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.
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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 XxXxxx-Xxxx Companies, Inc., Fitch, Inc., or Xxxxx’x Investors Service and such other rating agencies as are nationally recognized.
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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.

  • 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).

  • 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.

  • 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.

  • 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).

  • 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).

  • The Private Owner shall deliver (or cause to be delivered) the Additional Security in the amount of $2,500,000, as Qualifying Cash Collateral.


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.
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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. ​
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Related to Qualifying Cash Collateral

  • Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

  • Cash Collateral shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

  • Cash Collateralize has the meaning specified in Section 2.03(g).

  • LC Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Cash Collateral Order means an order entered by the Bankruptcy Court authorizing the Company to use cash collateral on a final (as opposed to interim) basis pursuant to sections 361 and 363 of the Bankruptcy Code, which order shall be acceptable to the Investor and shall contain a cash budget that is similar in all material respects to the budget attached hereto as Exhibit A.

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

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Defaulting Lender Fronting Exposure means, at any time there is a Defaulting Lender, (a) with respect to the Issuing Bank, such Defaulting Lender’s Applicable Percentage of the outstanding Letter of Credit obligations other than Letter of Credit obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Applicable Percentage of Swingline Loans other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.