Collateral Account Termination Date definition

Collateral Account Termination Date has the meaning set forth in Section 5.2(a).

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Collateral Account Termination Date means, with respect to any Holder that has had payments deposited into the Class A-2 Holder Collateral Account pursuant to the last sentence of Section 3.02(c), the earliest to occur of (a) the assignment by such Holder of all of its rights and obligations pursuant to Section 3.02(c), (b) the Holder delivering a certification in writing that such Holder has satisfied in full all previously defaulted obligations to make Advances under Section 2.01 and (c) the end of the Revolving Period.

Collateral Account Termination Date the date of termination of each L/C Agreement and of the final and irrevocable termination of all the Secured Parties’ obligations to make any payments thereunder or under the letters of credit issued thereunder and the termination of all Cards and the Secured Parties’ obligations to make any payments or reimbursements thereunder.

Examples of Collateral Account Termination Date in a sentence

Upon the Collateral Account Termination Date and the release of all funds therein to (or on behalf of) Newark, all provisions hereof and of the Security Agreement relating to the Collateral Account shall be terminated, the Collateral Account shall be closed and the related Account Control Agreement shall terminate.
Thereafter until the Collateral Account Termination Date, by no later than the first day of any Interest Period, Newark shall deposit (or cause to be deposited) into the Collateral Account any amounts necessary so that the amounts on deposit therein shall at least equal the Collateral Account Reserve Amount for such Interest Period.
At the close of business of the Securities Intermediary on the Collateral Account Termination Date, this Agreement and all obligations (other than those expressly stated to survive termination) of the parties hereunder shall terminate.
Upon the Collateral Account Termination Date and the release of all funds therein to (or on behalf of) the Borrower, all provisions hereof and of the Security Agreement relating to the Collateral Account shall be terminated, the Collateral Account shall be closed and the related Account Control Agreement shall terminate.
Thereafter until the Collateral Account Termination Date, by no later than the first day of any Interest Period, the Borrower shall deposit (or cause to be deposited) into the Collateral Account any amounts necessary so that the amounts on deposit therein shall at least equal the Collateral Account Reserve Amount for such Interest Period.

More Definitions of Collateral Account Termination Date

Collateral Account Termination Date the earlier of (i) the first date on which the amount on deposit in the Collateral Account is zero, (ii) the Maturity Date and (iii) the date on which the Obligations are prepaid in full.

Collateral Account Termination Date means, with respect to any Holder that (i) has deposited cash into the Holder Subaccount pursuant to Section 3.02(c) or (ii) has had payments deposited into the Holder Subaccount pursuant to the last sentence of Section 3.02(c), the earliest to occur of (a) the assignment by such Holder of all of its rights and obligations pursuant to Section 3.02(c), (b)(x) in the case of a Holder described in clause (i) above, the delivery by such Holder, to the Co-Issuers, the Class A-1AR Note Agent, the Collateral Manager, the Trustee and each Rating Agency, of a certification in writing that such Holder satisfies the Class A-1AR Ratings Criteria, such certification to include a letter from each Rating Agency establishing such ratings upgrade or such other evidence as shall be reasonably satisfactory to the Trustee, the Class A-1AR Note Agent, the Collateral Manager and the Co-Issuers and (y) in the case of a Holder described in clause (ii) above, the delivery by such Holder of a certification in writing that such Holder has satisfied in full all previously defaulted obligations to make Advances under Section 2.01 and (c) the end of the Revolving Period.