Proceeds to be Turned Over To Administrative Agent. Unless otherwise expressly provided in the Credit Agreement, all Proceeds received by the Administrative Agent hereunder in cash or Cash Equivalents shall be held by the Administrative Agent in a Cash Collateral Account. All Proceeds while held by the Administrative Agent in a Cash Collateral Account (or by such Grantor in trust for the Administrative Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in the Credit Agreement.
Appears in 8 contracts
Samples: Pledge and Security Agreement (Delphi Automotive PLC), Credit Agreement (Marquee Holdings Inc.), Pledge and Security Agreement (Amkor Technology Inc)
Proceeds to be Turned Over To Administrative Agent. Unless Upon the occurrence and during the continuance of an Event of Default, unless otherwise expressly provided in the Credit Agreement, all Proceeds received by the Administrative Agent hereunder in cash or Cash Equivalents shall be held by the Administrative Agent in a Cash Collateral Account. All Proceeds while held by the Administrative Agent in a Cash Collateral Account (or by such Grantor in trust for the Administrative Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in the Credit Agreement.
Appears in 3 contracts
Samples: Pledge and Security Agreement (J Crew Group Inc), Credit Agreement (J Crew Group Inc), Pledge and Security Agreement (J Crew Group Inc)
Proceeds to be Turned Over To Administrative Agent. Unless otherwise expressly provided in the Credit Agreement or Intercreditor Agreement, all Proceeds received by the Administrative Agent hereunder in cash or Cash Equivalents shall be held by the Administrative Agent in a Cash Collateral Account. All Proceeds while held by the Administrative Agent in a Cash Collateral Account (or by such Grantor in trust for the Administrative Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in the Credit Agreement.
Appears in 2 contracts
Samples: Pledge and Security Agreement (WCI Steel, Inc.), Pledge and Security Agreement (WCI Steel, Inc.)
Proceeds to be Turned Over To Administrative Agent. Unless otherwise expressly provided in the Credit Agreement, all Proceeds received by the Administrative Agent hereunder in cash or Cash Equivalents shall be held by the Administrative Agent in a Cash Collateral AccountAccount and applied to the Obligations in accordance with the Credit Agreement. All Proceeds while that are held by the Administrative Agent in a Cash Collateral Account (or by such Grantor in trust for the Administrative Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in the Credit Agreement.
Appears in 1 contract
Samples: Pledge and Security Agreement (Constar International Inc)
Proceeds to be Turned Over To Administrative Agent. Unless otherwise expressly provided in the Credit Agreement, all Proceeds received by the Administrative Agent hereunder in cash or Cash Equivalents Eligible Securities during the continuance of an Event of Default shall be held by the Administrative Agent in a Cash Collateral Account. All Proceeds while held by the Administrative Agent in a Cash Collateral Account (or by such Grantor in trust for the Administrative Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in the Credit AgreementAgreement or payment in full of the obligations.
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