Common use of Withdrawal of Cash Collateral Upon the Occurrence and During the Continuance of an Event of Default Clause in Contracts

Withdrawal of Cash Collateral Upon the Occurrence and During the Continuance of an Event of Default. Upon the occurrence and during the continuance of an Event of Default, without any instruction or request of LRC, BTMUCLF may withdraw and retain any Cash Collateral held by any Deposit Taker (which retention by BTMUCLF shall be free and clear of all liens and security interests hereunder and any rights of LRC thereto shall be released, terminated and waived without further action) as a payment on behalf of LRC of any amounts then due from LRC under Article XVIII of the Lease. To the extent BTMUCLF has exercised its rights and remedies thereunder and has indefeasibly satisfied the Secured Obligations in full in accordance with Article XVIII of the Lease, LRC may require BTMUCLF to withdraw and promptly pay to LRC any Cash Collateral still held by any Deposit Taker.