Common use of Cash Collateral for Letters of Credit Clause in Contracts

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstanding, Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders entitled thereto, an amount of cash equal to 105% of the amount of L/C Reimbursement Obligations of the applicable Borrower as additional collateral security for Obligations. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations, subject to the other limitations contained herein including the security principles under Section 11.8. The remaining balance of the cash collateral will be returned to the applicable Borrowers when all Letters of Credit of all of the Borrowers have been terminated or discharged, all Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been paid in full in cash or otherwise satisfied in accordance with the terms hereof.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Revolving Loan Commitment) shall be terminated for any reason, or if any Letters of Credit remain outstanding for any reason whatsoever after the Revolving Termination Date or if otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstandinghereof, Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers shall thereupon deliver to Agent, to be held for the benefit of the L/C IssuerIssuers, Agent and the Lenders entitled thereto, an amount of cash equal to 105107% of the amount of L/C Reimbursement Obligations of the applicable Borrower as additional collateral security for Obligations. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations, subject to the other limitations contained herein including the security principles under Section 11.8. The remaining balance of the cash collateral will be returned to the applicable Borrowers when all Letters of Credit of all of the Borrowers have been terminated or discharged, all the Aggregate Revolving Loan Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been indefeasibly paid in full in cash or otherwise satisfied in accordance with the terms hereofcash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Revolving Loan LoanLC Facility Commitment) shall be terminated for any reason or if otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstandinghereof, Agent may, and upon request of Required Revolving RevolvingLC Facility Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers Borrower shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the theLC Facility Lenders entitled thereto, an amount of cash equal to 105% of the amount of L/C Reimbursement Obligations of the applicable Borrower as additional collateral security for Obligations. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations, subject to the other limitations contained herein including the security principles under Section 11.8. The remaining balance of the cash collateral will be returned to the applicable Borrowers Borrower when all Letters of Credit of all of the Borrowers have been terminated or discharged, all Commitments have been terminated and all Obligations have been paid in full in cash (other than obligations in respect of Bank Products and Secured Rate Contracts and contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been paid in full in cash or otherwise satisfied in accordance with the terms hereofasserted).

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, continuing or this Agreement (or the Aggregate Revolving Loan Commitment) shall be terminated for any reason reason, then the Agent, at the request of Banks holding more than fifty percent (50%) of the Revolving Loan Commitments (or if otherwise required by there are three or fewer Banks holding Revolving Loan Commitments, at the terms hereof at a time when Letters of Credit Issued hereunder are outstanding, Agent may, and upon request of Required all Banks holding Revolving Lenders, Loan Commitments) shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.27.2 hereof or upon payment in full of the Term Loans and the Term Loans (Foreign Currency)), and the applicable Borrowers Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders Banks entitled thereto, an amount of cash equal to 105% of the amount of L/C Reimbursement Obligations Letter of the applicable Borrower Credit Participation Liability (determined in accordance with subsection 1.1(c) hereof) as additional collateral security for Obligationsthe Borrower’s Obligations in respect of any outstanding Bank Letter of Credit and Letter of Credit Participation Agreement. The Agent may at any time upon notice to the Issuing Bank apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations, subject to the other limitations contained herein including the security principles under Section 11.8. The remaining balance Borrower’s Obligations in respect of the cash collateral will be returned to the applicable Borrowers when all any Bank Letters of Credit or Letter of all Credit Participation Agreements. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest bearing account in the Agent’s name, for the benefit of the Borrowers have been terminated or dischargedAgent and the Banks entitled thereto, all Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that which deposits are available for immediate withdrawal, at such time are no longer secured under bank or financial institution as the Collateral Documents) have been paid Agent may, in full in cash or otherwise satisfied in accordance with the terms hereofits discretion, select.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstandinghereof, Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers Borrower shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders entitled thereto, an amount of cash equal to 105103% of the amount of L/C Reimbursement Letter of Credit Obligations of the applicable Borrower as additional collateral security for ObligationsObligations in respect of any outstanding Letter of Credit. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ ObligationsObligations in respect of any Letters of Credit. Pending such application, subject to Agent may (but shall not be obligated to) invest the other limitations contained herein including same in an interest bearing account in Agent’s name, for the security principles benefit of the L/C Issuer, Agent and the Lenders entitled thereto, under Section 11.8which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and Agent may, in their discretion, select. The remaining balance of the cash collateral will be returned to the Borrower or any other Person entitled thereto under applicable Borrowers law when all Letters of Credit of all of the Borrowers have been terminated or discharged, all the Aggregate Revolving Loan Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been indefeasibly paid in full in cash or otherwise satisfied in accordance with the terms hereofcash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Orig inal Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstandinghereof, Agent may, and upon request of Required Original Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers Borrower shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders entitled thereto, an amount of cash equal to 105103% of the amount of L/C Reimbursement Letter of Credit Obligations of the applicable Borrower as additional collateral security for ObligationsObligations in respect of any outstanding Letter of Credit. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ ObligationsObligations in respect of any Letters of Credit. Pending such application, subject to Agent may (but shall not be obligated to) invest the other limitations contained herein including same in an interest bearing account in Agent’s name, for the security principles benefit of the L/C Issuer, Agent and the Lenders entitled thereto, under Section 11.8which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and Agent may, in their discretion, select. The remaining balance of the cash collateral will be returned to the Borrower or any other Person entitled thereto under applicable Borrowers law when all Letters of Credit of all of the Borrowers have been terminated or discharged, all the Aggregate Orig inal Revolving Loan Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been indefeasibly paid in full in cash or otherwise satisfied in accordance with the terms hereofcash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstandinghereof, Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers Borrower shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders entitled thereto, an amount of cash equal to 105% of the amount of L/C Reimbursement Obligations of the applicable Borrower as additional collateral security for Obligations. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any outstanding Letters of Credit and, following acceleration or maturity of the Obligations, subject to the payment of any or all other limitations contained herein including Obligations of the security principles under Section 11.8Credit Parties. The remaining balance of the cash collateral will be returned to the applicable Borrowers Borrower upon the earlier of (i) such Event of Default no longer continuing and (ii) when all Letters of Credit of all of the Borrowers have been terminated or discharged, all Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been paid in full in cash or otherwise satisfied in accordance with the terms hereofcash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Original Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstandinghereof, Agent may, and upon request of Required Original Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers Borrower shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders entitled thereto, an amount of cash equal to 105103% of the amount of L/C Reimbursement Letter of Credit Obligations of the applicable Borrower as additional collateral security for ObligationsObligations in respect of any outstanding Letter of Credit. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ ObligationsObligations in respect of any Letters of Credit. Pending such application, subject to Agent may (but shall not be obligated to) invest the other limitations contained herein including same in an interest bearing account in Agent’s name, for the security principles benefit of the L/C Issuer, Agent and the Lenders entitled thereto, under Section 11.8which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and Agent may, in their discretion, select. The remaining balance of the cash collateral will be returned to the Borrower or any other Person entitled thereto under applicable Borrowers law when all Letters of Credit of all of the Borrowers have been terminated or discharged, all the Aggregate Original Revolving Loan Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been indefeasibly paid in full in cash or otherwise satisfied in accordance with the terms hereofcash.

Cash Collateral for Letters of Credit. If (a) an Event of Default has occurred and is continuing, (b) this Agreement (or the Aggregate Revolving Loan CommitmentCommitment of all Lenders) shall be terminated for any reason or if (c) otherwise required by the terms hereof at a time when Letters of Credit Issued hereunder are outstandinghereof, then Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the applicable Borrowers shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders entitled thereto, an amount of cash equal to 105% of the amount of L/C Reimbursement Obligations of the applicable Borrower as additional collateral security for ObligationsObligations in respect of any outstanding Letter of Credit. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations, subject to the other limitations contained herein including the security principles under Section 11.8Obligations in respect of any outstanding Letter of Credit. The remaining balance of the cash collateral will be returned to the applicable Borrowers when all Letters of Credit of all of the Borrowers have been terminated or discharged, all Commitments have been terminated and all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time are no longer secured under the Collateral Documents) have been paid in full in cash. Notwithstanding the foregoing, if the Borrowers are required to provide an amount of cash or otherwise satisfied in accordance with collateral hereunder as a result of the terms hereofoccurrence of an Event of Default, such amount shall be returned to the Borrowers within five (5) Business Days upon the Borrowers’ written request after all Events of Default have been waived.