Term Loan Collateral definition
Examples of Term Loan Collateral in a sentence
Each such Grantor has delivered all Certificated Securities constituting Collateral held by such Grantor on the Closing Date to the Collateral Agent (or, if permitted under the Intercreditor Agreement and required under the Term Loan Agreement, the Term Loan Collateral Agent) together with duly executed undated blank stock powers, or other equivalent instruments of transfer acceptable to the Collateral Agent.
Prior to entering into any Term Loan Collateral Account (as defined in the Intercreditor Agreement), Borrowers shall provide at least ten (10) Business Days’ prior written notice thereof and shall deliver a form of Control Agreement whereby the Administrative Agent has a second-priority security interest in such deposit account and the cash held therein.