Deposit of Cash Collateral Sample Clauses

Deposit of Cash Collateral. Upon the occurrence of any Event of Default, Borrowers shall, on the next succeeding Business Day, deposit in a segregated, interest bearing account with Agent such funds as Agent may request, up to a maximum amount equal to the aggregate existing Letter of Credit Exposure. Any funds so deposited shall be held by Agent as security for the Credit Facilities (including the Letters of Credit) and Borrowers will, in connection therewith, execute and deliver such assignments and security agreements in form and substance satisfactory to Agent which Agent may, in its discretion, require. As drafts or demands for payment are presented under any Letter of Credit, Borrowers hereby irrevocably direct Agent to apply such funds to satisfy such drafts or demands. When all Letters of Credit have expired and the Notes have been repaid in full (and Lenders have no obligation to make further Advances or issue Letters of Credit hereunder) or such Event of Default has been cured to the satisfaction of Agent, Agent shall release to AMRESCO any remaining funds deposited under this Section 3.13. Whenever Borrowers are required to make deposits under this Section 3.13 and fail to do so on the day such deposit is due, Lenders may make such deposit using any funds of Borrowers then available to any Lender.
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Deposit of Cash Collateral. Upon the occurrence of any Event of Default, Borrower shall, on the next succeeding Business Day, deposit in a segregated, interest bearing account with Lender such funds as Lender may request, up to a maximum amount equal to the aggregate existing Letter of Credit Exposure. Any funds so deposited shall be held by Lender as security for the Credit Facility (including the Letters of Credit) and Borrower will, in connection therewith, execute and deliver such assignments and security agreements in form and substance satisfactory to Lender which Lender may, in its discretion, require. As drafts or demands for payment are presented under any Letter of Credit, Borrower hereby irrevocably directs Lender to apply such funds to satisfy such drafts or demands. When all Letters of Credit have expired and the Note has been repaid in full (and Lender has no obligation to make further Advances or issue Letters of Credit hereunder) or such Event of Default has been cured to the satisfaction of Lender, Lender shall release to Borrower any remaining funds deposited pursuant to this SECTION 3.13. Whenever Borrower is required to make deposits under this SECTION 3.13 and fails to do so on the day such deposit is due, Lender may make such deposit using any funds of Borrower on deposit then available to Lender.
Sample 1
Deposit of Cash Collateral. Undersigned agree to deposit with Company prior to the execution of the Bond a cash deposit of $ as full cash collateral to secure the Undersigned’s full and complete performance of its obligations under this Bond Agreement. Notwithstanding the deposit of such cash collateral, nothing herein shall preclude Producer or Company from prosecuting independent and successive actions and/or proceedings to recover any such costs, fees, premiums, charges, expenses, losses, and disbursements, including advances, if any, that are due and owing from Undersigned under this Bond Agreement.
Sample 1
Deposit of Cash Collateral. Undersigned agree to deposit with [G&G] prior to the execution of the Bond a cash deposit of $ as full cash collateral to secure the Undersigned’s full and complete performance of its obligations under this Bond Agreement. Notwithstanding the deposit of such cash collateral, nothing herein shall preclude [G&G] or Company from prosecuting independent and successive actions and/or proceedings to recover any such costs, fees, premiums, charges, expenses, losses, and disbursements, including advances, if any, that are due and owing from Undersigned under this Bond Agreement.
Sample 1
Deposit of Cash Collateral. The Borrower shall have delivered evidence to the Lender that Cash Collateral in an aggregate amount of at least $70,000,000 has been deposited into the Collateral Account.
Sample 1
Deposit of Cash Collateral. If on any date the LC Exposure exceeds the Revolving Commitments in effect on such date, the Borrower shall on such date deposit cash collateral in an amount equal to 105% of such excess on the terms set forth in Section 2.5(k).
Sample 1
Deposit of Cash Collateral. The Parent shall have deposited with the Administrative Agent the Collateral Shortfall Amount.
Sample 1
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Deposit of Cash Collateral. The Account Party shall deposit, and the Issuing Lender shall have received, in the Cash Collateral Account immediately available funds in the amount equal to 105% of the aggregate undrawn face amount of the Letters of Credit, as set forth on Schedule A as of the Assignment Effective Date.
Sample 1

Related to Deposit of Cash Collateral

  • Investment of Cash Collateral Pursuant to the SLA, the Client shall have the right to invest Cash Collateral received in respect of any loan, subject to an obligation, upon the termination of the loan, to return to the Approved Borrower the amount of cash initially pledged (as adjusted for any interim marks-to-market).

  • Cash Collateral If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.14.

  • Cash Collateral Account Notwithstanding anything to the contrary contained herein, no notice given or declaration made by the Administrative Agent pursuant to this Article VI shall affect (i) the obligation of any LC Issuing Bank to make any payment under any Letter of Credit in accordance with the terms of such Letter of Credit or (ii) the obligations of each Lender in respect of each such Letter of Credit; provided, however, that if an Event of Default has occurred and is continuing, the Administrative Agent shall at the request, or may with the consent, of the Majority Lenders, upon notice to the Borrower, require the Borrower to deposit with the Administrative Agent an amount in the cash collateral account (the “Cash Collateral Account”) described below equal to the LC Outstandings on such date. Such Cash Collateral Account shall at all times be free and clear of all rights or claims of third parties. The Cash Collateral Account shall be maintained with the Administrative Agent in the name of, and under the sole dominion and control of, the Administrative Agent, and amounts deposited in the Cash Collateral Account shall bear interest at a rate equal to the rate generally offered by Citibank for deposits equal to the amount deposited by the Borrower in the Cash Collateral Account, for a term to be determined by the Administrative Agent, in its sole discretion. The Borrower hereby grants to the Administrative Agent for the benefit of the LC Issuing Banks and the Lenders a Lien in and hereby assigns to the Administrative Agent for the benefit of LC Issuing Banks and the Lenders all of its right, title and interest in, the Cash Collateral Account and all funds from time to time on deposit therein to secure its reimbursement obligations in respect of Letters of Credit. If any drawings then outstanding or thereafter made are not reimbursed in full immediately upon demand or, in the case of subsequent drawings, upon being made, then, in any such event, the Administrative Agent may apply the amounts then on deposit in the Cash Collateral Account, toward the payment in full of any of the LC Outstandings as and when such obligations shall become due and payable. Upon payment in full, after the termination of the Letters of Credit, of all such obligations, the Administrative Agent will repay and reassign to the Borrower any cash then in the Cash Collateral Account and the Lien of the Administrative Agent on the Cash Collateral Account and the funds therein shall automatically terminate.

  • Cash Collateral Accounts Maintain, and cause each of the other Loan Parties to maintain, all Cash Collateral Accounts with Bank of America or another commercial bank located in the United States, which has accepted the assignment of such accounts to the Administrative Agent for the benefit of the Secured Parties pursuant to the terms of the Security Agreement.

  • Certain Cash Collateral Notwithstanding anything in this Agreement or any other Senior Lender Documents or Second Priority Documents to the contrary, collateral consisting of cash and deposit account balances pledged to secure Obligations under the Credit Agreement consisting of reimbursement obligations in respect of letters of credit or otherwise held by the First Lien Agent pursuant to Section 2.05 of the Credit Agreement (or any equivalent successor provision) shall be applied as specified in the Credit Agreement and will not constitute Common Collateral.

  • Cash Collateral Pledge Upon (i) the request of the Agent, (A) if the Issuing Bank has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (B) if, as of the Revolving Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (ii) the occurrence of the circumstances described in subsection 2.10(b) requiring the Company to Cash Collateralize Letters of Credit, then, the Company shall immediately Cash Collateralize the L/C Obligations in an amount equal to such L/C Obligations.

  • Lien on Deposit Accounts Cash Collateral (i) To further secure the prompt payment and performance of the Obligations, the Borrower and each Guarantor hereby grants to the Administrative Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account and Securities Account of such Borrower or Guarantor, including sums in any blocked, lockbox, sweep or collection account, to the extent such amounts constitute the Property of such Borrower or Guarantor. The Borrower and each Guarantor hereby authorizes and directs each bank or other depository to deliver to the Administrative Agent, upon request, all balances and assets in any Deposit Account or Securities Account maintained for such Borrower or Guarantor, without inquiry into the authority or right of the Administrative Agent to make such request.

  • LC Collateral Account (i) The Administrative Agent is hereby authorized to establish and maintain at the Notice Office, in the name of the Administrative Agent and pursuant to a dominion and control agreement, a restricted deposit account designated “The Lead Borrower LC Collateral Account.” Each Credit Party shall deposit into the LC Collateral Account from time to time the Cash Collateral required to be deposited under Section 2.13(j) hereof.

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