Qualified Investments Account. (a) If a FERC-Regulated Restricted Subsidiary receives Net Cash Proceeds from the Disposition of a Covered Asset as described in clause (d) of the definition of “Mandatory Asset Reduction Event”, then the Company shall deposit, or cause to be deposited, into the Collateral Account, within five days after such receipt, the amount, if any, by which the portion of such Net Cash Proceeds that is not deemed to have been invested in Qualified Investments described in clause (a)(ii) or (a)(iii) of the definition thereof exceeds $100,000,000.
Appears in 12 contracts
Samples: Security Agreement (El Paso Natural Gas Co), Credit Agreement (Tennessee Gas Pipeline Co), Credit Agreement (El Paso Natural Gas Co)
Qualified Investments Account. (a) If a FERC-Regulated Restricted Subsidiary receives Net Cash Proceeds from the Disposition of a Covered Asset as described in clause (de) of the definition of “Mandatory Asset Reduction Prepayment Event”, then the Company shall deposit, or cause to be deposited, into the Collateral Account, within five days after such receipt, the amount, if any, by which the portion of such Net Cash Proceeds that is not deemed to have been invested in Qualified Investments described in clause (a)(ii) or (a)(iii) of the definition thereof exceeds $100,000,000.
Appears in 7 contracts
Samples: Security Agreement (El Paso CGP Co), Security Agreement (El Paso Natural Gas Co), Security Agreement (Tennessee Gas Pipeline Co)
