Common use of Cash Collateral, Repayment of Swing Line Advances Clause in Contracts

Cash Collateral, Repayment of Swing Line Advances. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, at the Borrower’s election, (A) prepay Swing Line Advances in an amount equal to the Swing Line Banks’ Fronting Exposure or (B) Cash Collateralize the Swing Line Banks’ Fronting Exposure in accordance with the procedures set forth in Section 2.25 and (y) second, Cash Collateralize the LC Issuing Banks’ Fronting Exposure in accordance with the procedures set forth in Section 2.25.

Appears in 4 contracts

Samples: Credit Agreement (American Water Works Company, Inc.), Credit Agreement (American Water Works Company, Inc.), Credit Agreement (American Water Works Company, Inc.)

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Cash Collateral, Repayment of Swing Line Advances. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, within three (3) Business Days following the written request of the (i) Agent or (ii) Swing Line Bank or any Issuing Bank, as applicable (with a copy to the Agent), (x) first, at the Borrower’s election, (A) prepay Swing Line Advances in an amount equal to the Swing Line Banks’ Bank’s Fronting Exposure or (B) Cash Collateralize the Swing Line Banks’ Fronting Exposure in accordance with the procedures set forth in Section 2.25 and (y) second, Cash Collateralize the LC Issuing Banks’ Fronting Exposure in accordance with the procedures set forth in Section 2.252.19.

Appears in 3 contracts

Samples: Credit Agreement (Hexcel Corp /De/), Credit Agreement (Hexcel Corp /De/), Credit Agreement (Dollar Tree Inc)

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Cash Collateral, Repayment of Swing Line Advances. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under lawLegal Requirement, (x) firstas to Swing Line Advances, at the Borrower’s election, (A) prepay Swing Line Advances in an amount equal to the Swing Line Banks’ Lender’s Fronting Exposure or (B) Cash Collateralize the Swing Line Banks’ Lender’s Fronting Exposure consistent with the procedures set forth in Section 2.2(i), and (y) as to Letters of Credit, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 2.25 and (y) second, Cash Collateralize the LC Issuing Banks’ Fronting Exposure in accordance with the procedures set forth in Section 2.252.2(i).

Appears in 1 contract

Samples: Credit Agreement (Oceaneering International Inc)

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