Cash Trap Account definition
Cash Trap Account shall have the meaning assigned to such term in the Cash Trap Account Security Agreement.
Cash Trap Account means the account designated as such under Clause 18.1 (Designation of Accounts) and includes any replacement of that Account.
Cash Trap Account has the meaning set forth in Section 3.13(c).
Examples of Cash Trap Account in a sentence
So long as no Cash Trap Event has occurred and is continuing, funds on deposit in the Cash Trap Account may, at the discretion of the Borrower, be immediately transferred to the Available Cash Account.
The Borrower shall deposit, or cause to be deposited, in the Cash Trap Account all amounts transferred from the Available Cash Account pursuant to Section 2.20(b)(vii).
More Definitions of Cash Trap Account
Cash Trap Account as defined in Section 2.1(b)(v).
Cash Trap Account means the account designated as such in Schedule 14.1.1 – Transaction Accounts.
Cash Trap Account a deposit account of the Borrower that has been designated as the “Cash-Trap Account” by the Borrower to the Administrative Agent and, subject to Section 5.10, is subject to a first-priority perfected security interest and a control agreement in favor of the Administrative Agent for the benefit of the Lenders.
Cash Trap Account means the account referred to as such in clause 21 (Bank Accounts);
Cash Trap Account in writing by the Initial Borrower to the Administrative Agent. “Cash Trap Event” shall mean the occurrence and continuance of a material breach of the Master Services Agreement (for the avoidance of doubt, solely as they relate to Phoenix 1) giving rise to termination rights as they relate to Phoenix 1 by (a) OpenAI OpCo, LLC or (b) the Co-Borrower (but solely as a result of the failure of OpenAI OpCo, LLC to pay all amounts required to be paid by it to the Co- Borrower under the Master Services Agreement for three consecutive months), in either case, pursuant to Section 10b of the Master Services Agreement. “Casualty Event” shall mean any event that causes all or a portion of any Infrastructure or Uncontracted Infrastructure to be materially damaged, destroyed or rendered unfit for its intended use for any reason whatsoever. A “Change in Control” shall be deemed to occur if, at any time: (a) the Parent or any successors or assigns shall cease to Control or beneficially directly or indirectly own 100% of the issued and outstanding Equity Interests of CoreWeave Debt Holdco I, LLC;
Cash Trap Account means a securities or deposit account of the Borrower established with an Acceptable Account Bank and designated as the “Cash Trap Account” in writing by the Borrower to the Administrative Agent.
Cash Trap Account means the bank account opened in the name of the Issuer with the