Canadian Cash Collateral Account definition

Canadian Cash Collateral Account a demand deposit, money market or other account established by Agent at Bank of America (Canada) or such other financial institution as Agent may select in its discretion, which account shall be for the benefit of the Canadian Facility Secured Parties and shall be subject to Agent’s Liens securing the Canadian Facility Obligations.

Canadian Cash Collateral Account has the meaning specified in the Security Agreement.

Canadian Cash Collateral Account means a special cash collateral account pledged to the Canadian Administrative Agent containing cash deposited pursuant to the terms hereof to be maintained with the Administrative Agent in accordance with Section 2.3.

Examples of Canadian Cash Collateral Account in a sentence

• If there remains any excess cash security, such excess cash shall be withdrawn by the Collateral Agent from the U.S. L/C Cash Collateral Account or the Canadian Cash Collateral Account, as applicable, and distributed in accordance with Section 1.03(c)(i) hereof.

• In the event that any Canadian Letter of Credit shall be outstanding or shall be drawn and not reimbursed after the Maturity Date, the Canadian Borrower shall pay to the Canadian Administrative Agent an amount equal to 103% of the Dollar Equivalent of the Canadian Letter of Credit Exposure allocable to such Letter of Credit to be held in the Canadian Cash Collateral Account and applied in accordance with paragraph (h) below.

• At the beginning of each Business Day, transfer to the US Cash Collateral Account such amounts of Canadian dollars as shall be necessary to cause the aggregate amount of available funds on deposit in the Canadian Cash Collateral Account and the Deposit Accounts not to exceed $30,000,000 Canadian dollars.

• In the event that any Canadian Letter of Credit shall be outstanding or shall be drawn and not reimbursed after the Revolving Maturity Date, the Canadian Borrower shall pay to the Canadian Administrative Agent an amount equal to the Canadian Letter of Credit Exposure allocable to such Letter of Credit to be held in the Canadian Cash Collateral Account and applied in accordance with paragraph (i) below.

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More Definitions of Canadian Cash Collateral Account

Canadian Cash Collateral Account a demand deposit, money market or other account established by Agent at Bank of America (Canada) or such other financial institution as Agent may select in its discretion, which account shall be for the benefit of the Canadian Facility Secured Parties and shall be subject to Agent’s Liens securing the Canadian Facility Obligations. Canadian Dilution Reserve: as of any date of determination, an amount sufficient to reduce the advance rate against Eligible Accounts of the Canadian Borrower by 1% for each whole percentage point (or portion thereof) by which the Dilution Percent is in excess of 5.0%. Canadian Dollars or Cdn$: the lawful currency of Canada.

Canadian Cash Collateral Account means a collateral account established with the Canadian Revolving Lender, in the name of the Canadian Revolving Lender and under its sole dominion and control, into which the Canadian Subsidiary Borrower shall from time to time deposit cash or Cash Equivalents pursuant to the express provisions of this Agreement requiring such deposit.

Canadian Cash Collateral Account a demand deposit, money market or other account established by Agent at Bank of America (Canada) or such other financial institution as Agent may select in its discretion with the consent of North American Loan Party Agent (not to be unreasonably withheld or delayed), which account shall be for the benefit of the Canadian Facility Secured Parties and shall be subject to Agent’s Liens securing the Canadian Facility Secured Obligations; provided that the foregoing consent of North American Loan Party Agent to the selection by Agent in its discretion of a financial institution other than Bank of America (Canada) shall not be required if an Event of Default has occurred and is continuing. Canadian Dollars or Cdn$: the lawful currency of Canada.

Canadian Cash Collateral Account a cash collateral account with Bank of Montreal or such other bank as may be reasonably acceptable to the Administrative Agent, in the name of the Borrower that has entered into a letter agreement substantially in the form of Exhibit A-2-A.

Canadian Cash Collateral Account has the meaning specified in Section 5.01(n).

Canadian Cash Collateral Account shall have the meaning assigned to that term in Section 2.10 of the General Security Agreement referred to in clause (ii) of the definition of "Canadian Security Documents" in this Section 1.01. SECOND AMENDED AND RESTATED CREDIT AGREEMENT 118 - 10 -

Canadian Cash Collateral Account means account number 2012-176018 maintained with Citibank Canada in Toronto, Ontario (i) into which proceeds of Collateral (in Dollars) of the Canadian Borrower shall be deposited and (ii) from which, subject to the provisions of Section 3.05, funds will be transferred (A) to the Dollar Disbursement Accounts of the Canadian Borrower or (B) to the Canadian Cash Collection Account (after conversion of such funds from Dollars to Canadian Dollars).