otherwise have any interest in any material assets other than the account referenced in the Senior Notes Escrow Agreement and the Term Loan Escrow Account, and cash or Cash Equivalents.
Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make Term Loans on the Closing Date to the Borrower in an amount equal to such Term Lenders Commitment, the proceeds of which shall be deposited into the Term Loan Escrow Account in accordance with the terms of the Term Loan Escrow Agreement and Section 2.14.
To the extent the proceeds of the Term Loan are not contemporaneously used to prepay those Senior Unsecured Notes to be redeemed pursuant to a Qualified Redemption Notice, such Term Loan proceeds shall be funded into the Term Loan Escrow Account.