Common use of Termination of Requirement Clause in Contracts

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any Issuing Bank’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.08(k) following (i) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (ii) the determination by the Administrative Agent and each Issuing Bank that there exists excess Cash Collateral; provided that, subject to Section 2.09 the Person providing Cash Collateral and each Issuing Bank may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; provided further that to the extent that such Cash Collateral was provided by the Borrower, such amount shall cease to be Cash Collateral and shall be returned to the Borrower within three Business Days after such Cash Collateral shall no longer be required to be held pursuant to this Section 2.08(k) and the Administrative Agent shall no longer shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account (except to the extent otherwise provided by the Loan Documents).

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any Issuing Bankan L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.08(k) 1.17 following (iA) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (iiB) the determination by the Administrative Agent and each Issuing Bank the applicable L/C Issuer that there exists excess Cash Collateral; provided that, subject to Section 2.09 that the Person providing Cash Collateral and each Issuing Bank the applicable L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; provided further . So long as no Default or Event of Default shall have occurred and be continuing, upon determining that to the extent that such Cash Collateral was provided by the Borrower, such amount shall cease to be Cash Collateral and shall be returned to the Borrower within three Business Days after such Cash Collateral shall no longer be required to be held pursuant to provided under this Section 2.08(k) and 1.17 or that excess Cash Collateral exists, upon the Borrower's request, the Administrative Agent shall no longer shall have exclusive dominion and control, including promptly return the exclusive right of withdrawal, over such account Cash Collateral (except or excess portion) to the extent otherwise provided by the Loan Documents)Borrower.

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any Issuing Bank’s Fronting Exposure or other obligations shall no longer be required to be held as Cash Collateral pursuant to this Section 2.08(k) released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of the Defaulting Lender status of the applicable LenderLender (or, as appropriate, its assignee following compliance with Section 12.06(h)), or (ii) the determination by the Administrative Agent and each Issuing Bank that there exists excess Cash Collateral; provided thatthat (A) Cash Collateral furnished by or on behalf of the Borrowers shall not be released during the continuance of a Default under Section 10.01(a), subject to (e), (f) or (g) or an Event of Default (and following application as provided in this Section 2.09 may be otherwise applied in accordance with Section 10.03) and (B) the Person providing Cash Collateral and each the applicable Issuing Bank Bank(s) or Swingline Lender(s) may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; provided further that to the extent that such Cash Collateral was provided by the Borrower, such amount shall cease to be Cash Collateral and shall be returned to the Borrower within three Business Days after such Cash Collateral shall no longer be required to be held pursuant to this Section 2.08(k) and the Administrative Agent shall no longer shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account (except to the extent otherwise provided by the Loan Documents)obligations hereunder.

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any Issuing Bank’s Fronting LC Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.08(k2.04(j)(ii) and shall be returned by the Administrative Agent to the Borrower (or if posted by the Defaulting Lender, and not otherwise applied by the Administrative Agent in accordance with this Agreement, to the Defaulting Lender) following (i) the elimination of the applicable Fronting LC Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (ii) the determination by the Administrative Agent and each Issuing Bank that there exists excess Cash Collateral; provided that, subject to Section 2.09 2.22 the Person providing Cash Collateral and each Issuing Bank may agree that Cash Collateral shall be held to support future anticipated Fronting LC Exposure or other obligations; obligations and provided further that to the extent that such Cash Collateral was provided by the Borrower, such amount shall cease to be Cash Collateral and shall be returned to the Borrower within three Business Days after such Cash Collateral shall no longer be required remain subject to be held the security interest granted pursuant to this Section 2.08(k) and the Administrative Agent shall no longer shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account (except to the extent otherwise provided by the Loan Documents).