Collateral Payments definition

Collateral Payments means Eligible Funds paid by the Lender for the benefit of the Borrowers in respect to the repayment of the Loans, to the Trustee for deposit into the Collateral Fund pursuant to the Loan Agreements and the Indenture as a prerequisite to the disbursement of money held in the Project Fund.

Collateral Payments means Eligible Funds delivered to the Trustee, for the benefit of the Borrower, for deposit into the Collateral Fund pursuant to the Loan Agreement and this Indenture as a prerequisite to the advance of money from the Bond Proceeds Account.

Collateral Payments means Eligible Funds paid to the Trustee for the benefit of the Borrower with respect to the repayment of the Loan for deposit into the Collateral Fund pursuant to Section 4.02 of the Loan Agreement and Section 4.06 hereof as a prerequisite to the advance of money in the Project Fund.

Examples of Collateral Payments in a sentence

• Notwithstanding the foregoing, in the event that the Convertible Note Agent or any of the Convertible Note Holders receives any optional, mandatory or any other cash prepayments from Collateral Payments at any time while the Credit Agreement Obligations are outstanding, other than as a result of the sale or disposition of any STT Collateral, then such party shall promptly turn over such payments to the Collateral Agent for distribution to the Secured Parties in accordance with Section 3 of this Agreement.

• Such Collateral Payments, when so delivered to the Collateral Agent, shall continue to be collateral security for all of the Secured Obligations and shall not constitute payment thereof until applied as hereinafter provided.

• On or before each Disbursement Date, Trustee shall confirm to HUD Mortgagee, and Tax Credit Investor compliance with the terms and conditions of the Section 6 of the Indenture and Section 3.03-3.04 of the Loan Agreement by the Borrower, and upon receipt of the related Collateral Payment(s) by the Trustee, the Trustee shall disburse from the Project Fund, the amount of the requested disbursement in accordance with the Disbursement Request.

• A portion of the Seller Loan Proceeds may be used for application to Collateral Payments required under the Bond Documents.

• All such Collateral Payments shall be paid to the Trustee for the account of the Issuer and shall be held in the Collateral Fund and disbursed in accordance with the provisions of the Indenture.

More Definitions of Collateral Payments

Collateral Payments shall have the meaning ascribed to that term in Section 3 herein.

Collateral Payments means the amounts, consisting of either (a) proceeds of draws on a Letter of Credit received by the Trustee or (b) other Eligible Funds paid by or for the benefit of the Borrower in respect to the repayment of the Loan, to the Trustee for deposit into the Collateral Fund pursuant to Section 4.2 of the Loan Agreement and the Funding Agreement and Section 4.06 hereof as a prerequisite to the advance of money in the Project Fund.

Collateral Payments means all payments and other sums due or to ------------------- become due with respect to any Collateral.

Collateral Payments shall have the meaning assigned thereto in SECTION 10(A) hereof.

Collateral Payments has the meaning assigned thereto in the Pledge and Security Agreement.

Collateral Payments means Eligible Funds to be paid by or on behalf of the Borrower, to the Trustee for deposit into the Collateral Fund pursuant to Section 3.3 of the Loan Agreement and Section 4.09 hereof as a prerequisite to the disbursement of money held in the Project Fund.

Collateral Payments means any cash amounts received by the Trustee, the Company or any Subsidiary Guarantor as payments in respect of the Collateral, whether resulting from a sale or transfer of Collateral (whether or not constituting an Asset Sale), from an Event of Loss, or from the enforcement or exercise of any rights of the Trustee or the Holders under any Collateral Documents, or otherwise constituting Collateral or the proceeds thereof; provided, however, that, so long as no Event of Default shall have occurred and be continuing, the term "Collateral Payments" shall not mean or include any cash amounts received or receivable by the Company or any Subsidiary Guarantor in respect of their use or operation of the Collateral in the ordinary course of business."