L/C Cash Collateral Account. The Borrower hereby grants to the Administrative Agent, for the benefit of the Issuing Lenders and the Lenders, a security interest in all cash, deposit accounts and all balances therein and all proceeds of the foregoing as required to be deposited in furtherance of Section 3.1(b) or Section 3.8. Cash collateral shall be maintained in blocked, interest bearing deposit accounts at Xxxxx Fargo; provided that upon the earlier of (x) termination of this Agreement or (y) the Maturity Date, any cash collateral relating to a Letter of Credit issued by an Issuing Lender other than Xxxxx Fargo shall be transferred on terms satisfactory to such Issuing Lender and the Administrative Agent to an account maintained by such Issuing Lender ( the “L/C Cash Collateral Account”). All interest on such cash collateral shall be paid as follows: (i) if such cash collateral is delivered to the Administrative Agent by the Borrower pursuant to any of Section 3.1(b), then such interest shall be paid to the Borrower upon the Borrower’s request, provided that such interest shall first be applied to all outstanding Obligations at such time and the balance shall be distributed to the Borrower, and (ii) if such cash collateral is delivered to the Administrative Agent by the Borrower at any time that such cash collateral is not required to be delivered under this Agreement, then such interest shall be distributed to the Borrower (provided that if at any time after such delivery of cash collateral the Borrower would have been required to deliver cash collateral pursuant to any of Section 3.1(b), the interest shall be applied as provided in clause (i) above).
L/C Cash Collateral Account. (i) Upon the occurrence of an Event of Default and demand by the Administrative Agent pursuant to Section 8.2(c) hereof (except in the case of an Event of Default specified in Section 8.1(e) or (f) hereof, without any demand or taking of any other action by the Administrative Agent or any Lender), the Borrower will promptly pay to the Administrative Agent in immediately available funds an amount equal to the maximum amount then available to be drawn under the Letters of Credit then outstanding. Any amounts so received by the Administrative Agent shall be deposited by the Administrative Agent in a deposit account maintained by the Administrative Agent (the "L/C Cash Collateral Account").
L/C Cash Collateral Account. The Borrower hereby grants to the Administrative Agent, for the benefit of the Issuing Banks and the Banks, a security interest in and Lien on the L/C Cash Collateral Account and all cash, deposit accounts and all balances therein and all proceeds of the foregoing, to secure the Obligations of the Borrower in respect of Letters of Credit and the other Obligations of the Borrower. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts at Citibank.
L/C Cash Collateral Account. (i) Upon the occurrence of an Event of Default and demand by Administrative Lender pursuant to Section 6.2(iv), Borrower will promptly pay to Administrative Lender in immediately available funds an amount equal to the maximum amount then available to be drawn under the Letters of Credit then outstanding. Any amounts so received by Administrative Lender shall be deposited by Administrative Lender in a deposit account maintained by Issuing Bank (the "L/C Cash Collateral Account").
L/C Cash Collateral Account. (i) Upon the occurrence of an Event of Default and demand by the Administrative Lender pursuant to Section 8.2(c) (but in the case of an Event of Default specified in Section 8.1(f) or (g) hereof, without any demand or taking of any other action by the Administrative Lender or any Lender), the Borrower will promptly pay to the Administrative Lender in immediately available funds an amount equal to 102% of the maximum amount then available to be drawn under the Letters of Credit then outstanding. Any amounts so received by the Administrative Lender shall be deposited by the Administrative Lender in a deposit account maintained by the Issuing Bank (the "L/C Cash Collateral ------------------- Account"). -------
L/C Cash Collateral Account. (a) Upon the occurrence and during the continuance of an Event of Default and demand by the Agent pursuant to SECTION 14.2(c) (but in the case of an Event of Default pursuant to SECTION 14.1(g) or SECTION 14.1(h), without any demand or the taking of any other action by Agent or any Lender), Borrower will promptly pay to Agent in immediately available funds an amount equal to the maximum amount then available to be drawn under all Letters of Credit then outstanding.
L/C Cash Collateral Account. The Depositary Bank shall establish (i) a segregated, non-interest bearing and irrevocable account of the Borrower entitled “L/C Cash Collateral Account for the benefit of The Bank of Tokyo-Mitsubishi UFJ, Ltd., as DSR Issuing Bank” to be maintained with the Depositary Bank, initially having account number XXXXXXXXXX and (ii) a segregated, non-interest bearing and irrevocable account of the Borrower entitled “L/C Cash Collateral Account for the benefit of The Bank of Tokyo-Mitsubishi UFJ, Ltd., as WC Issuing Bank” to be maintained with the Depositary Bank, initially having account number XXXXXXXXXX (each such account, together with any successor account, and any similar account established for any other Issuing Bank at the written request of the Borrower or the Collateral Agent to the Depositary Bank, a “L/C Cash Collateral Account”). No payments shall be made out of any such account except on the terms herein stated.
L/C Cash Collateral Account. (i) Upon the occurrence of an Event of Default and demand by the Administrative Lender pursuant to SECTION 8.2(C), the Borrowers will promptly pay, jointly and severally, to the Administrative Lender in immediately available funds an amount equal to 100% of the maximum amount then available to be drawn under the Letters of Credit then outstanding. Any amounts so received by the Administrative Lender shall be deposited by the Administrative Lender in a deposit account maintained by the Issuing Bank (the "L/C CASH COLLATERAL ACCOUNT").
L/C Cash Collateral Account. (i) Upon the occurrence of an Event of Default and demand by the Administrative Agent pursuant to SECTION 8.2(c) (but in the case of an Event of Default specified in SECTION 8.1(f) and (g) hereof, without any demand or taking of any other action by the Administrative Agent or any other Lender), the Borrower will promptly pay to the Administrative Agent in immediately available funds an amount equal to 100% of the maximum amount then available to be drawn under the Letters of Credit then outstanding. Any amounts so received by the Administrative Agent shall be deposited by the Administrative Agent in a deposit account maintained by the Issuing Bank (the "L/C CASH COLLATERAL ACCOUNT"). In addition, as provided in SECTION 2.16(a), the Borrower shall deposit in the L/C Cash Collateral Account immediately available funds in an amount equal to the aggregate amount of Letters of Credit outstanding on the Maturity Date.
L/C Cash Collateral Account. (a) The Borrower will, and will cause each of the U.S. Loan Parties to, ensure that such U.S. Loan Party owns each of the Receivables purported to be owned by it, free and clear of all Liens (except, in the case of any Receivables purported to constitute U.S. Collateral, such Liens so specified in the U.S. Security Documents, and, in any other case, for Permitted Liens), in its own name and not in the name of any nominee or other Person.
