Collateral Account Agreement Sample Clauses
A Collateral Account Agreement is a contractual provision that establishes the terms under which a separate account is created to hold collateral for a financial transaction or obligation. This clause typically outlines the types of assets that can be deposited, the rights and responsibilities of the parties regarding the account, and the conditions under which the collateral may be accessed or released. For example, in a loan arrangement, the borrower may be required to deposit securities or cash into the account as security for repayment. The core practical function of this clause is to provide a secure and transparent mechanism for safeguarding collateral, thereby reducing credit risk and ensuring that the lender has recourse to specific assets if the borrower defaults.
Collateral Account Agreement. This Collateral Account Agreement governs the terms of the deposit account that you authorized us to open in your name (the “Collateral Account”). By opening the Collateral Account, you agree that this Collateral Account Agreement, including the security interest provisions, forms a binding contract and makes up the entire agreement between you and the Bank regarding the handling of your Collateral Account. This Collateral Account Agreement applies to each deposit account at the Bank, as well as all substitutions and replacements thereof, that has been assigned or pledged by you as collateral for the Credit Account that will be issued to you by the Bank. You should retain a copy of this Collateral Account Agreement and any information that the Bank provides you regarding changes to this Collateral Account Agreement for as long as your Collateral Account is open. You should ask the Bank any questions you have about this Collateral Account Agreement. This Collateral Account Agreement may be changed by the Bank from time to time. Notice of a change may be provided by any means the Bank considers appropriate or as otherwise required by law, including by emailing you notice of changes to this Collateral Account Agreement. If any part of this Collateral Account Agreement is held invalid in a legal proceeding, it will not affect the validity of any other part. The Bank may assign the Collateral Account at any time and without providing prior notices to you of the assignment.
Collateral Account Agreement. Each Lender hereby further authorizes Agent, on behalf of and for the benefit of Lenders, to enter into the Collateral Account Agreement as secured party, and each Lender agrees to be bound by the terms of the Collateral Account Agreement; provided that Agent shall not enter into or consent to any amendment, -------- modification, termination or waiver of any provision contained in the Collateral Account Agreement without the prior consent of Requisite Lenders. Anything contained in any of the Loan Documents to the contrary notwithstanding, Company, Agent and each Lender hereby agree that no Lender shall have any right individually to realize upon any of the collateral under the Collateral Account Agreement, it being understood and agreed that all powers, rights and remedies under the Collateral Account Agreement may be exercised solely by Agent for the benefit of Lenders in accordance with the terms thereof.
Collateral Account Agreement. The Amended and Restated Collateral Account Agreement between AmeriVest ▇▇▇▇▇▇▇▇▇ Inc., Agent and KeyBank as depository with respect to the Reserve Account, and joined in by AmeriVest Chateau Inc.
Collateral Account Agreement. Delivery to the Administrative Agent of an executed First Amendment to Collateral Account Agreement, dated as of the Closing Date in the form attached hereto as EXHIBIT E-4, duly executed and delivered by an Authorized Officer of each Borrower and an Authorized Officer of LCR.
Collateral Account Agreement. As a condition to the release of the liens of the Mortgage and the other Security Documents described in Section 9.5 hereinbelow, the Collateral Account Agreement attached as Exhibit F shall be executed.
Collateral Account Agreement. Each Borrower shall cause the Collateral Account Agreement to be finalized and executed by each party thereto and each of the Collateral Accounts thereunder to be established no later than the date thirty (30) days following the Closing Date.
Collateral Account Agreement. Each Lender hereby further authorizes Agent, on behalf of and for the benefit of Lenders, to enter into the Collateral Account Agreement as secured party, and each Lender agrees to be bound by the terms of the Collateral Account Agreement; provided that Agent shall not enter into or consent to any amendment, modification, termination or waiver of (i) the definition of "Eligible Investments" in this Agreement or in the Third-Party Account Agreement without the written concurrence of all Lenders or (ii) any provision contained in the Collateral Account Agreement without the prior consent of Majority Lenders. Anything contained in any of the Loan Documents to the contrary notwithstanding, Company, Agent and each Lender hereby agree that no Lender shall have any right individually to realize upon any of the collateral under the Collateral Account Agreement, it being understood and agreed that all powers, rights and remedies under the Collateral Account Agreement may be exercise solely by Agent for the benefit of Lenders in accordance with the terms thereof."
Collateral Account Agreement. Paragraph A of the Preliminary Statements of the Collateral Account Agreement is hereby amended by deleting such paragraph in its entirety and substituting therefor the following:
A. Secured Party and Lenders have entered into a Credit Agreement dated as of December 28, 1995, as amended by the First Amendment and Waiver to Credit Agreement dated as of April 22, 1996, and the Second Amendment to Credit Agreement and Approval dated as of June 20, 1996, as amended and restated in full by the Amended and Restated Credit Agreement dated as of December 20, 1996 (said Credit Agreement, as so amended and restated and as it may hereafter be amended, amended and restated, supplemented or otherwise modified from time to time, being the "Credit Agreement", the terms defined therein and not otherwise defined herein being used herein as therein defined) with Pledgor and NationsBanc Capital Markets, Inc., as Arranger, pursuant to which Lenders have made certain commitments, subject to the terms and conditions set forth in the Credit Agreement, to extend certain credit facilities to Pledgor."
Collateral Account Agreement. Company............................................................................................1
Collateral Account Agreement. Pledgor, Financial Institution and Intercreditor Agent have entered into that certain Disbursement Collateral Account Agreement dated as of September 30, 2004 (and as further amended, supplemented, amended and restated or otherwise modified from time to time, the “Collateral Account Agreement”).