Examples of Additional Collateral Account in a sentence
The Collateral Administrator shall, on behalf of the Issuer, other than on any Payment Date, cause available amounts standing to the credit of the Collection Accounts, the Pre-Funding Account and the Additional Collateral Account to the extent required to pay the amounts referred to in paragraphs (ii), and (iv) of Condition 3(c) (Priorities of Payments) which are due and payable to be paid to the person entitled to such payment.
Any income from such investments will be deposited to, and become a portion of, the Additional Collateral Account.
The credit balance in the Additional Collateral Account shall not constitute trust funds and may be commingled with the general funds of the Administrative Agent.
Within thirty (30) days following the Closing Date, the Borrowers shall establish a Deposit Account designated as the "Additional Collateral Account" and shall enter into executed Account Control Agreements with respect to such Deposit Account and all other Deposit Accounts and Securities Accounts maintained by any Credit Party.
All sums deposited in the Additional Collateral Account shall be released and applied in accordance with the terms of this Section 10.