Common use of Withdrawals from Collection Account Clause in Contracts

Withdrawals from Collection Account. (a) Provided that: (i) no Default is continuing or would result from a withdrawal from a Collection Account; (ii) no notices have been issued in respect of Overdraft Facilities pursuant to clause 7.2 (Repayment of Overdraft Facilities) (unless all amounts payable under that clause following a Demand Repayment Date (as defined therein) have been repaid in full); and (iii) a withdrawal would not result in the Borrowing Base Amount being zero (0) or a negative number, funds standing to the credit of a Collection Account shall be freely available to the relevant Borrower. The relevant Borrower shall make withdrawals (or allow amounts to be debited from the accounts) only after the Collateral Management Agent has confirmed that the provisions of this clause 25.3(a) have been satisfied in connection therewith. (b) Save as set out in clause 25.3(a), no Obligor may withdraw any amount from or allow any amount to be debited from a Collection Account (except in accordance with paragraph (d) of clause 25.2 (Collection Account)). (c) Without prejudice to clause 25.3(a), any funds which are available to a Borrower pursuant to clause 25.3(a) may: (i) be transferred to an account held with another Lender provided that such funds shall not be applied to a payment due to that Lender under the Finance Documents or under any bilateral agreement in connection with any Ancillary Facility or in connection with any Multi-Party TPA Agreement save as set out in clause 25.3(c)(ii); (ii) where a Borrower proposes to utilise additional Overdraft Facilities from a Facility C Lender but is unable to do so without contravening the conditions described in clause 5.3(ix), be paid by a Borrower to the relevant Facility C Lender in discharge of part of that Facility C Lender's existing Overdraft Facilities to the extent necessary to enable the further Utilisation to be made.

Withdrawals from Collection Account. Subject to Section 2.05, the Trustee shall withdraw from the Collection Account and pay, remit, or transfer when due and payable or otherwise required the following amounts in the following order of priority (a) Provided that:any funds not so transferred or paid are to remain in the Collection Account until subsequently applied pursuant to this Section 5.01(f)): (i) no Default is continuing As directed in writing (or would result orally, confirmed in writing) by the Debtor, any amounts constituting Revenues from a withdrawal from a Collection AccountCollateral other than Receivables to the extent necessary to promptly pay Senior Indebtedness; (ii) no notices have been issued in respect To the trustee, the amount of Overdraft Facilities pursuant to clause 7.2 (Repayment of Overdraft Facilities) (unless all amounts its fee due and payable for performing services under that clause following a Demand Repayment Date (as defined therein) have been repaid in full); andthis Note Agreement; (iii) a withdrawal would not result in To the Borrowing Base Amount being zero (0) or a negative numberServicer and Administrator, funds standing their respective fees due and payable for services performed under the Servicing Agreement and the Administration Agreement with respect to the credit of a Collection Account shall be freely available Collateral following its pledge to the relevant Borrower. The relevant Borrower shall make withdrawals (or allow amounts to be debited from the accounts) only after the Collateral Management Agent has confirmed that the provisions of this clause 25.3(a) have been satisfied in connection therewith. (b) Save as set out in clause 25.3(a), no Obligor may withdraw any amount from or allow any amount to be debited from a Collection Account (except in accordance with paragraph (d) of clause 25.2 (Collection Account)). (c) Without prejudice to clause 25.3(a), any funds which are available to a Borrower pursuant to clause 25.3(a) may: (i) be transferred to an account held with another Lender provided that such funds shall not be applied to a payment due to that Lender under the Finance Documents or under any bilateral agreement in connection with any Ancillary Facility or in connection with any Multi-Party TPA Agreement save as set out in clause 25.3(c)(ii)Trustee hereunder; (iiiv) where a Borrower proposes to utilise additional Overdraft Facilities from a Facility C Lender but is unable to do so without contravening To the conditions described in clause 5.3(ix)Noteholders of Outstanding Notes pro rata, be paid by a Borrower interest on the Notes due on each Interest Payment Date; (v) To the Noteholders of Outstanding Notes pro rata, all principal of each Note then due an payable pursuant to the relevant Facility C Lender in discharge terms of part the Note and this Note Agreement; (vi) To the Acquisition Account as soon as practicable, all recoveries of that Facility C Lender's existing Overdraft Facilities principal on the Collateral constituting a portion of the Revenue as identified to the extent necessary Trustee; (vii) At the option of the Debtor as directed in writing (or orally, confirmed in writing) by the Debtor, to enable the further Utilisation Acquisition Account; (viii) At the option of the Debtor as directed in writing (or orally, confirmed in writing) by the Debtor, to the Debtor, provided that no transfer shall be mademade to the Debtor unless the Debtor certifies to the Trustee before the transfer that immediately after taking into account any such transfer, sum of the amounts on deposit in the Accounts (less moneys in any Account which the Debtor, Servicer, or Administrator is then entitled to receive but which has not yet been removed from the Account) plus the principal amount of the Receivables and the fair market value of other Collateral will be, after taking into account such transfer, at least equal to 100% of the aggregate principal amount of the Outstanding Obligations plus accrued interest.

Withdrawals from Collection Account. (a) Provided that: (i) no Default is continuing or would result from a withdrawal from a Collection Account; (ii) no notices have been issued in respect of Overdraft Facilities pursuant to clause 7.2 (Repayment of Overdraft Facilities) (unless all amounts payable under that clause following a Demand Repayment Date (as defined therein) have been repaid in full); and (iii) a withdrawal would not result in the Borrowing Base Amount being zero (0) or a negative number, funds standing to the credit of a Collection Account shall be freely available to the relevant Borrower. The relevant Borrower shall make withdrawals (or allow amounts to be debited from the accounts) only after the Collateral Management Agent has confirmed that the provisions of this clause 25.3(a) have been satisfied in connection therewith. (b) Save as set out in clause 25.3(a), no Obligor may withdraw any amount from or allow any amount to be debited from a Collection Account (except in accordance with paragraph (d) of clause 25.2 (Collection Account)). (c) Without prejudice to clause 25.3(a), any funds which are available to a Borrower pursuant to clause 25.3(a) may: (i) be transferred to an account held with another Lender provided that such funds shall not be applied to a payment due to that Lender under the Finance Documents or under any bilateral agreement in connection with any Ancillary Facility or in connection with any Multi-Party TPA Agreement or FX Hedging Provider Hedging Agreement save as set out in clause 25.3(c)(ii); (ii) where a Borrower proposes to utilise additional Overdraft Facilities from a Facility C Lender but is unable to do so without contravening the conditions described in clause 5.3(ix), be paid by a Borrower to the relevant Facility C Lender in discharge of part of that Facility C Lender's existing Overdraft Facilities to the extent necessary to enable the further Utilisation to be made.

Withdrawals from Collection Account. The Borrower shall be permitted to make withdrawals of the following amounts from the Collection Account from time to time (a) Provided that:and shall otherwise not make any withdrawals from the Collection Account): (i) no Default is continuing or would result from a withdrawal from a Collection Accountan amount sufficient to ensure that the balance in the Debt Service Reserve Account is, at all times during each Interest Period, at least equal to the Debt Service Reserve Amount for such Interest Period; (ii) no notices have been issued in respect of Overdraft Facilities pursuant an amount sufficient to clause 7.2 (Repayment of Overdraft Facilities) (unless ensure that all amounts interest payable under that clause following a Demand Repayment on each Interest Payment Date (as defined therein) have been repaid is paid in full); and; (iii) an amount sufficient to ensure that all principal payable on each Repayment Date is paid in full; (iv) an amount sufficient to ensure that all fees and other amounts payable under the Loan Documents are paid in full on their respective due dates; (v) an amount equal to the sum of all expenses that have been approved in advance by the Administrative Agent in the Approved Capex and Operating Budget and that have been, or will be, incurred or paid by the Borrower or its Subsidiaries in accordance with the Approved Capex and Operating Budget; (vi) after giving effect to Sections 6.13(c)(i) through Section 6.13(c)(v) above, an amount not exceeding $250,000 in any calendar month (or such other amount as may be agreed to by the Administrative Agent from time to time in its discretion) to be used by the Borrower for its working capital and general and administrative purposes and in accordance with the terms of this Agreement, provided that the Borrower shall not be permitted to make a withdrawal under this Section 6.13(c)(vi) if a Default has then occurred and is continuing, or would not result therefrom; and NYI-4016648v10 50 (vii) after giving effect to Sections 6.13(c)(i) through Section 6.13(c)(vi), if the Borrower notifies the Administrative Agent that, or if the Administrative Agent reasonably determines that, Excess Cash Flow is present in respect of any Fiscal Quarter (commencing with the Borrowing Base Amount being zero Fiscal Quarter ending October 31, 2008) (0) such notice or a negative numberdetermination to be in accordance with Section 2.4(b)(ii)), funds standing to the credit of a Collection Account shall be freely available to the relevant Borrower. The relevant Borrower shall make withdrawals (or allow amounts withdraw an amount equal to be debited from the accounts) only after the Collateral Management Agent has confirmed that the provisions 25% of this clause 25.3(a) have been satisfied in connection therewith. (b) Save as set out in clause 25.3(a)such Excess Cash Flow, no Obligor may withdraw any amount from or allow any such amount to be debited from a Collection Account (except disbursed in accordance with paragraph (d) of clause 25.2 (Collection Account)Section 2.4(b)(ii). (c) Without prejudice to clause 25.3(a), any funds which are available to a Borrower pursuant to clause 25.3(a) may: (i) be transferred to an account held with another Lender provided that such funds shall not be applied to a payment due to that Lender under the Finance Documents or under any bilateral agreement in connection with any Ancillary Facility or in connection with any Multi-Party TPA Agreement save as set out in clause 25.3(c)(ii); (ii) where a Borrower proposes to utilise additional Overdraft Facilities from a Facility C Lender but is unable to do so without contravening the conditions described in clause 5.3(ix), be paid by a Borrower to the relevant Facility C Lender in discharge of part of that Facility C Lender's existing Overdraft Facilities to the extent necessary to enable the further Utilisation to be made.