Term Loan Collateral Account definition

Term Loan Collateral Account means any deposit account established after the date hereof by any Grantor and the Term Loan Agent to hold Proceeds of Term Loan Priority Collateral.

Term Loan Collateral Account means any of the “Term Collateral Accounts” as defined in the Intercreditor Agreement.

Term Loan Collateral Account has the meaning ascribed thereto in the ABL Intercreditor Agreement.

Examples of Term Loan Collateral Account in a sentence

• Each of the Loan Parties will not (and will not apply to the Bankruptcy Court or the Canadian Court for authority to), and will cause their Subsidiaries not to, invest amounts on deposit in the U.S. Term Loan Collateral Account or the U.S. Investment Account in any investment product other than Permitted Investments described in clauses (i) through (vi) of the definition thereof.

• 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.

• Each Loan Party shall cause all Proceeds of the Term Loan Priority Collateral to be deposited in a Term Loan Collateral Account and not commingle them with Proceeds of the ABL Priority Collateral.

• Prior to the Second Amendment Effective Date the Collateral and Documentation Agent shall establish a cash collateral account (the "Additional Term Loan Collateral Account") over which the Collateral and Documentation Agent shall have sole dominion and control and from which the Borrower shall have no right of withdrawal.

• The Administrative Agent may invest funds in the Term Loan Collateral Account in interest-bearing deposit accounts of the Administrative Agent (and such account shall pay interest as paid on other similar accounts held by the Administrative Agent) or in Cash Equivalents.

More Definitions of Term Loan Collateral Account

Term Loan Collateral Account means the investment account which is a restricted account maintained by Operating with Term Loan Agent, an affiliate of Term Loan Agent or at a financial institution otherwise designated by Term Loan Agent into which Parent or Operating shall have deposited (a) proceeds of the Term Loan Credit Facility in an amount not less than the amount necessary to prepay or redeem any 9 3/4% Notes that shall remain outstanding immediately following the Term Loan Funding Date and (b) such other amounts to be utilized for such purposes as expressly permitted under the Term Loan Intercreditor Agreement; and which investment account is established and used solely for the purpose of holding such proceeds and such other amounts and at all times shall be subject to the perfected security interest of Term Loan Agent.

Term Loan Collateral Account means the deposit account or other account maintained by the Administrative Agent (and subject to the first priority security interest of the Administrative Agent for the benefit of the Lenders) pursuant to Section ‎2.03(f) into which Net Cash Proceeds from sales of Term Priority Collateral and other amounts held by the Administrative Agent pursuant to this Agreement shall be deposited pending final application of such proceeds in accordance with the terms of this Agreement. The Term Loan Collateral Account shall be under the sole dominion and control of the Administrative Agent.

Term Loan Collateral Account means the investment account which is a restricted account maintained by Operating with Term Loan Agent, an affiliate of Term Loan Agent or at a financial institution otherwise designated by Term Loan Agent into which Parent or Operating shall have deposited (i) proceeds of the Term Loan Credit Facility in an amount not less than the amount necessary to prepay or redeem any 9 3/4% Notes that shall remain

Term Loan Collateral Account means one or more deposit accounts or securities accounts (a) established with a bank designated by the Administrative Agent to hold Net Cash Proceeds received in respect of any mandatory repayments under Section 2.13, any investments thereof in Permitted Investments and the proceeds of the foregoing, pending the application of such Net Cash Proceeds, Permitted Investments or other proceeds in accordance with Section 2.13; and (b) which is subject to a fully perfected first-priority Lien in favor of the Collateral Agent, for the ratable benefit of the Secured Parties.

Term Loan Collateral Account means the securities account described in Exhibit A to the Security Agreement executed by the Borrower on the Closing Date and that is included in the “Collateral” as defined in such Security Agreement, and any substitute account in which the Administrative Agent for the benefit of the Lenders has a first priority Lien securing the Obligations.

Term Loan Collateral Account means the investment account which is a restricted account maintained by Operating with Term Loan Agent, an affiliate of Term Loan Agent or at a financial institution otherwise designated by Term Loan Agent into which Parent or Operating shall have deposited (i) proceeds of the Term Loan Credit Facility in an amount not less than the amount necessary to prepay or redeem any 9 3/4% Notes that shall remain outstanding immediately following the Term Loan Closing Date and (ii) such other amounts to be utilized for such purposes as expressly permitted under this Agreement; and which investment account is established and used solely for the purpose of holding such proceeds and such other amounts and at all times shall be subject to the first priority perfected security interest of Term Loan Agent.

Term Loan Collateral Account has the meaning specified in Section 6.01(n)(C).