Common use of Release of Amounts Clause in Contracts

Release of Amounts. So long as no Default under Section 8.01(a) or (f) of the Credit Agreement or Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents, such amount, if any, as is then on deposit in any Cash Collateral Account to the extent permitted to be released under the terms of the Credit Agreement.

Appears in 2 contracts

Samples: Security Agreement (Terremark Worldwide Inc), First Lien Security Agreement (Terremark Worldwide Inc)

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Release of Amounts. (a) So long as no Default under Section 8.01(a), (f) or (fk) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents, such amount, if any, as is then on deposit in any Cash Collateral Account the Pledged Deposit Accounts, in each case to the extent permitted to be released under the terms of the Credit AgreementDocuments.

Appears in 2 contracts

Samples: Credit Agreement (Puget Energy Inc /Wa), Collateral Agency Agreement (Puget Energy Inc /Wa)

Release of Amounts. So long as no Event of Default under Section 8.01(a6.01(a) or (f) of the Credit Agreement or Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or and/or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, release to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan DocumentsLetters of Credit, such amount, if any, as is then on deposit in any Cash the L/C Collateral Account to the extent permitted required to be released satisfy Obligations under the terms Letter of the Credit AgreementFacility.

Appears in 1 contract

Samples: Security Agreement (Kansas City Southern)

Release of Amounts. So long as no Default under Section 8.01(a6.01(a) or (f) of the Credit Agreement or Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or and/or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, release to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan DocumentsLetters of Credit, such amount, if any, as is then on deposit in any Cash the L/C Collateral Account to the extent permitted required to be released satisfy Obligations under the terms Letter of the Credit AgreementFacility.

Appears in 1 contract

Samples: Security Agreement (Kansas City Southern)

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Release of Amounts. (a) So long as no Default under Section 8.01(a), (f) or (fk) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents, such amount, if any, as is then on deposit in any Cash Collateral Account the Pledged Deposit Accounts, in each case to the extent permitted to be released under the terms of the Credit Agreement.Documents. (b) The following provisions shall apply to withdrawals from the Lock-Up Account: (i)

Appears in 1 contract

Samples: Collateral Agency Agreement (Puget Sound Energy Inc)

Release of Amounts. So long as no Default under Section 8.01(a) or (f) of the Credit Agreement or Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents, such amount, if any, as is then on deposit in any the Cash Collateral Account to the extent permitted to be released under the terms of the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (Quantum Corp /De/)

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