Release of Excess Cash Collateral. (a) Upon the making of any L/C Advance, the Administrative Agent on behalf of the applicable Issuing Lender shall first seek to withdraw funds from the Letter of Credit Collateral Account as required under Section 2.17(e)(i) above and apply the amount so withdrawn against the L/C Amounts resulting from such L/C Advance, and any remaining Unreimbursed L/C Amount shall be repaid pursuant to Section 2.17(e)(ii).
Appears in 2 contracts
Samples: Loan and Servicing Agreement (Newell Brands Inc.), Loan and Servicing Agreement (Newell Brands Inc)
Release of Excess Cash Collateral. (a) Upon the making of any L/C Advance, the Administrative Agent on behalf of the applicable Issuing Lender shall first seek to withdraw funds from the Letter of Credit Collateral Account as required under Section 2.17(e)(i) above and apply the amount so withdrawn against the L/C Amounts resulting from such L/C Advance, and any remaining Unreimbursed L/C Amount shall be repaid pursuant to Section 2.17(e)(ii).
Appears in 1 contract
Release of Excess Cash Collateral. (a) Upon the making of any L/C Advance, the Administrative Agent on behalf of the applicable Issuing Lender shall first seek to withdraw funds from the Letter of Credit Collateral Account as required under Section 2.17(e)(i2.8(e)(i) above and apply the amount so withdrawn against the L/C Amounts resulting from such L/C Advance, and any remaining Unreimbursed L/C Amount shall be repaid pursuant to Section 2.17(e)(ii2.8(e)(ii).
Appears in 1 contract
Samples: Loan Agreement (Jarden Corp)