Common use of Collateral Letters of Credit Clause in Contracts

Collateral Letters of Credit. With respect to any Collateral Letter of Credit which Borrower may furnish or cause to be furnished to Administrative Agent in accordance with the terms of this Agreement or any of the other Loan Documents: (1) Administrative Agent will be entitled, among other things, to make one or more draws by presentment thereof to the issuing bank accompanied only by Administrative Agent’s clean sight-draft, it being intended that the issuing bank shall have no right to inquire as to Administrative Agent’s right to draw upon such Collateral Letter of Credit; (2) Administrative Agent shall be entitled, among other things, to draw upon each Collateral Letter of Credit, in whole, or in part from time to time, upon the occurrence and during the continuance of any Event of Default or under the other circumstances under which a draw shall be permitted under the Loan Documents or the Collateral Letter of Credit; (3) Administrative Agent shall have the right to draw upon any Collateral Letter of Credit within thirty (30) days prior to the expiration date of such Collateral Letter of Credit and each renewal and extension thereof unless, at least thirty (30) days prior to such expiration date of such Collateral Letter of Credit and each renewal and extension thereof, Borrower shall have furnished a replacement, extension or renewal Collateral Letter of Credit, acceptable to Administrative Agent, it being the intent hereof that at no time shall the unexpired term of any Collateral Letter of Credit be less than thirty (30) days. If Administrative Agent draws upon a Collateral Letter of Credit pursuant to the terms of this subsection (3), then Administrative Agent shall hold the proceeds thereof in the Additional Cash Collateral Account as additional collateral for the Obligations, to be applied in accordance with subsections (4) and (5) below. (4) Administrative Agent shall also be entitled to draw upon a Collateral Letter of Credit if Administrative Agent believes that its rights to draw on such Collateral Letter of Credit could be in jeopardy. Without limiting the foregoing, Administrative Agent shall also be entitled to draw on a Collateral Letter of Credit if the credit rating or financial condition of the issuing bank is no longer meets the minimum rating contained in the definition of Collateral Letter of Credit. Following a draw by Administrative Agent on a Collateral Letter of Credit solely because of the deterioration of the creditworthiness of the issuing bank, Administrative Agent will deposit such proceeds in the Additional Cash Collateral Account as security for the purposes for which such Letter of Credit was delivered and Administrative Agent shall be entitled to draw upon such proceeds to the same extent it would have been entitled to make a draw under the applicable Letter of Credit. Administrative Agent shall direct the Depository Bank to disburse such proceeds to Borrower provided (i) Borrower delivers to Administrative Agent a replacement Collateral Letter of Credit within ten (10) days of Administrative Agent’s draw, (ii) there exists no Event of Default or Potential Default, and (iii) Borrower pays all of Administrative Agent’s fees and expenses in connection with such draw and disbursement. (5) No draw by Administrative Agent on any Collateral Letter of Credit shall cure or be deemed to cure any Event of Default or limit in any respect any of Administrative Agent’s or the Lenders’ remedies under the Loan Documents, it being understood that Administrative Agent’s and the Lenders’ rights and remedies hereunder shall be cumulative and Administrative Agent and the Lenders shall have no obligations to apply the proceeds of any draw to missed installments or other amounts then due and unpaid under the Loans. Proceeds of any draw upon a Collateral Letter of Credit (after reimbursement of any costs and expenses, including attorneys’ fees and reimbursements, incurred by Administrative Agent in connection with such draw) may be applied by Administrative Agent to the payment of the Loans in such manner as Administrative Agent may determine. No delay or omission of Administrative Agent or the Lenders in exercising any right to draw on a Collateral Letter of Credit shall impair any such right, or shall be construed as a waiver of, or acquiescence in, any Event of Default. (6) Administrative Agent shall, upon request, release its rights in any Collateral Letters of Credit and surrender such Collateral Letters of Credit to the issuing bank upon the payment in full of all Loans.

Collateral Letters of Credit. With respect to any Collateral Letter of Credit which Borrower may furnish (a) On or cause to be furnished to Administrative Agent in accordance with the terms of this Agreement or any of the other Loan Documents: (1) Administrative Agent will be entitled, among other things, to make one or more draws by presentment thereof to the issuing bank accompanied only by Administrative Agent’s clean sight-draft, it being intended that the issuing bank shall have no right to inquire as to Administrative Agent’s right to draw upon such Collateral Letter of Credit; (2) Administrative Agent shall be entitled, among other things, to draw upon each Collateral Letter of Credit, in whole, or in part from time to time, upon the occurrence and during the continuance of any Event of Default or under the other circumstances under which a draw shall be permitted under the Loan Documents or the Collateral Letter of Credit; (3) Administrative Agent shall have the right to draw upon any Collateral Letter of Credit within thirty (30) days prior to the expiration date each of such Collateral Letter of Credit September 1, 2013, March 1, 2014 and each renewal and extension thereof unlessSeptember 1, at least thirty (30) days prior to such expiration date of such Collateral Letter of Credit and each renewal and extension thereof2014, Borrower shall have furnished a replacement, extension or renewal Collateral Letter of Credit, acceptable to Administrative Agent, it being the intent hereof that at no time shall the unexpired term of any Collateral Letter of Credit be less than thirty (30) days. If Administrative Agent draws upon provide a Collateral Letter of Credit pursuant to Lender (i.e., so that on September 1, 2014, the terms aggregate amount of all Collateral Letters of Credit provided to Lender under this subsection Section 16.2(a) shall equal Thirty Million Dollars (3$30,000,000)), then Administrative Agent which Collateral Letters of Credit shall hold the proceeds thereof in the Additional Cash Collateral Account serve as additional collateral for the Obligations, to Loan and shall be applied drawn upon as provided in accordance with subsections (4) and (5) below. (4) Administrative Agent shall also be entitled to draw upon a Collateral Letter of Credit if Administrative Agent believes that its rights to draw on such Collateral Letter of Credit could be in jeopardy. Without limiting the foregoing, Administrative Agent shall also be entitled to draw on a Collateral Letter of Credit if the credit rating this Section 16.2 or financial condition of the issuing bank is no longer meets the minimum rating contained in the definition of Collateral "Letter of Credit. Following a draw by Administrative Agent ", as applicable. (b) Upon (i) the occurrence of an Event of Default or (ii) the failure of Borrower to repay the entire Indebtedness on a Collateral Letter of Credit solely because of or prior to the deterioration of the creditworthiness of the issuing bankAnticipated Repayment Date, Administrative Agent will deposit such proceeds in the Additional Cash Collateral Account as security for the purposes for which such Letter of Credit was delivered and Administrative Agent Lender shall be entitled to draw upon such proceeds to the same extent it would have been entitled to make down on all or a draw under the applicable Letter of Credit. Administrative Agent shall direct the Depository Bank to disburse such proceeds to Borrower provided (i) Borrower delivers to Administrative Agent a replacement Collateral Letter of Credit within ten (10) days of Administrative Agent’s draw, (ii) there exists no Event of Default or Potential Default, and (iii) Borrower pays all of Administrative Agent’s fees and expenses in connection with such draw and disbursement. (5) No draw by Administrative Agent on any Collateral Letter of Credit shall cure or be deemed to cure any Event of Default or limit in any respect any of Administrative Agent’s or the Lenders’ remedies under the Loan Documents, it being understood that Administrative Agent’s and the Lenders’ rights and remedies hereunder shall be cumulative and Administrative Agent and the Lenders shall have no obligations to apply the proceeds of any draw to missed installments or other amounts then due and unpaid under the Loans. Proceeds of any draw upon a Collateral Letter of Credit (after reimbursement of any costs and expenses, including attorneys’ fees and reimbursements, incurred by Administrative Agent in connection with such draw) may be applied by Administrative Agent to the payment portion of the Loans in such manner as Administrative Agent may determine. No delay or omission of Administrative Agent or the Lenders in exercising any right to draw on a Collateral Letter of Credit shall impair any such right, or shall be construed as a waiver of, or acquiescence in, any Event of Default. (6) Administrative Agent shall, upon request, release its rights in any Collateral Letters of Credit and apply the proceeds therefrom against any portion of the Indebtedness or any shortfall in principal or interest payments required to be made under the Note and, in the case of any failure of Borrower to repay the entire Indebtedness on or prior to the Anticipated Repayment Date, Lender may draw down on any of Collateral Letters of Credit and apply the same on each Payment Date as a partial prepayment of the outstanding principal Indebtedness. Notwithstanding anything to the contrary contained herein, if after the earlier to occur of (x) the expiration of the Tranche 2 Surrender Notice Period (as defined in the Citibank Lease), (y) the date on which the Citibank Tenant exercises its option to surrender space which results in 100% of the Surrender Space (as defined in the Citibank Lease) which the Citibank Tenant is entitled to surrender during the Tranche 2 Surrender Notice Period (as defined in the Citibank Lease) being surrendered, whether pursuant to the Existing Citibank Lease or the Amended and Restated Lease, and (z) the Citibank Tenant waiving any further right to surrender space under such Sections, all of the Collateral Letter of Credit Release Conditions have been satisfied, then Lender shall (A) return the Collateral Letters of Credit to Borrower along with a letter to the issuing bank upon thereof canceling 100 1) to the payment in full Borrower's Account or as Borrower may otherwise direct. For purposes of all Loans.this Section 16.2(b), the term "Collateral Letter of Credit Release Conditions" means, collectively, the following conditions:

Collateral Letters of Credit. With respect to any Collateral Letter of Credit which that Borrower may furnish or cause to be furnished to Administrative Agent in accordance with the terms of this Agreement or any of the other Loan Documents: (1) Administrative Agent will be entitled, among other things, to make one or more draws by presentment thereof to the issuing bank accompanied only by Administrative Agent’s clean sight-draft, it being intended that the issuing bank shall have no right to inquire as to Administrative Agent’s right to draw upon such Collateral Letter of Credit; (2) Administrative Agent shall be entitled, among other things, to draw upon each Collateral Letter of Credit, in whole, or in part from time to time, upon the occurrence and during the continuance of any Event of Default or under the other circumstances under which a draw shall be permitted under the Loan Documents or the Collateral Letter of Credit; (3) Administrative Agent shall have the right to draw upon any Collateral Letter of Credit within thirty (30) days prior to the expiration date of such Collateral Letter of Credit and each renewal and extension thereof unless, at least thirty (30) days prior to such expiration date of such Collateral Letter of Credit and each renewal and extension thereof, the Borrower shall have furnished a replacement, extension or renewal Collateral Letter of Credit, acceptable to Administrative Agent, it being the intent hereof that at no time shall the unexpired term of any Collateral Letter of Credit be less than thirty (30) days. If Administrative Agent draws upon a Collateral Letter of Credit pursuant to the terms of this subsection (3), then Administrative Agent shall hold the proceeds thereof in the Additional Cash Collateral a Controlled Account as additional collateral for the Obligations, to be applied in accordance with subsections (4) and subsection (5) below.; (4) Administrative Agent shall also be entitled to draw upon a Collateral Letter of Credit if Administrative Agent believes that its rights to draw on such Collateral Letter of Credit could be in jeopardy. Without limiting the foregoing, Administrative Agent shall also be entitled to draw on a Collateral Letter of Credit if the credit rating or financial condition of the issuing bank is no longer meets the minimum rating contained in the definition of Collateral Letter of Credit. Following a draw by Administrative Agent on a Collateral Letter of Credit solely because of the deterioration of the creditworthiness of the issuing bank, Administrative Agent will deposit such proceeds in the Additional Cash Collateral a Controlled Account as security for the purposes for which such Letter of Credit was delivered and Administrative Agent shall be entitled to draw upon such proceeds to the same extent it would have been entitled to make a draw under the applicable Letter of Credit. Administrative Agent shall direct the Depository Bank to disburse such proceeds to Lead Borrower provided (i) Borrower delivers to Administrative Agent a replacement Collateral Letter of Credit within ten (10) days of Administrative Agent’s draw, (ii) there exists no Event of Default or Potential Default, Default and (iii) Borrower pays all of Administrative Agent’s fees and expenses in connection with such draw and disbursement.; (5) No draw by Administrative Agent on any Collateral Letter of Credit shall cure or be deemed to cure any Event of Default or limit in any respect any of Administrative Agent’s or the Lenders’ remedies under the Loan Documents, it being understood that Administrative Agent’s and the Lenders’ rights and remedies hereunder shall be cumulative and Administrative Agent and the Lenders shall have no obligations to apply the proceeds of any draw to missed installments or other amounts then due and unpaid under the Loans. Proceeds of any draw upon a Collateral Letter of Credit (after reimbursement of any costs and expenses, including attorneys’ fees and reimbursements, incurred by Administrative Agent in connection with such draw) ), other than a draw made in accordance with Section 9.14(4), may be applied by Administrative Agent to the payment of the Loans Obligations in such manner as Administrative Agent may determine. No delay or omission of Administrative Agent or the Lenders in exercising any right to draw on a Collateral Letter of Credit shall impair any such right, or shall be construed as a waiver of, or acquiescence in, any Event of Default.; and (6) Administrative Agent shall, upon request, release its rights in any Collateral Letters of Credit and surrender such Collateral Letters of Credit to the issuing bank upon the payment in full of all Loansobligations under the Loan Documents.

Collateral Letters of Credit. With respect to any Collateral Letter of Credit which Borrower may furnish or cause to be furnished to Administrative Agent in accordance with the terms of this Agreement or any of the other Loan Documents: (1) Administrative Agent will be entitled, among other things, to make one or more draws by presentment thereof to the issuing bank accompanied only by Administrative Agent’s 's clean sight-draft, it being intended that the issuing bank shall have no right to inquire as to Administrative Agent’s 's right to draw upon such Collateral Letter of Credit; (2) Administrative Agent shall be entitled, among other things, to draw upon each Collateral Letter of Credit, in whole, or in part from time to time, upon the occurrence and during the continuance of any Event of Default or under the other circumstances under which a draw shall be permitted under the Loan Documents or the Collateral Letter of Credit; (3) Administrative Agent shall have the right to draw upon any Collateral Letter of Credit within thirty (30) days prior to the expiration date of such Collateral Letter of Credit and each renewal and extension thereof unless, at least thirty (30) days prior to such expiration date of such Collateral Letter of Credit and each renewal and extension thereof, Borrower shall have furnished a replacement, extension or renewal Collateral Letter of Credit, acceptable to Administrative Agent, it being the intent hereof that at no time shall the unexpired term of any Collateral Letter of Credit be less than thirty (30) days. If Administrative Agent draws upon a Collateral Letter of Credit pursuant to the terms of this subsection (3), then Administrative Agent shall hold the proceeds thereof in the Additional Cash Collateral Account as additional collateral for all obligations under this Agreement and the Obligationsother Loan Documents, to be applied in accordance with subsections (4) and (5) below. (4) Administrative Agent shall also be entitled to draw upon a Collateral Letter of Credit if Administrative Agent believes that its rights to draw on such Collateral Letter of Credit could be in jeopardy. Without limiting the foregoing, Administrative Agent shall also be entitled to draw on a Collateral Letter of Credit if the credit rating or financial condition of the issuing bank is no longer meets the minimum rating contained in the definition of Collateral Letter of Credit. Following a draw by Administrative Agent on a Collateral Letter of Credit solely because of the deterioration of the creditworthiness of the issuing bank, Administrative Agent will deposit such proceeds in the Additional Cash Collateral Account as security for the purposes for which such Letter of Credit was delivered and Administrative Agent shall be entitled to draw upon such proceeds to the same extent it would have been entitled to make a draw under the applicable Letter of Credit. Administrative Agent shall direct the Depository Bank to disburse such proceeds to Borrower provided . (i) Borrower delivers to Administrative Agent a replacement Collateral Letter of Credit within ten (10) days of Administrative Agent’s 's draw, (ii) there exists no Event of Default or Potential Default, and (iii) Borrower pays all of Administrative Agent’s 's fees and expenses in connection with such draw and disbursement. (5) No draw by Administrative Agent on any Collateral Letter of Credit shall cure or be deemed to cure any Event of Default or limit in any respect any of Administrative Agent’s 's or the Lenders’ ' remedies under the Loan Documents, it being understood that Administrative Agent’s 's and the Lenders’ ' rights and remedies hereunder shall be cumulative and Administrative Agent and the Lenders shall have no obligations to apply the proceeds of any draw to missed installments or other amounts then due and unpaid under the Loans. Proceeds of any draw upon a Collateral Letter of Credit (after reimbursement of any costs and expenses, including attorneys’ ' fees and reimbursements, incurred by Administrative Agent in connection with such draw) may be applied by Administrative Agent to the payment of the Loans in such manner as Administrative Agent may determine. No delay or omission of Administrative Agent or the Lenders in exercising any right to draw on a Collateral Letter of Credit shall impair any such right, or shall be construed as a waiver of, or acquiescence in, any Event of Default. (6) Administrative Agent shall, upon request, release its rights in any Collateral Letters of Credit and surrender such Collateral Letters of Credit to the issuing bank upon the payment in full of all Loans.

Collateral Letters of Credit. With respect to any Collateral Letter Letters of Credit which Borrower may furnish or cause to be furnished to Administrative Agent Lender in accordance with the terms of this Agreement or any of the other Loan DocumentsSection 10.5: (1a) Administrative Agent Lender will be entitled, among other things, to make one or more draws pursuant to this Agreement by presentment thereof to the issuing bank accompanied only by Administrative Agent’s Lender's clean sight-draft, it being intended that the issuing bank shall have no right to inquire as to Administrative Agent’s Lender's right to draw upon such Collateral Letter of Credit; (2b) Administrative Agent Lender shall be entitled, among other things, entitled to draw upon each any Collateral Letter of CreditCredit delivered pursuant to this Section 10.5, in whole, whole or in part from time to time, upon the occurrence and during the continuance of to pay any Event of Default or sums due under the other circumstances under Xxxxxx & Xxxxxxx U.S. Bank Tower Lease Takeover Agreement which a draw shall be permitted under the Loan Documents or the Collateral Letter of Credit;are not paid when due; and (3c) Administrative Agent Lender shall have the right to draw upon any Collateral Letter of Credit within thirty ten (3010) days Business Days prior to the expiration date of such Collateral Letter of Credit and each or any renewal and or extension thereof unless, at least thirty (30) days prior to such expiration date of such Collateral Letter of Credit and each Credit, renewal and extension thereofor extension, Borrower shall have furnished a replacement, extension or renewal Collateral Letter of Credit, acceptable to Administrative AgentLender, it being the intent hereof that at no time shall the unexpired term of any required Collateral Letter of Credit be less than thirty ten (3010) daysBusiness Days. If Administrative Agent Lender draws upon a Collateral Letter of Credit pursuant to the terms of this subsection (3)hereof, then Administrative Agent Lender shall hold the proceeds thereof in the Additional Cash Collateral a Controlled Account as additional collateral for the Obligations, to be applied in accordance with subsections (4) and (5) below. (4) Administrative Agent cash collateral. Lender shall also be entitled to draw upon a Collateral Letter of Credit if Administrative Agent the credit rating of the issuing bank no longer meets the standard required under the definition of “Collateral Letter of Credit” and Borrower does not deliver to Lender a replacement letter of credit that otherwise conforms to the requirements for Collateral Letters of Credit within ten (10) Business Days following notice of the same from Lender, or if Lender reasonably believes that its rights to draw on such Collateral Letter of Credit could be are in jeopardy. Without limiting the foregoing, Administrative Agent shall also be entitled to draw on a Collateral Letter imminent jeopardy of Credit if the credit rating or financial condition of the issuing bank is no longer meets the minimum rating contained in the definition of Collateral Letter of Credit. Following a draw by Administrative Agent on a Collateral Letter of Credit solely because of the deterioration of the creditworthiness of the issuing bank, Administrative Agent will deposit such proceeds in the Additional Cash Collateral Account as security for the purposes for which such Letter of Credit was delivered and Administrative Agent shall be entitled to draw upon such proceeds to the same extent it would have been entitled to make a draw under the applicable Letter of Credit. Administrative Agent shall direct the Depository Bank to disburse such proceeds to Borrower provided (i) Borrower delivers to Administrative Agent a replacement Collateral Letter of Credit within ten (10) days of Administrative Agent’s draw, (ii) there exists no Event of Default or Potential Default, and (iii) Borrower pays all of Administrative Agent’s fees and expenses in connection with such draw and disbursementnot being honored. (5) No draw by Administrative Agent on any Collateral Letter of Credit shall cure or be deemed to cure any Event of Default or limit in any respect any of Administrative Agent’s or the Lenders’ remedies under the Loan Documents, it being understood that Administrative Agent’s and the Lenders’ rights and remedies hereunder shall be cumulative and Administrative Agent and the Lenders shall have no obligations to apply the proceeds of any draw to missed installments or other amounts then due and unpaid under the Loans. Proceeds of any draw upon a Collateral Letter of Credit (after reimbursement of any costs and expenses, including attorneys’ fees and reimbursements, incurred by Administrative Agent in connection with such draw) may be applied by Administrative Agent to the payment of the Loans in such manner as Administrative Agent may determine. No delay or omission of Administrative Agent or the Lenders in exercising any right to draw on a Collateral Letter of Credit shall impair any such right, or shall be construed as a waiver of, or acquiescence in, any Event of Default. (6) Administrative Agent shall, upon request, release its rights in any Collateral Letters of Credit and surrender such Collateral Letters of Credit to the issuing bank upon the payment in full of all Loans.

Collateral Letters of Credit. With respect to any Collateral Letter Letters of Credit which Borrower may furnish or cause to be furnished to Administrative Agent Lender in accordance with the terms of this Agreement or any of the other Loan DocumentsSection 10.5: (1a) Administrative Agent Lender will be entitled, among other things, to make one or more draws pursuant to this Agreement by presentment thereof to the issuing bank accompanied only by Administrative AgentLender’s clean sight-draft, it being intended that the issuing bank shall have no right to inquire as to Administrative AgentLender’s right to draw upon such Collateral Letter of Credit; (2b) Administrative Agent Lender shall be entitled, among other things, entitled to draw upon each any Collateral Letter of CreditCredit delivered pursuant to this Section 10.5, in whole, whole or in part from time to time, upon the occurrence and during the continuance of to pay any Event of Default or sums due under the other circumstances under Xxxxxx & Xxxxxxx U.S. Bank Tower Lease Takeover Agreement which a draw shall be permitted under the Loan Documents or the Collateral Letter of Credit;are not paid when due; and (3c) Administrative Agent Lender shall have the right to draw upon any Collateral Letter of Credit within thirty ten (3010) days Business Days prior to the expiration date of such Collateral Letter of Credit and each or any renewal and or extension thereof unless, at least thirty (30) days prior to such expiration date of such Collateral Letter of Credit and each Credit, renewal and extension thereofor extension, Borrower shall have furnished a replacement, extension or renewal Collateral Letter of Credit, acceptable to Administrative AgentLender, it being the intent hereof that at no time shall the unexpired term of any required Collateral Letter of Credit be less than thirty ten (3010) daysBusiness Days. If Administrative Agent Lender draws upon a Collateral Letter of Credit pursuant to the terms of this subsection (3)hereof, then Administrative Agent Lender shall hold the proceeds thereof in the Additional Cash Collateral a Controlled Account as additional collateral for the Obligations, to be applied in accordance with subsections (4) and (5) below. (4) Administrative Agent cash collateral. Lender shall also be entitled to draw upon a Collateral Letter of Credit if Administrative Agent the credit rating of the issuing bank no longer meets the standard required under the definition of “Collateral Letter of Credit” and Borrower does not deliver to Lender a replacement letter of credit that otherwise conforms to the requirements for Collateral Letters of Credit within ten (10) Business Days following notice of the same from Lender, or if Lender reasonably believes that its rights to draw on such Collateral Letter of Credit could be are in jeopardy. Without limiting the foregoing, Administrative Agent shall also be entitled to draw on a Collateral Letter imminent jeopardy of Credit if the credit rating or financial condition of the issuing bank is no longer meets the minimum rating contained in the definition of Collateral Letter of Credit. Following a draw by Administrative Agent on a Collateral Letter of Credit solely because of the deterioration of the creditworthiness of the issuing bank, Administrative Agent will deposit such proceeds in the Additional Cash Collateral Account as security for the purposes for which such Letter of Credit was delivered and Administrative Agent shall be entitled to draw upon such proceeds to the same extent it would have been entitled to make a draw under the applicable Letter of Credit. Administrative Agent shall direct the Depository Bank to disburse such proceeds to Borrower provided (i) Borrower delivers to Administrative Agent a replacement Collateral Letter of Credit within ten (10) days of Administrative Agent’s draw, (ii) there exists no Event of Default or Potential Default, and (iii) Borrower pays all of Administrative Agent’s fees and expenses in connection with such draw and disbursementnot being honored. (5) No draw by Administrative Agent on any Collateral Letter of Credit shall cure or be deemed to cure any Event of Default or limit in any respect any of Administrative Agent’s or the Lenders’ remedies under the Loan Documents, it being understood that Administrative Agent’s and the Lenders’ rights and remedies hereunder shall be cumulative and Administrative Agent and the Lenders shall have no obligations to apply the proceeds of any draw to missed installments or other amounts then due and unpaid under the Loans. Proceeds of any draw upon a Collateral Letter of Credit (after reimbursement of any costs and expenses, including attorneys’ fees and reimbursements, incurred by Administrative Agent in connection with such draw) may be applied by Administrative Agent to the payment of the Loans in such manner as Administrative Agent may determine. No delay or omission of Administrative Agent or the Lenders in exercising any right to draw on a Collateral Letter of Credit shall impair any such right, or shall be construed as a waiver of, or acquiescence in, any Event of Default. (6) Administrative Agent shall, upon request, release its rights in any Collateral Letters of Credit and surrender such Collateral Letters of Credit to the issuing bank upon the payment in full of all Loans.