Common use of Cash Collateral Pledge Clause in Contracts

Cash Collateral Pledge. Upon (i) the request of the ---------------------- Agent, (A) if the Issuing Bank has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (B) if, as of the Revolving Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (ii) the occurrence of the circumstances described in subsection 2.08(b) requiring the Company to Cash Collateralize Letters of Credit, then, the Company shall immediately Cash Collateralize the L/C Obligations in an amount equal to such L/C Obligations. The Company shall, to the extent necessary, make such additional pledges from time to time as shall be necessary to ensure that all L/C Obligations remain at all such times cash collateralized to the extent required herein. Cash collateral held under this Section 3.07 or Section 9.02 shall be maintained in blocked, non-interest bearing deposit accounts at BofA and shall be governed by the terms of the Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Mail Well Inc)

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Cash Collateral Pledge. Upon (i) Upon the request of the ---------------------- Agent, (A) if the Issuing Bank has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (Bii) if, as of the Revolving Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (iiiii) the occurrence of the circumstances described in subsection 2.08(b) or 2.08(c) requiring the Company Holdings to Cash Collateralize Letters of Credit, then, the Company Holdings shall immediately Cash Collateralize the L/C Obligations in an amount equal to such L/C Obligations. The Company Holdings shall, to the extent necessary, make such additional pledges from time to time as shall be necessary to ensure that all L/C Obligations remain at all such times fully cash collateralized to the extent required hereincollateralized. Cash collateral held under this Section 3.07 or Section 9.02 shall be maintained in blocked, non-interest bearing deposit accounts at BofA and shall be governed by the terms of Wells Fargo pursuant to the Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

Cash Collateral Pledge. Upon (i) Upon the request of the ---------------------- Agent, (A) if the Issuing Bank has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (Bii) if, as of the Revolving Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (iiiii) the occurrence of the circumstances described in subsection 2.08(b) or 2.08(c) requiring the Company Holdings to Cash Collateralize Letters of Credit, then, the Company Holdings shall immediately Cash Collateralize the L/C Obligations in an amount equal to such L/C Obligations. The Company Holdings shall, to the extent necessary, make such additional pledges from time to time as shall be necessary to ensure that all L/C Obligations remain at all such times fully cash collateralized to the extent required hereincollateralized. Cash collateral held under this Section 3.07 or Section 9.02 shall be maintained in blocked, non-interest bearing deposit accounts at BofA and shall be governed by the terms of pursuant to the Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

Cash Collateral Pledge. (a) Upon (i) the request of the ---------------------- Administrative Agent, (A) if the Issuing Bank L/C Issuer has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (Bb) if, as of the Revolving Termination Loan Maturity Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (iic) the occurrence of the circumstances described in subsection 2.08(bSection 2.08(a)(i) or Section 2.08(a)(ii) requiring the Company Holdings to Cash Collateralize Letters of Credit, then, the Company Holdings shall immediately Cash Collateralize the L/C Obligations in an amount equal to such L/C Obligations. The Company Holdings shall, to the extent necessary, make such additional pledges from time to time as shall be necessary to ensure that all L/C Obligations remain at all such times cash collateralized to the extent required hereinfully Cash Collateralized. Cash collateral held under this Section 3.07 or Section 9.02 shall be maintained in blocked, non-interest bearing deposit accounts at BofA and shall be governed by the terms of Xxxxx Fargo pursuant to the Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

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Cash Collateral Pledge. (a) Upon (i) the request of the ---------------------- Administrative Agent, (A) if the Issuing Bank L/C Issuer has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (Bb) if, as of the Revolving Termination Loan Maturity Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (iic) the occurrence of the circumstances described in subsection 2.08(bSection 2.08(a)(i) requiring the Company Holdings to Cash Collateralize Letters of Credit, then, the Company Holdings shall immediately Cash Collateralize the L/C Obligations in an amount equal to such L/C Obligations. The Company Holdings shall, to the extent necessary, make such additional pledges from time to time as shall be necessary to ensure that all L/C Obligations remain at all such times cash collateralized to the extent required hereinfully Cash Collateralized. Cash collateral held under this Section 3.07 or Section 9.02 shall be maintained in blocked, non-interest bearing deposit accounts at BofA and shall be governed by the terms of Wxxxx Fargo pursuant to the Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

Cash Collateral Pledge. (a) Upon (i) the request of the ---------------------- Administrative Agent, (A) if the Issuing Bank L/C Issuer has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in an L/C Borrowing hereunder, or (Bb) if, as of the Revolving Termination Loan Maturity Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (iic) the occurrence of the circumstances described in subsection 2.08(bSection 2.08(a)(i) requiring the Company Holdings to Cash Collateralize Letters of Credit, then, the Company Holdings shall immediately Cash Collateralize the L/C Obligations in an amount equal to such L/C Obligations. The Company Holdings shall, to the extent necessary, make such additional pledges from time to time as shall be necessary to ensure that all L/C Obligations remain at all such times cash collateralized to the extent required hereinfully Cash Collateralized. Cash collateral held under this Section 3.07 or Section 9.02 shall be maintained in blocked, non-interest bearing deposit accounts at BofA and shall be governed by the terms of Xxxxx Fargo pursuant to the Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

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