Common use of Distributions with Respect to Letters of Credit Clause in Contracts

Distributions with Respect to Letters of Credit. Each of the Credit Parties and the Secured Parties agrees and acknowledges that if (after all outstanding Loans and L/C Disbursements have been paid in full) the Lenders are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued (or deemed issued) under the Credit Agreement, such amounts shall be deposited in the L/C Cash Collateral Account (as defined in the Security Agreement) as cash security for the repayment of Obligations owing to the Revolving Lenders in respect of such Letters of Credit. Upon termination of all outstanding Letters of Credit, all of such cash security shall be applied to the remaining Obligations of the Lenders. If there remains any excess cash security, such excess cash shall be withdrawn by the Collateral Agent from the XX Xxxx Collateral Account and distributed in accordance with Section 6.07(a) hereof.

Distributions with Respect to Letters of Credit. Each of the Credit Loan Parties and the Secured Parties agrees and acknowledges that if (after all outstanding Loans and L/C Disbursements Borrowings have been paid in full) the Lenders are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued (or deemed issued) under the Credit Agreement, such amounts shall be deposited in the L/C Cash Collateral Account (as defined in the Security Agreement) as cash security for the repayment of Senior Credit Obligations owing to the Revolving Credit Lenders in respect of such Letters of Credit. Upon termination of all outstanding Letters of CreditCredit and payment in full of all L/C Obligations, all of such cash security shall be applied to the remaining Senior Credit Obligations of the Lenders. If there remains any excess cash security, such excess cash shall be withdrawn by the Collateral Agent from the XX Xxxx Cash Collateral Account and distributed in accordance with Section 6.07(a) hereof.

Distributions with Respect to Letters of Credit. Each of the Credit Loan Parties and the Secured Finance Parties agrees and acknowledges that if (after all outstanding Loans and L/C Disbursements have been paid in full) the Lenders are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued (or deemed issued) under the Credit Agreement, such amounts shall be deposited in the L/C Cash Collateral Account (as defined in the Security Agreement) as cash security for the repayment of Senior Credit Obligations owing to the Revolving Lenders in respect of such Letters of Creditas such. Upon termination of all outstanding Letters of Credit, all of such cash security shall be applied to the remaining Senior Credit Obligations of the Lenders. If there remains any excess cash security, such excess cash shall be withdrawn by the Collateral Agent from the XX Xxxx L/C Cash Collateral Account and distributed in accordance with Section 6.07(a6.08(a) hereof.

Distributions with Respect to Letters of Credit. Each of the Credit Parties and the Secured Finance Parties agrees and acknowledges for itself and all Affiliated Derivatives Creditors that if (after all outstanding Loans and L/C Disbursements Reimbursement Obligations with respect to Letters of Credit have been paid in full) the Lenders are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued (or deemed issued) under the Credit Agreement, such amounts shall be deposited in the L/C Cash XX Xxxx Collateral Account (as defined in the Security Agreement) as cash security for the repayment of Senior Obligations owing to the Revolving Lenders in respect of such Letters of Creditas such. Upon termination of all outstanding Letters of Credit, all of such cash security shall be applied to the remaining Senior Obligations of the Lenders. If there remains any excess cash security, such excess cash shall be withdrawn by the Collateral Agent from the XX Xxxx Collateral Account and distributed in accordance with Section 6.07(a8.04(a) hereof.

Distributions with Respect to Letters of Credit. Each of the Credit Loan Parties and the Secured Finance Parties agrees and acknowledges that if (after all outstanding Loans and L/C Disbursements have been paid in full) the Lenders are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued (or deemed issued) under the Credit Agreement, such amounts shall be deposited in the L/C Cash Collateral Account (as defined in the Senior Security Agreement) as cash security for the repayment of Senior Credit Obligations owing to the Revolving Lenders in respect of such Letters of Creditas such. Upon termination of all outstanding Letters of Credit, all of such cash security shall be applied to the remaining Senior Credit Obligations of the Lenders. If there remains any excess cash security, such excess cash shall be withdrawn by the Senior Collateral Agent from the XX Xxxx L/C Cash Collateral Account and distributed in accordance with Section 6.07(a6.08(a) hereof.