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

Cash Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, (A) the US Borrowers shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, repay Swingline Loans in an amount equal to the Swingline Lenders’ Fronting Exposure and (y) second, Cash Collateralize the Issuing Lenders’ Fronting Exposure in accordance with the procedures set forth in Section 2.19 and (B) the Canadian Borrower shall, with respect to any Canadian Letter of Credit and without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the Issuing Lender’s risk with respect to the Defaulting Lender in accordance with Section 2.19.

Appears in 3 contracts

Samples: Credit Agreement (Silgan Holdings Inc), Credit Agreement (Silgan Holdings Inc), Credit Agreement (Silgan Holdings Inc)

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Cash Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, (A) the US Borrowers shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, repay Swingline Loans in an amount equal to the Swingline Lenders’ Fronting Exposure and (y) second, Cash Collateralize the Issuing Lenders’ Fronting Exposure in accordance with the procedures set forth in Section 2.19 and (B) the Canadian Borrower Borrowers shall, with respect to any Canadian Letter of Credit and without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the Issuing LenderXxxxxx’s risk with respect to the Defaulting Lender in accordance with Section 2.19.

Appears in 1 contract

Samples: Credit Agreement (Silgan Holdings Inc)

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Cash Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, (A) the US Borrowers shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, repay Swingline Loans in an amount equal to the Swingline Lenders’ Fronting Exposure and (y) second, Cash Collateralize the Issuing Lenders’ Fronting Exposure in accordance with the procedures set forth in Section 2.19 and (B) the Canadian Borrower BorrowerBorrowers shall, with respect to any Canadian Letter of Credit and without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the Issuing Lender’s risk with respect to the Defaulting Lender in accordance with Section 2.19.

Appears in 1 contract

Samples: Credit Agreement (Silgan Holdings Inc)

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