Special Cash Collateral Account definition

Special Cash Collateral Account means an account maintained with BofA or an affiliate thereof for the purpose of providing cash collateral as part of the Borrowing Base, which account shall be subject to a control agreement in form and substance reasonably satisfactory to the Facility Agents and shall be a segregated account holding only cash of the Borrower deposited into such account in accordance with Section 2.19, investments of such cash in Permitted Cash Equivalents and investment income derived from such investments.
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Special Cash Collateral Account shall have the meaning assigned thereto in Section 5.10.
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Special Cash Collateral Account means that certain account number 3060-4171 maintained with Citibank, N.A. (or such other account maintained with the Revolving Facility Agent or an affiliate thereof and/or under the control of the Revolving Facility Agent) for the purpose of cash collateralizing the Collateralized Letters of Credit.
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Examples of Special Cash Collateral Account in a sentence

  • The parties hereto acknowledge and agree that the Special Cash Collateral Account is not a Cash Collateral Account and that all funds and Permitted Cash Equivalents in the Special Cash Collateral Account are collateral security for the payment of the Secured Obligations.

  • The Administrative Agent may, in its sole discretion, from time to time apply funds and Permitted Cash Equivalents then held in the Special Cash Collateral Account to the payment of Secured Obligations which are past due.

  • On any date after a Proceeds Deposit occurs, the Collateral Agent shall distribute from the Special Cash Collateral Account an amount (a "PROCEEDS DISTRIBUTION AMOUNT") equal to all or a portion of the amount of such Proceeds Deposit, in each case as requested in writing by BofA.

  • All amounts in the Special Cash Collateral Account shall be invested by the Collateral Agent in Permitted Investments, as directed in writing by the Company and all income on such Permitted Investments shall be retained in the Special Cash Collateral Account until all BofA Debt is paid in full and thereafter shall be distributed as provided in Section 4.1(b).

  • At such times as the Undrawn LC/Guaranty Exposure is reduced to zero, any amount remaining in the Special Cash Collateral Account, after the payment of all prior Distribution Amounts, shall be distributed as provided in clauses (iii), (iv), (v) and (vi) of Section 4.1(b).

  • Each accepted Offered Repayment in respect of any BofA Debt shall be deposited in the Special Cash Collateral Account as a Proceeds Deposit.

  • At such times as the Undrawn LC Exposure is reduced to zero, any amount remaining in the Special Cash Collateral Account, after the payment of all prior Distribution Amounts, shall be distributed as provided in clauses (iii), (iv), (v) and (vi) of Section 4.1(b).

  • In furtherance of the foregoing, Borrower shall maintain a cash collateral account with the Bank (the "Special Cash Collateral Account"), which shall have a balance equal to $200,000.00.

  • Except to the extent provided ----------------------------------- otherwise in (S)4.1(d) hereof, any payment pursuant to clause (iv) of (S)4.1(b) with respect to Outstanding Bank LC Exposure or Outstanding IRB LC Exposure (an "Applicable Deposit") shall be paid to (or retained by) the Collateral Agent for deposit in an account (the "Special Cash Collateral Account") to be held as Collateral for the Secured Obligations and to be applied as provided in this (S)4.1(c).

  • Special Cash Collateral Account" shall have the ----------------------- meaning given to such term in Section 3.3 hereof.


More Definitions of Special Cash Collateral Account

Special Cash Collateral Account means a deposit account established with the Administrative Agent and designated by the Parent and the Administrative Agent as the Special Cash Collateral Account, subject to a first priority and perfected Lien in favor of the Administrative Agent (a) designated by the Parent to contain only Pledged Cash or a portion thereof, (b) for which the Parent or the applicable Borrower has delivered to the Administrative Agent a Blocked Account Agreement and/or such other Security Documents or instruments required by the Administrative Agent, each in form and substance satisfactory to the Administrative Agent, pursuant to which the Administrative Agent has (i) been granted a first priority Lien on and security interest in such account and all cash held from time to time therein and (ii) sole control over the amounts held from time to time therein, and (c) which is maintained in accordance with Section 6.20(b).
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Special Cash Collateral Account has the meaning set forth in Section 3.01(c).
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Special Cash Collateral Account means any account of an Obligor into which cash collateral of the nature referred to in paragraphs (e)(i) and (f)(i) of the definition of Permitted Financial Indebtedness is placed.
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Special Cash Collateral Account shall have the ----------------------- meaning given to such term in Section 3.3 hereof.
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Special Cash Collateral Account has the meaning set forth in Section 3.1(c) of this Agreement.
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Related to Special Cash Collateral Account

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

  • 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).

  • 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.

  • 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.

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

  • Facility LC Collateral Account is defined in Section 2.19.11.

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

  • 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.]

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

  • 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.

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

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

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

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

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

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • 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.

  • Cash Collateralization has a correlative meaning.

  • 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).

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

  • 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.

  • 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.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).