Credit-Linked Deposit Account Clause Samples

Credit-Linked Deposit Account. (a) The Tranche C-3 Credit-Linked Deposits shall be held by the Administrative Agent in the Tranche C-3 Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Tranche C-3 Credit-Linked Deposit Account or any other right or power with respect to the Tranche C-3 Credit-Linked Deposits, except as expressly set forth in Section 2.05, 2.09 or 2.12. Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Tranche C-3 Lender in respect of its participation in Tranche C-3 Letters of Credit shall be satisfied in full upon the funding of its Tranche C-3 Credit-Linked Deposit on the May 2006 Amendment Effective Date. (b) Each of the U.S. Borrower, the Administrative Agent, each Issuing Bank issuing any Tranche C-3 Letter of Credit and each Tranche C-3 Lender hereby acknowledges and agrees that each Tranche C-3 Lender is funding its Tranche C-3 Credit-Linked Deposit to the Administrative Agent for application in the manner contemplated by Section 2.05 and that the Administrative Agent has agreed to invest the Tranche C-3 Credit-Linked Deposits so as to earn a return (except during periods when, and to the extent to which, such Tranche C-3 Credit-Linked Deposits are used to cover unreimbursed Tranche C-3 L/C Disbursements, and subject to Section 2.15) for the Tranche C-3 Lenders equal to a rate per annum, reset daily on each Business Day for the period until the next following Business Day, equal to (i) such day’s rate for one month LIBOR deposits (the “Benchmark LIBOR Rate”) computed on the basis of the actual number of days elapsed in a year of 365 days (or 366 days in a leap year) minus (ii) 0.10%. Such interest will be paid to the Tranche C-3 Lenders by the Administrative Agent quarterly in arrears when Letter of Credit fees are payable pursuant to Section 2.13. In addition to the foregoing payments by the Administrative Agent, the U.S. Borrower agrees to make payments to the Tranche C-3 Lenders quarterly in arrears when Letter of Credit fees are payable pursuant to Section 2.13 (and together with the payment of such fees) in an amount equal to 0.10% per annum on the amounts of their respective Tranche C-3 Credit-Linked Deposits. (c) The U.S. Borrower shall have no right, title or interest in or to the Tranche C-3 Credit-Linked Deposits and no obligations with respect thereto (except for the reimbursement obligations provided in Section 2.05 and the obliga...

Credit-Linked Deposit Account. (a) On the Restatement Effective Date and subject to the satisfaction of the conditions precedent set forth in Sections 5 and 6, each CL Lender on such date shall pay to the Deposit Bank such CL Lender’s Credit-Linked Deposit. The Credit-Linked Deposits shall be held by the Deposit Bank in (or credited to) the Credit-Linked Deposit Account, and no Person other than the Deposit Bank shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each CL Lender in respect of its participation in CL Credit Events shall be satisfied in full upon the funding in full of its Credit-Linked Deposit. (b) Each of the Deposit Bank, the Administrative Agent, each Issuing Lender, each Bank Guaranty Issuer and each CL Lender hereby acknowledges and agrees that (i) each CL Lender is funding its Credit-Linked Deposit to the Deposit Bank for application in the manner contemplated by Sections 2A.04 and 2B.04, (ii) the Deposit Bank may invest the Credit-Linked Deposits in such investments as may be determined from time to time by the Deposit Bank and (iii) the Deposit Bank has agreed to pay to the Administrative Agent, who shall in turn pay to each CL Lender, a return on its Credit-Linked Deposit (except (x) during periods when such Credit-Linked Deposits are used to reimburse an Issuing Lender or a Bank Guaranty Issuer, as the case may be, with respect to payments and disbursements on Letters of Credit and/or Bank Guaranties or (y) as otherwise provided in Sections 2C.01(d) and 2C.01(e)) for each CL Lender equal at any time to the LIBOR Rate for the Interest Period in effect for the Credit-Linked Deposits at such time less the Credit-Linked Deposit Cost Amount at such time. Such interest will be paid to the CL Lenders (solely from amounts received by it from the Deposit Bank) at the LIBOR Rate for an Interest Period of three months (or at an amount determined in accordance with Sections 2C.01(d) or 2C.01(e), as applicable) less, in each case, the Credit-Linked Deposit Cost Amount in arrears on each CL Interest Payment Date.

Credit-Linked Deposit Account. (a) The Credit-Linked Deposits shall be held by the Administrative Agent in the Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each Lender in respect of its participation in Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit. (b) Each of the Administrative Agent, each Issuing Bank issuing any Letter of Credit and each Lender hereby acknowledges and agrees that each Lender is funding its Credit-Linked Deposit to the Administrative Agent for application in the manner contemplated by SECTION 2.5(d) and that the Administrative Agent has agreed to invest the Credit-Linked Deposits so as to earn a return (subject to SECTION 2.12) for the Lenders equal at any time to the LIBID Rate for the Interest Period in effect for the Credit-Linked Deposits at such time. Such Interest will be paid to the Lenders by the Administrative Agent at the applicable LIBID Rate (or at an amount determined in accordance with clause (iv) of SECTION 2.12, if applicable) in arrears on the last day of each Interest Period applicable to the Credit-Linked Deposits. (c) The Borrower shall have no right, title or interest in or to the Credit-Linked Deposits and no obligations with respect thereto, it being acknowledged and agreed by the parties hereto that the making of the Credit-Linked Deposits by the Lenders, the provisions of this Section 2.6 and the application of the Credit-Linked Deposits in the manner contemplated by SECTION 2.5(d) constitute agreements among the Administrative Agent, each Issuing Bank and each Lender with respect to the funding obligations of each Lender in respect of its participation in Letters of Credit and do not constitute any loan or extension of credit to the Borrower. (d) Any amount of Credit-Linked Deposits remaining on deposit in the Credit-Linked Deposit Account will be returned to the Lenders on the date on which all Obligations are paid in full, all Letters of Credit are cancelled or otherwise terminated and the credit facilities provided hereby are terminated.

Credit-Linked Deposit Account. (a) The Tranche A Credit-Linked Deposits shall be held by the Administrative Agent in the Tranche A Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Tranche A Credit-Linked Deposit Account or any other right or power with respect to the Tranche A Credit-Linked Deposits, except as expressly set forth in Section 2.05, 2.08 or 2.

Credit-Linked Deposit Account. (a) The Credit-Linked Deposits shall be held by the Administrative Agent in the Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits, except as expressly set forth in Section 2.05, 2.09 or 2.

Credit-Linked Deposit Account. (a) On the Closing Date, each LC Facility Lender paid to the LC Facility Agent for deposit in the Credit-Linked Deposit Account an amount equal to its LC Facility Commitment in accordance with Section 2.01(c)(i) and, on the Restatement Effective Date, a portion of the LC-1 Facility DepositDeposits of the Initial Extending Lenders were exchanged for LC-2 Facility Deposits pursuant to Section 2.01(c)(ii) and on the Amendment No. 2 Effective Date, a portion of the LC-1 Facility Deposits of the Amendment No. 2 Extending Lenders were exchanged for LC-3 Facility Deposits pursuant to Section 2.01(c)(iii). The LC Facility Deposits shall be held by the LC Facility Agent in the Credit-Linked Deposit Account, and no party other than the LC Facility Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the LC Facility Deposits. Notwithstanding anything herein to the contrary, (i) the funding obligation of each LC Facility Lender in respect of its participation in LC Facility Letters of Credit pursuant to Section 2.04 or otherwise as provided in this Agreement shall be satisfied in full upon the funding of its LC Facility Deposit (which, with respect to the LC-1 Facility Deposits, occurred on the Closing Date and, with respect to the LC-2 Facility Deposits, was deemed to have occurred on the Restatement Effective Date and, with respect to the LC-3 Facility Deposits, shall be deemed to have occurred on the RestatementAmendment No. 2 Effective Date) and (ii) each LC Facility Lender hereby grants a security interest in its LC Facility Deposit to the LC Facility Agent as security for the obligations of the LC Facility Issuing Bank in respect of the LC Facility (it being understood that this clause (ii) shall not relieve the U.S. Borrower of its reimbursement obligations hereunder). (b) Each of the Agent, the LC Facility Agent, the LC Facility Issuing Bank and each LC Facility Lender hereby acknowledges and agrees that each LC Facility Lender is funding its LC Facility Deposit to the LC Facility Agent for application in the manner contemplated by Section 2.04 and that the LC Facility Agent has agreed to invest the LC Facility Deposits so as to earn a return on the principal outstanding amount of the LC Facility Deposits from time to time (as they may be reduced and subsequently increased by withdrawals and deposits made with respect to the Credit-Linked Deposit Account pursuant to the other provisions of th...

Credit-Linked Deposit Account. (a) On the Effective Date, DB will be the sole Tranche 1 Bank. DB shall be responsible for all obligations of the Tranche 1 Banks (including matters related to exposure with respect to, and rights to receive payments in respect of, Letters of Credit) until it assigns its Tranche 1 Commitment to various banks and/or other financial institutions, which it intends (in its sole discretion) to do promptly following the Effective Date. Each such assignee of DB shall pay to the Administrative Agent its Tranche 1 Credit-Linked Deposit on the date such assignee becomes a Tranche 1

Credit-Linked Deposit Account. Each Tranche A Lender acknowledges and agrees that its obligation to acquire and fund participations in respect of Tranche A Letters of Credit pursuant to this subparagraph (B) is unconditional and irrevocable and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Tranche A Letter of Credit or the occurrence and continuance of a Default or the return of the Tranche A Credit Linked Deposits, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Without limiting the foregoing, each Tranche A Lender irrevocably authorizes the Administrative Agent to apply amounts of its Tranche A Credit-Linked Deposit as provided in this subparagraph (B).

Credit-Linked Deposit Account. (a) Subject to the terms and conditions hereof, each Funded L/C Participant severally agrees to make, on the Closing Date, a deposit with the Revolving Administrative Agent in an amount equal to such Funded L/C Participant’s Funded Letter of Credit Commitment and the Revolving Administrative Agent shall use such deposits to establish the Credit Linked Deposit Account. The Credit Linked Deposits shall be held by the Revolving Administrative Agent for the benefit of the L/C Arranger, and no party other than the Revolving Administrative Agent acting on the instructions of the L/C Arranger shall have a right of withdrawal from the Credit Linked Deposit Account or any other right or power with respect to the Credit Linked Deposits. Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Funded L/C Participant in respect of its Funded Letter of Credit Commitment and Funded Letter of Credit Participation shall be satisfied in full upon the funding of its Credit Linked Deposit on the Closing Date. (b) Each of the Borrower, the Revolving Administrative Agent, the L/C Arranger, the Issuing Lender and each Funded L/C Participant hereby acknowledges and agrees that each Funded L/C Participant is funding its Credit Linked Deposit to the Credit Linked Deposit Account for application in the manner contemplated by Sections 3.5 and 3.6(c). The Revolving Administrative Agent hereby agrees to direct the investment of the Credit Linked Deposits so as to earn a return (except during periods when such Credit Linked Deposits, or funds advanced by or on behalf of the Revolving Administrative Agent or the L/C Arranger against such Credit Linked Deposits, are used to cover drawings under Funded Letters of Credit) for the Funded L/C Participants for each date at the rate per annum (the “Deposit Return”) equal to (i) the three month Eurodollar Rate for successive three month Interest Periods, as determined by the Revolving Administrative Agent, minus (ii) 0.10% per annum (based on a 360-day year for the actual days elapsed) . The Deposit Return accrued through and including the last day of March, June, September and December of each year, shall be paid by the Revolving Administrative Agent to the Funded L/C Participants, in arrears on the first Business Day following each such last day, commencing on the first Business Date following the first such day to occur after the Closing Date and on the date on which the Credit Linked Deposits are ...