Collateral Reserve Account definition

Collateral Reserve Account means a non-interest bearing, demand deposit account which the Borrower and Guarantors may be required to open and maintain with the Agent for the benefit of the Secured Parties pursuant to the requirements of Section 2.14.

Collateral Reserve Account means any non-interest bearing, demand ---------------------------- deposit account which Borrower is or may be required to open and maintain with Lender pursuant to the requirements of Section 4.4.

Collateral Reserve Account means each Deposit Account (a) over which the Agent has control by virtue of such Deposit Account's being maintained with the Agent or other Approved Depositary and (b) which Borrowers or Guarantors are or may be required to open and maintain with the Agent pursuant to the requirements of SECTION 2.

Examples of Collateral Reserve Account in a sentence

• In accordance with and as more fully set forth in the Security Agreement, the Borrower and each Guarantor shall: (1) establish and maintain a lockbox; and (2) upon the request of the Required Banks, establish and maintain with the Agent a Collateral Reserve Account.

• If applicable, that agreement between Bank and Borrower whereby Borrower agrees that all remittances in payment of Accounts which are deposited to the Collateral Reserve Account will be applied to the outstanding Line of Credit, as well as other provisions of the Loan Documents.

• Participants entering into a Collateral Reserve Account arrangement will be required to comply with the Account Security Requirements as set out in G.1.5 of the Code.

• Notwithstanding the foregoing, however, so long as no Event of Default exists, Lender agrees to settle with Borrower as to any funds which may exist in the Collateral Reserve Account from time to time hereafter on a mutually agreeable periodic basis.

• In the event any items or payment described in this Section 7.16 are inadvertently received by any of the Credit Parties or any other Person, whether or not in accordance with the terms of this Agreement, such Credit Party or such Person shall be deemed to hold the same in trust for the benefit of the Collateral Agent and promptly forward them to the Collateral Agent for deposit in a Domestic Collateral Reserve Account or the Domestic Concentration Account.

More Definitions of Collateral Reserve Account

Collateral Reserve Account means a demand deposit account which one or more of the Obligors may be required to open and maintain with Lender pursuant to the requirements of Section 4.4 for the concentration and collection of proceeds of certain Collateral.

Collateral Reserve Account means the account of that name in the name of the Issuer with the Account Bank or any further or other account so named or redesignated account into which the Issuer will procure amounts are deposited in accordance with Condition 3(i)(iv) (Collateral Reserve Account).

Collateral Reserve Account has the meaning set forth in the Security Agreement.

Collateral Reserve Account is the demand deposit account maintained with the Collateral Agent by the Borrower into which all proceeds of the Accounts shall be deposited and to which only the Collateral Agent will have access. The term “Collateral Reserve Account” shall be deemed to include any substitute or replacement account at the Collateral Agent.

Collateral Reserve Account has the meaning set forth in the Cash Collateral and Disbursement Agreement.

Collateral Reserve Account an account established at Wachovia for the purpose of receiving payments or proceeds to be held, invested, and distributed in accordance with the terms of this Agreement.

Collateral Reserve Account shall be deemed to include any substitute or replacement account at the Collateral Agent.