Deposit for Letters of Credit. In addition, after the occurrence and during the continuance of an Event of Default, the Borrower shall, promptly upon demand by the Collateral Agent, deliver to the Collateral Agent, Cash Collateral in such form as requested by the Collateral Agent for deposit into the Cash Collateral Account, together with such endorsements, and execution and delivery of such documents and instruments as the Collateral Agent may request in order to perfect or protect the Collateral Agent's Lien with respect thereto, in an aggregate principal amount equal to the then outstanding Letter of Credit Obligations.
Deposit for Letters of Credit. Upon demand by the Letter of Credit Issuer after the occurrence of any Event of Default, the Borrower shall deposit with the Agent for the benefit of the Letter of Credit Issuer with respect to each Letter of Credit then outstanding cash in an amount equal to the greatest amount for which such Letter of Credit may be drawn. Such deposits shall be held by the Agent for the benefit of the Letter of Credit Issuer in the Letter of Credit Cash Collateral Account as security for, and to provide for the payment of, the Letter of Credit Exposure and all other Obligations.
Deposit for Letters of Credit. In addition, after the occurrence and during the continuance of an Event of Default, (i) with respect to Letter of Credit Obligations under the Domestic Facility, the Domestic Borrowers jointly and severally agree, and (ii) with respect to Letter of Credit Obligations under the Multicurrency Facility, the Multicurrency Borrowers jointly and severally agree, promptly upon demand by the Administrative Agent (given upon the written instructions of the Requisite Lenders or, in the absence of such instructions, in its sole discretion), to deliver to the Administrative Agent, Cash Collateral in such form as requested by the Administrative Agent for deposit in the applicable Cash Collateral Account, together with such endorsements, and execution and delivery of such documents and instruments as the Administrative Agent may reasonably request in order to perfect or protect the Administrative Agent’s Lien with respect thereto, in an aggregate principal amount equal to (x) 105% of the face amount of each Letter of Credit Issued under the Domestic Facility or (y) 110% of the face amount of each Letter of Credit Issued under the Multicurrency Facility.
Deposit for Letters of Credit. In addition, within five days after the occurrence of an Event of Default, the Company shall, promptly upon demand by the Administrative Agent, in its sole discretion, deliver to the Administrative Agent cash collateral in such form as requested by the Administrative Agent, together with such endorsements, and execution and delivery of such documents and instruments as the Administrative Agent may request in an aggregate stated amount equal to the then outstanding Letter of Credit Obligations. Any such cash collateral shall be promptly returned to the Company upon the satisfaction or expiration of the Letter of Credit Obligations.
Deposit for Letters of Credit. In addition, upon demand by the Agent or the Issuing Bank after the occurrence and during the continuance of any Event of Default, the Borrower shall deposit with the Agent for the benefit of the Issuing Bank with respect to each Letter of Credit then outstanding, promptly upon the demand of the Agent, cash or Cash Equivalents in an amount equal to the greatest amount for which such Letter of Credit may be drawn. Such deposit shall be held by the Agent for the benefit of the Issuing Bank as security for, and to provide for the payment of, the Reimbursement Obligations. Pending the application of such deposit to payment of the Reimbursement Obligations, the Agent may invest such deposit in an open account or similar immediately available savings deposit and all interest accrued thereon shall be held with such deposit as additional security for the Reimbursement Obligations.
Deposit for Letters of Credit. Upon the occurrence of an Event of Default, the Letter of Credit Issuer may make payment of all or any part of the Stated Amount of any Letter of Credit to the beneficiary thereof, or to an account at the Agent designated by the Agent for the purpose of future payments to be made to such beneficiary, in which event such payment shall be treated in all respects as a drawing under the Letter of Credit in full compliance therewith (notwithstanding that the beneficiary shall have failed to present all or any of the documents or satisfied all or any of the requirements for a drawing thereunder) and shall result in an Unreimbursed Draw. In addition, upon demand by the Letter of Credit Issuer after the occurrence of any Event of Default, the Borrower shall deposit with the Agent for the benefit of the Letter of Credit Issuer with respect to each Letter of Credit then outstanding cash in an amount equal to the greatest amount for which such Letter of Credit may be drawn. Such deposits shall be held by the Agent for the benefit of the Letter of Credit Issuer in a non-interest bearing cash collateral account as security for, and to provide for the payment of, the Letter of Credit Exposure.
Deposit for Letters of Credit. Upon demand by the Agent or the Issuing Bank after the occurrence and during the continuance of any Event of Default, the Co-Borrowers shall deposit with the Agent for the benefit of the Issuing Bank with respect to each Letter of Credit then outstanding for the account of the Co-Borrowers, promptly upon the demand of the Agent, Cash or Cash Equivalents in an amount equal to the greatest amount for which all such Letter of Credit may be drawn. Such deposit shall be held by the Agent for the benefit of the Issuing Bank as security for, and to provide for the payment of, the Reimbursement Obligations.
Deposit for Letters of Credit. In addition, after the occurrence and during the continuance of an Event of Default described in Section 12.01(a) or the termination of the Commitments and the acceleration of the Obligations as provided in Section 12.02(a), each Borrower shall, promptly upon demand by the Agent, deliver to the Agent Cash Collateral in such form as requested by the Agent for deposit in the Cash Collateral Account, together with such endorsements, and execution and delivery of such documents and instruments, as the Agent may request in order to perfect or protect the Agent's Lien for the benefit of the Holders with respect thereto, in an aggregate principal amount equal to the then outstanding Letter of Credit Obligations of such Borrower.
Deposit for Letters of Credit. In addition, after the occurrence and during the continuance of an Event of Default, the Borrowers shall, promptly upon demand by the Administrative Agent (given upon the written instructions of the Requisite Lenders or, in the absence of such instructions, in its sole discretion), deliver to the Administrative Agent, Cash Collateral in such form and currency as requested by the Administrative Agent, together with such endorsements, and execution and delivery of such documents and instruments as the Administrative Agent may request in order to perfect or protect the Administrative Agent's Lien with respect thereto, in an aggregate principal amount equal to the then outstanding Letter of Credit Obligations.
Deposit for Letters of Credit. Upon the occurrence of an Event of Default, the Letter of Credit Issuer may make payment of all or any part of the Stated Amount of any Letter of Credit to the beneficiary thereof, or to the Letter of Credit Cash Collateral Account, in which event such payment shall be treated in all respects as a drawing under the Letter of Credit in full compliance therewith (notwithstanding that the beneficiary shall have failed to present all or any of the documents or satisfied all or any of the requirements for a drawing thereunder) and shall result in an Unreimbursed Draw. In addition, upon demand by the Letter of Credit Issuer after the occurrence of any Event of Default, the Borrower shall deposit with the Agent for the benefit of the Letter of Credit Issuer with respect to each Letter of Credit then outstanding cash in an amount equal to the greatest amount for which such Letter of Credit may be drawn. Such deposits shall be held by the Agent for the benefit of the Letter of Credit Issuer in the Letter of Credit Cash Collateral Account as security for, and to provide for the payment of, the Letter of Credit Exposure.
