Common use of Cash Cover Clause in Contracts

Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of the Banks having at least 66 2/3% in the aggregate amount of the Commitments (or, if the Commitments shall have been terminated, holding at least 66 2/3% of the Letter of Credit Liabilities), deposit with the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the Borrower) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time; provided that, upon the occurrence of any Event of Default specified in Section 6.01(g) or 6.01(h) with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banks.

Appears in 4 contracts

Samples: Credit Agreement (Duke Energy CORP), Credit Agreement (Duke Energy Corp), Credit Agreement (Duke Energy Corp)

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Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of the Banks having at least 66 2/3% in the aggregate amount of the Commitments (or, if the Commitments shall have been terminated, holding at least 66 2/3% of the Letter of Credit Liabilities), deposit with pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the BorrowerAgent) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time; provided , PROVIDED that, upon the occurrence of any Event of Default specified in Section 6.01(g) or 6.01(h) with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banks.

Appears in 3 contracts

Samples: Credit Agreement (Duke Capital Corp), Credit Agreement (Duke Energy Corp), Credit Agreement (Duke Energy Corp)

Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of the Banks Lenders having at least 66 2/3more than 50% in the aggregate amount of the Revolving Facility Commitments (or, if the Revolving Facility Commitments shall have been terminated, holding at least 66 2/350% of the Letter of Credit LiabilitiesObligations), deposit with pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the Borrower) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time, and such funds shall be held as collateral pursuant to arrangements satisfactory to the Administrative Agent; provided that, upon the occurrence of any Event of Default specified in clause (f) of Section 6.01(g) or 6.01(h) 6.01 with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banksany Lender.

Appears in 2 contracts

Samples: Credit Agreement (Young Broadcasting Inc /De/), Credit Agreement (Young Broadcasting Inc /De/)

Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 6.01(d) hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Documentation Agent upon the instruction of the Banks having at least 66 2/3% in the aggregate amount of the Commitments (or, if the Commitments shall have been terminated, holding at least 66 2/3% of the Letter of Credit Liabilities), deposit with pay to the Administrative Documentation Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the BorrowerDocumentation Agent) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time; provided , PROVIDED that, upon the occurrence of any Event of Default specified in Section 6.01(g) or 6.01(h) with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative any Agent or the BanksBank.

Appears in 1 contract

Samples: Credit Agreement (Blyth Industries Inc)

Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 6.1 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of the Banks having at least 66 2/3more than 60% in the aggregate amount of the Commitments (or, if the Commitments shall have been terminated, holding at least 66 2/360% of the Letter of Credit Liabilities), deposit with upon five days' notice, pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually reasonably satisfactory to the Administrative Agent and the BorrowerAgent) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time; , provided that, upon the occurrence of any Event of Default specified in Section 6.01(gclause (g) or 6.01(h(h) of Section 6.1 with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banks.

Appears in 1 contract

Samples: Credit Agreement (Cisco Systems Inc)

Cash Cover. The Borrower agrees, in addition to the ---------- provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of the Banks Lenders having at least 66 2/3more than 50% in the aggregate amount of the Revolving Facility Commitments (or, if the Revolving Facility Commitments shall have been terminated, holding at least 66 2/350% of the Letter of Credit LiabilitiesObligations), deposit with pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the Borrower) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time, and such funds shall be held as collateral pursuant to arrangements satisfactory to the Administrative Agent); provided that, upon the occurrence of any Event of -------- Default specified in clause (f) of Section 6.01(g) or 6.01(h) 6.01 with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banksany Lender.

Appears in 1 contract

Samples: Credit Agreement (Young Broadcasting Inc /De/)

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Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the ---- continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the 121 instruction of the Banks Lenders having at least 66 2/3more than 50% in the aggregate amount of the Revolving Facility Commitments (or, if the Revolving Facility Commitments shall have been terminated, holding at least 66 2/350% of the Letter of Credit LiabilitiesObligations), deposit with pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the Borrower) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time, and such funds shall be held as collateral pursuant to arrangements satisfactory to the Administrative Agent; provided that, upon the occurrence of any Event of Default specified in clause (f) of Section 6.01(g) or 6.01(h) 6.01 with respect to the Borrower, the Borrower shall pay ---- such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banksany Lender.

Appears in 1 contract

Samples: Credit Agreement (Young Broadcasting Inc /De/)

Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of the Banks Lenders having at least 66 2/3more than 50% in the aggregate amount of the Revolving Commitments (or, if the Revolving Commitments shall have been terminated, holding at least 66 2/3more than 50% of the aggregate Letter of Credit Liabilities), deposit with pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the BorrowerAgent) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time; , provided that, upon the occurrence of any Event of Default specified in Section 6.01(g) or 6.01(h) with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative any Agent or the BanksLenders.

Appears in 1 contract

Samples: Credit Agreement (Exide Electronics Group Inc)

Cash Cover. The Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of the Banks having at least 66 2/3% in the aggregate amount of the Commitments (or, if the Commitments shall have been terminated, holding at least 66 2/3% of the Letter of Credit Liabilities), deposit with the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements mutually satisfactory to the Administrative Agent and the Borrower) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time; , provided that, upon the occurrence of any Event of Default specified in Section 6.01(g6.01 (g) or 6.01(h6.01 (h) with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banks.

Appears in 1 contract

Samples: Credit Agreement (Duke Energy Corp)

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