Prepayments of Letters of Credit. In the event that any Letters of Credit shall be outstanding or shall be drawn and not reimbursed on the Revolving Commitment Termination Date, the Borrower shall pay to the Administrative Agent an amount equal to 105% of the Letter of Credit Exposure allocable to such Letters of Credit to be held in the XX Xxxx Collateral Account and applied in accordance with paragraph (g) below.
Appears in 4 contracts
Samples: Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.)
Prepayments of Letters of Credit. In the event that any Letters Letter of Credit shall be outstanding or shall be drawn and not reimbursed on or prior to the Revolving Commitment Letter of Credit Termination Date, the Borrower shall pay to the Administrative Agent an amount equal to 105103% of the Dollar Equivalent of the Letter of Credit Exposure allocable to such Letters Letter of Credit, such amount to be due and payable on the Letter of Credit Termination Date, and to be held in the XX Xxxx Cash Collateral Account and applied in accordance with paragraph (gh) below.
Appears in 3 contracts
Samples: Credit Agreement (Forum Energy Technologies, Inc.), Credit Agreement (Forum Energy Technologies, Inc.), Credit Agreement (Forum Energy Technologies, Inc.)
