Proceeds Collateral Account definition

Proceeds Collateral Account means a Deposit Account in which the Net Proceeds of Term Priority Collateral in respect of any Prepayment Event described in clause (a) or (b) of the definition of the term “Prepayment Event” are deposited by Parent or any Restricted Subsidiary to be held pending release as contemplated by Section 2.09(b) for reinvestment or prepayment, and which has no other funds contained therein (other than interest on any such proceeds) and is subject to a Control Agreement in favor of the Administrative Agent.

Proceeds Collateral Account means a deposit account maintained with the Collateral Agent or such other depository institution that is reasonably acceptable to the Collateral Agent and that is subject to a Control Agreement in favor of the Collateral Agent in which Net Proceeds of an Asset Sale, Casualty or Condemnation are deposited by the Borrower or a Subsidiary, or by the Collateral Agent as loss payee, to be held as cash collateral securing the Obligations pending release as contemplated by Section 2.11(a) or 2.11(b).

Proceeds Collateral Account has the meaning set forth in the Term Credit Agreement.

Examples of Proceeds Collateral Account in a sentence

• The only permitted withdrawal or application of funds on deposit in, or otherwise to the credit of, the Principal Proceeds Collateral Account prior to the payment in full of the Obligations shall be to make payments in accordance with Sections 4.1.1 and 5.1. ARTICLE III REPRESENTATIONS AND WARRANTIES Section 3.1 Representations and Warranties of the Company.

• The timeline is posted here: http://www.buttecounty.net/waterresourceconservation/SustainableGroundwaterManagementAct.

• Notwithstanding anything to the contrary in this Indenture, the Paying Agent shall remit any payments (whether of interest or principal) on the AAC Secured Notes directly into the Principal Proceeds Collateral Account.

• The deposit of proceeds from AAC Secured Notes into the Principal Proceeds Collateral Account and the pledge thereof shall be governed by the AAC Pledge Agreement.

• Facilitating a corporate culture of teamwork and collaborationNPC has demonstrated these principles through various corporate initiatives in 2015 and will deliver further initiatives throughout the business planning period to meet the needs of the organization and the objectives of the strategic plan.

More Definitions of Proceeds Collateral Account

Proceeds Collateral Account means the account of Vonage America subject to an Account Control Agreement maintained with JPMorgan Chase Bank, N.A. bearing account number 2908462811 (or such other financial institution and/or account number as the Controlling Agent may reasonably agree for this purpose) into which, among other things, the proceeds of the First Lien Loans, the Second Lien Loans and the Notes shall be deposited on the Funding Date to the extent required by Section 2.4.

Proceeds Collateral Account has the meaning set forth in the Term Credit Agreement as in effect on the date hereof (or any equivalent account into which solely proceeds of disposition of Term Priority Collateral are held or required to be held).

Proceeds Collateral Account as defined in Section 8.6.2(a).

Proceeds Collateral Account shall have the meaning set forth in the Note Purchase Agreement.

Proceeds Collateral Account the collateral account established pursuant to Section 7.1 of the Amended and Restated Guarantee and Collateral Agreement.

Proceeds Collateral Account shall have the meaning assigned to such term in Section 10.06.

Proceeds Collateral Account one or more segregated accounts that is under the sole control of the Collateral Agent and is free from all other Liens (other than Liens permitted to be incurred under clauses (30) and (31) under the definition of “Permitted Liens” in the Credit Agreement as in effect on the date hereof and Liens securing Bank Obligations, Pari Passu Obligations and Junior Lien Indebtedness).