Required Cash Collateral definition

Required Cash Collateral. Defined in the Fee Letter, which definition is incorporated herein by reference.

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Required Cash Collateral means, as of any date of determination, either (a) cash collateral in the sum of (i) 105% of the maximum undrawn face amount of all letters of credit then outstanding under the Revolving Loan Credit Agreement plus (ii) the lesser of (A) $2,000,000 and (B) the amount determined by Revolving Agent as the exposure of the applicable Revolving Loan Creditors with respect to Cash Management Liabilities and Hedge Liabilities then outstanding under the Revolving Loan Financing Documents or (b) if consented to by Revolving Agent, a stand-by letter of credit in form, and issued by a bank, satisfactory to Revolving Loan Agent in the face amount of the sum set forth in the foregoing clause (a).

Required Cash Collateral is defined in Section 5.7(a).

Examples of Required Cash Collateral in a sentence

On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Cash Collateral Account shall be retained in the Cash Collateral Account (to the extent that the Available Cash Collateral Account Amount is less than the Required Cash Collateral Account Amount) and the balance, if any, shall be deposited into the Finance Charge Account and included in Available Finance Charge Collections for such Transfer Date.
If on any Transfer Date, the Available Cash Collateral Amount is less than the Required Cash Collateral Amount then in effect, Available Finance Charge Collections, to the extent available for such purpose, shall be deposited in the Cash Collateral Account pursuant to Section 4.4(a)(viii) up to an amount equal to the amount by which the Required Cash Collateral Amount exceeds the Available Cash Collateral Amount.
If each Rating Agency delivers to the Indenture Trustee and Owner Trustee a written notice or letter satisfying the Rating Agency condition in connection with such change, then the Required Cash Collateral amount will be theretofore determined in accordance with such changed formula or manner of funding, and an amendment to this Agreement effecting such change may be executed without the consent of any Noteholder and the Equity Certificateholder.
Any Redeem Required Cash Collateral shall be in the form of US dollars and will be held by Index Receipt Agent subject to the terms of the Custody Agreement.
Moreover, Index Receipt Agent is authorized to accept from any Authorized Participant, both prior to and after the settlement date of each order, Deposit Securities in exchange for an off-setting amount of Creation Required Cash Collateral previously received in connection with such order.
The Index Receipt Agent will return the Redeem Required Cash Collateral on the redemption transaction settlement date following receipt of (i) the ETF Shares required to redeem each Creation Unit or (ii) the Redeem Required Cash Collateral.
If Index Receipt Agent has not received from the Authorized Participant the Creation Deposit and Creation Required Cash Collateral (if any) required to settle a creation order, Index Receipt Agent shall have no obligation to settle, and no liability for failing to settle, such creation order.
Any Creation Required Cash Collateral shall be in the form of US dollars and will be held by Index Receipt Agent subject to the terms of the Custody Agreement.
Where any of the Redemption Securities are not US domestic securities, the Index Receipt Agent shall request from the Authorized Participant on the business day after the trade date of the redemption transaction either (i) the Redeem Required Cash Collateral or (ii) the ETF Shares required to redeem each Creation Unit.
If the Index Receipt Agent holds cash received from an Authorized Participant in connection with a creation order in excess of the amount of Creation Required Cash Collateral, Index Receipt Agent is authorized to return such collateral to the Authorized Participant once it exceeds a minimum threshold specified by Index Receipt Agent.

More Definitions of Required Cash Collateral

Required Cash Collateral cash collateral delivered to the Lender by one or more of the Sponsors (which delivery may consist of depositing cash in a Cash Collateral Account maintained by Holdings), as security for the Obligations, and that is maintained in one or more Cash Collateral Accounts in the name of Holdings and subject to the sole control of the Lender.

Required Cash Collateral means, on a Monthly Payment Date, an amount equal to the higher of:

Required Cash Collateral. During the six (6) month period from the Closing Date until May 12, 2007, as the aggregate Purchase Price for all outstanding Transactions exceeds the $200,000,000, the $225,000,000, the $250,000,000 and the $275,000,000 thresholds set forth in clauses (i) through (iv) below (each a “Threshold Amount” and, collectively, the “Threshold Amounts”), the Limited Guarantor shall deposit cash into the Collection Account as additional collateral security for the Obligations in the following amounts (all such amounts shall be cumulative): (i) on the Business Day on which the aggregate Purchase Price for all outstanding Transactions exceeds $200,000,000, the Limited Guarantor shall deposit into the Collection Account cash in an amount equal to $7,500,000, (ii) on the Business Day on which the aggregate Purchase Price for all outstanding Transactions exceeds $225,000,000, the Limited Guarantor shall deposit into the Collection Account cash in an amount equal to $2,500,000 (which amount shall be in addition to the amount required in clause (i) above), (iii) on the Business Day on which the aggregate Purchase Price for all outstanding Transactions exceeds $250,000,000, the Limited Guarantor shall deposit into the Collection Account cash in an amount equal to $2,500,000 (which amount shall be in addition to the amounts required by clauses (i) and (ii) above), and (iv) on the Business Day on which the Purchase Price for all outstanding Transactions exceeds $275,000,000, the Limited Guarantor shall deposit into the Collection Account cash in an amount equal to $2,500,000 (which amount shall be in addition to the amounts required in clauses (i), (ii) and (iii) above); provided, however, provided that no Event of Default has occurred and is continuing and provided the Deal Agent has not applied the Required Cash Collateral to the Obligations after an Event of Default, as the aggregate Purchase Price for all outstanding Transactions is reduced below a Threshold Amount, the Deal Agent shall return to the Limited Guarantor within two (2) Business Days the corresponding amount of Required Cash Collateral that was deposited when such Threshold Amount was exceeded.