Segregated Collateral Account definition

Segregated Collateral Account has the meaning set forth in the Pledge Agreement.
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Segregated Collateral Account means a segregated account, title to which is vested in the Wind-Down Trust that will hold the cash collateral or sale proceeds of the Prepetition Term Loan Collateral and DIP Collateral, as set forth in the DIP Order, until the Holders of the Allowed Prepetition Term Loan Claims are paid in full.
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Segregated Collateral Account means a deposit account or securities account subject to the control of the Administrative Agent in which Net Cash Proceeds are held until applied in accordance with Section 2.06 (it being understood and agreed that such Net Cash Proceeds may not transferred from the Segregated Collateral Account, or used for any other purpose, other than as expressly provided for in Section 2.06). All funds in such deposit account or securities account shall be conclusively presumed to be Collateral and proceeds of Collateral and the Administrative Agent and the Lenders shall have no duty to inquire as to the source of the amounts on deposit in the deposit account or securities account, subject to this Agreement, the Security Agreement and the Intercreditor Agreement.
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Examples of Segregated Collateral Account in a sentence

  • If the Commitments shall be terminated or the principal of the Notes shall become immediately due and payable pursuant to Section 6.01, the Borrower shall pay to the Agent for deposit in the Segregated Collateral Account an amount equal to the aggregate amount which is then, or may thereafter become, available for drawing under all outstanding Letters of Credit.

  • Each Segregated Collateral Account will be subject to a control agreement (each, an "Account Control Agreement") that will perfect such security interest.


More Definitions of Segregated Collateral Account

Segregated Collateral Account means a deposit account subject to a Control Agreement in favor of the Administrative Agent in which only Net Asset Sale Proceeds, the proceeds of an equity contribution, or the proceeds of Indebtedness issued pursuant to Section 6.1(l) are held until applied in accordance with Section 2.9(a) (in the case of Net Asset Sale Proceeds) or a Permitted Contribution Purpose (in the case of the proceeds of an equity contribution or the proceeds of Indebtedness issued pursuant to Section 6.1(l)) (it being understood and agreed that such amounts may not be transferred from the Segregated Collateral Account, or used for any other purpose, other than as expressly provided for in Section 2.9(a) or a Permitted Contribution Purpose, as applicable). All funds in such deposit account or securities account shall be conclusively presumed to be Collateral and proceeds of Collateral and the Administrative Agent and the Lenders shall have no duty to inquire as to the source of the amounts on deposit in the deposit account.
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Segregated Collateral Account has the meaning set forth in Section 9(C).
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Related to Segregated Collateral Account

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

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

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • 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.

  • Facility LC Collateral Account is defined in Section 2.19.11.

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

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Controlled Account has the meaning specified therefor in Section 7(k).

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Control Collateral means any Collateral consisting of any Certificated Security (as defined in Section 8-102 of the Uniform Commercial Code), Investment Property, Deposit Account, Instruments and any other Collateral as to which a Lien may be perfected through possession or control by the secured party, or any agent therefor.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • 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 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.

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • 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).