XX Xxxx Collateral Account definition

XX Xxxx Collateral Account means a special interest bearing cash collateral account pledged by the Borrower to the Administrative Agent for the ratable benefit of the Secured Parties containing cash deposited pursuant to Section 2.14(e), 2.17, 2.18, 7.02 or 7.03 to be maintained at the Administrative Agent’s office in accordance with Section 2.14(g) and bear interest or be invested in the Administrative Agent’s reasonable discretion.

XX Xxxx Collateral Account means an interest bearing cash collateral account established upon the occurrence of an Event of Default by the Senior Facility Agent in its name for the benefit of the Senior Lenders, subject to the terms of this Agreement.

XX Xxxx Collateral Account has the meaning assigned to such term in Section 2.22.

Examples of XX Xxxx Collateral Account in a sentence

• In addition, Agent shall have the right at any time to exchange such Cash Equivalents for similar Cash Equivalents of smaller or larger determinations, or for other Cash Equivalents, credited to the XX Xxxx Collateral Account.

• Interest and proceeds that are not invested or reinvested in Cash Equivalents as provided above shall be deposited and held in the XX Xxxx Collateral Account.

• Upon the drawing of any Letter of Credit for which funds are on deposit in the XX Xxxx Collateral Account, such funds shall be applied to reimburse the applicable Issuing Lender or Lenders, as applicable.

• So long as no Event of Default shall have occurred and be continuing or would result therefrom and except with respect to the amounts required to be deposited in the XX Xxxx Collateral Account pursuant to §4.16(a) above, if any, Agent will pay and release to Borrower or at Borrower’s order or, at the request of Borrower, to Agent to be applied to the Obligations under the Loan Documents such amount, if any, as is then on deposit in the XX Xxxx Collateral Account.

• Any funds on deposit in the XX Xxxx Collateral Account after all Letters of Credit have expired or have been terminated in accordance with their respective terms, all draws on the Letters of Credit have been reimbursed, all LC Advances have been repaid, all fees due and payable with respect to the Letters of Credit have been paid in full, and the Aggregate Commitment has been terminated, shall be remitted to the Borrower.

More Definitions of XX Xxxx Collateral Account

XX Xxxx Collateral Account means an account designated “Kosmos - XX Xxxx Collateral Account” which is established and maintained by the Original Borrower pursuant to clause 20 (Bank Accounts and Cash Management) of this Agreement, with the relevant LC Issuing Bank or Lender (as applicable, in accordance with the terms of clause 7.1(B)(viii)(a)), which is secured in favour of the relevant LC Issuing Bank or Lender, as applicable.

XX Xxxx Collateral Account has the meaning set forth in the Security Agreement.

XX Xxxx Collateral Account. An account of the Borrowers to be maintained with Agent, in the name of one or more Borrowers but under the sole control and dominion of Agent and subject to the terms of this Agreement.

XX Xxxx Collateral Account has the meaning set forth in Section 2.17(d)(2).

XX Xxxx Collateral Account means the account designated as the XX Xxxx Collateral Account to be established and maintained at JPMorgan Chase Bank, N.A., which account shall be in the name of the Administrative Agent, for the benefit of the Purchase Groups, in respect of the Facility.

XX Xxxx Collateral Account means each Deposit Account from time to time identified to Agent in writing established by Borrower for the sole purpose of securing Borrower’s obligations under clause (g) of the definition Permitted Contingent Obligations and containing only such cash or cash equivalents that have been required to be pledged to secure such obligations of Borrower; provided, that the aggregate amount of cash or Cash Equivalents deposited in such XX Xxxx Collateral Accounts does not, at any time, exceed Five Hundred Thousand Dollars ($500,000) in the aggregate.

XX Xxxx Collateral Account means an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders.