Letter of Credit Obligations. The Administrative ------------------------------------------------ Agent may, at any time or from time to time apply funds then held in the Cash Collateral Account to the payment of any Letter of Credit Obligations owing to any Issuing Bank, in such order as the Administrative Agent may elect, as shall have become or shall become due and payable by the Borrower to any Issuing Bank under this Agreement in connection with the Letters of Credit.
Appears in 3 contracts
Samples: Credit Agreement (American General Hospitality Corp), Senior Unsecured Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp)
Letter of Credit Obligations. The ------------------------------------------------ Administrative ------------------------------------------------ Agent may, at any time or from time to time apply funds then held in the Cash Collateral Account to the payment of any Letter of Credit Obligations owing to any the Issuing Bank, in such order as the Administrative Agent may elect, as shall have become or shall become due and payable by the Borrower to any the Issuing Bank under this Agreement in connection with the Letters of Credit.
Appears in 1 contract
