Common use of Payment of LC Collateral Clause in Contracts

Payment of LC Collateral. When Borrower is required to provide LC Collateral for any reason and fails to do so on the day when required, Lender may without prior notice to Borrower or any other Restricted Person provide such LC Collateral (whether by application of proceeds of other Collateral, by transfers from other accounts maintained with Lender, or otherwise) using any available funds of Borrower or any other Restricted Person also liable to make such payments, and Lender will give notice thereof to Borrower or such other Restricted Person, as the case may be, promptly after such application or transfer; provided, however, the failure to give such notice shall not affect the validity of such application or transfer. Any such amounts which are required to be provided as LC Collateral and which are not provided on the date required shall, for purposes of each Security Document, be considered past due Obligations owing hereunder, and Lender is hereby authorized to exercise its respective rights under each Security Document to obtain such amounts.

Payment of LC Collateral. When Borrower is required to provide LC Collateral for any reason and fails to do so on the day when required, Lender LC Issuer or Administrative Agent may without prior notice to Borrower or any other Restricted Person provide such LC Collateral (whether by application of proceeds of other Collateral, by transfers from other accounts maintained with LenderLC Issuer, or otherwise) using any available funds of Borrower or any other Restricted Person also liable to make such payments, and Lender LC Issuer or Administrative Agent will give notice thereof to Borrower or such other Restricted Person, as the case may be, promptly after such application or transfer; provided, however, the failure to give such notice shall not affect the validity of such application or transfer. Any such amounts which are required to be provided as LC Collateral and which are not provided on the date required shall, for purposes of each Security Document, be considered past due Obligations owing hereunder, and Lender LC Issuer is hereby authorized to exercise its respective rights under each Security Document to obtain such amounts.

Payment of LC Collateral. When Borrower is required to provide LC Collateral for any reason and fails to do so on the day when required, Lender LC Issuer or Administrative Agent may without prior notice to Borrower or any other Restricted Person provide such LC Collateral (whether by application of proceeds of other Collateral, by transfers from other accounts maintained with LenderLC Issuer, or otherwise) using any available funds of Borrower or any other Restricted Person also liable to make such payments, and Lender LC Issuer or Administrative Agent will give notice thereof to Borrower or such other Restricted Person, as the case may be, promptly after such application or transfer; provided, however, the failure to give such notice shall not affect the validity of such application or transfer. Any such amounts which are required to be provided as LC Collateral and which are not provided on the date required shall, for purposes of each Security Document, be considered past due Secured Obligations owing hereunder, and Lender LC Issuer is hereby authorized to exercise its respective rights under each Security Document to obtain such amounts.

Payment of LC Collateral. When If Borrower is required to provide LC Collateral for any reason and but fails to do so on the day when as required, Lender LC Issuer or Administrative Agent may without prior notice to Borrower or any other Restricted Person provide such LC Collateral (whether by application of proceeds of other Collateral, by transfers from other accounts maintained with LenderLC Issuer, or otherwise) using any available funds of Borrower or any other Restricted Person also liable to make such payments, and Lender LC Issuer or Administrative Agent will give notice thereof to Borrower or such other Restricted Person, as the case may be, promptly after such application or transfer; provided, however, the failure to give such notice shall not affect the validity of such application or transfer. Any such amounts which are required to be provided as LC Collateral and which are not provided on the date required shall, for purposes of each Security Document, be considered past due Obligations owing hereunder, and Lender LC Issuer is hereby authorized to exercise its respective rights under each Security Document to obtain such amounts.. SECOND AMENDED AND RESTATED CREDIT AGREEMENT