Notes Collateral Account definition

Notes Collateral Account means any deposit account or securities account required to be established pursuant to the First Lien Documents for purposes of holding Notes Priority Collateral pending application as required under the First Lien Documents (it being understood that ABL Priority Collateral deposited in the Notes Collateral Account shall continue to be ABL Priority Collateral).

Notes Collateral Account has the meaning given in Section 5.01 of the Collateral Agency Agreement.

Notes Collateral Account means the account so designated opened and maintained in accordance with the Accounts Agreement, in the name of the Issuer, with the Lead Account Bank;

Examples of Notes Collateral Account in a sentence

• A resolution of a majority of the Company's Board of Directors expressed to be irrevocable directing the application of funds from the Notes Collateral Account under this Section 13.02 to the payment of the principal and any other funds received pursuant to Section 13.02(ii) to the payment of accrued interest and unpaid interest on the Notes shall, for all purposes of this Indenture, be deemed the equivalent of the deposit of money with the Trustee in trust for such purpose.

• Upon compliance with the foregoing provisions this Section 13.02, the Trustee shall apply funds released from the Notes Collateral Account as directed and specified by such resolution up to, but not exceeding, the principal amount of the Notes so paid or purchased and shall apply any other funds received pursuant to Section 13.02 (ii) to pay accrued and unpaid interest.

• Unless an Event of Default occurs and is continuing, or so long as any Notice of Actionable Default remains outstanding and unrescinded, any interest on cash or such Temporary Cash Investments (in excess of any accrued interest paid at the time of purchase) which may be received by the Collateral Agent with respect to the Notes Collateral Account shall be forthwith paid to the Company.

• Such funds from the Notes Collateral Account and any cash deposited with the Trustee, pursuant to clause (ii) of this Section 13.02 for the payment of accrued interest (including Additional Amounts) shall not, after compliance with the foregoing provisions of this Section, be deemed to be part of the Collateral or Trust Monies.

• The Company may use any such funds on deposit, or funds deposited pursuant to subsection (b) above, to purchase Additional Assets as permitted by Section 4.08 (with relevant time periods being calculated based upon the date of deposit in the Notes Collateral Account) or as set forth in Section 13.02.

More Definitions of Notes Collateral Account

Notes Collateral Account means one or more deposit accounts or securities accounts under the control of the Trustee or the Collateral Agent holding only the proceeds of any sale or disposition of any Notes Priority Collateral.

Notes Collateral Account means an account maintained by the Company in the name of the Trustee with any financial institution reasonably designated by the Trustee, after consultation with the Company, into which net cash proceeds in respect of the First-Priority Collateral is required to be deposited pursuant to this Indenture.

Notes Collateral Account means (i) the “Collateral Account” as defined in the Indenture.

Notes Collateral Account has the meaning assigned to such term in the Senior Notes Indenture, as in effect on the date hereof.

Notes Collateral Account means an account maintained by the Company in the name of the Trustee with any financial institution reasonably designated by the

Notes Collateral Account means one or more deposit accounts of Borrower and/or Parent under the control of the Collateral Agent into which certain proceeds of the primary collateral for the Senior Secured Notes shall be deposited in accordance with the terms of the Intercreditor Agreement.

Notes Collateral Account means an account maintained by the Company in the name of the Trustee with any financial institution reasonably designated by the Trustee into which Net Cash Proceeds in respect of the First-Priority Collateral is required to be deposited pursuant to this Indenture or the Security Documents.