Definition. In a cash collateral agreement, a borrower agrees to put money in a bank account or trust fund as a financial guarantee, enabling the lender to periodically withdraw cash from that account to repay the loan. In essence, cash in the collateral account no longer belongs to the debtor. For example, a bank consents to a 1 million secured loan with a company and asks top leadership to post collateral in the form of a long-term asset, short-term resource or cash.
Senior management decides it's strategically sensible to use cash rather than equipment, and cash money personal loans ontario directs corporate treasurers to transfer 1 million into a newly created special-purpose account. During the loan amortization period, money will come out of this account to repay the debt. Significance.
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