Common use of Shortfall in XX Xxxx Collateral Account Clause in Contracts

Shortfall in XX Xxxx Collateral Account. If for any reason other than the gross negligence or willful misconduct of the Revolving Agent as determined by a final, non-appealable judgment of a court of competent jurisdiction, the XX Xxxx Collateral Account is less than the amount owing with respect to a letter of credit described in paragraph (e) above, then the First Lien Purchasing Parties will, in proportion to their interests, promptly reimburse the Revolving Agent (who will then pay the applicable issuer) the amount of such deficiency.

Appears in 4 contracts

Samples: Intercreditor Agreement (Alion Science & Technology Corp), Intercreditor Agreement (Alion Science & Technology Corp), Intercreditor Agreement (Alion - BMH CORP)

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