Common use of Cash Collateral Procedures Clause in Contracts

Cash Collateral Procedures. Any amounts so received by the Administrative Agent pursuant to the provisions of Section 2.7.3, Section 2.7.7, or Section 3.1(b) shall be held as collateral security first for the repayment of all Obligations in connection with the Letters of Credit and second for the repayment of all other Obligations. All amounts being held pursuant to this Section 2.7.4 shall, until their application to any Obligations or their return to the Borrower, as the case may be, at the written request of an Authorized Officer of the Borrower, be invested in Cash Equivalent Investments designated by the Borrower and reasonably satisfactory to the Administrative Agent but under the sole dominion and control of the Administrative Agent. Such amounts and such Cash Equivalent Investments shall be held by the Administrative Agent as additional collateral security for, and the Borrower hereby grants to the Administrative Agent and its bailees for the benefit of the Administrative Agent, the Issuer and the Lenders a security interest in such amounts and such Cash Equivalent Investments (including all interest thereon and all proceeds thereof) and any deposit or securities accounts in which such amounts or Cash Equivalent Investments are held to secure, the repayment of the Obligations under and in connection with the Letters of Credit and all other Obligations. Any losses, net of earnings, and reasonable fees and expenses of such Cash Equivalent Investments shall be charged against the principal amount invested. None of the Administrative Agent, the Issuer and the Lenders shall be liable for any loss resulting from any Cash Equivalent Investment made by the Administrative Agent, whether at the Borrower’s request or otherwise. The Administrative Agent is not obligated hereby, or by any other Loan Documents, to make or maintain any Cash Equivalent Investment, except upon timely written request by an Authorized Officer of the Borrower. If and to the extent that (a) the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to Letter of Credit Liabilities in connection with any prepayment pursuant to Section 3.1, upon the cure or waiver of all Events of Default, or (b)(i) all Obligations have been fully paid and satisfied, and (ii) the commitments and obligations of the Issuer and the Lenders under the Letters of Credit and this Agreement have terminated, in each case, the Administrative Agent shall promptly return to the Borrower by wire transfer in immediately available funds, all amounts previously paid to the Administrative Agent by the Borrower pursuant to Section 2.7.3, Section 2.7.7, or Section 3.1(b) together with interest thereon, if any, not theretofore applied to reduce amounts payable by the Borrower to the Administrative Agent, the Issuer or any Lender under this Agreement or any other Loan Document.

Cash Collateral Procedures. Any amounts so received by the Administrative Agent pursuant to the provisions of Section 2.7.3, Section 2.7.7, 2.7.3 or Section 3.1(b) 3.1 shall be held as collateral security first for the repayment of all Obligations in connection with the Letters of Credit and second for the repayment of all other Obligations. All amounts being held pursuant to this Section 2.7.4 shall, until their application to any Obligations or their return to the Borrower, as the case may be, at the written request of an Authorized Officer of the Borrower, be invested in Cash Equivalent Investments designated by the Borrower and reasonably satisfactory to the Administrative Agent but under the sole dominion and control of the Administrative Agent. Such amounts and such Cash Equivalent Investments shall be held by the Administrative Agent as additional collateral security for, and the Borrower hereby grants to the Administrative Agent and its bailees for the benefit of the Administrative AgentAgents, the Issuer and the Lenders Banks a security interest in such amounts and such Cash Equivalent Investments (including all interest thereon and all proceeds thereof) and any deposit or securities accounts in which such amounts or Cash Equivalent Investments are held to secure, the repayment of the Obligations under and in connection with the Letters of Credit and all other Obligations. Any losses, net of earnings, and reasonable fees and expenses of such Cash Equivalent Investments shall be charged against the principal amount invested. None of the Administrative AgentAgents, the Issuer and the Lenders Banks shall be liable for any loss resulting from any Cash Equivalent Investment made by the Administrative Agent, whether at the Borrower’s 's request or otherwise. The Administrative Agent is not obligated hereby, or by any other Loan Documents, to make or maintain any Cash Equivalent Investment, except upon timely written request by an Authorized Officer of the Borrower. If and to the extent that (a) the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to Letter of Credit Liabilities in connection with any prepayment pursuant to Section 3.1, upon the cure or waiver of all Events of Default, or (b)(i) all Obligations have been fully paid and satisfied, and (ii) the commitments and obligations of the Issuer and the Lenders under the Letters of Credit and this Agreement have terminated, in each case, the Administrative Agent shall promptly return to the Borrower by wire transfer in immediately available funds, all amounts previously paid to the Administrative Agent by the Borrower pursuant to Section 2.7.3, Section 2.7.7, or Section 3.1(b) maintain 3.1 together with interest thereon, if any, not theretofore applied to reduce amounts payable by the Borrower to the Administrative AgentAgents, the Issuer or any Lender Bank under this Agreement or any other Loan Document.

Cash Collateral Procedures. Any amounts so received by the Administrative Agent pursuant to the provisions of Section 2.7.3, Section 2.7.7, 2.7.4 (a) or Section 3.1(b) 3.1 shall be held as collateral security first for the repayment of all Obligations in connection with the Letters of Credit and second for the repayment of all other Obligations. Any amounts so received by the Administrative Agent pursuant to the provisions of Section 2.7.4(b) shall be held as collateral security first for the repayment of all Obligations in connection with the relevant Letters of Credit with respect to which such amounts were provided in accordance with Section 2.7.4 (b) and second for the repayment of all other Obligations. All amounts being held pursuant to this Section 2.7.4 2.7.5 shall, until their application to any Obligations or their return to the BorrowerBorrowers, as the case may be, at the written request of an Authorized Officer of the BorrowerBorrowers, be invested in Cash Equivalent Investments designated by the Borrower Borrowers and reasonably satisfactory acceptable to the Administrative Agent but under the sole dominion and control of the Administrative Agent. Such amounts and such Cash Equivalent Investments shall be held by the Administrative Agent as additional collateral security for, and the each Borrower hereby grants to the Administrative Agent and its bailees for the benefit of the Administrative Agent, the Issuer and the Lenders Lender Parties a security interest in such amounts and such Cash Equivalent Investments (including all interest thereon and all proceeds thereof) and any deposit or securities accounts in which such amounts or Cash Equivalent Investments are held to secure, the repayment of the Obligations under and in connection with the Letters of Credit and all other Obligations. Any losses, net of earnings, and reasonable fees and expenses of such Cash Equivalent Investments shall be charged against the principal amount invested. None of the Administrative Agent, the Issuer and the Lenders shall be liable for any loss resulting from any such Cash Equivalent Investment made by the Administrative Agent, whether at the Borrower’s Borrowers' request or otherwiseotherwise except for those losses resulting from acts or omissions constituting gross negligence or willful misconduct on the part of the Administrative Agent or any of its officers, employees or agents. The Notwithstanding anything herein to the contrary, the Administrative Agent is not obligated hereby, or by any other Loan Documents, to make or maintain any Cash Equivalent Investment, except upon timely written request by an Authorized Officer of the BorrowerBorrowers. If and to the extent that (a) the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to Letter of Credit Liabilities in connection with any prepayment pursuant to Section 3.1, upon the cure or waiver of all Events of Default, or (b)(i) all Obligations have been fully paid and satisfied, ; and (iib) the commitments and obligations of the Issuer (and the Lenders other Lenders) under the Letters of Credit and this Agreement have terminated and all Letters of Credit shall have expired or been terminated, in each case, then the Administrative Agent shall promptly return to the Borrower by wire transfer in immediately available fundsBorrowers, upon the Borrowers' request therefor, all amounts previously paid to the Administrative Agent by the Borrower Borrowers pursuant to Section 2.7.3, Section 2.7.7, 2.7.4 or Section 3.1(b) 3.1 together with interest thereon, if any, and not theretofore applied to reduce amounts payable by the Borrower Borrowers to the Administrative Agent, the Issuer or any Lender of the other Lenders under this Agreement or any other Loan Document.

Cash Collateral Procedures. Any amounts so received by the Administrative Agent pursuant to the provisions of Section 2.7.3, Section 2.7.7, 2.7.3 or Section 3.1(b) 3.1 shall be held as collateral security first for the repayment of all Obligations in connection with the Letters of Credit and second for the repayment of all other Obligations. All amounts being held pursuant to this Section 2.7.4 shall, until their application to any Obligations or their return to the Borrower, as the case may be, at the written request of an Authorized Officer of the Borrower, be invested in Cash Equivalent Investments designated by the Borrower and reasonably satisfactory acceptable to the Administrative Agent in its sole discretion but under the sole dominion and control of the Administrative Collateral Agent. Such amounts and such Cash Equivalent Investments shall be held by the Administrative Collateral Agent as additional collateral security for, and the Borrower hereby grants to the Administrative Collateral Agent and its bailees for the benefit of the Administrative AgentAgents, the Issuer and the Lenders a security interest in such amounts and such Cash Equivalent Investments (including all interest thereon and all proceeds thereof) and any deposit or securities accounts in which such amounts or Cash Equivalent Investments are held to secure, the repayment of the Obligations under and in connection with the Letters of Credit and all other Obligations. Any losses, net of earnings, and reasonable fees and expenses of such Cash Equivalent Investments shall be charged against the principal amount invested. None of the Administrative AgentAgents, the Issuer and nor any of the Lenders shall be liable for any loss resulting from any Cash Equivalent Investment made by the Administrative Collateral Agent, whether at the Borrower’s 's request or otherwise. The Administrative Collateral Agent is not obligated hereby, or by any other Loan Documents, to make or maintain any Cash Equivalent Investment, except upon timely written request by an Authorized Officer of the Borrower. If and to the extent that (a) the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to Letter of Credit Liabilities in connection with any prepayment pursuant to Section 3.1, upon the cure or waiver of all Events of Default, or (b)(i) all Obligations have been fully and indefeasibly paid and satisfied, and (iib) the commitments and obligations of the Issuer and the Lenders under the Letters of Credit and this Agreement have terminated, in each case, the Administrative Collateral Agent shall promptly return to the Borrower by wire transfer in immediately available fundsBorrower, upon the Borrower's request therefor all amounts previously paid to the Administrative Agent by the Borrower pursuant to Section 2.7.3, Section 2.7.7, 2.7.3 or Section 3.1(b) 3.1 together with interest thereon, if any, and not theretofore applied to reduce amounts payable by the Borrower to the Administrative Agent, the Issuer or any Lender Lenders under this Agreement or any other Loan Document.