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 or Section 3.1 shall be held as collateral security first for the repayment of all Obligations in connection with 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 acceptable to the Administrative Agent in its sole discretion but under the sole dominion and control of the Collateral Agent. Such amounts and such Cash Equivalent Investments shall be held by the Collateral Agent as additional collateral security for, and the Borrower hereby grants to the Collateral Agent and its bailees for the benefit of the Agents, the Issuer and the Lenders a security interest in such amounts and such Cash Equivalent Investments (including all interest thereon and all proceeds thereof) to secure, the repayment of the Obligations under and in connection with 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 Agents, the Issuer nor any of the Lenders shall be liable for any loss resulting from any Cash Equivalent Investment made by the Collateral Agent, whether at the Borrower's request or otherwise. The 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) all Obligations have been fully and indefeasibly paid and satisfied, and (b) the commitments and obligations of the Issuer and the Lenders under Letters of Credit and this Agreement have terminated, the Collateral Agent shall return to the Borrower, upon the Borrower's request therefor all amounts previously paid to the Administrative Agent by the Borrower pursuant to Section 2.7.3 or Section 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 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 or Section 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 acceptable reasonably satisfactory to the Administrative Agent in its sole discretion but under the sole dominion and control of the Collateral Administrative Agent. Such amounts and such Cash Equivalent Investments shall be held by the Collateral Administrative Agent as additional collateral security for, and the Borrower hereby grants to the Collateral Administrative Agent and its bailees for the benefit of the Agents, 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) 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 Agents, the Issuer nor any of and the Lenders Banks shall be liable for any loss resulting from any Cash Equivalent Investment made by the Collateral Administrative Agent, whether at the Borrower's request or otherwise. The Collateral 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) all Obligations have been fully and indefeasibly paid and satisfied, and (b) the commitments and obligations of the Issuer and the Lenders under Letters of Credit and this Agreement have terminated, the Collateral Agent shall return to the Borrower, upon the Borrower's request therefor all amounts previously paid to the Administrative Agent by the Borrower pursuant to Section 2.7.3 or Section maintain 3.1 together with interest thereon, if any, and not theretofore applied to reduce amounts payable by the Borrower to the Administrative AgentAgents, the Issuer or any Lenders 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 2.7.4 (a) or Section 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 acceptable to the Administrative Agent in its sole discretion but under the sole dominion and control of the Collateral Administrative Agent. Such amounts and such Cash Equivalent Investments shall be held by the Collateral Administrative Agent as additional collateral security for, and the each Borrower hereby grants to the Collateral Administrative Agent and its bailees for the benefit of the Agents, 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) 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 AgentsAdministrative Agent, the Issuer nor any of and the Lenders shall be liable for any loss resulting from any such Cash Equivalent Investment made by the Collateral 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 Collateral 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) all Obligations have been fully and indefeasibly paid and satisfied, ; and (b) 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, then the Collateral Administrative Agent shall return to the BorrowerBorrowers, upon the Borrower's Borrowers' request therefor therefor, all amounts previously paid to the Administrative Agent by the Borrower Borrowers pursuant to Section 2.7.3 2.7.4 or Section 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 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 2.7.3, Section 2.7.7, or Section 3.1 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 acceptable reasonably satisfactory to the Administrative Agent in its sole discretion but under the sole dominion and control of the Collateral Administrative Agent. Such amounts and such Cash Equivalent Investments shall be held by the Collateral Administrative Agent as additional collateral security for, and the Borrower hereby grants to the Collateral Administrative Agent and its bailees for the benefit of the AgentsAdministrative 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 AgentsAdministrative Agent, the Issuer nor any of and the Lenders shall be liable for any loss resulting from any Cash Equivalent Investment made by the Collateral Administrative Agent, whether at the Borrower's ’s request or otherwise. The Collateral 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 and indefeasibly paid and satisfied, and (bii) the commitments and obligations of the Issuer and the Lenders under the Letters of Credit and this Agreement have terminated, in each case, the Collateral Administrative Agent shall promptly return to the BorrowerBorrower by wire transfer in immediately available funds, upon the Borrower's request therefor all amounts previously paid to the Administrative Agent by the Borrower pursuant to Section 2.7.3 2.7.3, Section 2.7.7, or Section 3.1 3.1(b) 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 Lenders Lender under this Agreement or any other Loan Document.