Term C Collateral Account definition

Term C Collateral Account means one or more cash collateral accounts or securities accounts established pursuant to, and subject to the terms of, Section 3.9 for the purpose of cash collateralizing the Term L/C Obligations in respect of Term Letters of Credit.
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Term C Collateral Account means one or more cash collateral accounts or securities accounts established for the purpose of cash collateralizing any Obligations in respect of term letters of credit pursuant to the Exit Facilities Credit Agreement.
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Examples of Term C Collateral Account in a sentence

  • The Borrower shall bear the risk of loss of principal with respect to any investment in any Term C Collateral Account.

  • On the Closing Date, the proceeds of the Term C Loans, together with other funds (if any) provided by the Borrower, were deposited into each such Term C Collateral Account such that the Term C Collateral Account Balance of each Term C Collateral Account established for the benefit of each Term L/C Issuer equaled at least the Term Letters of Credit Outstanding of each such Term L/C Issuer.

  • Upon the repayment of the then outstanding Term C Loans on the applicable Maturity Date, the Term L/C Commitment shall be reduced by an amount equal to the portion of such repayment constituting principal as provided in Section 4.03(b) and the Borrower shall be permitted to withdraw an amount up to the amount of such prepayment from the Term C Collateral Account to complete such repayment as, and to the extent, provided in Section 4.03(b).

Related to Term C Collateral Account

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.