The Cash Collateral Accounts Sample Clauses

The Cash Collateral Accounts. (f) An Assignment of Insurances dated March 3, 1988 from the Borrower and Texas Oil & Chemical Co. II, Inc., duly ratified by the parties thereto.
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The Cash Collateral Accounts. (a) The Collateral Agent shall invest and reinvest monies on deposit in each Lender's Cash Collateral Account in Permitted Investments of such Lender in accordance with written instructions received from time to time from the Borrower in the form of Exhibit I or, if an Event of Default shall have occurred and be continuing, in such Permitted Investments as may be selected by the Collateral Agent in its sole discretion or upon written instruction received from such Lender. Any cash held by the Collateral Agent without such written instructions regarding its investment shall be held by the Collateral Agent in each Lender's Deposit Account (as such term is defined, with respect to each Lender, on Schedule 2). The Borrower hereby irrevocably authorizes and empowers the Collateral Agent, as the attorney-in-fact for the Borrower, to endorse any check or any other instrument or security to be deposited or held in any Cash Collateral Account requiring the endorsement of the Borrower, which power is coupled with an interest and is irrevocable until the Maturity Date and the payment in full of all Outstanding Credits and other amounts payable by the Borrower under the Loan Documents.
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The Cash Collateral Accounts. 32 ARTICLE VI.
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The Cash Collateral Accounts. (a) When established, the Cash Collateral Accounts are intended to function in all respects as replacements in whole or in part for, and the equivalent of all or a portion of, the Fronting Letters of Credit. Accordingly, following their creation, each herein to "LOC Liquidity Disbursements", "LOC Credit Disbursements", "Conversion" and similar terms shall mean and be a reference to actions taken with respect to the Cash Collateral Accounts that correspond to actions that otherwise would have been taken with respect to the Fronting Letters of Credit. Without limiting the generality of the foregoing, upon funding of the Cash Collateral Accounts, the Agent shall, (i) at all times after the funding of any portion of the Cash Collateral Account A when otherwise required to make a draw under the A Letter of Credit pursuant to the second paragraph of Section 5.05 or 5.06(b), first, make a draw from the Cash Collateral Account A in the amount and at such time as a draw would be made under the A Letter of Credit pursuant to the second paragraph of Section 5.05 or 5.06(b), as applicable, and second, make a draw under the A Letter of Credit and (ii) at all times after the funding of any portion of the Cash Collateral Account 13 or Cash Collateral Account C when otherwise required to make a draw under the B Letter of Credit pursuant to the third paragraph of Section 5.05 or 5.06(c), make a draw, first, from the Cash Collateral Account C, until such Account is exhausted, second, from the Cash Collateral Account B, in each case in the amount and at such time as a draw would be made under the B Letter of Credit pursuant to the third paragraph of Section 5.05 or 5.06(c), as applicable and third, make a draw under the Letter of Credit. In addition, when a Conversion is required to occur pursuant to Section 5.06, a Conversion shall occur in respect of drawings made on the Cash Collateral Accounts pursuant to Section 5.06(b) or (c). The Agent shall provide written notice to National, each Rating Agency and the Support Credit Enhancers of any draw from the Cash Collateral Accounts pursuant to Section 5.05. The Cash Collateral Account A shall be reimbursed in the amount that would have been paid to the A Support Credit Enhancer in respect of A Support Liquidity Disbursements under Section 2.01 and 5.02(b). The Cash Collateral Account B shall be reimbursed in the amount that would have been paid to the B Support Credit Enhancers in respect of B Support LOC Liquidity Disbursemen...
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Related to The Cash Collateral Accounts

  • 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.

  • 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.

  • 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).

  • 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.

  • Facility LC Collateral Account The Borrower agrees that it will, upon the request of the Agent or the Required Lenders and until the final expiration date of any Facility LC and thereafter as long as any amount is payable to the LC Issuer or the Lenders in respect of any Facility LC, maintain a special collateral account pursuant to arrangements satisfactory to the Agent in its Permitted Discretion (the “Facility LC Collateral Account”) at the Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Agent, for the benefit of the Lenders and in which the Borrower shall have no interest other than as set forth in Section 8.1. Nothing in this Section 2.1.2(j) shall either obligate the Agent to require the Borrower to deposit any funds in the Facility LC Collateral Account or limit the right of the Agent to release any funds held in the Facility LC Collateral Account in each case other than as required by Section 8.1. The Borrower hereby pledges, assigns and grants to the Agent, on behalf of and for the ratable benefit of the Lenders and the LC Issuer, a security interest in all of the Borrower’s right, title and interest in and to all funds which may from time to time be on deposit in the Facility LC Collateral Account to secure the prompt and complete payment and performance of the Secured Obligations. The Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of Chase having a maturity not exceeding thirty days.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Special Collateral Account After an Event of Default has occurred -------------------------- and is continuing, all cash proceeds of the Collateral received by the Agent shall be deposited in a special deposit account with the Agent and held there as security for the Secured Obligations. The Agent shall invest any and all available funds deposited in such special deposit account, within five (5) business days after the date the relevant funds become available, in securities issued as fully guaranteed or insured by the United States Government or any agency thereof backed by the full faith and credit of the United States having maturities of three (3) months from the date of acquisition thereof (collectively, "Government Obligations"). The Assignor hereby acknowledges and agrees that the Agent shall not have any liability with respect to, and the Assignor hereby indemnifies the Agent against, any loss resulting from the acquisition of the Government Obligation and the Agent shall not have any obligation to monitor the trading activity of any such Governmental Obligations on and after the acquisition thereof for the purpose of obtaining the highest possible return with respect thereto, the Agent's responsibility being limited to acquiring such Governmental 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.

  • Collateral Account Party B shall open and maintain a segregated account, which shall be an Eligible Account, and hold, record and identify all Posted Collateral in such segregated account.

  • Supporting Letter of Credit; Cash Collateral If, notwithstanding the provisions of this Section 2.18 and any other provision of this Agreement, any Letter of Credit is outstanding upon the termination of this Agreement, then upon such termination the Borrowers shall deposit with the Agent, for the ratable benefit of the Agent and the Lenders, with respect to each Letter of Credit then outstanding, as the Majority Lenders, in their discretion, shall specify, either (A) a standby letter of credit (a “Supporting Letter of Credit”) in form and substance satisfactory to the Agent, issued by an issuer satisfactory to the Agent in an amount equal to the greatest amount for which such Letter of Credit may be drawn plus any fees and expenses associated with such Letter of Credit, under which Supporting Letter of Credit the Agent is entitled to draw amounts necessary to reimburse the Agent and the Lenders for payments made by the Agent and the Lenders under such Letter of Credit or under any credit support or enhancement provided through the Agent with respect thereto and any fees and expenses associated with such Letter of Credit or credit support, or (B) cash in amounts necessary to reimburse the Agent and the Lenders for payments made by the Agent or the Lenders under such Letter of Credit or under any credit support or enhancement provided through the Agent and any fees and expenses associated with such Letter of Credit or credit support. Such Supporting Letter of Credit or deposit of cash shall be held by the Agent, for the ratable benefit of the Agent and the Lenders, as security for, and to provide for the payment of, the aggregate undrawn amount of such Letters of Credit or such credit support remaining outstanding. At Agent’s or Letter of Credit Issuer’s request, Borrowers shall cash collateralize in a manner satisfactory to Agent the Fronting Exposure of any Defaulting Lender.

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