Common use of Provision of Cover Clause in Contracts

Provision of Cover. (a) If there shall occur an Event of Default and the Company is as a result thereof required pursuant to Section 8.01 to provide cover for the Letters of Credit, the Administrative Agent will forthwith establish a separate collateral account (the “Collateral Account”) at Citibank, which shall be a “securities account” (as defined in Section 8-501 of the UCC) in respect of which the Administrative Agent is the “entitlement holder” (as defined in Section 8-102(a)(7) of the UCC), into which there shall be deposited from time to time the amounts paid to the Administrative Agent as cover.

Appears in 3 contracts

Samples: Credit Agreement (Cigna Corp), Letter of Credit Agreement (Cigna Corp), Credit Agreement (Cigna Corp)

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Provision of Cover. (a) If there shall occur an Event of Default and the Company is as a result thereof required pursuant to Section 8.01 to provide cover for the Letters of Credit, the Administrative Agent will forthwith establish a separate collateral account (the "Collateral Account") at Citibank, which shall be a "securities account" (as defined in Section 8-501 of the UCC) in respect of which the Administrative Agent is the "entitlement holder" (as defined in Section 8-102(a)(7) of the UCC), into which there shall be deposited from time to time the amounts paid to the Administrative Agent as cover.

Appears in 2 contracts

Samples: Letter of Credit Agreement (Cigna Corp), Letter of Credit Agreement (Cigna Corp)

Provision of Cover. (a) If there shall occur an Event of Default and the Company is as a result thereof required pursuant to Section 8.01 ‎8.01 to provide cover for the Letters of Credit, the Administrative Agent will forthwith establish a separate collateral account (the “Collateral Account”) at CitibankJPMorgan, which shall be a “securities account” (as defined in Section 8-501 of the UCC) in respect of which the Administrative Agent is the “entitlement holder” (as defined in Section 8-102(a)(7) of the UCC), into which there shall be deposited from time to time the amounts paid to the Administrative Agent as cover.

Appears in 2 contracts

Samples: Credit Agreement (Cigna Group), Credit Agreement (Cigna Group)

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Provision of Cover. (a) If there shall occur an Event of Default and the Company is as a result thereof required pursuant to Section 8.01 to provide cover for the Letters of Credit, the Administrative Agent will forthwith establish a separate collateral account (the "Collateral Account") at CitibankJPMorgan, which shall be a "securities account" (as defined in Section 8-501 of the UCC) in respect of which the Administrative Agent is the "entitlement holder" (as defined in Section 8-102(a)(78‑102(a)(7) of the UCC), into which there shall be deposited from time to time the amounts paid to the Administrative Agent as cover.

Appears in 2 contracts

Samples: Credit Agreement (Cigna Corp), Assignment and Assumption (Cigna Corp)

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