Pledge of Cash Collateral Sample Clauses

Pledge of Cash Collateral. (a) Borrowers hereby pledge to Bank and grant to Bank a security interest in the Cash Security Account as security for the prompt performance of all of Borrowers’ Obligations. Borrowers shall enter into such agreements as Bank requests in order to perfect or ensure the priority of Bank’s security interest in the Cash Security Account. (b) Borrowers authorize Bank immediately, and as may, be necessary from time to time, to transfer, from any Borrower’s other accounts at Bank to the Cash Security Account, the balances required to be held in the Cash Security Account pursuant to Section 6.12 of this Agreement. Each Borrower authorizes Bank to hold in pledge the balances required to be held in the Cash Security Account pursuant to Section 6.12 of this Agreement, and to decline to honor any drafts thereon or any request by a Borrower or any other Person to pay or otherwise transfer any part of such balances, for so long as any Obligations are outstanding. (c) Prior to the maturity, if any, of the Cash Security Account held by Bank pursuant hereto, Borrowers and Bank shall agree upon a security or other instrument similar in form, quality, and substance to the original Cash Security Account in which the proceeds of the Cash Security Account can be reinvested on maturity. Upon maturity, if any, of the Cash Security Account in accordance with its terms, or in the event that the Cash Security Account otherwise becomes payable during the term of this Agreement, such maturing Cash Security Account may be presented for payment, exchange, or otherwise marketed by Bank on behalf of Borrowers and the proceeds therefrom used to purchase the security or instrument agreed to by Borrowers and Bank in accordance with the immediately preceding sentence. If no agreement has been made, such proceeds shall be placed into an interest- bearing account at Bank until such time as an agreement as to the security replacing the original Cash Security Account can be reached. Bank may retain any such successor collateral and the proceeds therefrom as cash security in accordance with the terms of this Agreement.
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Pledge of Cash Collateral. The foregoing includes the “Pledge of Cash Collateral” described and defined in the Loan Agreement.
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Pledge of Cash Collateral. Each Pledgor hereby pledges, assigns, and grants a security interest to each Pledgee in all of such Pledgor’s right, title and interest in the Cash Collateral. This Agreement and the security interest in and assignment and pledge of the Cash Collateral hereunder are made with and granted to (i) the L/C Issuer, for the benefit of the Credit Parties, as security for the payment and performance in full of all of the Obligations (including, without limitation, the L/C Obligations and the Post-Petition Cash Management Obligations), and (ii) the Pre-Petition Agent, for the benefit of the Pre-Petition Credit Parties, as security for the payment and performance in full of all of the Pre-Petition Liabilities (including, without limitation, the Pre-Petition Indemnity Obligations and the Pre-Petition Cash Management Obligations). Notwithstanding the foregoing, no Cash Collateral provided with respect to Letters of Credit issued following the Effective Date shall be deemed to secure any Pre-Petition Liabilities (other than to the extent relating to Pre-Petition Letters of Credit).
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Pledge of Cash Collateral. As conditions precedent to the Bank's ------------------------- obligation to make the Loan to Borrower, (i) Borrower shall execute and deliver to Bank a pledge agreement, in substantially the form attached hereto as Exhibit ------- "C" which, subject to certain conditions precedent, creates a security interest --- and lien in deposit accounts, instruments, certificates of deposit, money market accounts and/or savings accounts and/or cash, cash equivalents, marketable securities and/or other unencumbered liquid assets, in each case in a form that has no risk of principal fluctuation, of Two Million and No/100 Dollars ($2,000,000.00) (the "Cash Collateral"), and (ii) Borrower shall establish an account or accounts with Bank for the deposit of the Cash Collateral in the event that the conditions precedent occur which require the deposit of the Cash Collateral (all such accounts shall be referred to as the "Accounts"). The -------- security interest and lien granted to Bank by Borrower shall not be effective or enforced by Bank unless (i) the total amount of Borrower's cash, cash equivalents, marketable securities and/or other unencumbered liquid assets, which are not encumbered by or subject to any security interest, lien or other encumbrance held by any person, declines to less than Six Million and No/100 Dollars ($6,000,000.00) ("Minimum Liquidity"), or (ii) a Payment Event of ----------------- Default (as hereinafter defined) shall occur (collectively or individually a
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Pledge of Cash Collateral. This Agreement is executed as a condition ------------------------- precedent to the Bank's obligation to make a loan evidencing the Indebtedness to Pledgor. Subject to certain conditions precedent, this Agreement creates a security interest and lien in deposit accounts, instruments, certificates of deposit, money market accounts and/or savings accounts and/or cash, cash equivalents, marketable securities and/or other unencumbered liquid assets, in each case in a form that has no risk of principal fluctuation, of Two Million and No/100 Dollars ($2,000,000.00) (the "Cash Collateral"). Pledgor has --------------- established an account or accounts with Bank for the deposit of the Cash Collateral in the event that the conditions precedent occur which require the deposit of the Cash Collateral (all such accounts shall be referred to as the "Accounts"). The security interest and lien granted to Bank by Pledgor in this --------- Agreement shall not be effective or enforced by Bank unless (i) the total amount of Pledgor's cash, cash equivalents, marketable securities and/or other unencumbered liquid assets which are not encumbered by or subject to any security interest, lien or other encumbrance held by any person, declines to less than Six Million and No/100 Dollars ($6,000,000.00) (the "Minimum ------- Liquidity") or (ii) a Payment Event of Default shall occur (collectively or individually a "Pledge Event"). In the event a Pledge Event occurs (i) Pledgor ------------ shall within three (3) business days deposit the Cash Collateral with Bank in the Accounts and shall maintain such Cash Collateral with Bank during the remaining term of the Loan, and (ii) the security interest and lien granted to Bank by Pledgor shall be immediately and automatically effective and enforceable without any further action by Pledgor or Bank and shall be deemed to relate back to the date hereof as its date of inception. In addition (i) Pledgor shall execute and deliver to Bank such financing statements, stock powers, assignments, endorsements, controlled account agreements and similar documents in form and substance satisfactory to Bank, to allow Bank to further control, perfect its interest in or execute on such collateral, and (ii) Bank may transfer to the Accounts any of Pledgor's cash, cash equivalents, marketable securities and/or other unencumbered liquid assets in an amount equal to the Cash Collateral from any of Pledgor's deposit accounts, instruments, certificates of deposit...
Sample 1
Pledge of Cash Collateral. For so long as the Term II Loan is outstanding, One Million Dollars ($1,000,000) of Borrowers’ cash maintained at Bank (the “Cash Collateral”) is hereby pledged to Bank as specific Collateral to secure Borrowers’ Obligations. Borrowers authorize Bank to hold Cash Collateral in pledge and to decline to honor any withdrawals thereon or any request by Borrowers or any other Person to pay or otherwise transfer any part of the Cash Collateral. On the date of Bank’s receipt of evidence satisfactory to Bank that the Fixed Charge Coverage Ratio has been least 1.15 : 1.00 for two consecutive calendar quarters, and as long as no Event of Default has occurred that is continuing on such date, the Cash Collateral shall be released from the foregoing restrictions and pledge.
Sample 1
Pledge of Cash Collateral. (1) Paragon hereby pledges, assigns, and grants to HRPT security title to and a continuing security interest in, the Cash Collateral at all times to secure the performance and payment of the Obligations. Paragon may not withdraw and shall not be entitled to receive any of the Cash Collateral prior to the payment in full of the Obligations after the Termination Date (as defined in the Paragon Guaranty) (such date being hereafter referred to as the "Termination Date") without the prior written consent of HRPT. Paragon shall not be entitled to the payment of interest on other investment proceeds in respect of the Cash Collateral. (2) Paragon hereby warrants and represents that on the date hereof and at all times prior to the termination of this Agreement, (i) Paragon had and will have the right and authority to transfer any interest in the Cash Collateral, subject only to the terms of this Agreement, and (ii) the Cash Collateral was not and will not be subject to any liens, claims, encumbrances, security interests or other interest, however described, in favor of any third person or entity. (3) HRPT hereby acknowledges receipt of the Cash Collateral. HRPT further acknowledges and agrees that on the Business Day following the Termination Date it shall return the Cash Collateral (in United States Dollars)(net of any amount applied to the Obligations pursuant to Section 4 below), without interest or accretion, all of which may be retained by and shall be the property of HRPT, to Paragon or to such person or entity as Paragon shall direct in writing.
Sample 1
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Pledge of Cash Collateral. In addition, upon early termination or cancellation, for any reason, of any of the Service Contracts, upon receipt thereof, Lessee, Guarantor or their Affiliate shall pledge as cash collateral, as additional security for Lessee's performance under the Operative Documents, an amount equal to the termination or cancellation fee or payment provided for in the applicable Service Contract, or, if such amount is not so specified in the applicable Service Contract, the amount of any termination or cancellation fee or payment paid (as a result of negotiation, litigation, settlement or otherwise) in accordance with the terms of such Service Contract, which amount shall be immediately deposited into the Deposit Account referred to in SECTION 9.5. The amount to be pledged by Lessee shall be net of any reasonable out-of-pocket expenses incurred by Lessee, Guarantor or their Affiliate, as applicable, directly relating to the termination of the services under such Service Contract so long as such termination does not result from a breach or failure to act by such Lessee, Guarantor or Affiliate. Such cash collateral will be released upon Lessee, Guarantor or their Affiliate, as applicable, entering into another service contract with aggregate revenues at least equal to or greater than the aggregate revenues payable under the terminated contract. Notwithstanding any of the foregoing to the contrary, Lessee shall not be required to deposit or pledge any applicable termination payments in connection with an early termination or cancellation of any Service Contract where the amount of such termination or cancellation payment is less than $1,000,000.
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Related to Pledge of Cash Collateral

  • Investment of Cash Collateral Pursuant to the SLA, the Client shall have the right to invest Cash Collateral received in respect of any loan, subject to an obligation, upon the termination of the loan, to return to the Approved Borrower the amount of cash initially pledged (as adjusted for any interim marks-to-market).

  • Cash Collateral Pledge Upon (i) the request of the Agent, (A) if the Issuing Lender has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (B) if, as of the Revolving Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (ii) the occurrence of the circumstances described in subsection 2.7(a) requiring the Company to Cash Collateralize Letters of Credit, then, the Company shall immediately Cash Collateralize the Obligations in an amount equal to the L/C Obligations.

  • Cash Collateral If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.14.

  • Cash Collateral Accounts Maintain, and cause each of the other Loan Parties to maintain, all Cash Collateral Accounts with Bank of America or another commercial bank located in the United States, which has accepted the assignment of such accounts to the Administrative Agent for the benefit of the Secured Parties pursuant to the terms of the Security Agreement.

  • Cash Collateral Account Notwithstanding anything to the contrary contained herein, no notice given or declaration made by the Administrative Agent pursuant to this Article VI shall affect (i) the obligation of any LC Issuing Bank to make any payment under any Letter of Credit in accordance with the terms of such Letter of Credit or (ii) the obligations of each Lender in respect of each such Letter of Credit; provided, however, that if an Event of Default has occurred and is continuing, the Administrative Agent shall at the request, or may with the consent, of the Majority Lenders, upon notice to the Borrower, require the Borrower to deposit with the Administrative Agent an amount in the cash collateral account (the “Cash Collateral Account”) described below equal to the LC Outstandings on such date. Such Cash Collateral Account shall at all times be free and clear of all rights or claims of third parties. The Cash Collateral Account shall be maintained with the Administrative Agent in the name of, and under the sole dominion and control of, the Administrative Agent, and amounts deposited in the Cash Collateral Account shall bear interest at a rate equal to the rate generally offered by Citibank for deposits equal to the amount deposited by the Borrower in the Cash Collateral Account, for a term to be determined by the Administrative Agent, in its sole discretion. The Borrower hereby grants to the Administrative Agent for the benefit of the LC Issuing Banks and the Lenders a Lien in and hereby assigns to the Administrative Agent for the benefit of LC Issuing Banks and the Lenders all of its right, title and interest in, the Cash Collateral Account and all funds from time to time on deposit therein to secure its reimbursement obligations in respect of Letters of Credit. If any drawings then outstanding or thereafter made are not reimbursed in full immediately upon demand or, in the case of subsequent drawings, upon being made, then, in any such event, the Administrative Agent may apply the amounts then on deposit in the Cash Collateral Account, toward the payment in full of any of the LC Outstandings as and when such obligations shall become due and payable. Upon payment in full, after the termination of the Letters of Credit, of all such obligations, the Administrative Agent will repay and reassign to the Borrower any cash then in the Cash Collateral Account and the Lien of the Administrative Agent on the Cash Collateral Account and the funds therein shall automatically terminate.

  • Pledge of Collateral Borrower hereby pledges, assigns and grants to Collateral Agent, for the ratable benefit of the Lenders, a security interest in all the Shares, together with all proceeds and substitutions thereof, all cash, stock and other moneys and property paid thereon, all rights to subscribe for securities declared or granted in connection therewith, and all other cash and noncash proceeds of the foregoing, as security for the performance of the Obligations. On the Effective Date, or, to the extent not certificated as of the Effective Date, within ten (10) days of the certification of any Shares, the certificate or certificates for the Shares will be delivered to Collateral Agent, accompanied by an instrument of assignment duly executed in blank by Borrower. To the extent required by the terms and conditions governing the Shares, Borrower shall cause the books of each entity whose Shares are part of the Collateral and any transfer agent to reflect the pledge of the Shares. Upon the occurrence and during the continuance of an Event of Default hereunder, Collateral Agent may effect the transfer of any securities included in the Collateral (including but not limited to the Shares) into the name of Collateral Agent and cause new (as applicable) certificates representing such securities to be issued in the name of Collateral Agent or its transferee. Borrower will execute and deliver such documents, and take or cause to be taken such actions, as Collateral Agent may reasonably request to perfect or continue the perfection of Collateral Agent’s security interest in the Shares. Unless an Event of Default shall have occurred and be continuing, Borrower shall be entitled to exercise any voting rights with respect to the Shares and to give consents, waivers and ratifications in respect thereof, provided that no vote shall be cast or consent, waiver or ratification given or action taken which would be inconsistent with any of the terms of this Agreement or which would constitute or create any violation of any of such terms. All such rights to vote and give consents, waivers and ratifications shall terminate upon the occurrence and continuance of an Event of Default.

  • Lien on Deposit Accounts Cash Collateral 7.2.1. Deposit Accounts. Xxxxxx’s Lien encumbers all amounts credited to any Deposit Account of an Obligor (other than Excluded Deposit Accounts), including sums in any blocked, lockbox, sweep or collection account. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Lender, upon request, all balances in any Deposit Account (other than Excluded Deposit Accounts) maintained for such Obligor, without inquiry into the authority or right of Lender to make such request.

  • Pledge of Credit Now or hereafter pledge Agent’s or any Lender’s credit on any purchases or for any purpose whatsoever or use any portion of any Advance in or for any business other than such Borrower’s business as conducted on the date of this Agreement.

  • Cash Collateralize the delivery of cash to Agent, as security for the payment of any inchoate or other contingent Obligations, in an amount equal to 103% of the amount due or to become due, including fees, expenses and indemnification hereunder. "Cash Collateralization" has a correlative meaning. Cash Equivalents: (a) marketable obligations issued or unconditionally guaranteed by, and backed by the full faith and credit of, the United States government, maturing within 12 months of the date of acquisition; (b) certificates of deposit, time deposits and bankers' acceptances maturing within 12 months of the date of acquisition, and overnight bank deposits, in each case which are issued by a commercial bank organized under the laws of the United States or any state or district thereof, rated A-1 (or better) by S&P or P-1 (or better) by Xxxxx'x at the time of acquisition, and (unless issued by a Lender) not subject to offset rights; (c) repurchase obligations with a term of not more than 30 days for underlying investments of the types described in clauses (a) and (b) entered into with any bank described in clause (b); (d) commercial paper rated A-1 (or better) by S&P or P-1 (or better) by Xxxxx'x, and maturing within nine months of the date of acquisition; and (e) shares of any money market fund that has substantially all of its assets invested continuously in the types of investments referred to above, has net assets of at least $500,000,000 and has the highest rating obtainable from either Xxxxx'x or S&P. Cash Management Services: services relating to operating, collections, payroll, trust, or other depository or disbursement accounts, including automated clearinghouse, e-payable, electronic funds transfer, wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox and stop payment services. CECAFE: CECAFE SERVICOS ADMINISTRATIVOS LTDA. ME. Cerberus: has the meaning specified therefor in the preamble hereto. CERCLA: the Comprehensive Environmental Response Compensation and Liability Act (42 U.S.C. § 9601 et seq.).

  • Cash Collateral for Letters of Credit If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Administrative Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Administrative Agent, to be held for the benefit of the L/C Issuer, the Agents and the Lenders entitled thereto, an amount of cash equal to 105% of the amount of Letter of Credit Obligations as additional collateral security for Obligations in respect of any outstanding Letter of Credit. The Administrative Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any Letters of Credit. Pending such application, the Administrative Agent may (but shall not be obligated to) invest the same in an interest bearing account in the Administrative Agent’s name, for the benefit of the L/C Issuers, the Agents and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Administrative Agent may, in their discretion, select.

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