Credit Card Cash Collateral Account definition

Credit Card Cash Collateral Account means, collectively, each segregated Deposit Account from time to time identified to Agent in writing established by Borrower for the sole purpose of securing Borrower’s obligations under clause (g) of the definition Permitted Debt and containing only such cash or cash equivalents that have been required to be pledged to secure such obligations of Borrower; provided, that the aggregate amount of cash or cash equivalents deposited in such Credit Card Cash Collateral Account does not, at any time, exceed [***] in the aggregate.
Sample 1Sample 2Sample 3
Credit Card Cash Collateral Account means, collectively, each segregated Deposit Account from time to time identified to Agent in writing established by Borrower for the sole purpose of securing Borrower’s obligations under clause (h) of the definition Permitted Debt and containing only such cash or Cash Equivalents that have been required to be pledged to secure such obligations of Borrower; provided, that the aggregate amount of cash or Cash Equivalents deposited in all such Credit Card Cash Collateral Account(s) does not, at any time, exceed $500,000 in the aggregate.
Sample 1Sample 2Sample 3
Credit Card Cash Collateral Account means, collectively, (x) that certain Deposit Account of Mohawk maintained at Silicon Valley Bank and (y) that certain Deposit Account of Mohawk maintained at HSBC Bank, in each case, for the sole purpose of securing Borrower’s obligations under clause (h) of the definition Permitted Debt; provided, that the aggregate amount of cash or cash equivalents deposited in such Deposit Accounts does not, at any time, exceed $300,000 in the aggregate.
Sample 1Sample 2

Examples of Credit Card Cash Collateral Account in a sentence

  • To the extent the Debtors fail to pay any obligations under the Corporate Credit Cards as and when due, the Bank may exercise remedies against the cash in the Credit Card Cash Collateral Account in respect of such unpaid obligations upon no less than five (5) business days’ priornotice to the Court and the Debtors, including by set-off.

  • As of the Petition Date, the Credit Card Cash Collateral Account has an aggregate cash balance of $7,875.00.

  • Our priorities for this growth can be found in the Infrastructure section of this plan.In the past NDCS has received considerable help with technology from various corporate partners.

  • The Bank has first priority lien on all cash in the Credit Card Cash Collateral Account to secure the Debtors’ obligations in respect of its Corporate Credit Cards.

  • The Debtors have also cash collateralized the Vendor Credit Card Program by depositing $800,000 in cash in the Vendor Credit Card Cash Collateral Account.

  • BMO Harris Bank shall have a firstpriority lien on all cash in the Credit Card Cash Collateral Account to secure the Debtors’ obligations in respect of its corporate credit cards and no other liens, including any liens granted pursuant to the DIP Order, shall attach to such cash or otherwise prime BMO Harris Bank’s rights therein.

  • The Debtors were recently required to cash collateralize the Plastic Credit Card Programs by depositing $50,000 in cash in the Plastic Credit Card Cash Collateral Account.

  • BMO Harris Bank shall have afirst priority lien on all cash in the Credit Card Cash Collateral Account to secure the Debtors’ obligations in respect of its corporate credit cards and no other liens, including any liens granted pursuant to the DIP Order, shall attach to such cash or otherwise prime BMO Harris Bank’s rights therein.


More Definitions of Credit Card Cash Collateral Account

Credit Card Cash Collateral Account means, collectively, each segregated Deposit Account from time to time identified to Agent in writing by the Borrower Representative for the sole purpose of securing the Credit Parties’ obligations under clause (n) of the definition Permitted Debt and containing only such cash or Cash Equivalents that have been required to be pledged to secure such obligations of Credit Parties; provided, that the aggregate amount of cash or Cash Equivalents deposited in all such Credit Card Cash Collateral Account(s) does not, at any time, exceed $3,500,000 in the aggregate.” Acquiom / Rubicon / Limited Waiver and Amendment No. 1 to Credit Agreement
Sample 1
Credit Card Cash Collateral Account means, collectively, each segregated Deposit Account from time to time identified to Agent in writing established by Borrower Representative for the sole purpose of securing Borrower’s obligations under clause (k) of the definition Permitted Debt and containing only such cash or Cash Equivalents that have been required to be pledged to secure such obligations of Borrower; provided, that the aggregate amount of cash or Cash Equivalents deposited in all such Credit Card Cash Collateral Accounts does not exceed an amount equal to 105% of the obligations permitted to be incurred under clause (k) of the definition of “Permitted Debt”.
Sample 1
Credit Card Cash Collateral Account means that certain Deposit Account #3301181565 of Mohawk Parent maintained at Silicon Valley Bank for the sole purpose of securing Borrower’s obligations under clause (h) of the definition Permitted Debt; provided, that the aggregate amount of cash or cash equivalents deposited in such Deposit Account does not, at any time, exceed $250,000.
Sample 1
Credit Card Cash Collateral Account means, collectively, each segregated Deposit Account from time to time identified to Agent in writing established by a Credit Party or its Subsidiary for the sole purpose of securing such Credit Party’s or Subsidiary’s obligations under clause (k) of the definition Permitted Debt and containing only such cash or Cash Equivalents that have been required to be pledged to secure such obligations of such Credit Party or Subsidiary; provided, that the aggregate amount of cash or Cash Equivalents deposited in all such Credit Card Cash Collateral Account(s) does not, at any time, exceed $750,000 in the aggregate.
Sample 1

Related to Credit Card Cash Collateral Account

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Letter of Credit Collateral Account has the meaning assigned to such term in Section 2.05(k).

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • Cash Collateral shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Credit Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Credit Account is modified to read “Grant Account”.

  • Cash Collateral Agreement shall have the meaning provided in Section 5.2(b).