Common use of Payment of Bankers’ Acceptances and Letters of Credit Clause in Contracts

Payment of Bankers’ Acceptances and Letters of Credit. Immediately upon the making of a declaration by the Administrative Agent referred to in Section 9.2, the Borrower shall, without necessity of further act or evidence, be and become thereby unconditionally obligated to deposit forthwith with the Administrative Agent for the Lenders' benefit and/or with the Swingline Lender Collateral equal to the full principal amount at maturity of all Bankers' Acceptances, Notional Bankers' Acceptances and the Face Amount of all Letters of Credit for the Borrower's account, and the Borrower hereby unconditionally promises and agrees to deposit with the Administrative Agent immediately upon such demand Collateral in the amount so demanded. The Borrower authorizes the Lenders, or any of them, to debit its account with the amount required to pay such Bankers' Acceptances and Notional Bankers' Acceptances, notwithstanding that any such Bankers' Acceptances and Notional Bankers' Acceptances may be held by the Lenders, or any of them, in their own right at maturity and the amount required to pay any drawings under Letters of Credit. Amounts paid to the Administrative Agent and/or with the Swingline Lender pursuant to such a demand in respect of Bankers' Acceptances or Notional Bankers' Acceptances shall be considered to be a prepayment by the Borrower in respect of such obligations (without any deduction of fees or discounts in respect thereof) and be applied against, and in respect of a demand by the Administrative Agent and shall reduce, pro rata among the BA Lenders and Non BA Lenders, in the case of Bankers' Acceptances and Notional Bankers' Acceptances (to the extent of the amounts paid to the Administrative Agent in respect of Bankers' Acceptances or Notional Bankers' Acceptances, as the case may be), the obligation of the Borrower to pay amounts then or thereafter payable under such Bankers' Acceptances, Notional Bankers' Acceptances or Letters of Credit accepted or issued hereunder at the times amounts become payable under or in respect thereof, as the case may be.

Payment of Bankers’ Acceptances and Letters of Credit. Immediately upon the making of a declaration by the Administrative Agent referred to in Section 9.211.2 (or the deemed making of such declaration), the Borrower Borrowers shall, without necessity of further act or evidence, be and become thereby unconditionally obligated to deposit forthwith with the Administrative Agent for the Lenders' benefit and/or with the Swingline Lender Collateral equal to the full principal amount at maturity Face Amount of all Bankers' Acceptances, Notional Bankers' Acceptances and the Face Amount of all Letters of Credit for then outstanding and issued by the Borrower's account, Lender and the Borrower Borrowers hereby unconditionally promises jointly and agrees severally promise and agree to deposit with the Administrative Agent Lender immediately upon such demand declaration Collateral in the amount so demandedsuch amount. The Each Borrower authorizes the Lenders, or any of them, Lender to debit its account with the amount required to pay provide cash collateral for such Bankers' Acceptances and Notional Bankers' AcceptancesLetters of Credit, notwithstanding that any such Bankers' Acceptances and Notional Bankers' Acceptances may be held by the Lenders, or any of them, Lender in their its own right at maturity and the amount required to pay any drawings or that no draw has yet been made under Letters a Letter of Credit. Any amounts deposited hereunder shall bear interest for the Borrowers' account at the rates of the Lender as may be applicable in respect of other deposits of similar amounts for similar terms. Amounts paid to the Administrative Agent and/or with the Swingline Lender pursuant to such a demand declaration (or deemed declaration) in respect of Bankers' Acceptances or Notional Bankers' Acceptances and Letters of Credit shall be considered to be a prepayment by the Borrower in respect of such obligations (without any deduction of fees or discounts in respect thereof) and be applied against, and in respect of a demand by the Administrative Agent and shall reduce, pro rata among the BA Lenders and Non BA Lenders, in the case of Bankers' Acceptances and Notional Bankers' Acceptances (to the extent of the amounts paid to the Administrative Agent in respect of Bankers' Acceptances or Notional Bankers' Acceptances, as the case may be), against the obligation of the Borrower Borrowers to pay amounts then or thereafter payable under such Bankers' Acceptances, Notional Bankers' Acceptances or and Letters of Credit accepted or issued hereunder at the times amounts become payable under or in respect thereof, as the case may bebe and any amounts remaining shall be held by the Lender as security for the payment and performance of all remaining outstanding Obligations.

Payment of Bankers’ Acceptances and Letters of Credit. Immediately upon the making giving of a declaration an Acceleration Notice by the Administrative Agent referred to in Section 9.210.2, the Borrower shall, without necessity of further act or evidence, be and become thereby unconditionally obligated to deposit forthwith with the Administrative Agent for the Lenders' benefit and/or with the Swingline Lender Working Capital Lender, Collateral equal to the full principal amount at maturity of all Bankers' Acceptances, Notional Bankers' Acceptances and the Face Amount of all Letters of Credit for the Borrower's account, and the Borrower hereby unconditionally promises and agrees to deposit with the Administrative Agent immediately upon such demand Collateral in the amount so demanded. The Borrower authorizes the Lenders, or any of them, to debit its account with the amount required to pay such Bankers' Acceptances and Notional Bankers' Acceptances, notwithstanding that any such Bankers' Acceptances and Notional Bankers' Acceptances may be held by the Lenders, or any of them, in their own right at maturity and the amount required to pay any drawings under Letters of Credit. Amounts paid to the Administrative Agent and/or with or to the Swingline Working Capital Lender pursuant to such a demand in respect of Bankers' Acceptances or Notional Bankers' Acceptances shall be considered to be a prepayment by the Borrower in respect of such obligations (without any deduction of fees or discounts in respect thereof) and be applied against, and in respect of a demand by the Administrative Agent and shall reduce, pro rata among the BA Lenders and Non BA Lenders, in the case of Bankers' Acceptances and Notional Bankers' Acceptances (to the extent of the amounts paid to the Administrative Agent in respect of Bankers' Acceptances or Notional Bankers' Acceptances, as the case may be), the obligation of the Borrower to pay amounts then or thereafter payable under such Bankers' Acceptances, Notional Bankers' Acceptances or Letters of Credit accepted or issued hereunder at the times amounts become payable under or in respect thereof, as the case may be.

Payment of Bankers’ Acceptances and Letters of Credit. Immediately upon the occurrence of an Insolvency Default or the making of a declaration by the Administrative Agent referred to in under Section 9.210.2, the Borrower Borrowers shall, without necessity of further act or evidence, be and become thereby unconditionally obligated to deposit provide forthwith with to the Administrative Agent Agent, for the Lenders' benefit and/or with the Swingline Lender ’ benefit, Cash Collateral equal to the full principal amount at maturity of all Bankers' ’ Acceptances, Notional Bankers' ’ Acceptances and the Face Amount of all Letters of Credit for the Borrower's accountthen outstanding and issued by each Lender, and the Borrower Borrowers hereby unconditionally promises promise and agrees agree to deposit with the Administrative Agent Agent, immediately upon such demand demand, Cash Collateral in the amount so demanded. The Each Borrower authorizes the Lenders, or any of them, Agent to debit its account with the amount required to pay such Bankers' Acceptances and Notional Bankers' ’ Acceptances, notwithstanding that any such Bankers' Acceptances and Notional Bankers' Acceptances may be held by the Lenders, or any of them, in their own right at maturity and the amount required to pay any drawings under Letters of Credit, notwithstanding that such Bankers’ Acceptances and Notional Bankers’ Acceptances may be held by a Lender in its own right at maturity. Amounts paid to the Administrative Agent and/or with the Swingline Lender pursuant to such a demand in respect of Bankers' ’ Acceptances or Notional Bankers' ’ Acceptances shall be considered to be a prepayment by the Borrower in respect of such obligations (without any deduction of fees or discounts in respect thereof) and be applied against, and in respect of a demand by the Administrative Agent and shall reduce, pro rata among the BA Lenders and the Non BA Lenders, in the case of Bankers' Acceptances and Notional Bankers' Acceptances (to the extent of the amounts paid to the Administrative Agent in respect of Bankers' Acceptances or Notional Bankers' Acceptances, as the case may be), the obligation of the Borrower Borrowers to pay amounts then or thereafter payable under such Bankers' Acceptances, ’ Acceptances or Notional Bankers' ’ Acceptances or Letters of Credit accepted or issued hereunder under the Facility at the times amounts become payable under or in respect thereof, as the case may be.