Account Collateral Sample Clauses

Account Collateral. (a) Borrower hereby grants a perfected first-priority security interest in favor of Lender in and to the Account Collateral as security for the Indebtedness, together with all rights of a secured party with respect thereto. Each Collateral Account shall be an Eligible Account under the sole dominion and control of Lender and shall be in the name of Borrower, as pledgor, and Lender, as pledgee. Borrower shall have no right to make withdrawals from any of the Collateral Accounts. Funds in the Collateral Accounts shall not be commingled with any other monies at any time. Borrower shall execute any additional documents that Lender in its reasonable discretion may require and shall provide all other evidence reasonably requested by Lender to evidence or perfect its first-priority security interest in the Account Collateral. (b) The insufficiency of amounts contained in the Collateral Accounts shall not relieve Borrower from its obligation to fulfill all covenants contained in the Loan Documents. (c) During the continuance of an Event of Default, Lender may, in its sole discretion, apply funds in the Collateral Accounts either toward the components of the Indebtedness (e.g., interest, principal and other amounts payable hereunder), the Loan and the Notes in such sequence as Lender shall elect in its sole discretion or toward the payment of Operating Expenses and Capital Expenditures.

Account Collateral. (i) Each Loan Party shall subject all deposit accounts and securities accounts to Control Agreements or the Depositary Agreement other than (A) accounts holding no more than $1,000,000 in the aggregate for any five consecutive Business Days, (B) accounts of the Loan Parties on which a Lien is permitted pursuant to Section 8.02(a) or (C) any other payroll account, trust account, escrow account, zero balance account or substantially similar account, in each case to the extent remaining such type of account. (ii) With respect to any Control Agreement governing any deposit accounts or securities accounts of the Borrower Group Parties that does not, upon a termination of such Control Agreement by the financial institution or securities intermediary party thereto, provide for a transfer of all amounts on deposit in, or credited to, such accounts on the effective date of termination thereof, the Collateral Agent shall be entitled, upon receipt of notice of any such termination by the Collateral Agent, no earlier than five Business Days prior to the effective date of such termination (and notwithstanding the absence of an Event of Default) to (A) issue instructions, entitlement orders or directions to such securities intermediary with respect to any such securities accounts (or securities entitlements) and (B) issue any instructions to any financial institution maintaining any deposit account in each case to liquidate such account and transfer all amounts on deposit in, or credited to, such accounts on the date of such termination to an account of the Borrower Group Parties subject to a Control Agreement, if reasonably available, or, if such an account is not reasonably available, to the Collateral Agent.

Account Collateral. All of the following, whether now or hereafter existing, which are owned by Debtor or in which Debtor otherwise has any rights (collectively, the “Account Collateral”): (i) the Cash Collateral Account, all funds held therein, and all certificates and instruments, if any, from time to time representing or evidencing the Cash Collateral Account, and (ii) all notes, certificates of deposit, deposit accounts, checks and other instruments from time to time hereafter delivered to or otherwise possessed by Secured Party for and on behalf of Debtor in substitution for or in addition to any of the then existing Account Collateral; provided that Secured Party acknowledges that funds in the Cash Collateral Account may be subject to reversionary rights in connection with terminations of Debtor's factoring agreements; and

Account Collateral. (a) Pursuant to the Granting Clause, the Issuer has granted a first-priority security interest in favor of the Indenture Trustee in and to the Account Collateral as security for the Notes, together with all rights of a secured party with respect thereto. The Issuer shall execute any additional documents that the Indenture Trustee in its reasonable discretion may require and shall provide all other evidence reasonably requested by the Indenture Trustee to evidence or perfect the Indenture Trustee's first-priority security interest in the Account Collateral. (b) So long as no Event of Default shall be continuing, the Issuer shall be permitted to direct, by written direction, the investment of the funds from time to time held in the Collection Account in Permitted Investments and to sell and reinvest proceeds from the sale or liquidation of Permitted Investments in other Permitted Investments, with all such proceeds and reinvestments to be held in the Collection Account; provided, however, that the maturity of an adequate portion of the Permitted Investments on deposit in the Collection Account shall be no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn therefrom pursuant to this Indenture. All income and gains from the investment of funds in the Collection Account shall be credited to the Collection Account. As between the Issuer and the Indenture Trustee, the Issuer shall treat all income, gains and losses from the investment of amounts in the Collection Account as its income or loss for federal, state and local income tax purposes and the Issuer shall receive all benefit from such income. (c) After the Notes and all other amounts hereunder and under the Insurance Agreement have been paid in full, each of the Lockbox Account and the Collection Account shall be closed and the balance, if any, therein shall be disbursed to the Issuer.

Account Collateral. 68 Section 6.12.

Account Collateral. Borrower acknowledges and agrees that ten (10) days’ prior written notice of the time and place of any public sale of the Account Collateral or any other intended disposition thereof shall be reasonable and sufficient notice to Borrower within the meaning of the UCC.

Account Collateral. (a) The Issuer Accounts have been established as of the date hereof, or will be established promptly thereafter, with Account Bank in accordance with the Issuer Account Management Agreement. (b) The Issuer Accounts will be maintained and operated in accordance with the terms of the Issuer Account Management Agreement. Grantor acknowledges and agrees that withdrawals and transfers from the Issuer Accounts and investments of amounts on deposit therein will be made only to the extent permitted by and in accordance with the terms of the Issuer Account Management Agreement and the Control Agreement (Issuer Accounts). (c) Grantor will not establish any Deposit Accounts, Securities Accounts, Commodity Accounts or other investment or similar accounts, other than the Issuer Accounts without the consent of Secured Party.

Account Collateral. Maintain, and cause each other Loan Party to maintain, the Account Collateral with one or more banks reasonably acceptable to the Administrative Agent that have accepted the assignment of such accounts to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement; maintain the Revolving LC Collateral Account and the Term LC Collateral Account with the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement; and fund the Revolving LC Collateral Account and the Term LC Collateral Account in accordance with the terms of the Transaction Documents. Notwithstanding anything herein to the contrary, so long as any Event of Default has occurred or is continuing, the Borrower shall cause any Asset Sale Proceeds, Equity Proceeds, Insurance Proceeds or Eminent Domain Proceeds that are subject to any Reinvestment Notice, Reinvestment Commitment Notice or Repair Notice, as applicable, to be held as cash collateral in the Reinvestment and Repair Account and applied in accordance with Section 7(b) of the Security Agreement.

Account Collateral. 77 SECTION 6.12. PERMITTED INVESTMENTS.....................................78 SECTION 6.13. BANKRUPTCY................................................78 SECTION 6.14. LETTERS OF CREDIT.........................................79 SECTION 6.15. PROVISIONS REGARDING LETTERS OF CREDIT....................80