Common use of Termination of Requirement Clause in Contracts

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce the Issuing Bank’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.07(j) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and the Issuing Bank that there exists excess Cash Collateral; provided that, subject to Section 4.04, the Person providing Cash Collateral and the Issuing Bank may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; and provided further that to the extent that such Cash Collateral was provided by the Borrower, such Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to an LC Exposure in connection with any prepayment pursuant to Section 3.04(b)(i), then such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all Events of Default have been cured or waived.

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce the Issuing Bankany Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.07(j) 2.17, and shall be returned to the Person that provided such Cash Collateral not later than three Business Days after such Person’s request, in each case following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender Bank status of the applicable LenderBank in accordance with Section 2.18(b)), or (Bii) the determination by the Administrative Agent and the Issuing Bank each Issuer that there exists excess Cash Collateral; provided that, subject to Section 4.042.18 (including any agreement pursuant thereto whereby a Defaulting Bank agrees to maintain Cash Collateral with the Administrative Agent as a condition to such Defaulting Bank ceasing to be deemed a Defaulting Bank), the Person providing Cash Collateral and the Issuing Bank each Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; and provided further that to obligations (and, in the extent that case of any such Cash Collateral that was provided by the BorrowerCompany and will be so held, such Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to an LC Exposure in connection with any prepayment pursuant to Section 3.04(b)(ihereunder), then such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all Events of Default have been cured or waived.

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce the Issuing BankLC Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.07(j2.22(d) following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and the Issuing Bank LC Issuer that there exists excess Cash Collateral; provided that, subject to this Section 4.04, 2.22 the Person providing Cash Collateral and the Issuing Bank LC Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; . So long as no Event of Default is then outstanding, if both the Borrower and the Defaulting Lender have provided further that to the extent that such Cash Collateral, any Cash Collateral was provided by the Borrower, such Cash Collateral shall remain subject no longer required to the security interest granted be held pursuant to the Loan Documents. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to an LC Exposure in connection with any prepayment pursuant to this Section 3.04(b)(i), then such amount (to the extent not applied as aforesaid2.22(d) shall be returned first to the Borrower within three until it has received all Cash Collateral provided by it (3together with any interest or income accrued or earned thereon) Business Days after all Events of Default have been cured or waivedand second to the Defaulting Lender.

Termination of Requirement. Cash Collateral provided upon an Event of Default or pursuant to Section 2.09(b) shall no longer be required to be held as Cash Collateral pursuant to this Section 2.04(k) following the earlier of the satisfaction, waiver or cure of all Events of Default or the termination of all outstanding Letters of Credit, as applicable. Cash Collateral (or the appropriate portion thereof) provided to reduce the any Issuing BankLender’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.07(j2.04(k) following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and the each Issuing Bank Lender that there exists excess Cash Collateral; provided that, subject to Section 4.04, 2.18 the Person providing Cash Collateral and the each Issuing Bank Lender may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; . The Administrative Agent shall invest the Cash Collateral from time to time held by it in such overnight U.S. treasury or similar short-term instruments as are selected by ODEC and provided further that approved by the Administrative Agent, and shall maintain records adequate to determine the interest from time to time earned thereon. The Administrative Agent shall have no responsibility for any loss on any investments made by it with respect to the extent that such Cash Collateral was Collateral. Interest and profits on investments will be credited to and, except as otherwise provided by the Borrowerin this Section 2.04, such retained as Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to an LC Exposure in connection with any prepayment pursuant to Section 3.04(b)(i), then such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all Events of Default have been cured or waivedCollateral.

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce the any Issuing Bank’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.07(j) 4.7 following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), and upon the occurrence of such event and written notice to the Administrative Agent from the Borrower, the Cash Collateral provided by the Borrower shall be promptly returned to the Borrower, in each case, free and clear of all Liens, or (Bii) the determination by the Administrative Agent and the each Issuing Bank that there exists excess Cash Collateral, and upon the occurrence of such event and written notice to the Administrative Agent from the Borrower, such excess Cash Collateral shall be promptly returned to the Borrower, in each case, free and clear of all Liens, to the extent such amount was provided by the Borrower; provided that, subject to Section 4.04, 4.8 the Person providing Cash Collateral and the each Issuing Bank may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; obligations and provided further that to the extent that such Cash Collateral was provided by the Borrower, such Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to an LC Exposure in connection with any prepayment pursuant to Section 3.04(b)(i), then such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all Events of Default have been cured or waived.