Qualifying Cash Collateral definition

Qualifying Cash Collateral shall have the meaning given in Section 3.13. “Qualifying Letter of Credit” shall mean an irrevocable standby letter of credit, substantially in the form of Exhibit D hereto (or in such other form as may be acceptable to, and approved in writing by, the Initial Member), duly issued by an Issuing Bank that is, as of the date of issuance thereof, a Qualified Issuer and delivered to the Initial Member, drawable at such Issuing Bank’s offices in New York City, NY or Washington, D.C., and having an initial term of one year with automatic renewals thereafter (without amendment except for extension of the then current expiry date by an additional year) until the Initial Member has delivered written notice to the Issuing Bank to the effect that such Qualifying Letter of Credit is being released in its entirety.

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Qualifying Cash Collateral means cash and any interest earned thereon (and Permitted Investments with respect thereto) in the Private Owner Pledged Account.

Qualifying Cash Collateral has the meaning given in the LLC Operating Agreement. “Qualifying Letter of Credit” has the meaning given in the LLC Operating Agreement. “Rating Agencies” means each of Standard and Poor’s Ratings Service, a division of The ▇▇▇▇▇▇-▇▇▇▇ Companies, Inc., Fitch, Inc., or ▇▇▇▇▇’▇ Investors Service and such other rating agencies as are nationally recognized.

Examples of Qualifying Cash Collateral in a sentence

Subject to the requirements of the LLC Operating Agreement as they relate to the Company, this Agreement may be amended from time to time by written agreement signed by the Company, the Purchase Money Notes Guarantor, the Collateral Agent and the Custodian and Paying Agent or, if such written agreement relates to the Private Owner Pledged Account or the Qualifying Cash Collateral on deposit in such Account, the Initial Member, the Private Owner and the Paying Agent.
The Private Owner shall deliver (or cause to be delivered) (i) the Additional Security to the Initial Member, if in the form of a Qualifying Letter of Credit, or (ii) the Additional Security to the Paying Agent (for deposit into the Private Owner Pledged Account), if in the form of Qualifying Cash Collateral, in an aggregate amount greater than or equal to $7,500,000.
Contemporaneously with the execution of this Agreement and the LLC Operating Agreement, the Private Owner must (i) pursuant to the applicable provisions in the LLC Operating Agreement and the Custodial and Paying Agency Agreement, establish the Private Owner Pledged Account and (ii) deliver (or cause to be delivered) to the Paying Agent the Additional Security (which, if in the form of Qualifying Cash Collateral, must be remitted for deposit into the Private Owner Pledged Account).
Subject to the requirements of the LLC Operating Agreement as they relate to the Company, this Agreement may be amended from time to time by written agreement signed by the Company, the Advance Lender, the Purchase Money Notes Guarantor, the NGPMN Agent, the Collateral Agent and the Custodian and Paying Agent or, if such written agreement relates to the Private Owner Pledged Account or the Qualifying Cash Collateral on deposit in such Account, the Initial Member, the Private Owner and the Paying Agent.
On the Closing Date, the Manager shall cause the Company to establish the Special Reserve Account with the Paying Agent for the exclusive purpose of holding Qualifying Cash Collateral (including in the form of any proceeds from a drawing on a Qualifying Letter of Credit at any time deposited in the Special Reserve Account in accordance herewith).
The Private Owner shall deliver (or cause to be delivered) the Additional Security in the amount of $2,500,000, as Qualifying Cash Collateral.
Funds on deposit in the Special Reserve Account shall be invested in Permitted Investments in accordance with this Agreement and the Custodial and Paying Agency Agreement; provided, that all such Permitted Investments shall remain in the Special Reserve Account as Qualifying Cash Collateral, and in no event shall the Private Owner have any right or authority to withdraw any funds from such Special Reserve Account.
The Lenders hereby consent, in the event the Bankruptcy Proceeding is commenced, to the entry of a Qualifying Cash Collateral Order and a Qualifying DIP Order, subject to a "Carve-Out" to be specified therein, in each case reasonably acceptable to the Administrative Agent.
Contemporaneously with the execution of this Agreement and the LLC Operating Agreement, the Private Owner shall (i) pursuant to the applicable provisions in the LLC Operating Agreement and the Custodial and Paying Agency Agreement, establish the Private Owner Pledged Account and (ii) deliver or cause to be delivered) to the Paying Agent the Additional Security (which, if in the form of Qualifying Cash Collateral, shall be remitted for deposit into the Private Owner Pledged Account).

More Definitions of Qualifying Cash Collateral

Qualifying Cash Collateral shall have the meaning given in Section 3.13(d). “Qualified Transferee” shall have the meaning given in Section 10.1.

Qualifying Cash Collateral means cash (in dollars) in a minimum amount and subject to terms and conditions separately agreed to by the Administrative Agent on the Twelfth Amendment Effective Date deposited in a deposit account maintained by the Administrative Agent and with respect to which the Administrative Agent has a first-priority security interest perfected by means of “control” under the UCC.