Loss Proceeds Account has the meaning set forth in Section 3.3(a).
Loss Proceeds Account has the meaning set forth in Section 2.12(f) hereof.
Loss Proceeds Account has the meaning given in Section 1.1 of the Depositary Agreement.
Examples of Loss Proceeds Account in a sentence
Each Borrower Entity shall, in advance, direct the relevant insurers, reinsurers and Governmental Authorities, as applicable, to pay Loss Proceeds directly to the Collateral Agent as loss payee for deposit to the Loss Proceeds Account (and subject to the use of such proceeds by the Borrower in accordance with this Section 7.04).
If Loss Proceeds are paid to any Borrower Entity, such Loss Proceeds shall be received in trust, for the benefit of the Collateral Agent, shall be segregated from other funds of the Borrower, and shall be forthwith paid over to the Collateral Agent in the same form as received (with any necessary endorsement) for deposit to the Loss Proceeds Account.
More Definitions of Loss Proceeds Account
Loss Proceeds Account means an account maintained by Lender for purposes of depositing any Loss Proceeds.
Loss Proceeds Account means the account designated by that name established by the Company with Depositary pursuant to Section 2.1.
Loss Proceeds Account has the meaning assigned to it in the Collateral Agency Agreement.
Loss Proceeds Account shall have the meaning provided in the Depositary Agreement.
Loss Proceeds Account as defined in Section 2.1(d).
Loss Proceeds Account has the meaning given in Section 6(f) of the Account Control Agreement.
Loss Proceeds Account has the meaning specified in the definition of “Collateral Accounts”.