Designated Collateral Proceeds Account definition

Designated Collateral Proceeds Account has the meaning given to such term in Section 4.2(c)(ii).
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Designated Collateral Proceeds Account and the funds on deposit therein being referred to as the “Designated Collateral Proceeds”).
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Examples of Designated Collateral Proceeds Account in a sentence

  • Notwithstanding the foregoing, with respect to the remaining thirty percent (30%) of Net Cash Proceeds, the Borrower or the Guarantor which receives such Net Cash Proceeds shall either (x) make a principal prepayment of the Revolving Loans with such Net Cash Proceeds or (y) deposit such Net Cash Proceeds into the Designated Collateral Proceeds Account.

  • Each prepayment of the Loans under this Section 4.2(c) shall be applied in accordance with Section 2.10(b)(viii), other than in the event Borrower elects to pay down the Revolving Loans in lieu of making a deposit into the Designated Collateral Proceeds Account in accordance with Section 4.2(c)(ii) above.

  • Notwithstanding anything to the contrary contained herein, (i) there shall be no disbursement of Revolving Loans at any time that Designated Collateral Proceeds are on deposit in the Designated Collateral Proceeds Account, and (ii) the Borrower may elect to apply Designated Collateral Proceeds as a principal prepayment of the Revolving Loans at any time regardless of whether the requirements for disbursements of Revolving Loans have been met.

  • Notwithstanding the foregoing, with respect to the remaining fifty percent (50%) of Net Cash Proceeds, the Borrower or the Guarantor which receives such Net Cash Proceeds shall either (x) make a principal prepayment of the Revolving Loans with such Net Cash Proceeds or (y) deposit such Net Cash Proceeds into the Designated Collateral Proceeds Account.

  • For the avoidance of doubt, any amounts required to be prepaid (or deposited into the First Lien Designated Collateral Proceeds Account) under the First Lien Credit Agreement in connection with a Property Release or Parcel Release shall reduce, on a dollar-for-dollar basis, the amounts required to be prepaid under this Agreement in order to effectuate such Parcel Release or Property Release, as applicable.

  • Notwithstanding the foregoing, subject to the first sentence of Section 2.10(b), above, and Section 2.10(b)(x), below, but with respect to the remaining thirty percent (30%) of Net Cash Proceeds, the Borrower or the Guarantor which receives such Net Cash Proceeds shall either (x) make a principal prepayment of the Loans with such Net Cash Proceeds or (y) deposit such Net Cash Proceeds into the Designated Collateral Proceeds Account.

  • Notwithstanding the foregoing, subject to the first sentence of Section 2.10(b), above, and Section 2.10(b)(x), below, but with respect to the remaining fifty percent (50%) of Net Cash Proceeds, the Borrower or the Guarantor which receives such Net Cash Proceeds shall either (x) make a principal prepayment of the Loans with such Net Cash Proceeds or (y) deposit such Net Cash Proceeds into the Designated Collateral Proceeds Account.

Related to Designated Collateral Proceeds Account

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • Excess Liquidation Proceeds Account The segregated account (or the sub-account of the Distribution Account) created and maintained by the Certificate Administrator on behalf of the Trustee pursuant to Section 3.04(d) for the benefit of the Certificateholders, which shall be entitled “Xxxxx Fargo Bank, National Association [or the name of any successor Certificate Administrator], as Certificate Administrator on behalf of Wilmington Trust, National Association [or name of any successor Trustee], as Trustee, for the benefit of the registered holders of WFRBS Commercial Mortgage Trust 2014-C22, Commercial Mortgage Pass-Through Certificates, Series 2014-C22, Excess Liquidation Proceeds Account”.

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

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Reallocated Collateral Principal Collections means, with respect to any Transfer Date, Collections of Principal Receivables applied in accordance with subsections 4.12(a) and (b) in an amount not to exceed the product of (a) the Collateral Allocation with respect to the Monthly Period relating to such Transfer Date and (b) the Investor Percentage with respect to the Monthly Period relating to such Transfer Date and (c) the amount of Collections of Principal Receivables with respect to the Monthly Period relating to such Transfer Date; provided, however, that such amount shall not exceed the Collateral Interest after giving effect to any Collateral Charge-Offs for such Transfer Date.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Facility LC Collateral Account is defined in Section 2.19.11.

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

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • 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.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible 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.

  • Control Collateral means any Collateral consisting of any Certificated Security (as defined in Section 8-102 of the Uniform Commercial Code), Investment Property, Deposit Account, Instruments and any other Collateral as to which a Lien may be perfected through possession or control by the secured party, or any agent therefor.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • 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.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.