Net Cash Proceeds Account means any Deposit Account or Securities Account established by any Co-Borrower or any Guarantor with one or more financial institutions which has a credit rating with respect to its long term unsecured debt of at least “A” by S&P or “A2” by Moody’s that (i) is subject to a Control Agreement, (ii) is subject to a First Priority security interest in favor of the Collateral Agent for the ratable benefit of the Secured Parties to secure the Secured Obligations and (iii) solely contains proceeds of Pari Passu Priority Collateral (and any products of such proceeds), and which has been designated in writing to the Revolving Credit Agents as a “Net Cash Proceeds Account” on or prior to the time that the Net Cash Proceeds from any sale of Pari Passu Priority Collateral shall be deposited therein, pending application of such proceeds (and any products of such proceeds) in accordance with the terms hereof.
Net Cash Proceeds Account means any Deposit Account or Securities Account that is (i) established by any Grantor, (ii) subject to the control (within the meaning of Section 9104 of the New York UCC) of the Notes Collateral Agent and (iii) free and clear of all other Liens and which account contains only (a) proceeds of the sale of any Notes Collateral, (b) proceeds of Notes Collateral arising from any Recovery Event (as such term is defined in the Indenture), (c) proceeds of foreclosures or other sales of Notes Collateral, (d) proceeds of the issuance of any Notes after the date hereof and (e) any other awards or proceeds pursuant to the Notes Collateral Documents including earnings, revenues, rents, issues, profits and income from the Notes Collateral received pursuant to the Notes Collateral Documents, in each case for which a Net Cash Proceeds Letter of Credit has not been issued.
Net Cash Proceeds Account means the separate custodial account established and maintained by the Company in the name of the Collateral Agent for the benefit of the Secured Creditors pursuant to the terms of the Security Agreement into which the Net Cash Proceeds from Asset Sales and Insurance and Condemnation Proceeds are to be deposited.
Examples of Net Cash Proceeds Account in a sentence
The funds from time to time on deposit in the Net Cash Proceeds Account may be disbursed from such account only for the purposes and in the manner provided for in the Intercreditor Agreement, the Security Agreement, the Bank Credit Facilities and this Indenture.
All Cash or Cash Equivalents received by the Company or its Subsidiaries as Net Cash Proceeds from any Asset Sale or as Insurance and Condemnation Proceeds shall be deposited in the Net Cash Proceeds Account, in which account there shall be, subject to the lien priority provisions set forth in the Intercreditor Agreement, the Security Documents and Section 4.6, a perfected security interest in favor of the Collateral Agent for the benefit of the Secured Creditors.
All Cash received by the Company or its subsidiaries as Net Cash Proceeds from an Asset Sale or as Insurance Proceeds shall be deposited in the Net Cash Proceeds Account, in which account there shall be, subject to the lien subordination provisions set forth in the Intercreditor Agreement, the Collateral Documents and Section 4.6, a perfected security interest in favor of the Collateral Agent for the benefit of the Secured Creditors.
The Borrower shall cause the Depositary to create a Collection Account, a Liquidity Reserve Account, a Maintenance Reserve Account, a Security Deposits Account, an Operating Expenses Account, a Modifications and Improvements Account, a Net Cash Proceeds Account and a Substitution Account, in each case in accordance with the terms of the Depository Agreement.
To the extent such proceeds are not so used to acquire Qualifying Replacement Railcars within 180 days of the date of deposit into the Substitution Account, such amounts shall be transferred to the Net Cash Proceeds Account on the next Settlement Date following the 181st day following their deposit for application as Net Cash Proceeds for the Measuring Period in which such transfer is made.
More Definitions of Net Cash Proceeds Account
Net Cash Proceeds Account means the separate custodial account established and maintained by the Company in the name of the Collateral Agent for the benefit of the Minimum Payment Guarantor, the Holders and the Bank Lenders pursuant to Section 4.4 and the terms of the Security Agreement into which the Net Cash Proceeds from Asset Sales and Insurance Proceeds are to be deposited.
Net Cash Proceeds Account means any segregated Deposit Account or Securities Account established by any Borrower or any other Guarantor with one or more financial institutions reasonably satisfactory to the Collateral Agent (which, in the case of an account established by Canadian Borrower, shall not be a Lender or an Affiliate of a Lender) that (i) is subject to a Control Agreement, (ii) is subject to a First Priority security interest in favor of the Collateral Agent for the ratable benefit of the Secured Parties to secure the Secured Obligations and (iii) solely contains proceeds of Term Loan Priority Collateral (and any products of such proceeds), and which has been designated in writing to the Revolving Credit Agents as a “Net Cash Proceeds Account” on or prior to the time that the Net Cash Proceeds from any sale of Term Loan Priority Collateral shall be deposited therein, pending application of such proceeds (and any products of such proceeds) in accordance with the terms hereof.
Net Cash Proceeds Account means the “Net Cash Proceeds Account” established by the Depositary pursuant to the Depository Agreement.
Net Cash Proceeds Account means any Deposit Account or Securities Account established by any Debtor which contains only proceeds of the sale of any Term Loan Collateral and which has been identified in writing to the Secured Party as such at the time the proceeds from any such sale of Term Loan Collateral shall be deposited in any such account.
Net Cash Proceeds Account means any Deposit Account or Securities Account established by any Co-Borrower or any Guarantor with one or more financial institutions which has a credit rating with respect to its long term unsecured debt of at least “A” by S&P or “A2” by Moody’s that (i) is subject to a Control Agreement, (ii) is subject to a First Priority security interest in favor of the Collateral Agent for the ratable benefit of the Secured Parties to secure the Secured Obligations and (iii) solely contains proceeds of Pari Passu Priority Collateral (and any products of such proceeds), and which has been designated in writing to the Revolving Credit Agents as a “Net Cash Proceeds Account” on or prior to the time that the Net Cash Proceeds from any sale of Pari Passu Priority 967770.02F-CHISR1034077.05-CHISR01A - MSW 53 Collateral shall be deposited therein, pending application of such proceeds (and any products of such proceeds) in accordance with the terms hereof.
Net Cash Proceeds Account shall have the meaning as specified in Section 4.4(a).
Net Cash Proceeds Account as defined in Section 7.8(c). “New Fleet Sublimit”: an amount equal to $1,000,000,000. “New York Fed”: the Federal Reserve Bank of New York. “Non-Consenting Lender”: as defined in Section 11.1(f). “Non-Defaulting Lender”: any Lender other than a Defaulting Lender. “Non-Loan Party”: any Subsidiary of HGH, Holdings or the Borrower that is not a Loan Party. “Non-Loan Party Transaction”: lending, capital contribution or other similar transactions between any Loan Party, on the one hand, and any Non-Loan Party, on the other hand, including European Funding Transactions. “Obligation Currency”: as defined in Section 11.8(a). “Obligations”: with respect to any Indebtedness, any principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Borrower or any Subsidiary whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, Guarantees of such Indebtedness (or of Obligations in respect thereof), other monetary obligations of any nature and all other amounts payable thereunder or in respect thereof. “Obligor”: any purchaser of goods or services or other Person obligated to make payment to the Borrower or any of its Subsidiaries (other than any Subsidiary that is not a Loan Party) in respect of a purchase of such goods or services. “Other Connection Taxes”: with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). “Other Taxes”: all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 4.13(d)). “Other Prepetition Secured Parties”: as defined in the definition of “Commi...