Common use of Corresponding Payment Clause in Contracts

Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Loans and L/C Obligations, as applicable, after such reduction to the Commitments as so reduced and if the aggregate amount of all outstanding Letters of Credit exceeds the Commitments as so reduced, the Borrower shall be required to deposit Cash Collateral into a Cash Collateral account opened by the Administrative Agent, for the benefit of the Lenders, in an amount equal to such excess. Such Cash Collateral shall be applied in accordance with Section 10.2(b). Any reduction of the Commitments to zero shall be accompanied by payment of all outstanding Loans (and furnishing of Cash Collateral in an amount equal to 103% of all L/C Obligations) and shall result in the termination of the Commitments and the Credit Facility. If the reduction of the Commitments requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Loans and L/C Obligations, as applicable, after such reduction to the Commitments as so reduced and if the aggregate amount of all outstanding Letters of Credit exceeds the Commitments as so reduced, the Borrower shall be required to deposit Cash Collateral into in a Cash Collateral account opened by the Administrative Agent, for the benefit of the Lenders, Agent in an amount equal to such excess. Such Cash Collateral shall be applied in accordance with Section 10.2(b). Any reduction of the Commitments to zero shall be accompanied by payment of all outstanding Loans (and furnishing of Cash Collateral in an amount equal to 103% of all L/C Obligations) and shall result in the termination of the Commitments and the Credit Facility. If the reduction of the Commitments requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Loans and L/C Obligations, as applicable, after such reduction to the Commitments as so reduced reduced, and if the aggregate amount of all outstanding Letters of Credit exceeds the aggregate Commitments as so reduced, the Borrower shall be required to deposit Cash Collateral into in a Cash Collateral account opened by the Administrative Agent, for the benefit of the Lenders, Agent in an amount equal to such excess. Such Cash Collateral shall be applied in accordance with Section 10.2(b9.2(b). Any reduction of the Commitments to zero shall be accompanied by payment of all outstanding Loans (and furnishing of Cash Collateral in an amount equal satisfactory to 103% of the Administrative Agent for all L/C Obligations) and shall result in the termination of the Commitments and the Revolving Credit Facility. If the reduction of the Commitments requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 5.9 4.9 hereof.