Common use of Facility LC Collateral Account Clause in Contracts

Facility LC Collateral Account. The Borrower agrees that it will, ------------------------------ upon the request of the Administrative 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 Administrative Agent (the "Facility LC Collateral Account") at the Administrative Agent's office at the address specified pursuant to Article 9, in the name of such Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower shall have no interest other than as set forth in Section 7.

Appears in 2 contracts

Samples: Credit Agreement (National Data Corp), Credit Agreement (Global Payments Inc)

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Facility LC Collateral Account. The Each Borrower agrees that it will, ------------------------------ upon the request of the Administrative 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 Administrative Agent (the "Facility LC Collateral Account") at the Administrative Agent's office at the address specified pursuant to Article 9XIII, in the name of such Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower shall have no interest other than as set forth in Section 7.8.1. Each Borrower hereby pledges, assigns and

Appears in 1 contract

Samples: Credit Agreement (Kaydon Corp)

Facility LC Collateral Account. The Borrower agrees that it will, ------------------------------ upon the request of the Administrative Agent or the Required Lenders and until the final expiration date of any Facility LC and thereafter as long as any amount is payable due and owing to the LC Issuer or the Lenders in respect of any Facility LC, maintain a special collateral account pursuant to arrangements satisfactory to the Administrative Agent (the "Facility LC Collateral Account") at the Administrative Agent's office at the address specified pursuant to Article 9XIII, in the name of such Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower shall have no interest other than as set forth in Section 78.1.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Standard Electronics Inc)

Facility LC Collateral Account. The Borrower agrees that it will, ------------------------------ upon the request of the Administrative 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 any LC Issuer or the Lenders Lender in respect of any Facility LC, maintain a special collateral account pursuant to arrangements reasonably satisfactory to the Administrative Agent (the "Facility LC Collateral Account") at the Administrative Agent's office at the address specified in or pursuant to Article 9Section 11.1, in the name of such Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower shall have no interest other than as set forth in Section 79.

Appears in 1 contract

Samples: Credit Agreement (Pulte Homes Inc/Mi/)

Facility LC Collateral Account. The Borrower agrees that it will, ------------------------------ upon the request of the Administrative 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 any LC Issuer or the Lenders Lender in respect of any Facility LC, maintain a special collateral account pursuant to arrangements reasonably satisfactory to the Administrative Agent (the "Facility LC Collateral Account") at the Administrative Agent's office at the address specified in or pursuant to Article 9Section 11.1, in the name of such the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower shall have no interest other than as set forth in Section 79.

Appears in 1 contract

Samples: Credit Agreement (Pulte Homes Inc/Mi/)

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Facility LC Collateral Account. The Borrower agrees Borrowers agree that it they will, ------------------------------ upon the request of the Administrative Agent in its Permitted Discretion or the Required Revolving 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 Revolving Lenders in respect of any Facility LC, maintain a special collateral account pursuant to arrangements satisfactory to the Administrative Agent (the "Facility LC Collateral Account") at the Administrative Agent's office at the address specified pursuant to Article 9XIII, in the name of such Borrower the Borrowers but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower the Borrowers shall have no interest other than as set forth in Section 7.8.1. Nothing in this Section 2.1.2

Appears in 1 contract

Samples: Credit Agreement (Newpark Resources Inc)

Facility LC Collateral Account. The (i) Each Borrower agrees that it will, ------------------------------ upon the request of the Administrative Agent or the Required Lenders as required by Section 8.1 and until the final expiration date of any Facility LC and thereafter as long as any amount is payable to the LC Issuer Issuers or the Lenders in respect of any Facility LC, maintain a special collateral account pursuant to arrangements satisfactory to the Administrative Agent (the "Facility FACILITY LC Collateral AccountCOLLATERAL ACCOUNT") at the Administrative Agent's office at the address specified pursuant to Article 9XIV, in the name of such Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders and in which such Borrower shall have no interest other than as set forth in this Section 72.21.

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (L&c Spinco Inc)

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