Special Collateral Account definition

Special Collateral Account means that certain interest bearing restricted account maintained by the Collateral Agent for the purpose of receiving and holding Senior Preferential Payments.

Special Collateral Account has the meaning set forth in the Intercreditor Agreement.

Special Collateral Account means that certain restricted account maintained by and under the sole dominion and control of the Designated Lender for the purpose of receiving and holding Post-Default Payments.

Examples of Special Collateral Account in a sentence

• ICG hereby warrants to Xxxxxxx Xxxxx that this notice is lawful and authorized by the Security Agreement (Special Collateral Account) among ICG, ICG Holdings, ICLP and the Administrative Agent.

• The Borrower hereby grants the Lender a security interest in the Special Collateral Account and in all amounts now or hereafter in the Special Collateral Account to secure payment of all obligations now or hereafter owing by the Borrower to the Lender.

• Following the occurrence of an Event of Default, amounts in the Special Collateral Account may be applied by the Lender at any time or from time to time to the obligations now or hereafter owing by the Borrower to the Lender in such order of application as the Lender shall determine in its sole discretion.

• Special hazards arising from the substance or mixture!Further informationThe mixture is classified as hazardous according to regulation (EC) No 1272/2008 [CLP].

• All amounts deposited into the Special Collateral Account shall be held and invested in accordance with subsection (b) of this Section 3.3 or shall be distributed in accordance with subsection (c) of this Section 3.

More Definitions of Special Collateral Account

Special Collateral Account has the meaning specified in Section 6.24(i) of the Loan Agreement. “‘Third Amendment to Loan Agreement and to Other Loan Documents’ means that certain Third Amendment to Loan Agreement and to other Loan Documents dated as of January 10, 2003, between the Borrower and the Lender.”

Special Collateral Account and “Special Event of Default” contained in Section 1 of the Intercreditor Agreement and (ii) the provisions of Sections 3.4 and 6.4 of the Intercreditor Agreement may not be modified or amended without the Grantors’ prior written consent. Any changes to such definitions or Sections without the Grantors’ prior written consent shall not be effective against the Grantors, and this Security Agreement shall be interpreted as if such amendments, modifications or other changes had not been made.

Special Collateral Account means the deposit account with Administrative Agent in the name of the Borrower with the account number *. * Confidential terms omitted and provided separately to the Securities and Exchange Commission.

Special Collateral Account shall have the meaning assigned to that term in Section 4.01(f).

Special Collateral Account means an account established by the Borrower with the Administrative Agent and over which the Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, except that (unless an Event of Default has occurred and is continuing) the Borrower shall have the exclusive right to direct the Administrative Agent as to the investment of such deposits in the Special Collateral Account in Permitted Investments provided, however, that the Administrative Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Administrative Agent to be, or would result, in 7 7 any violation of any law, statute, rule or regulation. The Borrower shall indemnify the Administrative Agent for any losses relating to the investments so that the amount available in the Special Collateral Account is not at any time less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest earned on such investments, the Special Collateral Account shall not bear interest. Interest or profits, if any, on such investments shall be deposited in the Special Collateral Account and reinvested as specified above. If the maturity of the Loans has been accelerated pursuant to the terms of the Credit Agreement, the Administrative Agent may, in its sole discretion, apply all amounts on deposit in the Special Collateral Account to satisfy any of the Borrower's obligations under the Credit Agreement. The parties hereto acknowledge and agree that the Special Collateral Proceeds constitute Proceeds (as defined in the Security Agreement) and that the Collateral Agent, for the benefit of the Lenders, has a perfected security interest therein.

Special Collateral Account shall have the meaning set forth in Section 7.02(b).

Special Collateral Account has the meaning specified in Section 6.24(i) of this Loan Agreement.