Question

what is collateral deposit​

Answer 1

Answer:

hi,

Definition of Collateral Deposit Accounts

Collateral Deposit Accounts means each Deposit Account maintained by each Borrower (other than Micron) into which cash, checks or other similar payments relating or consisting of payments made in respect of Receivables are deposited as required under the terms hereof.

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Answer 2

Answer:

a collateral is an asset which the borrower owns and uses this as a guarantee to a lender until the loan is repaid

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