XX Xxxx Collateral definition

XX Xxxx Collateral has the meaning assigned to such term in Section 3.7(c).

XX Xxxx Collateral means any and all deposits made by the Borrowers or LC Subsidiaries pursuant to Section 2.05(i) and interest and other amounts derived from the investment of such deposited amounts and included in such deposits.

XX Xxxx Collateral has the meaning set forth in Section 5.7(b).

Examples of XX Xxxx Collateral in a sentence

• After all such Letters of Credit shall have expired or been fully drawn upon and all other obligations of the Borrower hereunder and under the Notes shall have been paid in full, the balance, if any, in such XX Xxxx Collateral Account shall be returned to the Borrower.

• If the Borrowers and the LC Subsidiaries are required to provide an amount of XX Xxxx Collateral hereunder as a result of the occurrence of an Event of Default, all amounts on deposit in such account or accounts (to the extent not applied as aforesaid) shall be returned to them within three Business Days after all Events of Default have been cured or waived.

• After (i) no Event of Default shall be continuing or (ii) all such Letters of Credit shall have expired or been fully drawn upon and all other obligations of the Borrower hereunder and under the Notes shall have been paid in full, the balance, if any, in such XX Xxxx Collateral Account shall be returned to the Borrower.

• To the extent the Borrower fails to provide the XX Xxxx Collateral on the LC Expiration Date, the Borrower shall be deemed to have requested a Mandatory LOC Borrowing in an amount equal to 100% of the face amount of the Cash Collateralized LC as provided in Section 2.3(e) hereof, the proceeds of which will be delivered to the Issuing Lender as Cash Collateral.

• The Borrower hereby pledges to the Administrative Agent and grants the Administrative Agent a security interest in the XX Xxxx Collateral Account, whenever established, all funds held in the XX Xxxx Collateral Account from time to time, and all proceeds thereof as security for the payment of the Obligations.

More Definitions of XX Xxxx Collateral

XX Xxxx Collateral means Cash of the Restricted Parties pledged as collateral to secure any of the Restricted Parties’ reimbursement obligations under any Third Party Letter of Credit issued by a Third Party LC Issuer, to the extent permitted by Section 6.01(g)(ii).

XX Xxxx Collateral means any Collateral in the form of one or more Deposit Accounts or Securities Accounts, and all Financial Assets or other funds held in or credited to any such Deposit Account or Securities Account, all Security Entitlements in respect thereof and all Proceeds of any of the foregoing, in each case in which a security interest has been granted by the Company or any other Grantor to secure Credit Agreement Obligations consisting of obligations in respect of Letters of Credit pursuant to the terms of the Credit Agreement. For purposes hereof, the terms “Deposit Accounts”, “Securities Accounts”, “Financial Assets”, “Security Entitlements” and “Proceeds” have the meaning assigned thereto in the Michigan UCC.

XX Xxxx Collateral means all cash, and any interest or other income earned thereon, that is deposited with the Agent in accordance with this Agreement to Cash Collateralize any LC Obligations.

XX Xxxx Collateral means any Collateral in the form of one or more Deposit Accounts or Securities Accounts, and all Financial Assets or other funds held in or credited to any such Deposit Account or Securities Account, all Security Entitlements in respect thereof and all Proceeds of any of the foregoing, in each case in which a security interest has been granted by the Company or any other Grantor to secure Credit Agreement Obligations consisting of obligations in respect of Letters of Credit pursuant to Section 2.05(c), 2.05(l) or 2.11(d) of the Credit Agreement (or any equivalent successor provision). For purposes hereof, the terms “Deposit Accounts”, “Securities Accounts”, “Financial Assets”, “Security Entitlements” and “Proceeds” have the meaning assigned thereto in the New York UCC.

XX Xxxx Collateral means any Collateral in the form of one or more Deposit Accounts or Securities Accounts, and all Financial Assets or other funds held in or credited to any such Deposit Account or Securities Account, all Security Entitlements in respect thereof and all Proceeds of any of the foregoing, in each case in which a security interest has been granted by the Company or any other Grantor to secure Credit Agreement Obligations consisting of obligations in respect of Letters of Credit pursuant to Section 2.05(c), 2.05(1) or 2.11(d) of the Credit Agreement (or any equivalent successor provision). For purposes hereof, the terms “Deposit Accounts”, “Securities Accounts”, “Financial Assets”, “Security Entitlements” and “Proceeds” have the meaning assigned thereto in the New York UCC.

XX Xxxx Collateral means, at any time, the funds on deposit in or credited to the XX Xxxx Collateral Account at such time.

XX Xxxx Collateral has the meaning provided in Section 2.6(b)(v). ------------------