Common use of Right to Give Drawdown Notices Clause in Contracts

Right to Give Drawdown Notices. In furtherance of the foregoing, if any Lender becomes, and during the period it remains, a Defaulting Lender, the Issuer is hereby authorized by any Borrower (which authorization is irrevocable and coupled with an interest) to give, in its discretion, through the Administrative Agent, notices of Borrowing pursuant to Section 2.03 in such amounts and at the rate of interest applicable during such period to Loans that are Base Rate Loans and in such times as may be required to (i) pay matured Reimbursement Obligations and/or (ii) deposit in a cash collateral account maintained by the Administrative Agent the obligations of such Borrower in respect of outstanding Letters of Credit in an amount at least equal to the aggregate amount of the obligations (contingent or otherwise) of such Defaulting Lender in respect of such Letter of Credit.

Right to Give Drawdown Notices. In furtherance of the foregoing, if any Lender becomes, and during the period it remains, a Defaulting Lender or a Potential Defaulting Lender, the Issuer Issuing Bank is hereby authorized by any the Borrower (which authorization is irrevocable and coupled with an interest) to give, in its discretion, through the Administrative Agent, notices Notices of Borrowing pursuant to Section 2.03 in such amounts and at the rate of interest applicable during such period to Loans that are Base Rate Loans and in such times as may be required to (i) pay matured Reimbursement Obligations and/or reimburse an outstanding disbursement made with respect to a Letter of Credit, or (ii) deposit in a cash collateral account maintained by into the Administrative Agent the obligations of such Borrower in respect of outstanding Letters of Credit in Cash Collateral Account an amount equal to at least equal to the aggregate amount of the obligations (contingent or otherwise) of such Defaulting Lender or Potential Defaulting Lender in respect of such each outstanding Letter of Credit.

Right to Give Drawdown Notices. In furtherance of the foregoing, if any Lender becomes, and during the period it remains, a Defaulting Lender or a Potential Defaulting Lender, each of the Issuer Issuing Bank is hereby authorized by any the Borrower (which authorization is irrevocable and coupled with an interest) to give, in its discretion, through the Administrative Agent, notices Notices of Borrowing pursuant to Section 2.03 in such amounts and at the rate of interest applicable during such period to Loans that are Base Rate Loans and in such times as may be required to (iA) pay matured Reimbursement Obligations reimburse an outstanding LC Disbursement, and/or (iiB) deposit in a cash collateral account maintained by the Administrative Agent Cash Collateralize the obligations of such the Borrower in respect of outstanding Letters of Credit in an amount at least equal to the aggregate amount of the obligations (contingent or otherwise) of such Defaulting Lender or Potential Defaulting Lender in respect of such Letter of Credit.

Right to Give Drawdown Notices. In furtherance of the foregoing, if any Lender Bank becomes, and during the period it remains, a Defaulting Lender or a Potential Defaulting Lender, the Issuer each Issuing Bank is hereby authorized by any the Borrower (which authorization is irrevocable and coupled with an interest) to give, in its discretion, through the Administrative Agent, notices Notices of Revolving Credit Borrowing pursuant to Section 2.03 2.02 in such amounts and at the rate of interest applicable during such period to Loans that are Base Rate Loans and in such times as may be required to (i) pay matured Reimbursement Obligations reimburse an unreimbursed drawing under any outstanding Letter of Credit and/or (ii) deposit in a cash collateral account maintained by the Administrative Agent Cash Collateralize the obligations of such the Borrower in respect of outstanding Letters of Credit in an amount at least equal to the aggregate amount of the obligations (contingent or otherwise) of such Defaulting Lender or Potential Defaulting Lender in respect of such Letter of Credit.