Pledged Proceeds Account definition

Pledged Proceeds Account means a subaccount of the Pledged Account in which the Administrative Agent, for the benefit of the Secured Parties, has been granted a perfected security interest (including in the funds deposited therein) pursuant to the Pledge Agreement and with respect to which a Deposit Account Control Agreement (as defined in the Pledge Agreement) has been executed and delivered by all applicable parties. For the avoidance of doubt, amounts deposited in the Pledged Proceeds Account shall (i) increase, on a dollar-for-dollar basis, the Acquisition Allotment as of the date deposited therein and (ii) be held therein until (x) invested in one or more Permitted Investments in accordance with Section 2(f)(vi) of this Amendment or (y) applied to Senior Debt Prepayments. Any breach by any Loan Party of subsections (c), (d), (e) or (f) of this Section 2 shall be an immediate Event of Default under the Existing Credit Agreement as amended by this Amendment.
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Pledged Proceeds Account has the meaning provided in the Third Amendment.
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Pledged Proceeds Account has the meaning provided in the Fifth Amendment.
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Examples of Pledged Proceeds Account in a sentence

  • Notwithstanding the definition of “Unrestricted Cash and Cash Equivalents” in the Existing Credit Agreement, amounts on deposit in the Pledged Proceeds Account shall be deemed to qualify as Unrestricted Cash and Cash Equivalents during the Limited Waiver Period.

  • So long as no Event of Default has occurred and is continuing, all Net Cash Proceeds from any Permitted Debt Transaction (as defined below), but excluding amounts thereof invested in Category 3 Permitted Investments or deposited into the Pledged Proceeds Account, in either case in accordance with Section 2(f)(vi)(5) of this Amendment, shall, not later than five (5) Business Days following the applicable Loan Party’s receipt of such Net Cash Proceeds, be applied to Senior Debt Prepayments.


More Definitions of Pledged Proceeds Account

Pledged Proceeds Account has the meaning provided in the Sixth Amendment. Equity” means 100% of the direct Equity Interests in each owner and lessee of an Unencumbered Asset.
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Related to Pledged Proceeds Account

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding only the proceeds of any sale or disposition of any Notes Collateral.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Excess Liquidation Proceeds Account The segregated account (or the sub-account of the Distribution Account) created and maintained by the Certificate Administrator on behalf of the Trustee pursuant to Section 3.04(d) for the benefit of the Certificateholders, which shall be entitled “Xxxxx Fargo Bank, National Association [or the name of any successor Certificate Administrator], as Certificate Administrator on behalf of Wilmington Trust, National Association [or name of any successor Trustee], as Trustee, for the benefit of the registered holders of WFRBS Commercial Mortgage Trust 2014-C22, Commercial Mortgage Pass-Through Certificates, Series 2014-C22, Excess Liquidation Proceeds Account”.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Proceeds Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent on or prior to the First Issue Date in respect of a first priority pledge over the Proceeds Account and all funds held on the Proceeds Account from time to time, granted in favour of the Agent and the Bondholders (represented by the Agent).

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Escrowed Proceeds means the proceeds from the offering of any debt securities or other Indebtedness paid into an escrow account with an independent escrow agent on the date of the applicable offering or Incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such escrow account upon satisfaction of certain conditions or the occurrence of certain events. The term “Escrowed Proceeds” shall include any interest earned on the amounts held in escrow.

  • Pledged Funds means all of the Series Pledged Funds.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Pledged Account has the meaning set forth in the Deposit and Security Agreement.

  • Project Accounts means the Revenue Account, the Operating Account, the Maintenance Capital Expense Account, the Debt Service Reserve Account, the Insurance and Condemnation Proceeds Accounts and the Extraordinary Proceeds Account, including any sub-account within such accounts.

  • Pledged Property means all Pledged Notes, Pledged Interests, Pledged Shares, all assignments of any amounts due or to become due with respect to the Pledged Interests or the Pledged Shares, all other instruments which are now being delivered by any Grantor to the Administrative Agent or may from time to time hereafter be delivered by any Grantor to the Administrative Agent for the purpose of pledging under this Security Agreement or any other Credit Document, and all proceeds of any of the foregoing.

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • Pledged Revenues means all of the Series Pledged Revenues.