Common use of Securities Account Activity Clause in Contracts

Securities Account Activity. So long as no Event of Default exists, Debtor, or any party authorized by Debtor to act with respect to the Securities Account, may (a) receive payments of interest and/or cash dividends earned on financial assets maintained in the Securities Account, (b) subject to the limitation in the following sentence (and, unless and until Bank sends notice pursuant to Section 3.3 of the Securities Account Control Agreement dated April 4, 2008, notwithstanding any provision to the contrary in said Securities Account Control Agreement), withdraw Collateral, and (c) trade financial assets maintained in the Securities Account. Without Bank's prior written consent, except as permitted by the preceding sentence, neither Debtor nor any party other than Bank may withdraw or receive any distribution of any Collateral from the Securities Account. The Collateral Value of the Securities Account shall at all times be equal to or greater than one hundred percent (100%) of the aggregate amount available to be drawn under outstanding Letters of Credit plus the amount drawn and not yet reimbursed under Letters of Credit (the “Exposure Amount”), less the amount then in Debtor’s deposit account * * * (the “Deposit Account”) at Bank (such result, the “Required Amount”.) Debtor understands that Bank will not consider the Collateral Value of the Securities Account unless and until Debtor has at least $100,000,000.00 in the Deposit Account. If the $100,000,000.00 Deposit Account balance condition in the preceding sentence is satisfied and the Collateral Value, for any reason and at any month end (as reflected in the monthly Securities Account statement issued by Xxxxx Capital Management Incorporated) is less than the Required Amount, Debtor shall promptly deposit additional assets of a nature satisfactory to Bank into the Securities Account or Deposit Account, in either case in amounts or with values sufficient to achieve the Required Amount. If the Deposit Account balance is greater than or equal to the Exposure Amount, Debtor has no obligation to maintain Collateral in the Securities Account.

Securities Account Activity. So long as no Event of Default exists, Debtor, or any party authorized by Debtor to act with respect to the Securities Account, may (a) receive payments of interest and/or cash dividends earned on financial assets maintained in the Securities Account, and (b) subject to the limitation in the following sentence (and, unless and until Bank sends notice pursuant to Section 3.3 of the Securities Account Control Agreement dated April 4, 2008, notwithstanding any provision to the contrary in said Securities Account Control Agreement), withdraw Collateral, and (c) trade financial assets maintained in the Securities Account. Without Bank's prior written consent, except as permitted by the preceding sentence, neither Debtor nor any party other than Bank may withdraw or receive any distribution of any Collateral from the Securities Account. The sum of the Collateral Value of the Securities Account Account, plus one hundred percent of the principal balance of any deposit account of Debtor (each, a “Deposit Account”) maintained with Bank in which Bank has a security interest of first priority to secure the Indebtedness of Debtor to Bank secured hereby and that has been identified by its account number in a security agreement executed by Debtor and delivered to Bank (the “Aggregate Collateral Value”), shall at all times be equal to or greater than one hundred percent (100%) of the aggregate outstanding principal balance of the Indebtedness secured hereby, which Indebtedness shall specifically include, without limitation, (i) the face amount available to be drawn under of all issued and outstanding Letters letters of Credit plus the amount drawn credit, if any, and not yet reimbursed under Letters of Credit (ii) any Transactional Risk Exposure (as such term is hereinafter defined) (the “Exposure AmountRequired Minimum Value”), less . In the amount then in Debtor’s deposit account * * * (event that the “Deposit Account”) at Bank (such result, the “Required Amount”.) Debtor understands that Bank will not consider the Collateral Value of the Securities Account unless and until Debtor has at least $100,000,000.00 in the Deposit Account. If the $100,000,000.00 Deposit Account balance condition in the preceding sentence is satisfied and the Aggregate Collateral Value, for any reason and at any month end (as reflected in the monthly Securities Account statement issued by Xxxxx Capital Management Incorporated) time, is less than the Required AmountMinimum Value, Debtor shall promptly make a principal reduction on the Indebtedness secured hereby, deposit additional assets of a nature satisfactory to Bank into the Securities Account Accounts or deposit additional funds into a Deposit Account, in either any case in amounts or with values sufficient to satisfy the Required Minimum Value and achieve the Required Amountrequired Aggregate Collateral Value. If As used herein, the Deposit Account balance is greater than term “Transactional Risk Exposure” shall mean, with respect to Debtor’s non-loan exposure related to treasury services products provided by Bank (specifically including, without limitation, controlled disbursement accounts and automated clearinghouse transactions), the amount of such exposure as may have been reported in writing to Debtor by Bank from time to time. Notwithstanding the form or equal to the Exposure Amountcontent of such written reports, Debtor has no obligation hereby acknowledges and agrees that all of such non-loan exposure shall constitute part of the Indebtedness and that the amount of such non-loan exposure may fluctuate from time to maintain Collateral in the Securities Accounttime.

Securities Account Activity. So long as no Event of Default exists, Debtor, or any party authorized by Debtor to act with respect to the Securities Account, may (a) receive payments of interest and/or cash dividends earned on financial assets maintained in the Securities Account, and (b) subject to the limitation in the following sentence (and, unless and until Bank sends notice pursuant to Section 3.3 of the Securities Account Control Agreement dated April 4, 2008, notwithstanding any provision to the contrary in said Securities Account Control Agreement), withdraw Collateral, and (c) trade financial assets maintained in the Securities Account. Without Bank's prior written consent, except as permitted by the preceding sentence, neither Debtor nor any party other than Bank may withdraw or receive any distribution of any Collateral from the Securities Account. The sum of the Collateral Value of the Securities Account Account, plus one hundred percent of the principal balance of any deposit account of Debtor (each, a “Deposit Account”) maintained with Bank in which Bank has a security interest of first priority to secure the Indebtedness of Debtor to Bank secured hereby and that has been identified by its account number in a security agreement executed by Debtor and delivered to Bank (the “Aggregate Collateral Value”), shall at all times be equal to or greater than one hundred fifty percent (10050%) of the aggregate outstanding principal balance of the Indebtedness secured hereby, which Indebtedness shall specifically include, without limitation, (i) the face amount available to be drawn under of all issued and outstanding Letters letters of Credit plus the amount drawn credit, if any, and not yet reimbursed under Letters of Credit (ii) any Transactional Risk Exposure (as such term is hereinafter defined) (the “Exposure AmountRequired Minimum Value”), less . In the amount then in Debtor’s deposit account * * * (event that the “Deposit Account”) at Bank (such result, the “Required Amount”.) Debtor understands that Bank will not consider the Collateral Value of the Securities Account unless and until Debtor has at least $100,000,000.00 in the Deposit Account. If the $100,000,000.00 Deposit Account balance condition in the preceding sentence is satisfied and the Aggregate Collateral Value, for any reason and at any month end (as reflected in the monthly Securities Account statement issued by Xxxxx Capital Management Incorporated) time, is less than the Required AmountMinimum Value, Debtor shall promptly make a principal reduction on the Indebtedness secured hereby, deposit additional assets of a nature satisfactory to Bank into the Securities Account Accounts or deposit additional funds into a Deposit Account, in either any case in amounts or with values sufficient to satisfy the Required Minimum Value and achieve the Required Amountrequired Aggregate Collateral Value. If As used herein, the Deposit Account balance is greater than term “Transactional Risk Exposure” shall mean, with respect to Debtor’s non-loan exposure related to treasury services products provided by Bank (specifically including, without limitation, controlled disbursement accounts and automated clearinghouse transactions), the amount of such exposure as may have been reported in writing to Debtor by Bank from time to time. Notwithstanding the form or equal to the Exposure Amountcontent of such written reports, Debtor has no obligation hereby acknowledges and agrees that all of such non-loan exposure shall constitute part of the Indebtedness and that the amount of such non-loan exposure may fluctuate from time to maintain Collateral in the Securities Accounttime.

Securities Account Activity. So long as no Event of Default exists, Debtor, or any party authorized by Debtor to act with respect to the Securities Account, may (a) receive payments of interest and/or cash dividends earned on financial assets maintained in the Securities Account, (b) subject to the limitation in the following sentence (and, unless and until Bank sends notice pursuant to Section 3.3 of the Securities Account Control Agreement dated April 4March 18, 2008, notwithstanding any provision to the contrary in said Securities Account Control Agreement), withdraw Collateral, and (c) trade financial assets maintained in the Securities Account. Without Bank's prior written consent, except as permitted by the preceding sentence, neither Debtor nor any party other than Bank may withdraw or receive any distribution of any Collateral from the Securities Account. The Collateral Value of the Securities Account shall at all times be equal to or greater than one hundred percent (100%) of the aggregate amount available to be drawn under outstanding Letters of Credit plus the amount drawn and not yet reimbursed under Letters of Credit (the “Exposure Amount”), less the amount then in Debtor’s deposit account * * * (the “Deposit Account”) at Bank (such result, the “Required Amount”.) Debtor understands that Bank will not consider the Collateral Value of the Securities Account unless and until Debtor has at least $100,000,000.00 in the Deposit Account. If the $100,000,000.00 Deposit Account balance condition in the preceding sentence is satisfied and the Collateral Value, for any reason and at any month end (as reflected in the monthly Securities Account statement issued by Xxxxx Wxxxx Capital Management Incorporated) is less than the Required Amount, Debtor shall promptly deposit additional assets of a nature satisfactory to Bank into the Securities Account or Deposit Account, in either case in amounts or with values sufficient to achieve the Required Amount. If the Deposit Account balance is greater than or equal to the Exposure Amount, Debtor has no obligation to maintain Collateral in the Securities Account.