Common use of Right to Withdraw All Clause in Contracts

Right to Withdraw All. or Portion of Initial Cash Collateral ----------------------------------------------------------- Deposit. After the Guarantor has made or caused to be made the December, ------- 2000 Cash Collateral Deposit, the Guarantor shall be entitled, within two Business Days after any Director Borrower Paydown (but only with respect to a Director Borrower Paydown and not with respect to any other Borrower Paydown), to receive a distribution from the Collateral Agent from the Cash Collateral Deposits, on a dollar-for-dollar basis and up to the aggregate amount that is equal to and not in excess of the Initial Cash Collateral Deposit, of immediately available funds in an amount not to exceed the amount of the Cash Collateral Deposits allocated to the Borrower's Loan(s) under the Specified D&O Facility against which such Director Borrower Paydown is to be applied; provided, however, that any amount permitted to -------- ------- be so withdrawn shall be paid directly to the administrative agent under the $1.5 Billion Facility for application against the Guarantor's principal obligations thereunder in the inverse order of maturity.

Appears in 4 contracts

Samples: 1997 Director & Officer Loan Credit Agreement (Conseco Inc), Loan Agreement (Conseco Inc), 1997 Director & Officer Loan Credit Agreement (Conseco Inc)

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