Common use of Cash Collateralization of Letters of Credit Clause in Contracts

Cash Collateralization of Letters of Credit. Subject to the Common Terms Agreement and the Common Security and Account Agreement: (a) Amounts held in the XX Xxxx Collateral Account shall be the property of the Working Capital Facility Agent for the benefit of the Issuing Banks and Working Capital Lenders and shall be applied by the Working Capital Facility Agent to the repayment of LC Loans deemed made under any Letters of Credit. (b) The balance, if any, in the XX Xxxx Collateral Account, after (x) all Letters of Credit shall have expired or been fully drawn upon and (y) giving effect to the payment of any LC Loans pursuant to Section 9.05(a) (Cash Collateralization of Letters of Credit), shall be applied to repay the other Working Capital Obligations according to Section 9.06 (Application of Proceeds).

Cash Collateralization of Letters of Credit. Subject to the Common Terms Agreement and the Common Security and Account Agreement: (a) Amounts held in the XX Xxxx Collateral Account shall be the property of the Working Capital Facility Agent for the benefit of the Issuing Banks and Working Capital Lenders and shall be applied by the Working Capital Facility Agent to the repayment of LC Loans deemed made under any Letters of Credit. (b) The balance, if any, in the XX Xxxx Collateral Account, after (x) all Letters of Credit shall have expired or been fully drawn upon and (y) giving effect to the payment of any LC Loans pursuant to Section 9.05(a) (Cash Collateralization of Letters of Credit), shall be applied to repay the other Working Capital Obligations according to Section 9.06 (Application of Proceeds).

Cash Collateralization of Letters of Credit. Subject to the Common Terms Agreement and the Common Security and Account Agreement: (a) Amounts held in the XX Xxxx Collateral Account shall be the property of the Working Capital Facility Agent for the benefit of the Issuing Banks and Working Capital Lenders and shall be applied by the Working Capital Facility Agent to the repayment of LC Loans deemed made under any Letters of Credit. (b) The balance, if any, in the XX Xxxx Collateral Account, after (x) all Letters of Credit shall have expired or been fully drawn upon and (y) giving effect to the payment of any LC Loans pursuant to Section 9.05(a) (Cash Collateralization of Letters of Credit), shall be applied to repay the other Working Capital Obligations according to Section 9.06 (Application Applications of Proceeds).