Cash Security Account definition

Cash Security Account means Money Market Account number ▇▇▇▇▇▇▇, together with all proceeds and substitutions thereof, all interest paid thereon, and all other cash and non-cash proceeds of the foregoing.

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Cash Security Account means Demand Deposit Account number [***], together with all proceeds and substitutions thereof, all interest paid thereon, and all other cash and non-cash proceeds of the foregoing.

Cash Security Account means segregated Certificate of Deposit, account No. ▇▇▇▇▇▇▇▇, held at Bank as collateral for Borrower’s Obligations, in a minimum amount of $5,000,000.

Examples of Cash Security Account in a sentence

Each Borrower authorizes Bank to hold in pledge the balances required to be held in the Cash Security Account pursuant to Section 6.12 of this Agreement, and to decline to honor any drafts thereon or any request by a Borrower or any other Person to pay or otherwise transfer any part of such balances, for so long as any Obligations are outstanding.
For so long as any portion of the Term Loan remains outstanding, Borrower shall at all times maintain the Cash Security Account, with a balance of cash in the Cash Security Account at all times equal to at least the aggregate principal amount of the Term Loan then outstanding.
Borrower authorizes Bank to hold in pledge the balances required to be held in the Cash Security Account pursuant to Section 6.7 of this Agreement, and to decline to honor any drafts thereon or any request by Borrower or any other Person to pay or otherwise transfer any part of such balances, for so long as any Obligations are outstanding.
If no agreement has been made, such proceeds shall be placed into an interest- bearing account at Bank until such time as an agreement as to the security replacing the original Cash Security Account can be reached.
Borrower shall enter into such agreements as Bank requests in order to perfect or ensure the priority of Bank’s security interest in the Cash Security Account.
Upon maturity, if any, of the Cash Security Account in accordance with its terms, or in the event that the Cash Security Account otherwise becomes payable during the term of this Agreement, such maturing Cash Security Account may be presented for payment, exchange, or otherwise marketed by Bank on behalf of Borrowers and the proceeds therefrom used to purchase the security or instrument agreed to by Borrowers and Bank in accordance with the immediately preceding sentence.
Borrowers shall enter into such agreements as Bank requests in order to perfect or ensure the priority of Bank’s security interest in the Cash Security Account.
Borrower shall at all times maintain the Cash Security Account, with a balance of cash in such Cash Security Account at all times greater than or equal to (1) the aggregate amount of all Credit Extensions then outstanding, less (ii) $15,000,000.
Code, Bank’s Lien on the Cash Security Account will remain in effect for so long as any Obligations are outstanding.
Notwithstanding anything to the contrary in this Agreement, if Bank determines that an Advance or Term Loan requested by a Borrower would result in the aggregate outstanding Credit Extensions exceeding $15,000,000, then Bank may credit to the Cash Security Account the amount of such Advance or Term Loan as is necessary to cause the amount of outstanding Credit Extensions above $15,000,000 to be cash-secured by cash in the Cash Security Account.

More Definitions of Cash Security Account

Cash Security Account means segregated deposit account, account No. ▇▇▇▇▇▇▇, held at Bank as collateral for Borrower’s Obligations.

Cash Security Account means segregated Certificate of Deposit, account No. 60100378, held at Bank as collateral for Borrower’s Obligations, in a minimum amount of $10,000,000.

Cash Security Account means, in respect of any Loan Facility, an account (if any) of the Loan Facility Provider established in accordance with the Account Agreement or another account agreement in respect of Charged Cash in respect of such Loan Facility; Certificate of Title has the meaning given to that term in the Security Trust Deed, provided that the disclosures contained in each Certificate of Title will be subject to the disclosures contained in any reliance or top-up letters amending or updating the disclosures contained in such Certificate of Title; CHAPS means the Clearing House Automated Payment System; Change of Law means a change occurring after the date of the Loan Facility Agreement in respect of the corresponding Series of Notes to the applicable law in England and Wales such that the provisions of Part II of the Insolvency Act 1986 shall apply to a Guarantor or any similar provision in each case the effect of which would be to permit a moratorium in respect of the Security Trustee enforcing any Security Document; Charged Cash means, in respect of each Loan Facility, at any time, the amounts standing to the credit of the Cash Security Account (if any) at such time for the purpose of compliance by the Group Borrower with the terms of the relevant Loan Facility Agreement;

Cash Security Account means the account to be established by Timbercorp in the name of the Trustee into which funds raised under this prospectus, cash receipts from the payment of Receivables and proceeds from the Authorised Investment (if any), must be deposited;

Cash Security Account means the interest-bearing U.S. Dollar account established by the Lender at its main branch in Toronto, Ontario with the account number referred to in the hypothecation agreement between the Borrower and the Lender to be delivered pursuant to Section 11.1(f);