Examples of Permitted CAD Account in a sentence
The parties hereto agree that the Securities Intermediary shall act only on entitlement orders or other instructions with respect to the Permitted CAD Accounts originated by the Collateral Agent and no other Person (and without further consent by any other Person); and the Collateral Agent, for the benefit of the Secured Parties, shall have exclusive control and the sole right of withdrawal over each Permitted CAD Account.
The Securities Intermediary shall keep book entry records of the amounts in each Permitted CAD Account that constitute Interest Proceeds, Principal Proceeds and amounts in respect of any Unfunded Exposure Shortfall.
To the extent not already in U.S. dollars, all amounts in any Euro Account, Permitted CAD Account or GBP Account to be disbursed hereunder will be exchanged for U.S. dollars at the Spot Rate on the Business Day immediately preceding the date of disbursement.
If the Lenders are required to make an Advance to the Company as provided in Section 2.03, then each Lender shall make such Advance on the proposed date thereof by wire transfer of immediately available funds to the Collateral Agent for deposit to the Collection Account (or, in the case of Advances denominated in CAD, the Permitted CAD Account).
All Principal Proceeds shall be retained in the USD Principal Collection Account, the Euro Principal Collection Account, the GBP Principal Collection Account or the designated Permitted CAD Account, as applicable, and invested (and reinvested) at the written direction of the Investment Manager (or, if a Coverage Event has occurred or an Event of Default has occurred and is continuing, the Administrative Agent) in overnight Eligible Investments.
All Interest Proceeds shall be retained in the USD Interest Collection Account, the Euro Interest Collection Account, the GBP Interest Collection Account or the designated Permitted CAD Account, as applicable, and invested (and reinvested) at the written direction of the Investment Manager (or, if a Coverage Event has occurred or an Event of Default has occurred and is continuing, the Administrative Agent) in Eligible Investments.
Amounts may be deposited into an Unfunded Exposure Account or a Permitted CAD Account from time to time using proceeds of Advances under this Agreement and other amounts deposited by the Company (or the Parent on its behalf) (exchanged into the applicable Permitted Non-USD Currency at the Spot Rate, in the case of any amounts deposited into the Euro Unfunded Exposure Account, a Permitted CAD Account or the GBP Unfunded Exposure Account).
The Company hereby appoints the Securities Intermediary to establish, and the Securities Intermediary does hereby establish, each of the Collection Account, the Permitted CAD Account, the Permitted GBP Accounts, the CV Cure Account, the Unfunded Exposure Account and the Securities Account (collectively, the “Collateral Accounts”).