Common use of Credit Excess Clause in Contracts

Credit Excess. Notwithstanding any other provisions of this Agreement (other than Section 2.8), if at any time the aggregate principal amount of all Advances exceeds the Maximum Available Amount, the Borrower shall immediately repay the aggregate outstanding Advances to the extent required to eliminate such excess. If the Borrower is unable to immediately do so because LIBOR Periods have not ended, B/As have not matured or L/Cs are outstanding, the Borrower shall immediately on demand post Cash Collateral with the Agent in the amount of the excess, and that Cash Collateral shall be held as security for the Obligations until the amount of the excess is paid in full.

Appears in 2 contracts

Samples: Credit Agreement (Hudbay Minerals Inc.), Credit Agreement (Hudbay Minerals Inc.)

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Credit Excess. Notwithstanding any other provisions of this Agreement (other than Section 2.8), if at any time the aggregate principal amount of all Advances exceeds the Maximum Available Amount, the Borrower shall immediately repay the aggregate outstanding Advances to the extent required to eliminate such excess. If the Borrower is unable to immediately do so because LIBOR Interest Periods have not ended, B/As have not matured or L/Cs are outstanding, the Borrower shall immediately on demand post Cash Collateral with the Agent in the amount of the excess, and that Cash Collateral shall be held as security for the Obligations until the amount of the excess is paid in full.

Appears in 1 contract

Samples: Credit Agreement (Hudbay Minerals Inc.)

Credit Excess. Notwithstanding any other provisions of this Agreement (other than Section 2.82.7), if at any time the aggregate principal amount of all Advances exceeds the Maximum Available Amount, the Borrower Borrowers shall immediately repay the aggregate outstanding Advances to the extent required to eliminate such excess. If the Borrower is Borrowers are unable to immediately do so because LIBOR Periods have not ended, B/As have not matured or L/Cs are outstanding, the Borrower Borrowers shall immediately on demand post Cash Collateral with the Agent in the amount of the excess, and that Cash Collateral shall be held as security for the Obligations until the amount of the excess is paid in full.

Appears in 1 contract

Samples: Assignment and Assumption (HudBay Minerals Inc.)

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Credit Excess. Notwithstanding any other provisions of this Agreement (other than Section 2.82.9), if at any time the aggregate principal amount of all Advances exceeds the Maximum Available Amount, the Borrower Borrowers shall immediately repay the aggregate outstanding Advances to the extent required to eliminate such excess. If the Borrower is Borrowers are unable to immediately do so because LIBOR Periods have not ended, B/As have not matured or L/Cs are outstanding, the Borrower Borrowers shall immediately on demand post Cash Collateral with the Agent in the amount of the excess, and that Cash Collateral shall be held as security for the Obligations until the amount of the excess is paid in full.

Appears in 1 contract

Samples: Assignment and Assumption (HudBay Minerals Inc.)

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