Special Collateral Account. Subject to the provisions of Section 7.1, all cash received by the Agent or the Revolving Lenders, if any, with respect to the Collateral shall be deposited in a special collateral account with the Agent for the Revolving Lenders and shall be held by the Agent as security for the Obligations. The Guarantor shall have no control whatsoever over said special collateral account. The Agent may, but is not required to, at any time and from time to time, in its sole discretion, apply any part of the credit balance in said special collateral account to the payment of the Obligations, in accordance with the Revolving Credit Agreement, whether or not the Obligations shall be then due.
Appears in 4 contracts
Samples: Stock Pledge Agreement (Ameritrade Holding Corp), Stock Pledge Agreement (Ameritrade Holding Corp), Stock Pledge Agreement (Ameritrade Holding Corp)
Special Collateral Account. Subject to the provisions of Section 7.1, all cash received by the Agent or the Revolving Lenders, if any, with respect to the Collateral shall be deposited in a special collateral account with the Agent for the Revolving Lenders and shall be held by the Agent as security for the Obligations. The Guarantor Borrower shall have no control whatsoever over said special collateral account. The Agent may, but is not required to, at any time and from time to time, in its sole discretion, apply any part of the credit balance in said special collateral account to the payment of the Obligations, in accordance with the Revolving Credit Agreement, whether or not the Obligations shall be then due.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Ameritrade Holding Corp), Stock Pledge Agreement (Ameritrade Holding Corp), Stock Pledge Agreement (Ameritrade Holding Corp)
Special Collateral Account. Subject to the provisions of Section 7.1, all cash received by the Agent or the Revolving Lenders, if any, with respect to the Collateral shall be deposited in a special collateral account with the Agent for the Revolving Lenders and shall be held by the Agent as security for the Obligations. The Guarantor Borrower shall have no control whatsoever over said special collateral account. The Agent may, but is not required to, at any time and from time to time, in its sole discretion, apply any part of the credit balance in said special collateral account to the payment of the Obligations, in accordance with the Revolving Credit Agreement, whether or not the Obligations shall be then due.
Appears in 2 contracts
Samples: Stock Pledge Agreement (Ameritrade Holding Corp), Stock Pledge Agreement (Ameritrade Holding Corp)
