LC Collateral definition

LC Collateral has the meaning given to such term in Section 2.11(a).

LC Collateral means cash or deposit account balances pledged and deposited with or delivered to the Administrative Agent, for the benefit of the LC Issuer and the Lenders, as collateral for the LC Obligations.

LC Collateral means any amounts, plus interest accrued thereon, held by the Administrative Agent as security for the LC Obligation.

Examples of LC Collateral in a sentence

• Interest or profits, if any, on such investments shall accumulate in the LC Collateral Account.

• The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account and the Borrower hereby grants the Administrative Agent a security interest in the LC Collateral Account.

• The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over the LC Collateral Account and the Borrowers hereby grant the Administrative Agent a security interest in the LC Collateral Account and all money or other assets on deposit therein or credited thereto.

• The Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of Bank One having a maturity not exceeding 30 days.

• The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over the LC Collateral Account and the Borrower hereby grants the Administrative Agent a security interest in the LC Collateral Account and all moneys or other assets on deposit therein or credited thereto.

More Definitions of LC Collateral

LC Collateral means any amounts held by Issuing Bank, as security for LC Obligations of Borrower.

LC Collateral has the meaning specified in Section 3.9.

LC Collateral has the meaning given it in Section 2.16.

LC Collateral means cash or deposit account balances pledged and deposited with or delivered to the Administrative Agent, for the benefit of the LC Issuer and the Lenders, as Collateral for the LC Obligations.

LC Collateral has the meaning ascribed to such term in Section 3.6(a) of Addendum 2 hereof.

LC Collateral has the meaning set forth in Section 2(e)(i).

LC Collateral means all amounts held by the DIP Lender as collateral