Limitation on Withdrawals. Without the prior written consent of the Administrative Agent, none of the Credit Parties shall make or cause the making of any withdrawal or transfer of funds constituting Collateral from any Collateral Account if the Administrative Agent has notified the Borrowers and the Guarantor or a Responsible Officer of a Borrower or the Guarantor has actual knowledge that a Cash Control Event has occurred and is continuing or if a mandatory prepayment pursuant to Section 2.1(e) is due and owing unless such withdrawal shall be applied to any payment of Obligations or to eliminate or reduce the circumstances giving rise to the Cash Control Event or mandatory prepayment (or in the case of a pending mandatory prepayment, applied to Anticipated Expenses, in compliance with this Credit Agreement). The Administrative Agent is authorized to give notice of its exclusive control of the Collateral Accounts to the depository bank or securities intermediary, only if a Cash Control Event has occurred and is continuing.
Appears in 8 contracts
Samples: Revolving Credit Agreement (MN8 Energy, Inc.), Revolving Credit Agreement (MN8 Energy, Inc.), Revolving Credit Agreement (MN8 Energy, Inc.)
