Common use of Cover for LC Exposure Clause in Contracts

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to Section 2.09(a), (b) or (c) or Section 2.10(k) thereof shall be held by the Administrative Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST for the LC Exposure outstanding from time to time and SECOND as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Guarantee Agreement (Journal Register Co)

AutoNDA by SimpleDocs

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to as contemplated by Section 2.09(a), (b) or (c) or Section 2.10(k2.05(k) thereof shall be held by the Administrative Collateral Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Security Agreement (Krispy Kreme Doughnuts Inc)

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to Section 2.09(a), (b) or (c) or Section 2.10(k2.05(k) thereof shall be held by the Administrative Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Chart Industries Inc)

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to as contemplated by Section 2.09(a), (b) or (c) or Section 2.10(k2.05(j) thereof shall be held by the Administrative Collateral Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Second Lien Security Agreement (Krispy Kreme Doughnuts Inc)

Cover for LC Exposure. Amounts deposited into the Lender Collateral Account as cover for LC Exposure under pursuant to Section 2.05(k) of the Credit Agreement pursuant to Section 2.09(a), (b) or (c) or Section 2.10(k) thereof shall be held by the Administrative Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Lender Security Agreement (Panamsat Corp /New/)

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to as contemplated by Section 2.09(a), (b) or (c) or Section 2.10(k2.04(k) thereof shall be held by the Administrative Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Joint Venture Agreement (Nextel Partners Inc)

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to Section 2.09(a), (b2.04(k) or (c) or Section 2.10(k) thereof of the Revolving Credit Agreement shall be held by the Administrative Collateral Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST for for, first, the LC Exposure outstanding from time to time time, second, the other Revolving Credit Obligations (as defined in the Collateral Agency and SECOND as collateral security for Intercreditor Agreement) and, next, the other Secured Obligations hereunderObligations.

Appears in 1 contract

Samples: Security Agreement (Chart Industries Inc)

AutoNDA by SimpleDocs

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under pursuant to Section 2.04(k) of the Credit Agreement pursuant to Section 2.09(a), (b) or (c) or Section 2.10(k) thereof shall be held by the Administrative Agent in a separate sub-account (designated "the “LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Security Agreement (Sinclair Broadcast Group Inc)

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to as contemplated by Section 2.09(a), (b) or (c) or Section 2.10(k2.05(k) thereof shall be held by the Administrative Collateral Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: First Lien Security Agreement (Krispy Kreme Doughnuts Inc)

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to as contemplated by Section 2.09(a), (b) or (c) or Section 2.10(k2.05(k) thereof shall be held by the Administrative Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (HMS Holdings Corp)

Cover for LC Exposure. Amounts deposited into the Collateral Account as cover for LC Exposure under the Credit Agreement pursuant to Section 2.09(a), (bas contemplated by Sections 2.05(k) or (c) or Section 2.10(kand 3.05(k) thereof shall be held by the Administrative Agent in a separate sub-account (designated "LC Exposure Sub-Account") and all amounts held in such sub-account shall (a) constitute collateral security FIRST first for the LC Exposure outstanding from time to time and SECOND second as collateral security for the other Secured Obligations hereunderhereunder and (b) be invested from time to time in Permitted Investments as provided for in Section 4.02.

Appears in 1 contract

Samples: Security Agreement (Foster Wheeler LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!