Common use of Outstandings in Excess of Commitments Clause in Contracts

Outstandings in Excess of Commitments. At any time that the aggregate principal amount of Advances outstanding plus the aggregate Letter of Credit Exposures exceeds the aggregate Commitments (an “Excess”), including, without limitation, as a result of currency exchange rate fluctuations with respect to Letters of Credit denominated in Alternative Currencies, the Borrower shall immediately prepay to the Agent for the ratable account of the Lenders, in whole or in part, a principal amount of Advances comprising part of the same Borrowing(s) selected by the Borrower that will eliminate the Excess, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 2.11; provided, further, that in the event an Excess remains after prepayment in full of all of the Advances, the Borrower shall immediately deposit cash collateral in an account with the Agent, in the name of the Agent and for the benefit of the Lenders and the Issuing Banks (such deposit to be held by the Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement in accordance with Section 2.03(h)(i)), in an amount equal to such Excess.

Outstandings in Excess of Commitments. At any time that the aggregate principal amount of Revolving Advances outstanding plus the aggregate Letter of Credit Exposures exceeds the aggregate Revolving Commitments (an “Excess”), including, without limitation, as a result of currency exchange rate fluctuations with respect to Letters of Credit denominated in Alternative Currencies, the Borrower shall immediately prepay to the Agent for the ratable account of the Revolving Lenders, in whole or in part, a principal amount of Revolving Advances comprising part of the same Borrowing(s) selected by the Borrower that will eliminate the Excess, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Revolving Lenders in respect thereof pursuant to Section 2.11; provided, further, that in the event an Excess remains after prepayment in full of all of the Revolving Advances, the Borrower shall immediately deposit cash collateral in an account with the Agent, in the name of the Agent and for the benefit of the Revolving Lenders and the Issuing Banks (such deposit to be held by the Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement in accordance with Section 2.03(h)(i)), in an amount equal to such Excess.

Outstandings in Excess of Commitments. At any time that the aggregate principal amount of Advances outstanding plus the aggregate Letter of Credit Exposures exceeds the aggregate Commitments (an “Excess”), including, without limitation, as a result of currency exchange rate fluctuations with respect to Letters of Credit denominated in Alternative Currencies, the Borrower shall immediately prepay to the Agent for the ratable account of the Lenders, in whole or in part, a principal amount of Advances comprising part of the same Borrowing(s) selected by the Borrower that will eliminate the Excess, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 2.11; provided, further, that in the event an Excess remains after prepayment in full of all of the Advances, the Borrower shall immediately deposit cash collateral in an account with the Agent, in the name of the Agent and for the benefit of the Lenders and the Issuing Banks (such deposit to be held by the Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement in accordance with Section 2.03(h)(i2.03(h)), in an amount equal to such Excess.