Cash Collateralized Letter of Credit definition

Cash Collateralized Letter of Credit has the meaning specified in Section 2.03(o).

Cash Collateralized Letter of Credit means a Letter of Credit requested to be issued as a Cash Collateralized Letter of Credit in accordance with Section 2.06(b) or converted into a Cash Collateralized Letter of Credit pursuant to Section 2.06(l) and otherwise issued in accordance with the conditions hereunder applicable to a Cash Collateralized Letter of Credit, provided that upon effectiveness of the conversion of any Cash Collateralized Letter of Credit in accordance with Section 2.06(l), such Letter of Credit shall no longer be a “Cash Collateralized Letter of Credit” for purposes of this Agreement.

Cash Collateralized Letter of Credit means a Letter of Credit for which cash collateral has been provided pursuant to clause (a) of the definition of “Letter of Credit Collateralization.”

Examples of Cash Collateralized Letter of Credit in a sentence

• Each Lender, the Administrative Agent and the Collateral Agent agree and acknowledge, and shall instruct the Collateral Trustee, that each LC Issuer under any Cash Collateralized Letter of Credit Facility is an express third party beneficiary with respect to this Section 9.21(b) and such LC Issuer shall have the right to enforce compliance by the Lenders, the Administrative Agent, the Collateral Agent and the Collateral Trustee with this Section 9.21(b).

• Each Technical Report has a number of the form TR10xxx, and we mention these reference numbers below.

• Except during a Collateral Release Period, at all times own, pledge and grant a first-priority security interest to the Collateral Trustee, for the benefit of the Secured Parties, in 100% of the Equity Interests of any Funded L/C SPV then in existence owned directly or indirectly by the Borrower (other than any preferred interests owned by any LC Issuer or other Persons on behalf of, or at the request of, any LC Issuer in connection with Cash Collateralized Letter of Credit Facilities).

• Cash Collateral provided with respect to a Cash Collateralized Letter of Credit solely in accordance with the provisions of Section 2.15(a)(iv) shall be promptly released to the Collection Account to be applied in accordance with Section 2.07(c) following the expiration or termination of such Cash Collateralized Letters of Credit.

• At all times own, pledge and grant a first-priority security interest to the Collateral Trustee, for the benefit of the Secured Parties, in 100% of the Equity Interests of the Funded L/C SPV owned directly or indirectly by the Borrower (other than any preferred interests owned by any LC Issuer or other Persons on behalf of, or at the request of, any LC Issuer in connection with Cash Collateralized Letter of Credit Facilities).

More Definitions of Cash Collateralized Letter of Credit

Cash Collateralized Letter of Credit means those Letters of Credit that are secured by Borrowers’ deposits to the Cash Collateral Account as required pursuant to Section 2.13(B), Section 3.2(B) and Section 8.1(B).

Cash Collateralized Letter of Credit or “Cash Collateralized Letters of Credit” shall mean, singularly or collectively, as the context may require, any Letter of Credit, with respect to which the Borrower, at its sole discretion, has deposited with the Issuing Bank on behalf of the Lenders in same day funds at the Issuing Bank’s office designated by the Issuing Bank, for deposit in the Pre-Default L/C Cash Collateral Account, an amount equal to the applicable outstanding Letter of Credit issued by the Issuing Bank which are to be Cash Collateralized Letters of Credit.

Cash Collateralized Letter of Credit means a Letter of Credit in relation to which the Borrower has deposited an amount in cash or Cash Equivalents equal to the face amount of such Letter of Credit in the Cash Collateralized Letter of Credit Account.

Cash Collateralized Letter of Credit has the meaning given to such term in Section 3.12(d).

Cash Collateralized Letter of Credit means a Letter of Credit requested to be issued as a Cash Collateralized Letter of Credit in accordance with Section 2.06(b) or converted into a Cash Collateralized Letter of Credit pursuant to Section 2.06(l) and otherwise issued in accordance with the conditions hereunder applicable to a Cash Collateralized Letter of Credit, provided that upon

Cash Collateralized Letter of Credit to read in full as follows:

Cash Collateralized Letter of Credit means any Letter of Credit that is fully Cash Collateralized as described in Section 2.03 after the Maturity Date in accordance with the terms of this Agreement.