Excess Cash Collateral definition

Excess Cash Collateral is defined in Section 2.6.7.
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Excess Cash Collateral has the meaning given to it in clause 6.14(F) (Cash Collateralisation).
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Excess Cash Collateral has the meaning set forth in Section 2.10(d).
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Examples of Excess Cash Collateral in a sentence

  • Administrative Agent shall promptly return the Excess Cash Collateral to Borrower upon Administrative Agent’s receipt of such request and Administrative Agent’s agreement with the calculations set forth therein.

  • In lieu of making the payments required under the Loan Documents, all Excess Cash Collateral (as such term is defined in the Management Agreement) shall be applied on a monthly basis first to the payment of Base Interest for that month, and the balance, if any, shall thereafter be applied in accordance with the provisions of the Indenture, the Note, the Loan Agreement and the other Loan Documents.

  • The Administrative Agent shall return the Excess Cash Collateral to the Borrower promptly following the Administrative Agent’s receipt of such request together with a Borrowing Base Certificate delivered pursuant to Section 5.03(d)(i), and the Administrative Agent’s agreement with the calculations as to compliance with in Sections 5.04(h) and (i) set forth in such Borrowing Base Certificate.

  • The funds from time to time on deposit in the Excess Cash Collateral Account may be disbursed from such account only for the purposes and in the manner provided for pursuant to Section 5.20 hereof.

  • Not later than the Amendment Date, the Company shall deliver to the Trustee a revocable letter directing the Trustee to transfer, on a monthly basis, an amount equal to monthly accrued interest on the then outstanding Securities from the Excess Cash Collateral Account to the Interest Account, to the extent sufficient funds are on hand in the Excess Cash Collateral Account to do so.

  • The Company shall have the right, but not the obligation, to prepay interest on the then outstanding Notes monthly, such prepayments to be funded either from transfers from the Excess Cash Collateral Account or from the Company's unrestricted cash, at the Company's option.

  • Borrower hereby grants to DLL a first priority security interest and lien in any and all such excess funds held by DLL from time to time (collectively, the “Excess Cash Collateral”) to secure the payment and performance of the Obligations when due and Borrower agrees that all such Excess Cash Collateral held by DLL from time to time shall be part of the Collateral.

  • In the event that insufficient funds exist in the Excess Cash Collateral Account or if the Company otherwise fails to prepay accrued interest as set forth in this Section, or if the Company revokes the aforesaid direction letter, such action or failure to act shall not constitute a default or Event of Default under this Indenture.

  • For avoidance of doubt, the parties hereto agree that upon the occurrence of any Event of Default which is continuing, DLL shall have the immediate right, exercisable in its sole and absolute discretion, to apply any and all Excess Cash Collateral held by DLL for Borrower’s account to the repayment of any and all then-outstanding and owing Obligations.

  • The Borrower shall prepay the outstanding principal amount of the Loans in an amount equal to the DOE Excess Cash Collateral in accordance with Section 2.05(c)(iv) of the Financing Agreement within two Business Days of the Amendment Effective Date; provided that, if such prepayment is not made within two Business Days of the Amendment Effective Date, this Amendment shall cease to be in effect.


More Definitions of Excess Cash Collateral

Excess Cash Collateral. (but without regard to investment earnings on such Excess Cash Collateral), being equal to or greater than the amount of the corresponding installment of principal and/or interest required to be paid under this Note (including, but not limited to, the outstanding principal balance of the Loan on the Defeasance Payment Date) through the Defeasance Payment Date (the “Defeasance Collateral”), and which shall be due and payable on such date, each of which shall be duly endorsed by the holder thereof as reasonably directed by Xxxxxx or accompanied by a written instrument of transfer in form and substance reasonably satisfactory to Lender (including, without limitation, such instruments as may be required by the depository institution holding such securities or the issuer thereof, as the case may be, to effectuate book-entry transfers and pledges through the book-entry facilities of such institution) in order to perfect upon the delivery of the Defeasance Security Agreement (as hereinafter defined) the first priority security interest in the Defeasance Collateral in favor of Lender in conformity with all applicable state and federal laws governing granting of such security interests, or (II) a sum of money in immediately available funds (the “Defeasance Deposit”) equal to the outstanding principal balance of this Note plus an amount, if any, which together with the outstanding principal balance of this Note, shall be sufficient to enable Lender to purchase, through means and sources customarily employed and available to Lender, for the account of Borrower, the Defeasance Collateral.
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Excess Cash Collateral means the difference between (1) the amount of Cash Collateral held by Party B as of the Cut-Off Date or such other date as the Determination Agent may determine in its sole and absolute discretion on or prior to the Early Redemption Date or (in the case of a Non-call Redemption) the date of redemption of the Notes or the Termination Date, as the case may be, and (2) the market value (as determined by the Determination Agent in its sole and absolute discretion) of a principal amount of the Reference Asset equal to the amount of such Cash Collateral as of the Cut- Off Date or such other date as the Determination Agent may determine in its sole and absolute discretion on or prior to the Early Redemption Date or (in the case of a Non-call Redemption) the date of redemption of the Notes or the Termination Date, as the case may be, provided that if such difference if a negative number, the Excess Cash Collateral shall be deemed to be zero.
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Excess Cash Collateral means, on any date, the excess, if positive, of the balance then on deposit in the Letter of Credit Collateral Account over (a) $5,600,000 if such date is in May 2005; (b) $6,500,000 if such date is in June 2005; (c) $8,600,000 if such date is in July 2005, and (d) $15,600,000 if such date is in August 2005.
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Excess Cash Collateral means, at any time, the lesser of (i) the excess (if any) of (x) funds on deposit in the Cash Collateral Account (excluding investment earnings), over (y) the Required Cash Collateral Amount and (ii) $1,000,000.
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Related to Excess Cash Collateral

  • L/C Cash Collateral Account means any Cash Collateral Account (a) specifically designated as such by the Borrower in a notice to the Administrative Agent and (b) from and after the effectiveness of such notice, not containing any funds other than those required under the Loan Documents to be placed therein.

  • Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

  • Cash Collateral shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Cash Collateral Accounts shall have the meaning given such term in Section 9(a).

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Required Cash Collateral Amount shall have the meaning provided in Section 3.7(c).

  • Cash Collateralization has a correlative meaning.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • Cash Collateral Agreement shall have the meaning provided in Section 5.2(b).

  • Cash Collateralize has the meaning specified in Section 2.03(g).

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Excess Cash shall have the meaning set forth in Section 2.7.2(b)(vii) hereof.

  • Final Cash Collateral Order means the Final Order of the Bankruptcy Court entered on March 30, 2020, wherein the Bankruptcy Court authorized the Debtors’ continued use of cash collateral subject to certain conditions contained therein.

  • Bank Product Collateralization means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations).

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Excess Collateral has the meaning set forth in Section 5.7.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • LC Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Letter of Credit Collateral Account has the meaning assigned to such term in Section 2.05(k).

  • Cash Collateral Order means an order entered by the Bankruptcy Court authorizing the Company to use cash collateral on a final (as opposed to interim) basis pursuant to sections 361 and 363 of the Bankruptcy Code, which order shall be acceptable to the Investor and shall contain a cash budget that is similar in all material respects to the budget attached hereto as Exhibit A.

  • Letter of Credit Usage means, as at any date of determination, the sum of (i) the maximum aggregate amount which is or at any time thereafter may become available for drawing under all Letters of Credit then outstanding plus (ii) the aggregate amount of all drawings under Letters of Credit honored by Issuing Lenders and not theretofore reimbursed out of the proceeds of Revolving Loans pursuant to subsection 3.3B or otherwise reimbursed by Company.

  • Cash Collateral Orders means, collectively, the Interim Cash Collateral Order and the Final Cash Collateral Order.