Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Termination Date, and any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such date. (ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).
Appears in 15 contracts
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Revolving Termination Date, and any Revolving Loans, Swingline Loans and or Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii2.08(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”)Commitments, the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on ), such date, date an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excessexcess. If, at a time when a Revolving Outstandings Excess exists and (x) no If the outstanding Revolving Loans have been repaid in full or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement and, in either case, Revolving Termination Date shall have occurred and any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into in a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal such amounts as are necessary so that, after giving effect to the then outstanding repayment of Revolving Loans and the cash collateralization of Letter of Credit LiabilitiesLiabilities pursuant to this subsection, the aggregate Revolving Outstandings do not exceed the aggregate amount of the Revolving Commitments. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 7 contracts
Samples: Five Year Credit Agreement (PPL Electric Utilities Corp), Five Year Credit Agreement (PPL Energy Supply LLC), Credit Agreement (PPL Electric Utilities Corp)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Termination Date, and any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).
Appears in 3 contracts
Samples: Revolving Credit Agreement (PPL Electric Utilities Corp), Revolving Credit Agreement (PPL Corp), Revolving Credit Agreement (PPL Corp)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i1) The 2026 Revolving Loans shall mature on the 2026 Termination Date, and any 2026 Revolving Loans then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable and (2) The 2027 Revolving Loans shall mature on the 2027 Termination Date, and any 2027 Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such datethe 2027 Termination Date.
(ii) If on any date the aggregate 2026 Revolving Outstandings exceed the aggregate amount of the 2026 Revolving Commitments (such excess, a “2026 Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of 2026 Revolving Loans and/or Swingline Loans equal to such 2026 Revolving Outstandings Excess. If on any date the aggregate 2027 Revolving Outstandings exceed the aggregate amount of the 2027 Revolving Commitments (such excess, a “2027 Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of 2027 Revolving Loans and/or Swingline Loans equal to such 2027 Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).equal
Appears in 3 contracts
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Revolving Termination Date, and any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable (unless such Revolving Loans and Swingline Loans are converted to Term Loans pursuant to Section 2.20) or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Revolving Commitments (such excess, a “Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Revolving Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).
(iii) The Term Loans shall mature on the Term Loan Maturity Date, and any Term Loans then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable.
Appears in 2 contracts
Samples: Five Year Credit Agreement (PPL Energy Supply LLC), Five Year Credit Agreement (PPL Energy Supply LLC)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Revolving Termination Date or the Term Loan Maturity Date, as applicable, and any Revolving Loans, Swingline Loans and or Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii2.08(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”)Commitments, the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on ), such date, date an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excessexcess. If, at a time when a Revolving Outstandings Excess exists and (x) no If the outstanding Revolving Loans have been repaid in full or Swingline Loans are outstanding the Revolving Termination Date or (y) the Commitment has been terminated pursuant to this Agreement andTerm Loan Maturity Date, in either caseas applicable, shall have occurred and any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into in a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal such amounts as are necessary so that, after giving effect to the then outstanding repayment of Revolving Loans and the cash collateralization of Letter of Credit LiabilitiesLiabilities pursuant to this subsection, the aggregate Revolving Outstandings do not exceed the aggregate amount of the Revolving Commitments. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 2 contracts
Samples: Credit Agreement (PPL Montana LLC), 364 Day Credit Agreement (PPL Montana LLC)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Revolving Termination Date or the Term Loan Maturity Date, as applicable, and any Revolving Loans, Swingline Loans and or Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such datepayable.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”)Commitment, the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on ), such date, date an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excessexcess. If, at a time when a Revolving Outstandings Excess exists and (x) no If the outstanding Revolving Loans have been repaid in full or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement and, in either case, Revolving Termination Date shall have occurred and any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into in a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent Lender pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal Lender such amounts as are necessary so that, after giving effect to the then outstanding repayment of Revolving Loans and the cash collateralization of Letter of Credit LiabilitiesLiabilities pursuant to this subsection, the aggregate Revolving Outstandings do not exceed the aggregate amount of the Revolving Commitments. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 2 contracts
Samples: Credit Agreement (PPL Electric Utilities Corp), Credit Agreement (PPL Electric Utilities Corp)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i1) The 2026 Revolving Loans shall mature on the 2026 Termination Date, and any 2026 Revolving Loans then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable and (2) The 2027 Revolving Loans shall mature on the 2027 Termination Date, and any 2027 Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such datethe 2027 Termination Date.
(ii) If on any date the aggregate 2026 Revolving Outstandings exceed the aggregate amount of the 2026 Revolving Commitments (such excess, a “2026 Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of 2026 Revolving Loans and/or Swingline Loans equal to such 2026 Revolving Outstandings Excess. If on any date the aggregate 2027 Revolving Outstandings exceed the aggregate amount of the 2027 Revolving Commitments (such excess, a “2027 Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of 2027 Revolving Loans and/or Swingline Loans equal to such 2027 Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).
Appears in 2 contracts
Samples: Revolving Credit Agreement, Revolving Credit Agreement
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The All Revolving Loans which are not Letter of Credit Loans shall mature on the Revolving Maturity Date, and such Revolving Loans then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable on such date. All Revolving Loans which are Letter of Credit Loans shall mature on the Termination Date, and such Revolving Loans or any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii2.08(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”)Commitments, the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on ), such date, date an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excessexcess. If, at a time when a Revolving Outstandings Excess exists and If (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement Termination Date shall have occurred and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, then the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into in a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in such amounts as are necessary so that, after giving effect to any repayment of Revolving Loans and the cash equal to the then outstanding collateralization of Letter of Credit LiabilitiesLiabilities pursuant to this subsection, the aggregate Revolving Outstandings do not exceed the aggregate amount of the Revolving Commitments. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 1 contract
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Revolving Termination Date, and any Revolving Loans, Swingline Loans and or Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii2.08(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Revolving Commitments (such excess, a “Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and exists, (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement Revolving Termination Date shall have occurred and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 1 contract
Samples: Five Year Credit Agreement (PPL Electric Utilities Corp)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Termination Date, and any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Revolving Commitments (such excess, a “Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Revolving Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).
Appears in 1 contract
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Revolving Termination Date, and any Revolving Loans, Swingline Loans and or Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii2.08(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Revolving Commitments (such excess, a “Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and exists, (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement Revolving Termination Date shall have occurred and, in either case, any Letter of Credit Liabilities remain outstanding, then, then in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 1 contract
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Termination Date, and any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such date.
(ii) If on any date (i) the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments or (ii) the Borrower Revolving Outstandings of any Borrower exceed such Borrower’s Sublimit (such excessexcess in each case, a “Revolving Outstandings Excess”), the applicable Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the each Borrower shall cash collateralize any Letter of Credit Liabilities attributable to Letters of Credit issued for the account of such Borrower by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).
Appears in 1 contract
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Termination Date, and any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Revolving Commitments (such excess, a “Revolving Outstandings Excess”), the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excess. If, at a time when a Revolving Outstandings Excess exists and (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Revolving Commitment has been terminated pursuant to this Agreement and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in cash equal to the then outstanding Letter of Credit Liabilities. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii).
(iii) If a Lender at any time becomes a Defaulting Lender and the aggregate Revolving Outstandings of all Lenders at such time exceed an amount equal to the total of (A) the aggregate Revolving Commitments of all Lenders minus (B) such Defaulting Lender’s Revolving Commitment plus (C) the aggregate principal amount of such Defaulting Lender’s Revolving Outstandings in respect of Revolving Loans, then the Borrower shall promptly (and in any event within three Business days) prepay Revolving Loans and/or cash collateralize any Letter of Credit Liabilities (as set forth in Section 2.09(a)(ii)) in an amount sufficient to eliminate such excess. Except for the mandatory nature thereof, any prepayments of Revolving Loans shall be subject to the provisions of Section 2.10 (a) (provided that any such prepayment may be in any amount that is an integral multiple of $1,000,000). If the circumstances giving rise to the requirement that the Borrower cash collateralize any Letter of Credit Liabilities pursuant to this Section 2.09(a)(iii) cease to exist, then the Administrative Agent shall promptly return such cash collateral to the Borrower.
Appears in 1 contract
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving All Loans shall mature on the Termination Date, and such Loans or any Revolving Loans, Swingline Loans and Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters the Letter of Credit, cash collateralized pursuant to Section 2.09(a)(ii2.08(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”)Commitments, the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) ), on such date, date an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excessexcess. If, at a time when a Revolving Outstandings Excess exists and If (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement Termination Date shall have occurred and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into in a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in such amounts as are necessary so that, after giving effect to any repayment of Loans and the cash equal to the then outstanding collateralization of Letter of Credit LiabilitiesLiabilities pursuant to this subsection, the aggregate Outstandings do not exceed the aggregate amount of the Commitments. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 1 contract
Samples: Letter of Credit and Reimbursement Agreement (PPL Energy Supply LLC)
Scheduled Repayments and Prepayments of Loans; Overline Repayments. (i) The Revolving Loans shall mature on the Revolving Termination Date, and any Revolving Loans, Swingline Loans and or Letter of Credit Liabilities then outstanding (together with accrued interest thereon and fees in respect thereof) shall be due and payable or, in the case of Letters of Credit, cash collateralized pursuant to Section 2.09(a)(ii2.08(a)(ii), on such date.
(ii) If on any date the aggregate Revolving Outstandings exceed the aggregate amount of the Commitments (such excess, a “Revolving Outstandings Excess”)Commitments, the Borrower shall prepay, and there shall become due and payable (together with accrued interest thereon) on such date, an aggregate principal amount of Revolving Loans and/or Swingline Loans equal to such Revolving Outstandings Excessexcess. If, at a time when a Revolving Outstandings Excess exists and If (x) no Revolving Loans or Swingline Loans are outstanding or (y) the Commitment has been terminated pursuant to this Agreement Revolving Termination Date shall have occurred and, in either case, any Letter of Credit Liabilities remain outstanding, then, in either case, the Borrower shall cash collateralize any Letter of Credit Liabilities by depositing into in a cash collateral account established and maintained (including the investments made pursuant thereto) by the Administrative Agent pursuant to a cash collateral agreement in form and substance satisfactory to the Administrative Agent an amount in such amounts as are necessary so that, after giving effect to any repayment of Revolving Loans and the cash equal to the then outstanding collateralization of Letter of Credit LiabilitiesLiabilities pursuant to this subsection, the aggregate Revolving Outstandings do not exceed the aggregate amount of the Revolving Commitments. In determining Revolving Outstandings for purposes of this clause (ii), Letter of Credit Liabilities shall be reduced to the extent that they are cash collateralized as contemplated by this Section 2.09(a)(ii2.08(a)(ii).
Appears in 1 contract