Restricted Cash Collateral Account definition

Restricted Cash Collateral Account means (x) a blocked deposit account at Bank of America (the “Restricted Cash Collateral Deposit Account”) and, at Borrower’s option prior to the occurrence and continuance of a Default or an Event of Default, (y) investment accounts at Bank of America and Banc of America Securities LLC invested in such other Cash Equivalents as directed by the Borrower, which accounts shall be established pursuant to the Restricted Cash Collateral Agreements and in which the Administrative Agent shall have a perfected, first priority security interest, subject only to customary and ordinary Liens in favor of the financial institution acting as the depository bank or as securities intermediary to secure payment of fees, costs of administration and payment of other amounts relating to such account payable by Borrower to such financial institution.

Restricted Cash Collateral Account means the Account established pursuant to the Exchange Agreement in the approximate amount of $10,000,000.

Restricted Cash Collateral Account means, if no Default or Event of Default has occurred and is continuing, at the Borrower's option, (x) a blocked deposit account at Bank of America and (y) investment accounts at Bank of America, another Lender, or an Affiliate of either invested in such other Cash Equivalents as directed by the Borrower (provided that at least fifty percent (50%) of the aggregate amount held in all such investment accounts from time to time must be held in investment accounts at Bank of America or an Affiliate thereof), or if a Default or Event of Default has occurred and is continuing, a blocked non-interest bearing account at Bank of America, into which Net Disposition Proceeds of Permitted Dispositions shall be deposited in accordance with, and to the extent required by, Section 2.05(b), which accounts shall be established pursuant to the Restricted Cash Collateral Agreements and in which the Administrative Agent shall have a perfected, first priority security interest, subject to immaterial administrative costs of the institution holding such collateral.

Examples of Restricted Cash Collateral Account in a sentence

• The Borrower shall, promptly after receipt of any funds previously withdrawn from the Restricted Cash Collateral Account that were used to collateralize any obligation described in the definition of Restricted Cash Collateral Account, deposit such funds in the Restricted Cash Collateral Account.

• The Borrower shall not withdraw funds from (i) the Debt Reserve Collateral Account except for the purposes set forth in the Debt Reserve Collateral Account Agreement, and (ii) the Restricted Cash Collateral Account except for the purposes set forth in the Restricted Cash Collateral Account Agreement.

• Such security interest shall be prior to the security interest in the Restricted Cash Collateral Account granted to the Secured Parties under clause (b) below until such time as the Existing L/Cs have been cancelled and/or cash collateralized.

• On the Closing Date, the Restricted Cash Collateral Account Agreement shall be terminated and all cash then existing in the Restricted Cash Collateral Account shall be disbursed to the Administrative Agent and applied to repay the outstanding principal amount of the Existing Term Loans.

• Commencing with Lender's receipt of Borrower's financial statements for its fiscal quarter ending June 30, 2004, Lender shall on each Effective Release Date thereafter release cash collateral held in the Restricted Cash Collateral Account in an amount equal to the Release Amount, provided that (a) no Default or Event of Default has occurred, and (b) the applicable Release Amount is at least $250,000.

More Definitions of Restricted Cash Collateral Account

Restricted Cash Collateral Account means Account No. 104480 established by the U.S. Borrower with Citibank.

Restricted Cash Collateral Account is that certain restricted or “blocked” segregated collateral money market account of Borrower maintained with Bank, having an account number ending in [***] and as more fully described in the Cash Pledge Agreement, which secures the payment and performance in full of all of the Obligations.

Restricted Cash Collateral Account means Account No. 104480 established by the Borrower with Citibank in which cash and Cash Equivalents may from time to time be on deposit or held therein, and the proceeds of which shall be used from time to time solely to refinance and/or replace or secure with cash collateral certain surety bonds, letters of credit or trust arrangements supporting self-insurance programs, environmental obligations, future business commitments and letters of credit in an amount not exceeding $44,030,000 supporting IRB Obligations, in each case issued by or for the benefit of the Borrower and its Subsidiaries.

Restricted Cash Collateral Account means, if no Default or Event of Default has occurred and is continuing, at the Borrower's option,

Restricted Cash Collateral Account has the meaning specified in the Security Agreement.

Restricted Cash Collateral Account means the Securities Account numbered #########] and held with Xxxxxxxxx LLC.

Restricted Cash Collateral Account means Account No. 104480 established by the Borrower with Citibank, N.A. in which cash and Cash Equivalents may from time to time be on deposit or held therein, and the proceeds of which shall be used from time to time solely to (a) refinance and/or replace or secure with cash collateral certain surety bonds, letters of credit or trust arrangements supporting self-insurance programs, environmental obligations, future business commitments and letters of credit in an amount not exceeding $44,030,000 supporting IRB Obligations, in each case, issued by or for the benefit of the Borrower and its Subsidiaries or (b) make a mandatory prepayment pursuant to Section 2.8(i). Credit Agreement FMC Corporation