[Collateral Support Account] Sample Clauses

[Collateral Support Account]. [The Indenture Trustee acknowledges that, pursuant to the provisions of the Swap Agreement, the Swap Counterparty may be required to post collateral with the Indenture Trustee to secure the Swap Counterparty’s obligations under the Swap Agreement. If required under the Swap Agreement, the Servicer or the Administrator shall, in accordance with the provisions of the Swap Agreement, establish and maintain in the name of the Indenture Trustee at an Eligible Institution (which shall initially be the Indenture Trustee) a segregated trust account designated as the Collateral Support Account (the “Collateral Support Account”) to hold such collateral. The Indenture Trustee agrees to follow such written instructions relating to the establishment of, the administration of, and transfers from, the Collateral Support Account as may be delivered by the Servicer or the Administrator. The Servicer and the Administrator, in providing such instructions, shall comply with the provisions of the Swap Agreement.]
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[Collateral Support Account]. (i) The Borrower has established, or caused to be established, pursuant to the Collateral Support Account Agreement, for the benefit of the Collateral Agent, on behalf of the Secured Parties, a Collateral Support Account as described in Section 2.12(b) into which (1) the Required Collateral Support Amount shall be on deposit, (2) the Borrower shall deposit any applicable Establishment Fees, to be held in the Collateral Support Account in accordance with Section 2.12(e)(iii), (3) the Borrower shall deposit any applicable Royalty Fees, to be held in the Collateral Support Account in accordance with Section 2.12(e)(iii), (4) in the event of a breach of the Level 1 Minimum Market Capitalization Financial Covenant, the Borrower shall cause the Guarantor, to the extent not already deposited, to deposit in the Collateral Support Account 50% of the remaining amount guaranteed under the Limited Guaranty, and (5) in the event of a breach of the Level 2 Minimum Market Capitalization Financial Covenant, the Borrower shall cause the Guarantor, to the extent not already deposited, to deposit in the Collateral Support Account all of the remaining amount guaranteed under the Limited Guaranty.
Sample 1

Related to [Collateral Support Account]

  • 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.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Special Account If the Credit Facility is terminated for any reason while any Letter of Credit is outstanding, the Borrower shall thereupon pay the Lender in immediately available funds for deposit in the Special Account an amount equal to the L/C Amount. The Special Account shall be an interest bearing account maintained for the Lender by any financial institution acceptable to the Lender. Any interest earned on amounts deposited in the Special Account shall be credited to the Special Account. The Lender may apply amounts on deposit in the Special Account at any time or from time to time to the Obligations in the Lender's sole discretion. The Borrower may not withdraw any amounts on deposit in the Special Account as long as the Lender maintains a security interest therein. The Lender agrees to transfer any balance in the Special Account to the Borrower when the Lender is required to release its security interest in the Special Account under applicable law.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • 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.

  • Permitted Withdrawals from the Servicer Custodial Account and Certificate Account (a) The Servicer may from time to time make withdrawals from the Servicer Custodial Account, for the following purposes:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

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