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.

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

Letter of Credit Collateral Account is defined in Section 2A.9.

Examples of Letter of Credit Collateral Account in a sentence

Anything in this Agreement to the contrary notwithstanding, funds held in the Letter of Credit Collateral Account shall be subject to withdrawal only as provided in this Section.
When all of the Obligations shall have been indefeasibly paid in full and no Letters of Credit remain outstanding, the Administrative Agent shall deliver to the Borrower, against receipt but without any recourse, warranty or representation whatsoever, the balances remaining in the Letter of Credit Collateral Account.
Interest shall accrue on the Letter of Credit Collateral Account at a rate equal to the rate on overnight funds.
The balances from time to time in the Letter of Credit Collateral Account shall not constitute payment of any Letter of Credit Liabilities until applied by the applicable Issuing Bank as provided herein.
All such investments and reinvestments shall be held in the name of and be under the sole dominion and control of the Administrative Agent for the ratable benefit of the Administrative Agent, the Issuing Banks and the Lenders; provided, that all earnings on such investments will be credited to and retained in the Letter of Credit Collateral Account.

More Definitions of Letter of Credit Collateral Account

Letter of Credit Collateral Account has the meaning provided in Section 6.4.

Letter of Credit Collateral Account is defined in Section 3.9.

Letter of Credit Collateral Account shall have the meaning set forth in Section 3.10(b) hereof.

Letter of Credit Collateral Account means a deposit account to be maintained at Wells Fargo in the name of the Administrative Agent, for the benefit of the Lenders, which account shall be held as collateral for any and all Obligations incurred by Borrower or its Subsidiaries in connection with any Letter of Credit outstanding subsequent to the Maturity Date.

Letter of Credit Collateral Account means a deposit account to be maintained at Xxxxx Fargo in the name of the Administrative Agent, for the benefit of the Lenders, which account shall be held as collateral for any and all Obligations incurred by Borrower or its Subsidiaries in connection with any Letter of Credit outstanding subsequent to the Maturity Date.

Letter of Credit Collateral Account is defined in Section 8.4(a).

Letter of Credit Collateral Account has the meaning specified in Section 6.02(a).