Cash Collateral Account definition

Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

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Cash Collateral Account means a deposit account with, and in the name of, the Administrative Agent, for the benefit of the Lenders, established and maintained for the deposit of cash collateral required under or in connection with this Agreement and the other Loan Documents.

Cash Collateral Account means an account held at, and subject to the sole dominion and control of, the Collateral Agent.

Examples of Cash Collateral Account in a sentence

For purposes of this Agreement, the Servicer shall be deemed to have received any amount when the sub-servicer receives such amount, irrespective of whether such amount is remitted to the Servicer for deposit in the Collection Account, any Cash Collateral Account, any Reserve Account or the Distribution Account, and actions taken by the sub-servicer shall be deemed to be actions of the Servicer.
Any amounts remaining in the Cash Collateral Account after the expiration of all Letters of Credit and reimbursement in full of each Issuing Bank for all of its obligations thereunder shall be held by the Administrative Agent, for the benefit of the Borrower, to be applied against the Obligations in such order and manner as the Administrative Agent may direct.
Other than any interest on the investment of such amounts in Cash Equivalents, which investments shall be made at the direction of the Borrower (unless an Event of Default shall have occurred and be continuing, in which case the determination as to investments shall be made at the option and in the discretion of the Administrative Agent), amounts in the Cash Collateral Account shall not bear interest.
The Borrower hereby grants (or, if registration thereof is required in any applicable jurisdiction, shall grant) to the Administrative Agent, for the benefit of the Issuing Banks and the Lenders, a Lien upon and security interest in the Cash Collateral Account and all amounts held therein from time to time as security for Letter of Credit Usage, and for application to the Borrower’s Letter of Credit Obligations as and when the same shall arise.

More Definitions of Cash Collateral Account

Cash Collateral Account means a non-interest bearing account established by one or more of the Loan Parties with ▇▇▇▇▇ Fargo, and in the name of, the Agent (or as the Agent shall otherwise direct) and under the sole and exclusive dominion and control of the Agent, in which deposits are required to be made in accordance with Section 2.03(k) or 8.02(c).

Cash Collateral Account has the meaning provided in Section 2.11(b).

Cash Collateral Account is defined in Section 6.3(c).

Cash Collateral Account has the meaning set forth in Section 4.01(a)(ii).

Cash Collateral Account shall have the meaning given to such term in Section 3.8.

Cash Collateral Account has the meaning ascribed to it Annex B.

Cash Collateral Account means the Class A Cash Collateral Account or the Class B Cash Collateral Account, as applicable.