Credit-Linked Deposits. The parties hereto acknowledge and agree that, notwithstanding anything to the contrary contained herein, the Credit-Linked Deposits (as defined in the Term Credit Agreement) shall remain property of the respective Term Lenders as provided in the Term Credit Agreement and shall not constitute Collateral hereunder; provided, that, without limiting the foregoing, if, notwithstanding the foregoing, such Credit Linked Deposits (or any portion thereof) are deemed to be Collateral (whether as a matter of applicable law or otherwise) then such CreditLinked Deposits or the applicable portion thereof, as the case may be, shall be deemed to constitute TL Priority Collateral, rather than ABL Priority Collateral, for all purposes hereunder. * * *
Credit-Linked Deposits. On the First Amendment Effective Date, each Synthetic Letter of Credit Lender shall have deposited with Administrative Agent such Synthetic Letter of Credit Lender’s Credit-Linked Deposit. The Credit-Linked Deposits have been and shall continue to be held by Administrative Agent in (or credited to) one or more operating and/or investment accounts of, and established by, Administrative Agent under its sole and exclusive control and maintained at the office of Administrative Agent located at 10 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (or such other office as Administrative Agent shall from time to time designate to the Synthetic Letter of Credit Lenders). Administrative Agent shall use the Credit-Linked Deposits (i) to fund the Synthetic Letter of Credit Loans on behalf of the Synthetic Letter of Credit Lenders pursuant to subsection 3.3B(iii) and (ii) to fund the payments on behalf of the Synthetic Letter of Credit Lenders to be made to the Synthetic Letter of Credit Issuing Lenders as (and to the extent) required by subsection 3.3C(i)(c). Administrative Agent shall not be required to return any portion of a Credit-Linked Deposit to the holder of such Credit-Linked Deposit unless either (I) the Synthetic Letter of Credit Commitments have been terminated and either (A) all Synthetic Letters of Credit have been cancelled and returned to the respective Issuing Lender or (B) pursuant to Section 8 Borrower has provided cash collateral in accordance with the Security Agreement for the maximum amount that may at any time be drawn under all Synthetic Letters of Credit then outstanding or (II) the Synthetic Letter of Credit Commitments have been reduced and, as a result of such reduction, the amount of such Synthetic Letter of Credit Lender’s Credit-Linked Deposit exceeds the greater of (A) the amount of such Synthetic Letter of Credit Lender’s Synthetic Letter of Credit Commitment and (B) the sum of such Synthetic Letter of Credit Lender’s Pro Rata Share of the undrawn portion of all outstanding Synthetic Letters of Credit (to the extent of so much of such undrawn portion as has not been adequately secured by the posting of cash collateral by Borrower in accordance with the Security Agreement) and such Synthetic Letter of Credit Lender’s Pro Rata Share of all unreimbursed drawings under Synthetic Letters of Credit. No Person other than Administrative Agent shall have a right of withdrawal from any Credit-Linked Deposit or any other right or power with respect to t...
Credit-Linked Deposits. Subject to the terms and conditions set forth herein, each Credit-Linked Lender severally agrees to fund such Lender’s Credit-Linked Deposit to the Administrative Agent on the Closing Date in an amount equal to its Credit-Linked Commitment for deposit by the Administrative Agent in the Credit-Linked Deposit Account.
Credit-Linked Deposits. (a) On the Closing Date, and subject to the satisfaction of the conditions precedent set forth in Article IV, each Lender that is a CL Lender on such date shall pay to the Deposit Bank such CL Lender's Credit-Linked Deposit in the amount of its Credit-Linked Commitment. The Credit-Linked Deposits shall be held by the Deposit Bank in (or credited to) the Credit-Linked Deposit Account, and no Person other than the Deposit Bank shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each CL Lender in respect of its participation in CL Credit Events shall be satisfied in full upon the funding of its Credit-Linked Deposit. Each of the Deposit Bank, the Administrative Agent, each Issuing Bank and each CL Lender hereby acknowledges and agrees (i) that each CL Lender is funding its Credit-Linked Deposit to the Deposit Bank for application in the manner contemplated by Section 2.06(a) and/or 2.05(e), (ii) the Deposit Bank may invest the Credit-Linked Deposits in such investments as may be determined from time to time by the Deposit Bank and (iii) the Deposit Bank has agreed to pay to each CL Lender a return on its Credit-Linked Deposit (except (x) during periods when such Credit-Linked Deposits are used to (x) fund CL Loans or (y) reimburse an Issuing Lender with respect to Drawings on CL Letters of Credit or (y) as otherwise provided in Sections 2.02(B)(c) and (d)) equal at any time to the Adjusted LIBO Rate for Dollar Term Loans for the Interest Period in effect for the Credit-Linked Deposits at such time less the Credit-Linked Deposit Cost Amount at such time. Such interest will be paid to the CL Lenders by the Deposit Bank at the applicable Adjusted LIBO Rate for an Interest Period of one month (or at an amount determined in accordance with Section 2.02(B)(c) or (d), as applicable) less, in each case, the Credit-Linked Deposit Cost Amount in arrears on each CL Interest Payment Date.
Credit-Linked Deposits. (a) The Credit-Linked Deposits shall be held by the Administrative Agent in the Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked Deposits, except as expressly set forth in Section 3.4 or this Section. Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Institutional L/C Lender in respect of its participation in Institutional Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit on the Closing Date.
Credit-Linked Deposits. (a) To request the funding of the Credit-Linked Deposit Account, Borrowers shall deliver, by hand delivery or telecopier, a duly completed and executed and irrevocable funding request to the Administrative Agent by 11:00 a.m., New York City time, on the Business Day of the requested funding of the Credit-Linked Deposits containing substantially the same information as is required in clauses (a) and (b) of Section 2.03 in respect of the Borrowing Requests for Term Borrowings. Each LC Lender agrees, severally and not jointly, to remit to the Administrative Agent on the Restatement Effective Date, an amount equal to such LC Lender’s Additional LC Commitment as its Credit-Linked Deposit to be made on the Restatement Effective Date. The Administrative Agent shall deposit all such amounts received by it into the Credit-Linked Deposit Account promptly upon receipt thereof. Each LC Lender irrevocably and unconditionally agrees that its Credit-Linked Deposit shall be available (i) to pay to the Issuing Banks such Lender’s Pro Rata Percentage of any Reimbursement Obligations in respect of any Letter of Credit that is not reimbursed by Borrowers and (ii) to fund such Lender’s LC Loans, in each case, pursuant to Section 2.18(e)(ii).
Credit-Linked Deposits. All Credit-Linked Deposits (as defined in the Original Credit Agreement) shall have been returned to the applicable Lenders party to the Original Credit Agreement.
Credit-Linked Deposits. (a) (i) Subject to the other paragraphs of this Section, the U.S. Borrower shall repay Tranche C-1 Term Borrowings and the Dutch Borrower shall repay Tranche C-2 Term Borrowings on each date set forth below (x) in the case of Tranche C-1 Term Borrowings, in the aggregate principal amount equal to the product of (A) the percentage set forth below opposite such date and (B) the sum of (I) the aggregate principal amount of the Tranche C-1 Initial Term Loans made on the Amendment and Restatement Effective Date and (II) the aggregate principal amount of Tranche C-1 Delayed Draw Term Loans made on or prior to the Delayed Draw B Expiration Date set forth for such Borrowings opposite such date (each such date being referred to as a “Term Loan Installment Date”) and (y), in the case of Tranche C-2 Term Borrowings, in the aggregate principal amount equal to the product of (A) the percentage set forth below opposite such Term Loan Installment Date and (B) the aggregate principal amount of the Tranche C-2 Term Loans made on the Amendment and Restatement Effective Date: Date Amount of Tranche C-1 Term Borrowings to Be Repaid Amount of Tranche C-2 Term Borrowings to Be Repaid September 30, 2006 0.25 % 0.25 % December 31, 2006 0.25 % 0.25 % March 31, 2007 0.25 % 0.25 % June 30, 2007 0.25 % 0.25 % September 30, 2007 0.25 % 0.25 % December 31, 2007 0.25 % 0.25 % March 31, 2008 0.25 % 0.25 % June 30, 2008 0.25 % 0.25 % September 30, 2008 0.25 % 0.25 % December 31, 2008 0.25 % 0.25 % March 31, 2009 0.25 % 0.25 % June 30, 2009 0.25 % 0.25 % September 30, 2009 0.25 % 0.25 % December 31, 2009 0.25 % 0.25 % March 31, 2010 0.25 % 0.25 % June 30, 2010 0.25 % 0.25 % September 30, 2010 0.25 % 0.25 % December 31, 2010 0.25 % 0.25 % March 31, 2011 0.25 % 0.25 % June 30, 2011 0.25 % 0.25 % September 30, 2011 0.25 % 0.25 % December 31, 2011 0.25 % 0.25 % March 31, 2012 0.25 % 0.25 % June 30, 2012 0.25 % 0.25 % September 30, 2012 0.25 % 0.25 % December 31, 2012 0.25 % 0.25 % March 31, 2013 0.25 % 0.25 % Term Facility Maturity Date 93.25 % 93.25 % To the extent not previously paid, outstanding Term Loans shall be due and payable on the Term Facility Maturity Date.
Credit-Linked Deposits. (a) (i) Subject to the other paragraphs of this Section, the U.S. Borrower shall repay Tranche B-1 Term Borrowings and the Dutch Borrower shall repay Tranche B-2 Term Borrowings on each date set forth below in the aggregate principal amount set forth for such Borrowings opposite such date (each such date being referred to as a “Term Loan Installment Date”): Date Amount of Tranche B-1 Term Borrowings to Be Repaid Amount of Tranche B-2 Term Borrowings to Be Repaid September 30, 2005 $ 525,000 $ 725,000 December 31, 2005 $ 525,000 $ 725,000 March 31, 2006 $ 525,000 $ 725,000 June 30, 2006 $ 525,000 $ 725,000 September 30, 2006 $ 525,000 $ 725,000 December 31, 2006 $ 525,000 $ 725,000 March 31, 2007 $ 525,000 $ 725,000 June 30, 2007 $ 525,000 $ 725,000 September 30, 2007 $ 525,000 $ 725,000 December 31, 2007 $ 525,000 $ 725,000 March 31, 2008 $ 525,000 $ 725,000 June 30, 2008 $ 525,000 $ 725,000 September 30, 2008 $ 525,000 $ 725,000 December 31, 2008 $ 525,000 $ 725,000 March 31, 2009 $ 525,000 $ 725,000 June 30, 2009 $ 525,000 $ 725,000 September 30, 2009 $ 525,000 $ 725,000 December 31, 2009 $ 525,000 $ 725,000 March 31, 2010 $ 525,000 $ 725,000 June 30, 2010 $ 525,000 $ 725,000 September 30, 2010 $ 525,000 $ 725,000 December 31, 2010 $ 525,000 $ 725,000 March 31, 2011 $ 525,000 $ 725,000 June 30, 2011 $ 525,000 $ 725,000 September 30, 2011 $ 525,000 $ 725,000 December 31, 2011 $ 525,000 $ 725,000 March 31, 2012 $ 525,000 $ 725,000 Term Facility Maturity Date $ 195,825,000 $ 270,425,000 To the extent not previously paid, outstanding Term Loans shall be due and payable on the Term Facility Maturity Date.
Credit-Linked Deposits
