Establishment of Cash Collateral Account. The Seller hereby ---------------------------------------- directs the Trustee, for the benefit of the Series 1996-R Certificateholders, to establish and maintain or cause to be established and maintained in the name of the Trustee, on behalf of the Series 1996-R Certificateholders, with an Eligible Institution (which initially shall be FNBC) a segregated trust account (the "Cash Collateral Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1996-R Certificateholders. The Seller does hereby transfer, assign, set over and otherwise convey to the Trustee for the benefit of the Series 1996-R Certificateholders, without recourse, all of its right, title and interest in, to and under the Cash Collateral Account, any Eligible Investments on deposit therein and any proceeds of the foregoing. The Seller, to the extent of any interest it may have in the Cash Collateral Account, Eligible Investments or other amounts on deposit therein and the proceeds thereof, hereby grants a security interest in the Cash Collateral Account, Eligible Investments or other amounts on deposit therein and proceeds thereof to the Trustee for the benefit of the Series 1996-R Certificateholders, and the parties intend that the grant contained in this subsection 4.11(a) constitute a security agreement under the UCC to secure the obligations of the Seller and the Trustee herein. The Trustee shall possess all right, title and interest in all Eligible Investments or other amounts on deposit from time to time in the Cash Collateral Account and in all proceeds thereof. The Cash Collateral Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1996-R Certificateholders. If, at any time, the institution holding the Cash Collateral Account ceases to be an Eligible Institution, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or within 5 Business Days if such institution is an Affiliate of First Chicago) establish a new Cash Collateral Account meeting the conditions specified above with an Eligible Institution, transfer any cash and/or any Eligible Investments or other amounts on deposit in the Cash Collateral Account to such new Cash Collateral Account and from the date such new Cash Collateral Account is established, it shall be the "Cash Collateral Account." The Seller hereby directs the Trustee (or the Servicer on the Trustee's behalf) to deposit $4,571,429...
Establishment of Cash Collateral Account. If the Parent or any Borrower is required to deposit funds in the Cash Collateral Account pursuant to Section 2.05(a)(ii), 2.05(k), 2.08(c), 2.11(c), 2.21, 5.09, 7.02, 7.03 or any other provision under this Agreement, then the Parent or such Borrower, as the case may be, and the Administrative Agent shall establish a Cash Collateral Account for the applicable Borrower and the Parent or such Borrower, as the case may be, shall execute any documents and agreements, including the Administrative Agent’s standard form assignment of deposit accounts, that the Administrative Agent reasonably requests in connection therewith to establish such Cash Collateral Account and grant the Administrative Agent a first priority, perfected security interest in such account and the funds therein. As collateral security for the payment and performance of the Obligations of the respective Borrower under this Agreement, each Borrower hereby grants to the Administrative Agent, for the benefit of the Lender Parties, a first priority security interest in such Borrower’s Cash Collateral Account and all cash and other property from time to time deposited or held in such account(s), and all proceeds thereof, and any substitutions and replacements therefor. If at any time Cash Collateral is subject to any right or claim of any Person other than the Lender Parties as herein provided, or the aggregate amount of such Cash Collateral is less than the amount required to be deposited under this Agreement, the Parent or the relevant Borrower, as applicable, will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an aggregate amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by any Defaulting Lender).
Establishment of Cash Collateral Account. Establish and maintain a deposit account with Xxxxx Fargo, in which payments related to Export-Related Accounts Receivable will be deposited directly by wire transfer (the “Cash Collateral Account”); provided, however, that payments from Durrat and Diyaar will be deposited in an account at Ahli United Bank (the “Ahli United Bank Deposit Account”) with the portion of such payments belonging to the Borrower or Guarantor to be deposited in the Cash Collateral Account reasonably promptly, and in any event within two (2) Business Days (as defined in the Standing Instruction Agreement), from the date of the deposit in the Ahli United Bank Deposit Account and, provided, further that (i) payments related to the Export Orders identified on Schedule 8.7 and (ii) payments related to Export Orders that have a contractual value of less than $1,000,000 and which are not included in the International Borrowing Base (collectively, the “Excluded Export-Related Accounts Receivable”) shall not be required to be deposited into the Cash Collateral Account. The Cash Collateral Account, including the withdrawal and release of funds therefrom, shall be governed by the control agreement in the form of Exhibit J hereto. So long as no Event of Default has occurred and is continuing, the Bank will deliver orders to Xxxxx Fargo providing for a daily transfer of all funds from the Cash Collateral Account to the Borrower’s operating account at Bank of America, N.A. or such other account as the Borrower may direct in writing from time to time.
Establishment of Cash Collateral Account. (a) Borrower shall ---------------------------------------- establish and maintain an account (the "Cash Collateral Account") with the Administrative Agent, the maintenance of which shall be subject to such rules and regulations as the Administrative Agent shall from time to time specify. If an Event of Default shall occur, the Administrative Agent shall have the immediate right, without prior notice or demand, to take and apply against the L/C Obligations any and all funds then or thereafter on deposit in the Cash Collateral Account. The funds deposited in the Cash Collateral Account shall be invested by the Administrative Agent in demand deposits held by or certificates of deposit issued by the Administrative Agent. The Administrative Agent shall not be obligated to pay interest on the Cash Collateral Account. The interest, if any, earned on the Cash Collateral Account shall be credited to and remain a part of the Cash Collateral Account until the termination of this Agreement. Borrower shall make deposits to the Cash Collateral Account at the time and in the amounts required by the Credit Agreement. Deposits shall be made by wire transfer to the account as designated by the Administrative Agent.
(b) The Administrative Agent shall have complete dominion and control over the Cash Collateral Account. The Borrower shall have no right to make withdrawals from the Cash Collateral Account. The Administrative Agent shall have the right at any time, without notice to the Borrower, to withdraw funds from the Cash Collateral Account for application to the L/C Obligations. Exhibit G Page 1 Cash Collateral Account Agreement
(c) The maximum amount required to be on deposit in the Cash Collateral Account at any time shall be equal to the Outstanding Amount of L/C Obligations. If the amount on deposit in the Cash Collateral Account exceeds the Outstanding Amount of all L/C Obligations, upon request made by the Borrower, Administrative Agent shall return such excess funds to Borrower.
Establishment of Cash Collateral Account. The Issuer shall establish and maintain an Eligible Account which shall be designated as the Cash Collateral Account. Such account shall initially be in the name of the Indenture Trustee and be located at the Corporate Trust Office of the Indenture Trustee.
Establishment of Cash Collateral Account. (i) The Cash Collateral Account shall have been established.
(ii) The Cash Collateral Account shall, concurrently with the funding of the Loans, be fully funded in an amount not less than the Cash Collateral Minimum Requirement.
Establishment of Cash Collateral Account. If the Borrower is required to provide Cash Collateral under the terms of this Agreement, the Borrower and the Agent shall establish the Cash Collateral Account, and the Borrower shall execute any documents and agreements that the Agent reasonably requests in connection therewith to establish the Cash Collateral Account, including, if so requested, an assignment of deposit accounts in form and substance reasonably satisfactory to the Agent and the Borrower. The Borrower hereby pledges, assigns and grants to the Agent, on behalf of and for the ratable benefit of the Lenders (including the LC Issuers), and agrees to maintain, a first priority security interest in the Cash Collateral Account and all of the Borrower’s right, title and interest in and to all Cash Collateral which may from time to time be on deposit in the Cash Collateral Account, and all proceeds thereof, to secure the prompt and complete payment and performance of the Obligations. If at any time the Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Agent and the LC Issuers as herein provided, or that the total amount of such Cash Collateral is less than the amount required to be deposited under this Agreement, the Borrower will, promptly upon demand by the Agent, pay or provide to the Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by any Defaulting Lender).
Establishment of Cash Collateral Account. (a) The Account Custodian has established in the name of the Collateral Agent and for the benefit of the Collateral Agent (on behalf of the Secured Parties and the Second Lien Secured Parties) account numbered [•]1 and titled “Jefferies/KCG Holdings” (the “Cash Collateral Account”), for purposes of this Agreement, which Cash Collateral Account is maintained at the Account Custodian’s office located at The Bank of New York Mellon, 000 Xxxxxxx Xxxxxx, #4W, New York, New York 10286. The Cash Collateral Account shall be maintained by the Account Custodian, and shall be under the sole dominion and control of the Collateral Agent. The Collateral Agent shall have the sole right to make and authorize withdrawals from the Cash Collateral Account and to exercise all rights with respect to the Account Proceeds from time to time therein pursuant to, and in accordance with the terms of, this Agreement. Unless and until released to, or in accordance with the instructions of, the Assignor in accordance with the requirements of Article 5 hereof, title to the Account Proceeds will remain with the Collateral Agent for the benefit of the Secured Parties and the Second Lien Secured Parties. All Account Proceeds delivered to or held by the Account Custodian on behalf of the Collateral Agent pursuant hereto shall be held in the Cash Collateral Account in accordance with the provisions hereof.
Establishment of Cash Collateral Account. The Company shall have --------------------------------------------- established and funded the Cash Collateral Account in accordance with the terms of Section 5.11. ------------
Establishment of Cash Collateral Account. The Agent will establish an ---------------------------------------- account in the name of the Company for purposes of this Agreement (the "Cash Collateral Account"). On the date hereof, the Company shall deposit or cause to be deposited in the Cash Collateral Account out of the proceeds of the advances being made by the New Lenders an amount equal to the Letter of Credit Amount ($12,882,291.67)(the "Cash Collateral"). Subject to the provisions of this Agreement, the Cash Collateral Account shall be under the sole dominion and control of the Agent and the Agent shall have the sole right to make withdrawals from the Cash Collateral Account to repay Obligations and during a continuance of an Event of Default to exercise all rights with respect to the Collateral from time to time therein. All Collateral delivered to, or held by, or on behalf of, and not released by, the Agent pursuant to the terms hereof shall be held in the Cash Collateral Account in accordance with the provisions hereof.
