Casualty Account definition

Casualty Account has the meaning stated in Section 10.7(b).

Casualty Account. The account established pursuant to Section 301 of the ICF Indenture.

Casualty Account means the account established and maintained by the Collateral Trustee into which any insurance proceeds or other payments in connection with the occurrence of a Total Loss to any Vessel then subject to an Initial Charter that has not reached its first optional termination date shall be deposited in accordance with the related Mortgage.

Examples of Casualty Account in a sentence

• All Casualty Proceeds and Condemnation Awards (both as defined in the Indenture, and which are collectively defined in the Indenture as "Available Proceeds") shall be remitted and paid to the Trustee by the Lessee, the Lessor or ADESA, as applicable, for deposit in the Casualty Account (as defined and established under the Indenture) for disbursement, all as provided for in Section 6.3 of the Indenture.

• The Servicer shall direct the investment of any cash deposited in the ICF Holding Account, the ICF Collection Account, the ICF Cash Collateral Account, the ICF Deposit Account, the Casualty Account and each other ICF Securities Account in such Eligible Investments as a Servicing Officer shall direct the ICF Indenture Trustee in writing.

• Funds on deposit in the Casualty Account shall be disbursed by the Collateral Agent in accordance with Section 3.3(g).

• Any interest or other earnings accrued on any balances in the Casualty Account, or on any investment thereof, shall be credited to and accumulated in the Casualty Account and thereafter be applied without differentiation from other funds in the Casualty Account.

• At any time that an Event of Default shall have occurred and be continuing and an Enforcement Action has been initiated, upon its receipt of notice thereof from any Lender, the Collateral Agent shall transfer (or caused to be transferred) from the collected credit balance of the Casualty Account only those amounts as directed in writing by the Required Lenders.

More Definitions of Casualty Account

Casualty Account means the account established pursuant to Section 301 of the ICF Indenture.

Casualty Account has the meaning stated in Section 10.8(b).

Casualty Account shall have the meaning set forth for such term in SECTION [2.2(a)] of the Amended Security Deposit Agreement.

Casualty Account means the account established and maintained by the Collateral Agent pursuant to Section 3.1(f).

Casualty Account means the account established and maintained by the Collateral Trustee into which any insurance proceeds or other payments in connection with the occurrence of a Total Loss to any Vessel shall be deposited in accordance with the related Mortgage.

Casualty Account means the casualty account of the Borrower maintained pursuant to Article IV hereof by the Collateral Agent with Citibank's office at 100 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Account No.30000000, ABA No. 02100008-9, FBO A/C 103561 Northeast, Attention: Oxxxxx Xxxxx.

Casualty Account means the account established and maintained by the Indenture Trustee pursuant to Section 3.1(d).