Common use of Investment of LC Collateral Clause in Contracts

Investment of LC Collateral. Pending application thereof, all LC Collateral shall be invested by Lender in such investments as Lender may elect. All interest on such investments shall be reinvested or applied to Matured LC Obligations. When all indebtedness evidenced by the Notes and all LC Obligations have been satisfied in full, all Letters of Credit have expired or been terminated, and all of Borrower's reimbursement obligations in connection therewith have been satisfied in full, Lender shall release any remaining LC Collateral. Borrower hereby assigns and grants to Lender a continuing security interest in all LC Collateral, all investments purchased with such LC Collateral, and all proceeds thereof to secure its Matured LC Obligations and its obligations under this Amendment, the Loan Agreement, the Notes and the other Loan Documents. Borrower further agrees that Lender shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in the State of Texas with respect to such security interest and that an Event of Default under the Loan Agreement (as modified hereby) shall constitute a default for purposes of such security interest.

Investment of LC Collateral. Pending application thereof, all LC Collateral shall be invested by Lender Agent in such investments as Lender Agent may electchoose in its sole discretion. All interest on such investments shall be reinvested or applied to Matured LC Obligations and other past due Obligations. When all indebtedness evidenced by the Notes and all LC Obligations have been satisfied in full, including all LC Obligations, all Letters of Credit have expired or been terminated, and all of Borrower's Borrowers' reimbursement obligations in connection therewith have been satisfied in full, Lender Agent shall release any remaining LC Collateral. Borrower Borrowers hereby assigns assign and grants grant to Lender Agent a continuing security interest in all LC CollateralCollateral at any time held by Agent, all investments purchased with such LC Collateral, and all proceeds thereof to secure its Matured LC Obligations and its obligations Obligations under this Amendment, the Loan Agreement, the Notes Note, and the other Loan Documents. Borrower Borrowers further agrees agree that Lender Agent shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in the State of Texas with respect to such security interest and that an Event of Default under the Loan this Agreement (as modified hereby) shall constitute a default for purposes of such security interest.

Investment of LC Collateral. Pending application thereof, all LC Collateral shall be invested by Lender Issuing Bank in such interest-bearing investments as Lender Issuing Bank may electchoose in its sole discretion reasonably exercised. All interest on such investments shall be reinvested or applied to Matured LC Obligations. When all indebtedness evidenced by the Notes and all LC Obligations have been satisfied in full, including all LC Obligations, all Letters of Credit have expired or been terminated, and all of Borrower's ’s reimbursement obligations in connection therewith have been satisfied in full, Lender Issuing Bank shall release any remaining LC Collateral. Borrower hereby assigns and grants to Lender Issuing Bank a continuing security interest in all LC CollateralCollateral paid by it to Issuing Bank, all investments purchased with such LC Collateral, and all proceeds thereof to secure its Matured LC Obligations and its obligations Obligations under this Amendment, the Loan Agreement, the Notes Notes, and the other Loan Documents. Borrower further agrees that Lender Issuing Bank shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in the State of Texas with respect to such security interest and that an Event of Default under the Loan this Agreement (as modified hereby) shall constitute a default for purposes of such security interest.

Investment of LC Collateral. Pending application thereof, all LC Collateral shall be invested by Lender Agent in such investments as Lender Agent may electchoose in its sole discretion. All interest on such investments shall be reinvested or applied to Matured LC Obligations and other past due Obligations. When all indebtedness evidenced by the Notes and all LC Obligations have been satisfied in full, including all LC Obligations, all Letters of Credit have expired or been terminated, and all of Borrower's reimbursement obligations in connection therewith have been satisfied in full, Lender Agent shall release any remaining LC Collateral. Borrower hereby assigns and grants to Lender Agent a continuing security interest in all LC CollateralCollateral at any time held by Agent, all investments purchased with such LC Collateral, and all proceeds thereof to secure its Matured LC Obligations and its obligations Obligations under this Amendment, the Loan Agreement, the Notes Note, and the other Loan Documents. Borrower further agrees that Lender Agent shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in the State of Texas with respect to such security interest and that an Event of Default under the Loan this Agreement (as modified hereby) shall constitute a default for purposes of such security interest.