Common use of Maintaining the Account Collateral Clause in Contracts

Maintaining the Account Collateral. (a) So long as any Advance or any other Obligation of any Loan Party under any Loan Document shall remain unpaid, any Letter of Credit shall be outstanding and not cash collateralized in an amount equal to 105% of the face value thereof, any Secured Swap Control shall be in effect or any Lender shall have any Commitment, the Borrower will maintain the Cash Collateral Account with Bank of America. (b) The Collateral Agent shall have sole right to direct the disposition of funds with respect to the Cash Collateral Account; and it shall be a term and condition of the Cash Collateral Account, notwithstanding any term or condition to the contrary in any other agreement relating to the Cash Collateral Account, that no amount (including, without limitation, interest on Cash Equivalent Investments credited thereto) will be paid or released to or for the account of, or withdrawn by or for the account of, the Borrower or any other Person from the Cash Collateral Account. (c) The Collateral Agent may, at any time and without notice to, or consent form, the Grantor, transfer, or direct the transfer of, funds form the Cash Collateral Account to satisfy the Grantor's obligations under the Loan Documents if an Event of Default shall have incurred and be continuing.

Maintaining the Account Collateral. (a) So long as any Advance Loan or any other Obligation of any Loan Party under any Loan Document shall remain unpaid, any Letter of Credit shall be outstanding and not cash collateralized in an amount equal to 105% of the face value thereof, any Secured Swap Control Hedge Agreement shall be in effect or any Lender shall have any Commitment, the Borrower will maintain the Cash Collateral Account with Bank of America. (b) The Collateral Administrative Agent shall have sole right to direct the disposition of funds with respect to the Cash Collateral Account; and it shall be a term and condition of the Cash Collateral Account, notwithstanding any term or condition to the contrary in any other agreement relating to the Cash Collateral Account, that no amount (including, without limitation, interest on Cash Equivalent Investments Equivalents credited thereto) will be paid or released to or for the account of, or withdrawn by or for the account of, the Borrower or any other Person from the Cash Collateral Account. (c) The Collateral Administrative Agent may, at any time and without notice to, or consent formfrom, the Grantor, transfer, or direct the transfer of, funds form from the Cash Collateral Account to satisfy the Grantor's obligations under the Loan Documents if an Event of Default shall have incurred occurred and be continuing.