Collateral Account. (a) As collateral security for the prompt payment in full when due of all Letter of Credit Liabilities and the other obligations hereunder, the Borrower hereby pledges and grants to the Agent, for the ratable benefit of the Agent, the Issuing Bank and the Lenders as provided herein, a security interest in all of its right, title and interest in and to the Collateral Account and the balances from time to time in the Collateral Account (including the investments and reinvestments therein provided for below). The balances from time to time in the Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the Agent as provided herein. Anything in this Agreement to the contrary notwithstanding, funds held in the Collateral Account shall be subject to withdrawal only as provided in this Section.
Appears in 8 contracts
Samples: Credit Agreement (South Carolina Electric & Gas Co), Credit Agreement (Scana Corp), Credit Agreement (Scana Corp)
Collateral Account. (a) As collateral security for the prompt payment in full when due of all Letter of Credit Liabilities and the other obligations hereunderObligations, the Borrower hereby pledges and grants to the Administrative Agent, for the ratable benefit of the Agent, the Issuing Bank Administrative Agent and the Lenders as provided herein, a security interest in all of its right, title and interest in and to the Collateral Account and the balances from time to time in the Collateral Account (including the investments and reinvestments therein provided for below). The balances from time to time in the Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the Administrative Agent as provided herein. Anything in this Agreement to the contrary notwithstanding, funds held in the Collateral Account shall be subject to withdrawal only as provided in this Section.
Appears in 7 contracts
Samples: Credit Agreement (National Storage Affiliates Trust), Credit Agreement (National Storage Affiliates Trust), Credit Agreement (National Storage Affiliates Trust)
Collateral Account. (a) As collateral security for the prompt payment in full when due of all Letter of Credit Liabilities and the other obligations hereunderObligations, the Borrower hereby pledges and grants to the Administrative Agent, for the ratable benefit of the Agent, the Issuing Bank Administrative Agent and the Revolving Lenders as provided herein, a security interest in all of its right, title and interest in and to the Collateral Account and the balances from time to time in the Collateral Account (including the investments and reinvestments therein provided for below). The balances from time to time in the Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the Administrative Agent as provided herein. Anything in this Agreement to the contrary notwithstanding, funds held in the Collateral Account shall be subject to withdrawal only as provided in this Section.
Appears in 3 contracts
Samples: Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties, L.P.), And Consolidated Credit Agreement (Corporate Office Properties, L.P.)
Collateral Account. (a) As collateral security for the prompt payment in full when due of all Letter of Credit Liabilities and the other obligations hereunder, the Borrower hereby pledges and grants to the Agent, for the ratable benefit of the Agent, the each Issuing Bank and the Lenders as provided herein, a security interest in all of its right, title and interest in and to the Collateral Account and the balances from time to time in the Collateral Account (including the investments and reinvestments therein provided for below). The balances from time to time in the Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the Agent as provided herein. Anything in this Agreement to the contrary notwithstanding, funds held in the Collateral Account shall be subject to withdrawal only as provided in this Section.
Appears in 3 contracts
Samples: Credit Agreement (South Carolina Electric & Gas Co), Credit Agreement (South Carolina Electric & Gas Co), Credit Agreement (South Carolina Electric & Gas Co)
Collateral Account. (a) As collateral security for the prompt payment in full when due of all Letter of Credit Liabilities and the other obligations hereunderObligations and Hedge Obligations, the each Borrower hereby pledges and grants to the Agent, for the ratable benefit of the Agent, the Issuing Bank Agent and the Lenders as provided herein, a security interest in all of its right, title and interest in and to the Collateral Account and the balances from time to time in the Collateral Account (including the investments and reinvestments therein provided for below). The balances from time to time in the Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the Agent as provided herein. Anything in this Agreement to the contrary notwithstanding, funds held in the Collateral Account shall be subject to withdrawal only as provided in this Sectionsection.
Appears in 2 contracts
Samples: Credit Agreement (Bluerock Residential Growth REIT, Inc.), Credit Agreement (Bluerock Residential Growth REIT, Inc.)
Collateral Account. (a) As a)As collateral security for the prompt payment in full when due of all Letter of Credit Liabilities and the other obligations hereunderObligations, the Borrower hereby pledges and grants to the Administrative Agent, for the ratable benefit of the Agent, the Issuing Bank Administrative Agent and the Lenders as provided herein, a security interest in all of its right, title and interest in and to the Collateral Account and the balances from time to time in the Collateral Account (including the investments and reinvestments therein provided for below). The balances from time to time in the Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the Administrative Agent as provided herein. Anything in this Agreement to the contrary notwithstanding, funds held in the Collateral Account shall be subject to withdrawal only as provided in this Section.. β
Appears in 1 contract
Samples: Credit Agreement (CubeSmart, L.P.)
Collateral Account. (a) As collateral security for the prompt payment in full when due of all Letter of Credit Liabilities and the other obligations hereunderObligations and Hedge Obligations, the Borrower hereby pledges and grants to the Agent, for the ratable benefit of the Agent, the Issuing Bank Agent and the Lenders as provided herein, a security interest in all of its right, title and interest in and to the Collateral Account and the balances from time to time in the Collateral Account (including the investments and reinvestments therein provided for below). The balances from time to time in the Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the Agent as provided herein. Anything in this Agreement to the contrary notwithstanding, funds held in the Collateral Account shall be subject to withdrawal only as provided in this SectionSection 9.5.
Appears in 1 contract
