Common use of Special Collateral Account Clause in Contracts

Special Collateral Account. Subject to the Intercreditor Agreement, the Collateral Agent may require all cash proceeds of the Collateral to be deposited in a special non-interest bearing cash collateral account with the Collateral Agent and held there as security for the Secured Obligations. The Issuer shall not have any control whatsoever over said cash collateral account. If no Event of Default has occurred or is continuing, the Collateral Agent shall from time to time deposit the collected balances in said cash collateral account into the Issuer’s general operating account with the Collateral Agent. If any Event of Default has occurred and is continuing, subject to the Intercreditor Agreement, the Collateral Agent may, from time to time, in its discretion or at the direction of an Act of Parity Lien Debt Holders, apply the collected balances in said cash collateral account to the payment of the Secured Obligations whether or not the Secured Obligations shall then be due.

Special Collateral Account. Subject to the Intercreditor Agreement, the Collateral Agent may require all cash proceeds of the Collateral to be deposited in a special non-interest bearing cash collateral account with the Collateral Agent and held there as security for the Secured Obligations. The Issuer No Debtor shall not have any control whatsoever over said cash collateral account. If no Event of Default has occurred or is continuing, the Collateral Agent shall from time to time deposit the collected balances in said cash collateral account into the Issuer’s such Debtor's general operating account with the Collateral Agent. If any Event of Default has occurred and is continuing, subject to the Intercreditor Agreement, the Collateral Agent may, from time to time, in its discretion or at the direction of an Act of Parity Lien Debt Holders, apply the collected balances in said cash collateral account to the payment of the Secured Obligations whether or not the Secured Obligations shall then be due.

Special Collateral Account. Subject to the Intercreditor Agreement, the Collateral Agent may require all cash proceeds of the Collateral to be deposited in a special non-interest bearing cash collateral account with the Collateral Agent and held there as security for the Secured Obligations. The Issuer None of the Issuers shall not have any control whatsoever over said cash collateral account. If no Event of Default has occurred or is continuing, the Collateral Agent shall from time to time deposit the collected balances in said cash collateral account into the IssuerVNR’s general operating account with the Collateral Agent. If any Event of Default has occurred and is continuing, subject to the Intercreditor Agreement, the Collateral Agent may, from time to time, in its discretion or at the direction of an Act of Parity Lien Debt Holders, apply the collected balances in said cash collateral account to the payment of the Secured Obligations whether or not the Secured Obligations shall then be due.

Special Collateral Account. Subject to After the Intercreditor Agreementoccurrence and during the continuance of a Default, the Collateral Agent may require all cash proceeds of the Collateral to be deposited in a special non-interest bearing cash collateral account with the Collateral Agent and held there as security for the Secured Obligations. The Issuer No Grantor shall not have any control whatsoever over said cash collateral account. If no Event of Default has occurred or and is continuing, the Collateral Agent shall from time to time deposit the collected balances in said cash collateral account into the Issuerapplicable Grantor’s general operating account with the Collateral Agent. If any Event of Default has occurred and is continuing, subject to the Intercreditor Agreement, the Collateral Agent may, in accordance with the provisions in the Intercreditor Agreement (to the extent the Intercreditor Agreement is in effect), from time to time, in its discretion or at the direction of an Act of Parity Lien Debt Holders, apply the collected balances in said cash collateral account to the payment of the Secured Obligations whether or not the Secured Obligations shall then be due.

Special Collateral Account. Subject to the Intercreditor Agreement, the Collateral Agent may require all cash proceeds of the Collateral to be deposited in a special non-interest bearing cash collateral account with the Collateral Agent and held there as security for the Secured Obligations. The Issuer No Debtor shall not have any control whatsoever over said cash collateral account. If no Event of Default has occurred or is continuing, the Collateral Agent shall from time to time deposit the collected balances in said cash collateral account into the Issuer’s such Debtor's general operating account with the Collateral Agent. If any Event of Default has occurred and is continuing, subject to the Intercreditor Agreement, the Collateral Agent may, from time to time, in its discretion or at the direction of an Act of Parity Lien Debt Holders, apply the collected balances in said cash collateral account to the payment of the Secured Obligations whether or not the Secured Obligations shall then be due.