Common use of Cash Collateral, Repayment of Swingline Loans Clause in Contracts

Cash Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iii) above cannot, or can only partially, be effected, the Borrower shall not later than two Business Days after demand by the Administrative Agent (at the direction of any Issuing Bank and/or any Swingline Lender), without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay such Defaulting Lender’s Swingline Exposure and second, Cash Collateralize each Issuing Bank’s Fronting Exposure in accordance with the procedures set forth in Section 2.19(d) or (y) make other arrangements reasonably satisfactory to the Administrative Agent, the Issuing Banks and the Swingline Lenders in their sole discretion to protect them against the risk of non-payment by such Defaulting Lender.

Cash Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iii) above cannot, or can only partially, be effected, the Borrower shall not later than two (2) Business Days after demand by the Administrative Agent (at the direction of any the Issuing Bank and/or any the Swingline Lender), without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay such Defaulting Swingline Loans in an amount equal to the Swingline Lender’s Swingline Exposure and (y) second, Cash Collateralize each the Issuing Bank’s Fronting Exposure in accordance with the procedures set forth in Section 2.19(d2.18(d) or (yz) make other arrangements reasonably satisfactory to the Administrative Agent, the Issuing Banks Bank and the Swingline Lenders Lender in their sole discretion to protect them against the risk of non-payment by such Defaulting Lender.