Common use of Payment and Cash Collateralization Clause in Contracts

Payment and Cash Collateralization. If the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, provide Cash Collateral to secure such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i) for so long as such LC Exposure is outstanding;

Appears in 4 contracts

Samples: Credit Agreement (Leggett & Platt Inc), Credit Agreement (Leggett & Platt Inc), Credit Agreement (Leggett & Platt Inc)

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Payment and Cash Collateralization. If the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower Borrowers shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure Exposure, Canadian Currency Loans and Available Currency Loans and (y) second, provide Cash Collateral to secure cash collateralize such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.05(k) for so long as such LC Exposure is outstanding;

Appears in 3 contracts

Samples: Credit Agreement (IHS Markit Ltd.), Credit Agreement (IHS Inc.), Guaranty Agreement (IHS Inc.)

Payment and Cash Collateralization. If the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, provide Cash Collateral to secure cash collateralize such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.05(k) for so long as such LC Exposure is outstanding;

Appears in 2 contracts

Samples: Credit Agreement (IHS Markit Ltd.), Credit Agreement (IHS Markit Ltd.)

Payment and Cash Collateralization. If the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, provide Cash Collateral to secure cash collateralize such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.05(j) for so long as such LC Exposure is outstanding;

Appears in 2 contracts

Samples: Credit Agreement (Trinity Industries Inc), Credit Agreement (Eagle Materials Inc)

Payment and Cash Collateralization. If if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one five (5) Business Day Days following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, provide Cash Collateral to secure cash collateralize such Defaulting Lender’s 's LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.05(j) for so long as such LC Exposure is outstanding;

Appears in 1 contract

Samples: Credit Agreement (Acxiom Corp)

Payment and Cash Collateralization. If the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one two Business Day Days following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, provide Cash Collateral to secure cash collateralize such Defaulting Lender’s 's LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.05(j) for so long as such LC Exposure is outstanding;

Appears in 1 contract

Samples: Credit Agreement (Darling International Inc)

Payment and Cash Collateralization. If if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower Company shall within one Business Day following notice by the Administrative Agent (xA) first, prepay such Swingline Exposure, Multicurrency Exposure and Protective Advances and (yB) second, provide Cash Collateral to secure cash collateralize such Defaulting Lender’s 's LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.06(k) for so long as such LC Exposure is outstanding;

Appears in 1 contract

Samples: Credit Agreement (Smithfield Foods Inc)

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Payment and Cash Collateralization. If if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower Company shall within one Business Day following notice by the Administrative Agent (xA) first, prepay such Swingline Exposure and Protective Advances and (yB) second, provide Cash Collateral to secure cash collateralize such Defaulting Lender’s 's LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.06(k) for so long as such LC Exposure is outstanding;

Appears in 1 contract

Samples: Credit (Smithfield Foods Inc)

Payment and Cash Collateralization. If if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, provide Cash Collateral to secure such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i) for so long as such LC Exposure is outstanding;

Appears in 1 contract

Samples: Credit Agreement (Leggett & Platt Inc)

Payment and Cash Collateralization. If if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, provide Cash Collateral cash collateralize for the benefit of the Issuing Bank only the obligations corresponding to secure such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(i2.05(j) for so long as such LC Exposure is outstanding;

Appears in 1 contract

Samples: Credit Agreement (Acxiom Corp)

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