Common use of Excess L/C Obligations Clause in Contracts

Excess L/C Obligations. If at any time and for any reason the aggregate outstanding principal Dollar Amount of all L/C Obligations exceeds the lesser of (A) the Aggregate Commitment less the aggregate outstanding principal Dollar Amount of all Revolving Credit Loans and Swingline Loans and (B) the L/C Commitment, the Dollar Amount of such excess shall be immediately paid upon notice from the Administrative Agent by the applicable Borrower or Borrowers by means of a payment of cash collateral into a cash collateral account opened by such Borrower or Borrowers with the Administrative Agent for the benefit of the Lenders in accordance with Section 12.2(b).

Excess L/C Obligations. If at any time (as determined by the Administrative Agent under Section 2.6(b)(v)), and for any reason reason, the aggregate outstanding principal Dollar Amount amount of all L/C Obligations exceeds the lesser of (A) the Aggregate Revolving Credit Commitment less the aggregate outstanding principal sum of the Dollar Amount of all outstanding Revolving Credit Loans, Swingline Loans and Swingline Loans Canadian Outstandings and (B) the L/C Commitment, then, in each such case, the Dollar Amount of such excess Domestic Borrower shall be immediately paid upon notice from the Administrative Agent by the applicable Borrower or Borrowers by means of make a payment of cash collateral into a cash collateral account opened by such Borrower or Borrowers with the Administrative Agent Agent, for the benefit of the Lenders Administrative Agent and 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 12.2(b13.2(b)).

Excess L/C Obligations. If at any time (as determined by the Administrative Agent under Section 2.6(b)(v)), and for any reason reason, the aggregate outstanding principal Dollar Amount amount of all L/C Obligations exceeds the lesser of (A) the Aggregate Revolving Credit Commitment less the aggregate outstanding principal sum of the Dollar Amount of all outstanding Revolving Credit Loans, Swingline Loans and Swingline Loans Canadian Outstandings and (B) the L/C Commitment, then, in each such case, the Dollar Amount of such excess Domestic Borrower shall be immediately paid upon notice from the Administrative Agent by the applicable Borrower or Borrowers by means of make a payment of cash collateral into a cash collateral account opened by such Borrower or Borrowers with the Administrative Agent Agent, for the benefit of the Lenders Agents and 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 12.2(b13.2(b)).