Common use of Excess L/C Obligations Clause in Contracts

Excess L/C Obligations. If at any time (as determined by the Agent under Section 2.05(b)(v)) and for any reason, based upon the Equivalent Dollar Amount of all outstanding Revolving Loans and L/C Obligations, the outstanding amount of all L/C Obligations exceeds the lesser of (A) the Revolving Commitment less the sum of the amount of all outstanding Revolving Loans, Competitive Bid Loans and Swingline Loans and (B) the L/C Commitment, then, in each such case, the Borrower shall make a payment of cash collateral into a cash collateral account opened by the Agent for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 2.23(g).

Excess L/C Obligations. If at any time (as determined by the Administrative Agent under Section 2.05(b)(v2.5(b)(v)) and for any reason, based upon the Equivalent Dollar Amount of all outstanding Revolving Loans and L/C Obligations, the outstanding amount of all L/C Obligations exceeds the lesser of (A) the Revolving Aggregate Commitment less the sum of the amount of all outstanding Revolving Swingline Loans, Competitive Bid Revolving Credit Loans and Swingline Alternative Currency Loans and (B) the L/C Commitment, then, in each such case, the Borrower shall make a payment of cash collateral into a cash collateral account opened by the Administrative Agent for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 2.23(g11.2(b)).

Excess L/C Obligations. If at any time (as determined by the Administrative Agent under Section 2.05(b)(v)) and for any reason, based upon the Equivalent Dollar Amount of all outstanding Revolving Loans and L/C Obligations, the outstanding amount of all L/C Obligations exceeds the lesser of (A) the Revolving Commitment less the sum of the amount of all outstanding Revolving Loans, Competitive Bid Loans and Swingline Loans and (B) the L/C Commitment, then, in each such case, the Borrower shall make a payment of cash collateral into a cash collateral account opened by the Administrative Agent for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 2.23(g).

Excess L/C Obligations. If at any time (as determined by the Administrative Agent under Section 2.05(b)(v2.5(b)(v)) and for any reason, based upon the Equivalent Dollar Amount of all outstanding Revolving Loans and L/C Obligations, the outstanding amount of all L/C Obligations exceeds the lesser of (A) the Revolving Aggregate Commitment less the Swingline Commitment less the sum of the amount of all outstanding Revolving Loans, Competitive Bid Credit Loans and Swingline Alternative Currency Loans and (B) the L/C Commitment, then, in each such case, the Borrower shall make a payment of cash collateral into a cash collateral account opened by the Administrative Agent for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 2.23(g11.2(b)).