DIP Term Loan Proceeds Account definition

DIP Term Loan Proceeds Account means a segregated deposit account established by the Borrower and subject to the springing dominion and control of the Administrative Agent pursuant to the Blocked Account Agreement into which all proceeds of the New Money Delayed Draw Term Loans shall be deposited.
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DIP Term Loan Proceeds Account means a segregated account to be established by the Borrower into which the proceeds of the New Money Loans are to be deposited.
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DIP Term Loan Proceeds Account means the deposit account of the Borrower, which shall not be a Controlled Account, to be established with JPMorgan Chase Bank, N.A. or another bank reasonably acceptable to the Administrative Agent in accordance with the DIP Term Loan Agreement; all amounts held therein being acknowledged as constituting DIP Term Loan Priority Collateral.
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Examples of DIP Term Loan Proceeds Account in a sentence

  • Unless an Event of Default (other than to fund the Carve Out Reserve, as defined in the Orders) has occurred and is continuing, the Borrower may withdraw funds from the DIP Term Loan Proceeds Account; provided that the Borrower shall apply such funds (or cause such funds to be applied) in accordance with the then current Approved Budget (subject only to Permitted Variances).

  • Such Notice of Borrowing shall specify (i) the aggregate principal amount of the Loans to be made, (ii) the proposed date of the Borrowing (which shall be a Business Day) and (iii) that the proceeds of the Loans shall be disbursed directly into the DIP Term Loan Proceeds Account.

  • The Borrower shall have established the DIP Term Loan Proceeds Account.

  • In such event, the Borrower and each other Credit Party agrees that it will not otherwise direct the proceeds of the DIP Term Loan Proceeds Account.

  • Any amount held or received in the Administrative Agent Account (including all interest and other earnings with respect thereto, if any) at any time that all Events of Default have been cured and no Acceleration Period exists, shall be remitted to the DIP Term Loan Proceeds Account.

  • The New Money Delayed Draw Term Loans shall be made available to the Borrower by depositing the proceeds thereof into the DIP Term Loan Proceeds Account.

  • It is awkward to want to take and derive these from mathematics, where they are employed in a nonconceptual, often meaningless way; rather, they must await their justification and significance from philosophy.

  • All withdrawals from the DIP Term Loan Proceeds Account shall be used solely for the permitted purposes described under the section entitled “Purpose” below.

  • The Borrower will not amend or modify any Junior Indebtedness or any documentation governing the Pre-Petition Notes or its organizational documents, except to the extent that any such amendment or modification is not adverse to the interests of the Lenders.SECTION 6.24 DIP Term Loan Proceeds Account.

  • The Borrower may withdraw funds from the DIP Term Loan Proceeds Account so long as such funds are applied in accordance with the Budget (subject to Budget Variances).

Related to DIP Term Loan 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.

  • 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).

  • 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.

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

  • Facility Account means the account of Seller at Bank One, Account ---------------- No. 10-36987.

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