DIP Proceeds Account definition

DIP Proceeds Account means a deposit account of the Borrower with [Bank of America, N.A.], with an account number ending with the last four digits of [9593]1.
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DIP Proceeds Account means a segregated or other deposit account of the Borrower, including without limitation, the Borrower’s existing concentration account, over which the Collateral Agent (for the benefit of the Secured Parties) has a legal, valid, binding, continuing, enforceable, first priority Lien.
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DIP Proceeds Account shall have the meaning assigned to such term in Section 2.02(d).
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Examples of DIP Proceeds Account in a sentence

  • The DIP Agent, for the ratable benefit of the DIP Secured Parties, shall hereby be granted a valid, enforceable, fully perfected and non-avoidable lien on the DIP Proceeds Account.

  • Disbursements from the DIP Proceeds Account shall be made solely in accordance with this Interim Order and the other DIP Loan Documents.

  • All proceeds of the Notes shall be deposited into a segregated trust account of the Issuer (the “DIP Proceeds Account”) held with the Administrative Agent and any withdrawals from the DIP Proceeds Account shall be used only in accordance with this Section 6.6 as certified in a Withdrawal Certificate to be delivered to the Administrative Agent at least one (1) Business Day prior to each withdrawal.

  • Upon receipt of all requested funds, the Administrative Agent will make such Loans available to the Borrowers by promptly wiring the amounts so received, in like funds, to the DIP Proceeds Account.

  • The Borrower shall cause the DIP Proceeds Account to at all times be subject to a deposit account control agreement, in form and substance reasonably satisfactory to the Administrative Agent naming the Administrative Agent as the secured party thereunder for the benefit of the Secured Parties unless the DIP Proceeds Account is held with the Administrative Agent.

  • The Borrower shall not make more than one (1) withdrawal from the DIP Proceeds Account per calendar week, which, except in the case of the initial withdrawal following the entry of the Interim Order, shall occur only on a Monday (or if such Monday is not a Business Day, the following Business Day).

  • Subsequent to each Credit Event, except as otherwise agreed by the Required Lenders or as disbursed in accordance with the then Approved DIP Budget, hold the proceeds of the Term Loans in the DIP Proceeds Account.

  • All withdrawals from the DIP Proceeds Account shall be used solely for the permitted purposes described under Section 9.13 or to make payments on the Term Loans, including withdrawal of proceeds out of the DIP Proceeds Account in anticipation of upcoming payment obligations due within ten (10) Business Days after such withdrawal to another operating account of a Debtor, as determined by the Borrower in good faith.

  • For the avoidance of doubt, after the Conversion Date, to the extent then existing, the DIP Proceeds Account, the Foreign Reserve Account, and all cash and Cash Equivalents therein shall be ABL Priority Collateral.

  • The Funded Reserve Account will be funded first from the DIP Proceeds Account and then from the DIP Priority Collateral (but excluding, for the avoidance of doubt, any Cash Collateral constituting ABL Priority Collateral).


More Definitions of DIP Proceeds Account

DIP Proceeds Account shall have the meaning set forth in Section 9.18.
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DIP Proceeds Account means a deposit account of the Borrower maintained withat a commercial bank acceptable to the Administrative Agent and the Required Lenders.
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DIP Proceeds Account means a deposit account of the Borrower with Bank of America Xxxxxxx Xxxxx, with an account number ending with the last four digits of 3058.
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DIP Proceeds Account has the meaning set forth in Section 6.6 hereof.
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Related to DIP Proceeds Account

  • 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.

  • 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.

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

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

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

  • 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.]

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

  • 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.

  • Proceeds Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent on or prior to the First Issue Date in respect of a first priority pledge over the Proceeds Account and all funds held on the Proceeds Account from time to time, granted in favour of the Agent and the Bondholders (represented by the Agent).

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

  • 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 Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Funds Account means an account held by you or any third parties maintained with any Participant.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • 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.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06 in the name of the Trustee for the benefit of the Certificateholders and designated "U.S. Bank National Association, in trust for registered holders of CSFB Mortgage Pass-Through Certificates, CSFB ABS Trust Series 2001-HE12" Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).