Term Loan Priority Account definition
Term Loan Priority Account means a non-interest bearing account in the name of the Term Agent established with a financial institution as the Term Agent may request, into which solely proceeds of the Term Loan Priority Collateral shall be deposited.
Term Loan Priority Account has the meaning set forth in the Intercreditor Agreement.
Term Loan Priority Account has the meaning assigned to such term in the ABL Intercreditor Agreement.
Examples of Term Loan Priority Account in a sentence
Blocked Accounts; Credit Card Processors; Term Loan Priority Account........
Subject to Section 6.23, the Term Loan Priority Account shall be subject to a Blocked Account Agreement in form and substance reasonably satisfactory to the Agents.
More Definitions of Term Loan Priority Account
Term Loan Priority Account means one or more deposit and/or securities accounts of the Grantors (identified to the ABL Agent in writing by the Term Loan Agent from time to time) that (a) is subject to a blocked account agreement in favor of the Term Loan Agent (who shall have first priority rights with respect to exercising control over such account) and (b) solely contains identifiable Proceeds of any Term Loan Priority Collateral and any interest deposited therein.
Term Loan Priority Account means that certain Deposit Account of the Grantors subject to a blocked account control agreement in favor of the Control Agent on behalf of the Term Loan Agent and the ABL Agent in which solely the proceeds of Term Loan Priority Collateral are maintained.
Term Loan Priority Account means the “Term Loan Priority Collateral Account” as such term is defined in the DIP Intercreditor Agreement.
Term Loan Priority Account as defined in the ABL/Term Loan Intercreditor Agreement whether or not the same remains in full force and effect.
Term Loan Priority Account has the meaning set forth for such term in the ABL Intercreditor Agreement as in effect as of the SecondThird Amendment Effective Date.
Term Loan Priority Account means any Deposit Account, that are intended to solely contain identifiable Proceeds of the Term Priority Collateral (it being understood that any property in such Deposit Account, which is not identifiable Proceeds of Term Priority Collateral shall not be Term Priority Collateral solely by virtue of being on deposit in any such Deposit Account).
Term Loan Priority Account means any deposit account which is required to be established pursuant to Section 2.2 of the Term Loan Agreement and on which the Term Loan Agent has a first priority lien.