Deposit of Cash Collateral. Upon the occurrence of a -------------------------- monetary Event of Default which Borrower has not cured in accordance with the applicable provisions hereof, Borrowers shall, on the next succeeding Business Day, deposit in a segregated, interest bearing account with Agent such funds as Agent may request, up to a maximum amount equal to the aggregate existing Letter of Credit Exposure. Any funds so deposited shall be held by Agent as security for the Credit Facility (including the Letters of Credit) and Borrowers will, in connection therewith, execute and deliver such assignments and security agreements in form and substance satisfactory to Agent which Agent may, in its discretion, require. As drafts or demands for payment are presented under any Letter of Credit, Borrowers hereby irrevocably direct Agent to apply such funds to satisfy such drafts or demands. When all Letters of Credit have expired and the Notes have been repaid in full (and Lenders have no obligation to make further Advances or issue Letters of Credit hereunder) or such Event of Default has been cured to the satisfaction of Agent, Agent shall release to Borrowers any remaining funds deposited under this Section 3.11. Whenever Borrowers are ------------ required to make deposits under this Section 3.11 and fail to do so on the day ------------ such deposit is due, Lenders may make such deposit using any funds of Borrowers then available to any Lender.
Deposit of Cash Collateral. If on any date the LC Exposure exceeds the Revolving Commitments in effect on such date, the Borrower shall on such date deposit cash collateral in an amount equal to 105% of such excess on the terms set forth in Section 2.5(k).
Deposit of Cash Collateral. The Account Party shall deposit, and the Issuing Lender shall have received, in the Cash Collateral Account immediately available funds in the amount equal to 105% of the aggregate undrawn face amount of the Letters of Credit, as set forth on Schedule A as of the Assignment Effective Date.
Deposit of Cash Collateral. The Borrower shall have delivered evidence to the Lender that Cash Collateral in an aggregate amount of at least $70,000,000 has been deposited into the Collateral Account.
Deposit of Cash Collateral. The Parent shall have deposited with the Administrative Agent the Collateral Shortfall Amount.
Deposit of Cash Collateral. Undersigned agree to deposit with Company prior to the execution of the Bond a cash deposit of $ as full cash collateral to secure the Undersigned’s full and complete performance of its obligations under this Bond Agreement. Notwithstanding the deposit of such cash collateral, nothing herein shall preclude Producer or Company from prosecuting independent and successive actions and/or proceedings to recover any such costs, fees, premiums, charges, expenses, losses, and disbursements, including advances, if any, that are due and owing from Undersigned under this Bond Agreement.
Deposit of Cash Collateral. Undersigned agree to deposit with [G&G] prior to the execution of the Bond a cash deposit of $ as full cash collateral to secure the Undersigned’s full and complete performance of its obligations under this Bond Agreement. Notwithstanding the deposit of such cash collateral, nothing herein shall preclude [G&G] or Company from prosecuting independent and successive actions and/or proceedings to recover any such costs, fees, premiums, charges, expenses, losses, and disbursements, including advances, if any, that are due and owing from Undersigned under this Bond Agreement.
Deposit of Cash Collateral. Upon the occurrence and during the continuation of any Event of Default, without limiting any other right or remedy of Lenders hereunder, Borrower shall, on the next succeeding Business Day after request therefor, deposit in a segregated, interest bearing account with Agent such funds as Agent may request, up to a maximum amount equal to the Letter of Credit Exposure. Any funds so deposited shall be held by Agent as security for the Credit Facility (including the Letters of Credit) and Borrower shall, in connection therewith, execute and deliver such assignments and security agreements in form and substance reasonably satisfactory to Agent which Agent may, in its discretion, require. As drafts or demands for payment are presented under any Letter of Credit, Borrower hereby irrevocably directs Agent to apply such funds to satisfy such drafts or demands. When either (a) all Letters of Credit have expired and the Notes have been repaid in full (and Lenders have no obligation to make further Advances and Issuing Lender has no obligation to issue Letters of Credit hereunder), or (b) such Event of Default has been cured to the satisfaction of Agent or waived by the Required Lenders, Agent shall release to Borrower any remaining funds deposited with it pursuant to this SECTION 3.11. Whenever Borrower is required to make deposits under this SECTION 3.11 and fails to do so on the day such deposit is due, Lenders may make such deposit using any funds of Borrower then available to any Lender.
Deposit of Cash Collateral. Upon the occurrence of any Event of Default, Borrower shall, on the next succeeding Business Day, deposit in a segregated, interest bearing account with Lender such funds as Lender may request, up to a maximum amount equal to the aggregate existing Letter of Credit Exposure. Any funds so deposited shall be held by Lender as security for the Credit Facility (including the Letters of Credit) and Borrower will, in connection therewith, execute and deliver such assignments and security agreements in form and substance satisfactory to Lender which Lender may, in its discretion, require. As drafts or demands for payment are presented under any Letter of Credit, Borrower hereby irrevocably directs Lender to apply such funds to satisfy such drafts or demands. When all Letters of Credit have expired and the Note has been repaid in full (and Lender has no obligation to make further Advances or issue Letters of Credit hereunder) or such Event of Default has been cured to the satisfaction of Lender, Lender shall release to Borrower any remaining funds deposited pursuant to this SECTION 3.
Deposit of Cash Collateral. The Parties acknowledge and agree that, notwithstanding anything to the contrary in this Agreement, the SSA or the SA:
(a) the Company shall fulfil its Cash Top Up Obligation and Further Top Up Obligation (each as defined in the SA), together with any and all interest amounts required to be paid by the Company pursuant to clause 4.4 of the SA, in full on or before November 30, 2024;
(b) prior to the earlier of Closing or the fifth (5th) Business Day after the deposit of any Cash Top Up Obligation (as defined in the SA) or Further Top Up Obligation (as defined in the SA) into the Restricted Cash Account, the Company and the Investor shall execute and deliver to JPMorgan Chase Bank, N.A. Hong Kong Branch (JX Xxxxxx) one (1) or more irrevocable Escrow Cash Release Notices (as defined in the Escrow Agreement (as defined in the SSA)) instructing JX Xxxxxx to deposit all amounts required to be deposited by the Company into the Restricted Cash Account to fulfill its Cash Top Up Obligation and Further Top Up Obligation (each as defined in the SA) under the SSA and the SA from the Restricted Cash Account to an account designed by the Investor (the Setoff Amount); provided that, for the avoidance of doubt, the Company and Investor had already executed and delivered an Escrow Cash Release Notice (as defined in the Escrow Agreement (as defined in the SSA)) on October 31, 2024 to deposit US$1,468,750 to an account designated by the Investor pursuant to the Consent Letter as a partial fulfillment of the Company’s Cash Top Up Obligation, which amount shall constitute part of the Setoff Amount for the purposes of this Agreement; provided further that if the Closing does not occur pursuant to clause 3.1 as a result of the Investor’s failure to satisfy the conditions set out in clause 6.3 or its obligations set out in clause 3.3, the Investor shall as soon as reasonably practicable release the Setoff Amount back to the Restricted Cash Account; and
(c) the Investor shall no longer have the obligation to release the Deposit Amount (as defined in the SA) back to the Restricted Cash Account in accordance with clause 2.2 of the SA, and shall be entitled to withhold the Deposit Amount to the extent that it is being used to set off against the Company’s obligation to pay the Repurchase Price at Closing, provided, however, that if the Closing does not occur pursuant to clause 3.1 as a result of the Investor’s failure to satisfy the conditions set out in clause 6.3 or its obligation...
