Common use of Replacement or Collateralization of Letters of Credit Clause in Contracts

Replacement or Collateralization of Letters of Credit. Notwithstanding any provision contained in this Agreement or any of the Letter of Credit Applications to the contrary, upon the occurrence of any Event of Default under this Agreement, at Mercantile's option and without demand or further notice to Borrower, an amount equal to the aggregate undrawn face amount of all Letter(s) of Credit then outstanding shall be deemed (as between Mercantile and Borrower) to have been paid or disbursed by Mercantile (notwithstanding that such amounts may not in fact have been so paid or disbursed by Mercantile), and a Letter of Credit Loan to Borrower in such amount to have been made and accepted by Borrower, which Letter of Credit Loan shall be immediately due and payable. In lieu of the foregoing, at the election of Mercantile, Borrower shall, upon Mercantile's demand, deliver to Mercantile cash or other collateral acceptable to Mercantile, in its sole and absolute discretion, having a value, as determined by Mercantile, at least equal to aggregate undrawn face amount of all outstanding Letters of Credit. Any such collateral and/or any amounts received by Mercantile in payment of any Letter of Credit Loan made pursuant to this Section 4.3 shall be held by Mercantile in a separate account at Mercantile appropriately designated as a cash collateral account in relation to this Agreement and the Letters of Credit and retained by Mercantile as collateral security for the payment of the Borrower's Obligations. Cash amounts delivered to Mercantile pursuant to the foregoing requirements of this Section 4.3 shall be invested, at the request and for the account of Borrower, in investments of a type and nature and with a term acceptable to Mercantile. Such amounts, including in the case of cash amounts invested in the manner set forth above, any investment realized thereon, shall not be used by Mercantile to pay any amounts drawn or paid under or pursuant to any Letter of Credit, but may be applied to reimburse Mercantile for drawings or payments under or pursuant to the Letters of Credit which Mercantile has paid, or if no such reimbursement is required shall be delivered to the Agent for

Replacement or Collateralization of Letters of Credit. Notwithstanding any provision contained in this Agreement or any of the Letter of Credit Applications to the contrary: (a) if any of the Letters of Credit remain outstanding on the last day of the Letter of Credit Period, Borrower shall, on or before 12:00 noon (St. Louis time) on the last day of the Letter of Credit Period, (i) surrender the originals of the applicable Letter(s) of Credit to Mercantile for cancellation or (ii) provide Mercantile with cash collateral (or other collateral acceptable to the Required Banks in their sole and absolute discretion) in an amount at least equal to the aggregate undrawn face amount of all Letter(s) of Credit which remain outstanding at such time and execute and deliver to Mercantile such agreements as the Required Banks may require to grant Mercantile a first priority perfected security interest in such cash or other collateral; and (b) upon the occurrence of any Event of Default under this AgreementAgreement (including, without limitation, Borrower's failure to comply with the requirements of clause (a) above), at Mercantile's option and without demand or further notice to Borrower, an amount equal to the aggregate undrawn face amount of all Letter(s) of Credit then outstanding shall be deemed (as between Mercantile and Borrower) to have been paid or disbursed by Mercantile (notwithstanding that such amounts may not in fact have been so paid or disbursed by Mercantile), and a Letter of Credit Loan to Borrower in such amount to have been made and accepted by Borrower, which Letter of Credit Loan shall be immediately due and payable. In lieu of the foregoing, at the election of Mercantile, Borrower shall, upon Mercantile's demand, deliver to Mercantile cash cash, or other collateral acceptable to Mercantile, the Required Banks in its their sole and absolute discretion, having a value, as determined by Mercantilethe Required Banks, at least equal to aggregate undrawn face amount of all outstanding Letters of CreditCredit and execute and deliver to Mercantile such agreements as the Required Banks may require to grant Mercantile a first priority perfected security interest in such cash or other collateral. Any such collateral and/or any amounts received by Mercantile in payment of any the Letter of Credit Loan made pursuant to this Section 4.3 3.04 shall be held by Mercantile in a separate account at Mercantile appropriately designated as a cash collateral account in relation to this Agreement and the Letters of Credit and retained by Mercantile as collateral security for the payment of the Borrower's Obligations. Cash amounts delivered to Mercantile pursuant to the foregoing requirements of this Section 4.3 3.04 shall be invested, at the request and for the account of Borrower, in investments of a type and nature and with a term acceptable to Mercantilethe Required Banks. Such amounts, including in the case of cash amounts invested in the manner set forth above, any investment realized thereon, shall not be used by Mercantile to pay any amounts drawn or paid under or pursuant to any Letter of Credit, but may be applied to reimburse Mercantile for drawings or payments under or pursuant to the Letters of Credit which Mercantile has paid, or if no such reimbursement is required to the payment of such other of Borrower's Obligations as Mercantile shall determine. Any amounts remaining in any cash collateral account established pursuant to this Section 3.04 after the payment in full of all of the Borrower's Obligations and the expiration or cancellation of all of the Letters of Credit shall be delivered returned to the Agent forBorrower (after deduction of Mercantile's expenses, if any).

Replacement or Collateralization of Letters of Credit. Notwithstanding any provision contained in this Agreement or any of the Letter of Credit Applications to the contrary: (a) if any of the Letters of Credit remain outstanding on the last day of the Revolving Credit Period, Borrower shall, on or before 12:00 noon (St. Louis time) on the last day of the Revolving Credit Period, surrender the originals of the applicable Letter(s) of Credit to Mercantile for cancellation; and (b) if the Borrower Security Agreement is no longer in full force and effect, upon the occurrence of any Event of Default under this AgreementAgreement (including, without limitation, Borrower's failure to comply with the requirements of clause (a) above), at Mercantile's option and without demand or further notice to Borrower, an amount equal to the aggregate undrawn face amount of all Letter(s) of Credit then outstanding shall be deemed (as between Mercantile and Borrower) to have been paid or disbursed by Mercantile (notwithstanding that such amounts may not in fact have been so paid or disbursed by Mercantile), and a Letter of Credit Loan to Borrower in such amount to have been made and accepted by Borrower, which Letter of Credit Loan shall be immediately due and payable. In lieu of the foregoing, at the election of Mercantile, if the Borrower Security Agreement is no longer in full force and effect, Borrower shall, upon Mercantile's demand, deliver to Mercantile cash cash, or other collateral acceptable to Mercantile, the Required Banks in its their sole and absolute discretion, having a value, as determined by Mercantilethe Required Banks, at least equal to aggregate undrawn face amount of all outstanding Letters of CreditCredit and execute and deliver to Mercantile such agreements as the Required Banks may require to grant Mercantile a first priority perfected security interest in such cash or other collateral. Any such collateral and/or any amounts received by Mercantile in payment of any the Letter of Credit Loan made pursuant to this Section 4.3 3.04 shall be held by Mercantile in a separate account at Mercantile appropriately designated as a cash collateral account in relation to this Agreement and the Letters of Credit and retained by Mercantile as collateral security for the payment of the Borrower's Obligations. Cash amounts delivered to Mercantile pursuant to the foregoing requirements of this Section 4.3 3.04 shall be invested, at the request and for the account of Borrower, in investments of a type and nature and with a term acceptable to Mercantilethe Required Banks. Such amounts, including in the case of cash amounts invested in the manner set forth above, any investment realized thereon, shall not be used by Mercantile to pay any amounts drawn or paid under or pursuant to any Letter of Credit, but may be applied to reimburse Mercantile for drawings or payments under or pursuant to the Letters of Credit which Mercantile has paid, or if no such reimbursement is required to the payment of such other of Borrower's Obligations as the Required Banks shall determine. Any amounts remaining in any cash collateral account established pursuant to this Section 3.04 after the payment in full of all of the Borrower's Obligations and the expiration or cancellation of all of the Letters of Credit shall be delivered returned to the Agent forBorrower (after deduction of Mercantile's expenses, if any).

Replacement or Collateralization of Letters of Credit. Notwithstanding any provision contained in this Agreement or any of the Letter of Credit Applications to the contrary: (a) if any of the Letters of Credit remain outstanding on the last day of the Letter of Credit Period, Borrower shall, on or before 12:00 noon (St. Louis time) on the last day of the Letter of Credit Period, (i) surrender the originals of the applicable Letter(s) of Credit to Mercantile for cancellation or (ii) provide Mercantile with cash collateral (or other collateral acceptable to the Required Banks in their sole and absolute discretion) in an amount at least equal to the aggregate undrawn face amount of all Letter(s) of Credit which remain outstanding at such time and execute and deliver to Mercantile such agreements as the Required Banks may require to grant Mercantile a first priority perfected security interest in such cash or other collateral; and (b) upon the occurrence of any Event of Default under this AgreementAgreement (including, without limitation, Borrower's failure to comply with the requirements of clause (a) above), at Mercantile's option and without demand or further notice to Borrower, an amount equal to the aggregate undrawn face amount of all Letter(s) of Credit then outstanding shall be deemed (as between Mercantile and Borrower) to have been paid or disbursed by Mercantile (notwithstanding that such amounts may not in fact have been so paid or disbursed by Mercantile), and a Letter of Credit Loan to Borrower in such amount to have been made and accepted by Borrower, which Letter of Credit Loan shall be immediately due and payable. In lieu of the foregoing, at the election of Mercantile, Borrower shall, upon Mercantile's demand, deliver to Mercantile cash cash, or other collateral acceptable to Mercantile, the Required Banks in its their sole and absolute discretion, having a value, as determined by Mercantilethe Required Banks, at least equal to aggregate undrawn face amount of all outstanding Letters of CreditCredit and execute and deliver to Mercantile such agreements as the Required Banks may require to grant Mercantile a first priority perfected security interest in such cash or other collateral. Any such collateral and/or any amounts received by Mercantile in payment of any the Letter of Credit Loan made pursuant to this Section 4.3 3.04 shall be held by Mercantile in a separate account at Mercantile appropriately designated as a cash collateral account in relation to this Agreement and the Letters of Credit and retained by Mercantile as collateral security for the payment of the Borrower's Obligations. Cash amounts delivered to Mercantile pursuant to the foregoing requirements of this Section 4.3 3.04 shall be invested, at the request and for the account of Borrower, in investments of a type and nature and with a term acceptable to Mercantilethe Required Banks. Such amounts, including in the case of cash amounts invested in the manner set forth above, any investment realized thereon, shall not be used by Mercantile to pay any amounts drawn or paid under or pursuant to any Letter of Credit, but may be applied to reimburse Mercantile for drawings or payments under or pursuant to the Letters of Credit which Mercantile has paid, or if no such reimbursement is required to the payment of such other of Borrower's Obligations as the Required Banks shall determine. Any amounts remaining in any cash collateral account established pursuant to this Section 3.04 after the payment in full of all of the Borrower's Obligations and the expiration or cancellation of all of the Letters of Credit shall be delivered returned to the Agent forBorrower (after deduction of Mercantile's expenses, if any).

Replacement or Collateralization of Letters of Credit. Notwithstanding any provision contained in this Agreement or any of the Letter of Credit Applications to the contrary, upon the occurrence of any Event of Default under this Agreement, at MercantileAgent's option and without demand or further notice to Borrower, an amount equal to the aggregate undrawn face amount of all Letter(s) of Credit then outstanding shall be deemed (as between Mercantile and Borrower) to have been paid or disbursed by Mercantile (notwithstanding that such amounts may not in fact have been so paid or disbursed by Mercantile), and a Letter of Credit Loan to Borrower in such amount to have been made and accepted by Borrower, which Letter of Credit Loan shall be immediately due and payable. In lieu of the foregoing, at the election of Mercantileoption, Borrower shall, upon MercantileAgent's demand, deliver to Mercantile Issuer cash or other collateral acceptable to MercantileIssuer, in its sole and absolute discretion, having a value, as determined by MercantileIssuer, at least equal to the aggregate undrawn face amount of all outstanding Letters of CreditCredit issued by Issuer. Any such collateral and/or any amounts received by Mercantile in payment of any Letter of Credit Loan made Issuer pursuant to this Section 4.3 4.5 shall be held by Mercantile Issuer in a separate account at Mercantile Issuer appropriately designated as a cash collateral account in relation to this Agreement and the Letters Letter of Credit and retained by Mercantile Issuer as collateral security for the payment of the Borrower's Obligations. Cash amounts delivered to Mercantile Issuer pursuant to the foregoing requirements of this Section 4.3 4.5 shall be invested, at the request and for the account of Borrower, in investments of a type and nature and with a term acceptable to MercantileIssuer. Such amounts, including in the case of cash amounts invested in the manner set forth above, any investment realized thereon, shall not be used by Mercantile Issuer to pay any amounts drawn or paid under or pursuant to any Letter of Credit, but may be applied to reimburse Mercantile Issuer for drawings or payments under or pursuant to the Letters of Credit which Mercantile Issuer has paid, or if no such reimbursement is required shall be delivered to the Agent forfor application to such other of Borrower's Obligations as Agent shall determine. Any amounts remaining in any cash collateral account established pursuant to this Section 4.5 after the payment in full of all of the Borrower's Obligations and the expiration or cancellation of all of the Letters of Credit shall be returned to Borrower (after deduction of Issuer's expenses, if any).

Replacement or Collateralization of Letters of Credit. Notwithstanding any provision contained in this Agreement or any of the Letter of Credit Applications to the contrary, upon the occurrence of any Event of Default under this Agreement, at Mercantile's option and without demand or further notice to Borrower, an amount equal to the aggregate undrawn face amount of all Letter(s) of Credit then outstanding shall be deemed (as between Mercantile and Borrower) to have been paid or disbursed by Mercantile (notwithstanding that such amounts may not in fact have been so paid or disbursed by Mercantile), and a Letter of Credit Loan to Borrower in such amount to have been made and accepted by Borrower, which Letter of Credit Loan shall be immediately due and payable. In lieu of the foregoing, at the election of Mercantile, Borrower shall, upon Mercantile's demand, deliver to Mercantile cash or other collateral acceptable to Mercantile, in its sole and absolute discretion, having a value, as determined by Mercantile, at least equal to aggregate undrawn face amount of all outstanding Letters of Credit. Any such collateral and/or any amounts received by Mercantile in payment of any Letter of Credit Loan made pursuant to this Section 4.3 shall be held by Mercantile in a separate account at Mercantile appropriately designated as a cash collateral account in relation to this Agreement and the Letters of Credit and retained by Mercantile as collateral security for the payment of the Borrower's Obligations. Cash amounts delivered to Mercantile pursuant to the foregoing requirements of this Section 4.3 shall be invested, at the request and for the account of Borrower, in investments of a type and nature and with a term acceptable to Mercantile. Such amounts, including in the case of cash amounts invested in the manner set forth above, any investment realized thereon, shall not be used by Mercantile to pay any amounts drawn or paid under or pursuant to any Letter of Credit, but may be applied to reimburse Mercantile for drawings or payments under or pursuant to the Letters of Credit which Mercantile has paid, or if no such reimbursement is required shall be delivered to the Agent forfor application to such other of Borrower's

Replacement or Collateralization of Letters of Credit. Notwithstanding any provision contained in this Agreement or any of the Letter of Credit Applications to the contrary, upon the occurrence of any Event of Default under this Agreement, at MercantileAgent's option and without demand or further notice to Borrower, an amount equal to the aggregate undrawn face amount of all Letter(s) of Credit then outstanding shall be deemed (as between Mercantile Issuer and Borrower) to have been paid or disbursed by Mercantile Issuer (notwithstanding that such amounts may not in fact have been so paid or disbursed by MercantileIssuer), and a Letter of Credit Loan Loan(s) to Borrower in such amount amounts to have been made and accepted by Borrower, which Letter of Credit Loan Loan(s) shall be immediately due and payable. Each Bank shall receive its Pro Rata Share of all interest and other amounts due with respect to such Letter of Credit Loan(s) when paid by Borrower to Issuer. In lieu of the foregoing, at the election of MercantileAgent, Borrower Xxxxxxxx shall, upon MercantileAgent's demand, deliver to Mercantile Issuer cash or other collateral acceptable to MercantileIssuer, in its sole and absolute discretion, having a value, as determined by MercantileIssuer, at least equal to the aggregate undrawn face amount of all outstanding Letters of CreditCredit issued by Issuer. Any such collateral and/or any amounts received by Mercantile in payment of any Letter of Credit Loan made Issuer pursuant to this Section 4.3 4.5 shall be held by Mercantile Issuer in a separate account at Mercantile Issuer appropriately designated as a cash collateral account in relation to this Agreement and the Letters Letter of Credit and retained by Mercantile Issuer as collateral security for the payment of the Borrower's Obligations. Cash amounts delivered to Mercantile Issuer pursuant to the foregoing requirements of this Section 4.3 4.5 shall be invested, at the request and for the account of Borrower, in investments of a type and nature and with a term acceptable to MercantileIssuer. Such amounts, including in the case of cash amounts invested in the manner set forth above, any investment realized thereon, shall not be used by Mercantile Issuer to pay any amounts drawn or paid under or pursuant to any Letter of Credit, but may be applied to reimburse Mercantile Issuer for drawings or payments under or pursuant to the Letters of Credit which Mercantile Issuer has paid, or if no such reimbursement is required shall be delivered to the Agent forfor application to such other of Borrower's Obligations as Agent shall determine. Any amounts remaining in any cash collateral account established pursuant to this Section 4.5 after the payment in full of all of the Borrower's Obligations and the expiration or cancellation of all of the Letters of Credit shall be returned to Borrower (after deduction of Issuer's expenses, if any).