CASH COLLATERAL ACCOUNT SURPLUS Sample Clauses

CASH COLLATERAL ACCOUNT SURPLUS. In the event that the Series 1998-1 Cash Collateral Account Surplus on any Payment Date, after giving effect to all withdrawals from the Series 1998-1 Cash Collateral Account, is greater than zero, the Trustee, acting in accordance with the written instructions of the Servicer, shall withdraw from the Series 1998-1 Cash Collateral Account an amount equal to the Series 1998-1 Cash Collateral Amount Surplus and shall pay from such amount to the Series 1998-1 Letter of Credit Provider, an amount equal to the amount of unreimbursed draws under the Series 1998-1 Letter of Credit.
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CASH COLLATERAL ACCOUNT SURPLUS. In the event that the Series 2002-1 Cash Collateral Account Surplus on any Distribution Date (or, after the Series 2002-1 Letter of Credit Termination Date, on any date) is greater than zero, the Trustee, acting in accordance with the written instructions (a copy of which shall be provided by the Administrator to the Surety Provider) of the Administrator, shall withdraw from the Series 2002-1 Cash Collateral Account an amount equal to the Series 2002-1 Cash Collateral Account Surplus and shall pay such amount: FIRST, to the Series 2002-1 Letter of Credit Providers to the extent of any unreimbursed drawings under the related Series 2002-1 Reimbursement Agreement, for application in accordance wixx xxx xxxxxxxxxx xx the related Series 2002-1 Reimbursement Agreement, and, SECOND, to AFC-II any remaining amount.
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CASH COLLATERAL ACCOUNT SURPLUS. In the event that the Series 2002-2 Cash Collateral Account Surplus on any Distribution Date (or, after the Series 2002-2 Letter of Credit Termination Date, on any date) is greater than zero, the Trustee, acting in accordance with the written instructions of the Administrator, shall withdraw from the Series 2002-2 Cash Collateral Account an amount equal to the Series 2002-2 Cash Collateral Account Surplus and shall pay such amount: FIRST, to the Series 2002-2 Letter of Credit Providers to the extent of any unreimbursed drawings under the related Series 0000-0 Xxxxxxxxxxxxx Agreement, for application in accordance with the provisions of the related Series 2002-2 Reimbursement Agreement, and, SECOND, to AFC-II any remaining amount.
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CASH COLLATERAL ACCOUNT SURPLUS. In the event that the Cash Collateral Account Surplus on any Distribution Date, after giving effect to all withdrawals from the Cash Collateral Account, is greater than zero, the Trustee, acting in accordance with the instructions of the Servicer, shall withdraw from the Cash Collateral Account an amount equal to the Cash Collateral Amount Surplus and shall pay such amount in the following order of priority: first, to the Letter of Credit Provider, an amount equal to the amount of unreimbursed draws under the Letter of Credit and, second, to the Support Credit Enhancer, an amount equal to the remainder of the Cash Collateral Account Surplus for application in accordance with the provisions of the Support Letter of Credit Reimbursement Agreement.
Sample 1
CASH COLLATERAL ACCOUNT SURPLUS. In the event that there is a Series 1997-1 Cash Collateral Account Surplus on any Distribution Date, after giving effect to all withdrawals from the Series 1997-1 Cash Collateral Account, the Trustee, acting in accordance with the written instructions of the Master Servicer, shall withdraw from the Series 1997-1 Cash Collateral Account an amount equal to the Series 1997-1 Cash Collateral Amount Surplus and shall pay such amount in the following order of priority: first, to the Series 1997-1 Letter of Credit Provider to the extent of unreimbursed draws under the Series 1997-1 Letter of Credit and, second, to the Series 1997-1 Support Letter of Credit Providers, an amount equal to the remainder of such Series 1997-1 Cash Collateral Account Surplus for application in accordance with the provisions of the Series 1997-1 Support Reimbursement Agreement and, third, to the GM Series 1997-1 Support Provider for application in accordance with the provisions of the GM Series 1997-1 Support Reimbursement Agreement and, fourth, to NFLP any remaining amount.
Sample 1
CASH COLLATERAL ACCOUNT SURPLUS. In the event that the Series 2009-2 Cash Collateral Account Surplus on any Distribution Date (or, after the Series 2009-2 Letter of Credit Termination Date, on any date) is greater than zero, the Trustee, acting in accordance with the written instructions of the Administrator, shall withdraw from the Series 2009-2 Cash Collateral Account an amount equal to the Series 2009-2 Cash Collateral Account Surplus and shall pay such amount: first, to the Series 2009-2 Letter of Credit Providers to the extent of any unreimbursed drawings under the related Series 2009-2 Reimbursement Agreement, for application in accordance with the provisions of the related Series 2009-2 Reimbursement Agreement, and, second, to ABRCF any remaining amount.
Sample 1

Related to CASH COLLATERAL ACCOUNT SURPLUS

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Reserve Account Property (i) The Reserve Account and all proceeds thereof (other than the Investment Earnings thereon) including all cash, investments, investment property and other amounts held from time to time in the Reserve Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities, Financial Assets or otherwise) and (ii) the Reserve Account Deposit and all proceeds thereof (other than the Investment Earnings thereon).

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