Common use of Credit-Linked Deposits Clause in Contracts

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 the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the obligation of each Synthetic Letter of Credit Lender to fund its participation in Synthetic Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit (except that such obligation shall be restored in the event that Administrative Agent reasonably determines that applicable law or the order of any Government Authority prohibits Administrative Agent from using a Synthetic Letter of Credit Lender’s Credit-Linked Deposit as described above due to the bankruptcy or insolvency of such Synthetic Letter of Credit Lender or due to any Lien in favor of creditors of such Synthetic Letter of Credit Lender).

Credit-Linked Deposits. On the First Amendment Effective Date, each Synthetic Letter of Credit Lender shall have deposited with pay to the Administrative Agent such Synthetic Letter of Credit Lender’s 's Credit-Linked Deposit. The Credit-Linked Deposits have been and shall continue to be held by the Administrative Agent in (or credited to) one or more operating and/or investment accounts of, and established by, the Administrative Agent under its sole and exclusive control and maintained at the office of the Administrative Agent located at 10 00 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (or such other office as the Administrative Agent shall from time to time designate to the Synthetic Letter of Credit Lenders). The 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). The 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 the 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 's Credit-Linked Deposit exceeds the greater of (A) the amount of such Synthetic Letter of Credit Lender’s 's Synthetic Letter of Credit Commitment and (B) the sum of such Synthetic Letter of Credit Lender’s '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 the Borrower in accordance with the Security Agreement) and such Synthetic Letter of Credit Lender’s 's Pro Rata Share of all unreimbursed drawings under Synthetic Letters of Credit. No Person other than the Administrative Agent shall have a right of withdrawal from any Credit-Linked Deposit or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the obligation of each Synthetic Letter of Credit Lender to fund its participation in Synthetic Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit (except that such obligation shall be restored in the event that the Administrative Agent reasonably determines that applicable law or the order of any Government Authority prohibits the Administrative Agent from using a Synthetic Letter of Credit Lender’s 's Credit-Linked Deposit as described above due to the bankruptcy or insolvency of such Synthetic Letter of Credit Lender or due to any Lien in favor of creditors of such Synthetic Letter of Credit Lender).

Credit-Linked Deposits. On the First Amendment Effective Restatement 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 00 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(iii3.3B(ii) 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)(c3.3C(i)(b). 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 the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the obligation of each Synthetic Letter of Credit Lender to fund its participation in Synthetic Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit (except that such obligation shall be restored in the event that Administrative Agent reasonably determines that applicable law or the order of any Government Authority prohibits Administrative Agent from using a Synthetic Letter of Credit Lender’s Credit-Linked Deposit as described above due to the bankruptcy or insolvency of such Synthetic Letter of Credit Lender or due to any Lien in favor of creditors of such Synthetic Letter of Credit Lender).

Credit-Linked Deposits. On the First Amendment Effective Date, each Synthetic Letter of Credit Lender shall have deposited with pay to the 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 the Administrative Agent in (or credited to) one or more operating and/or investment accounts of, and established by, the Administrative Agent under its sole and exclusive control and maintained at the office of the Administrative Agent located at 10 00 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (or such other office as the Administrative Agent shall from time to time designate to the Synthetic Letter of Credit Lenders). The 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). The 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 the 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 the 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 the Administrative Agent shall have a right of withdrawal from any Credit-Linked Deposit or any other right or power with respect to the Credit-Linked Deposits. Notwithstanding anything herein to the contrary, the obligation of each Synthetic Letter of Credit Lender to fund its participation in Synthetic Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit (except that such obligation shall be restored in the event that the Administrative Agent reasonably determines that applicable law or the order of any Government Authority prohibits the Administrative Agent from using a Synthetic Letter of Credit Lender’s Credit-Linked Deposit as described above due to the bankruptcy or insolvency of such Synthetic Letter of Credit Lender or due to any Lien in favor of creditors of such Synthetic Letter of Credit Lender).