XX Xxxx Collateral definition

XX Xxxx Collateral has the meaning assigned to such term in Section 3.7(c).

XX Xxxx Collateral means any and all deposits made by the Borrowers or LC Subsidiaries pursuant to Section 2.05(i) and interest and other amounts derived from the investment of such deposited amounts and included in such deposits.

XX Xxxx Collateral has the meaning set forth in Section 5.7(b).

Examples of XX Xxxx Collateral in a sentence

• The Administrative Agent shall exercise reasonable care in the custody and preservation of any funds held in the XX Xxxx Collateral Account and shall be deemed to have exercised such care if such funds are accorded treatment substantially equivalent to that which the Administrative Agent accords its own property, it being understood that the Administrative Agent shall not have any responsibility for taking any necessary steps to preserve rights against any parties with respect to any such funds.

• After (i) no Event of Default shall be continuing or (ii) all such Letters of Credit shall have expired or been fully drawn upon and all other obligations of the Borrower hereunder and under the Notes shall have been paid in full, the balance, if any, in such XX Xxxx Collateral Account shall be returned to the Borrower.

• After all such Letters of Credit shall have expired or been fully drawn upon and all other obligations of the Borrower hereunder and under the Notes shall have been paid in full, the balance, if any, in such XX Xxxx Collateral Account shall be returned to the Borrower.

• The Borrower hereby pledges to the Administrative Agent and grants the Administrative Agent a security interest in the XX Xxxx Collateral Account, whenever established, all funds held in the XX Xxxx Collateral Account from time to time, and all proceeds thereof as security for the payment of the Obligations.

• Any funds on deposit in the XX Xxxx Collateral Account after all Letters of Credit have expired, all draws on the Letters of Credit have been reimbursed, all Participation Advances have been repaid, all fees due with respect to the Letters of Credit have been paid in full, and the Facility has been terminated, shall be remitted to the Seller.

More Definitions of XX Xxxx Collateral

XX Xxxx Collateral mean an amount initially equal to One Million Six Hundred Seventy-Four Thousand Two Hundred Dollars ($1,674,200), representing 110% of the undrawn face amount of the Letters of Credit issued under the Loan Agreement as of the First Amendment Effective Time for the benefit of the Borrowers, less any amounts applied therefrom to reimburse the Administrative Agent and Collateral Agent in connection with draws on such Letters of Credit.

XX Xxxx Collateral means Cash of the Restricted Parties pledged as collateral to secure any of the Restricted Parties’ reimbursement obligations under any Third Party Letter of Credit issued by a Third Party LC Issuer, to the extent permitted by Section 6.01(g)(ii).

XX Xxxx Collateral means any Collateral in the form of one or more Deposit Accounts or Securities Accounts, and all Financial Assets or other funds held in or credited to any such Deposit Account or Securities Account, all Security Entitlements in respect thereof and all Proceeds of any of the foregoing, in each case in which a security interest has been granted by the Company or any other Grantor to secure Credit Agreement Obligations consisting of obligations in respect of Letters of Credit pursuant to the Credit Agreement. For purposes hereof, the terms “Deposit Accounts”, “Securities Accounts”, “Financial Assets”, “Security Entitlements” and “Proceeds” have the meaning assigned thereto in the New York UCC.

XX Xxxx Collateral has the meaning provided in Section 2.6(b)(v). ------------------

XX Xxxx Collateral has the meaning specified therefor in Section (a) of the Agreement.

XX Xxxx Collateral means (a) any account utilized by the Borrower to Cash Collateralize (as defined in the Credit Agreement) its reimbursement obligations in respect of Letters of Credit (as defined in the Credit Agreement), and (b) all other Collateral consisting of cash and cash equivalents pledged to secure Credit Agreement Obligations consisting of reimbursement obligations of the Borrower or any Subsidiary in respect of Letters of Credit; provided that the aggregate amount of such XX Xxxx Collateral does not exceed 110% of the aggregate face amount of all such Letters of Credit outstanding from time to time.

XX Xxxx Collateral means all Financial Assets held in or credited to the XX Xxxx Collateral Account, all Security Entitlements in respect thereof and all funds on deposit in or credited to the XX Xxxx Collateral Account, and all Proceeds of any of the foregoing. For purposes hereof, the terms “Financial Assets”, “Security Entitlements” and “Proceeds” have the meaning assigned thereto in the Uniform Commercial Code.