Cash Collateralized Letters of Credit definition

Cash Collateralized Letters of Credit means any letter of credit permitted pursuant to Section 8.1(k) and subject to a Cash Collateral Agreement, along with any renewals, replacements or extensions thereof. The Cash Collateralized Letters of Credit as of the Closing Date are described by amount and the date of expiry on Schedule 1.1B.

Cash Collateralized Letters of Credit means any letter of credit permitted pursuant to Section 4.03(b)(14) and subject to a Cash Collateral Agreement, along with any renewals, replacements or extensions thereof.

Cash Collateralized Letters of Credit means Letters of Credit, or a portion thereof, to the extent the Borrowers have provided Cash Collateral that remains in the sole dominion and control of the Administrative Agent in an amount no less than the Minimum Collateral Amount pursuant to Section 2.15(a)(iv).

Examples of Cash Collateralized Letters of Credit in a sentence

• To the extent that any payment made under the previous sentence is insufficient to cause the Letter of Credit Obligations to be equal to or less then the Availability, Borrowers agree, jointly and severally, to immediately deposit with Agent an amount of cash equal to the entire Letter of Credit Obligation with respect to one or more Letters of Credit which are causing the deficiency (which, for this purpose, shall be deemed to be Cash Collateralized Letters of Credit) in the Cash Collateral Account.

• Any deposit made to the Cash Collateral Account pursuant to this Section 2.13(B)(i) shall be used exclusively to facilitate the issuance of Cash Collateralized Letters of Credit requested hereunder and shall not affect the Availability or Borrowing Base.

• 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.

• Revenue comprises franchise-related fees, rental income, proceeds from the sale of supplies and promotional items and related services.

• Not later than 1:00 p.m. Eastern time (10:00 am Pacific time) on the date of any payment made by, or caused to be made by, the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Domestic Borrowers shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing, which reimbursement, in the case of Cash Collateralized Letters of Credit, shall be made pursuant to Section 2.15(c).

More Definitions of Cash Collateralized Letters of Credit

Cash Collateralized Letters of Credit means any letter of credit that is 100% cash collateralized.

Cash Collateralized Letters of Credit means any cash collateralized letters of credit (other than Letters of Credit issued hereunder) or bank guarantees issued by Bank of America, N.A. or Xxxxx Fargo Bank (or other banks in jurisdictions in which neither Bank of America, N.A. nor Xxxxx Fargo Bank can issue letters of credit or bank guarantees) issued on behalf of the Borrower or its Subsidiaries.

Cash Collateralized Letters of Credit has the meaning set forth in the definition of Permitted Liens.

Cash Collateralized Letters of Credit means those certain Letters of Credit (i) not exceeding $30,000,000 in face amount outstanding at any time, (ii) issued pursuant to the Credit Agreement, (iii) that at the time of issuance by the Issuing Bank have an expiration date that extends beyond the maturity date of the Credit Agreement as of the date hereof, (iv) that are collateralized by the grant of a perfected first priority security interest in cash collateral to be held by the Bank Agent in an amount not more than 105% of the face amount of each such issued and outstanding Letter of Credit, and (v) that the Bank Agent has not been prohibited from realizing upon any or all of the cash held as security for such Letters of Credit.

Cash Collateralized Letters of Credit means the Purchaser Cash Collateralized Letters of Credit and the Sellers Cash Collateralized Letters of Credit.

Cash Collateralized Letters of Credit means any letter of credit permitted pursuant to Section 8.1(k) and subject to a Cash Collateral Agreement, along with any renewals, replacements or extensions thereof. The Cash Collateralized Letters of Credit as of the Closing Date are described by amount and the date of expiry on Schedule 1.1B .

Cash Collateralized Letters of Credit means Letters of Credit with respect to which cash in the amount of such Letters of Credit has been deposited in the L/C Cash Collateral Account as provided in SECTION 2.15(g)(i) hereof.