Default, Maturity, etc Sample Clauses

Default, Maturity, etc. Upon the earlier of the Maturity Date and the Administrative Agent declaring the Obligations to be due and payable pursuant to section 10.2, and notwithstanding the expiration date of any outstanding Letters of Credit issued under the Credit Facility, an amount equal to the Face Amount of all outstanding Letters of Credit under the Credit Facility, and all accrued and unpaid fees owing by the Borrower in respect of the Issuance of such Letters of Credit pursuant to section 5.6, if any, shall thereupon forthwith become due and payable by the Borrower to the Administrative Agent and, except for any amount payable in respect of unpaid fees as aforesaid, such amount shall be held in a cash collateral account by the Administrative Agent and invested in Cash Equivalents as security to provide for or to secure payment of the amounts payable under such Letters of Credit in respect of any drawing thereunder. The Borrower shall pay to the Administrative Agent the aforesaid amount in respect of both any Letter of Credit outstanding hereunder and any Letter of Credit which is the subject matter of any order, judgment, injunction or other such determination (in this section 5.9, a “Judicial Order”) restricting payment by the Fronting Lender under and in accordance with such Letter of Credit or extending the Fronting Lender’s liability under such Letter of Credit beyond the expiration date stated therein. Payment in respect of each such Letter of Credit shall be due in the currency in which such Letter of Credit is stated to be payable. Subject to section 2.5(5), the Administrative Agent shall with respect to each such Letter of Credit, upon the later of: (a) the date on which any final and non-appealable order, judgment or other such determination has been rendered or issued either terminating the applicable Judicial Order or permanently enjoining the Fronting Lender from paying under such Letter of Credit; and (b) the earlier of: (i) the date on which either the original counterpart of the Letter of Credit is delivered to the Administrative Agent for cancellation or the Fronting Lender is released by the Beneficiary from any further obligations in respect thereof; and (ii) the expiry (to the extent permitted by any applicable Law) of such Letter of Credit; pay to the Borrower an amount equal to the difference between the amount paid to the Administrative Agent by the Borrower pursuant to this section 5.9 and the aggregate amount paid by the Fronting Lender under such ...