Common use of Xxxx to Market Clause in Contracts

Xxxx to Market. If, on any day, the equivalent in Dollars of the aggregate face amount of all Letters of Credit then outstanding (less the aggregate amount of cash collateral held by all the Issuing Banks with respect to outstanding Letters of Credit) exceeds the total of (x) the Commitments then in effect minus (y) the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), the Borrower shall, upon demand by the Agent, immediately deposit into the L/C Collateral Account, in Dollars, (i) the Dollar amount of such excess plus (ii) a Dollar amount equal to the lesser of (A) $1,000,000 and (B) 10% of the Dollar equivalent of all then existing Letter of Credit Liability relating to Letters of Credit denominated in Alternative Currencies, which amount shall be held by the Agent as cash collateral for the Borrowers’ and LC Subsidiaries’ obligations with respect to outstanding Letters of Credit. Amounts on deposit with the Agent as cash collateral in the L/C Collateral Account shall (so long as no Default has occurred and is continuing) be released to the Borrower (1) if the Termination Date has not occurred, on the date on which the aggregate of all Letter of Credit Liability does not exceed 99% of the aggregate amount of the Commitments then in effect (without regard to any usage thereof) minus the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), or (2) if the Termination Date has occurred, in accordance with Section 3.14.

Xxxx to Market. If, on any day, the equivalent in Dollars of the aggregate face amount of all Letters of Credit then outstanding (less the aggregate amount of cash collateral held by all the Issuing Banks with respect to outstanding Letters of Credit) exceeds the total of (x) the Commitments then in effect minus (y) the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), the Borrower shall, upon demand by the Agent, immediately deposit into the L/C Collateral AccountAccount (as defined in the Security Agreement) held by the Collateral Agent, in Dollars, (i) the Dollar amount of such excess plus (ii) a Dollar amount equal to the lesser of (A) $1,000,000 and (B) 10% of the Dollar equivalent of all then existing Letter of Credit Liability relating to Letters of Credit denominated in Alternative Currencies, which amount shall be held by the Collateral Agent in accordance with the terms of the Security Agreement as cash collateral for the Borrowers’ ' and LC Subsidiaries’ ' obligations with respect to outstanding Letters of Credit. Amounts on deposit with the Collateral Agent as cash collateral in the L/C Collateral Account shall be invested as provided in the Security Agreement and shall (so long as no Default has occurred and is continuing) be released to the Borrower (1) if the Termination Date has not occurred, on the date on which the aggregate of all Letter of Credit Liability does not exceed 99% of the aggregate amount of the Commitments then in effect (without regard to any usage thereof) minus the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), or (2) if the Termination Date has occurred, in accordance with Section 3.143.15 hereof.

Xxxx to Market. If, on any day, the equivalent in Dollars of the -------------- aggregate face amount of all Letters of Credit then outstanding (less the aggregate amount of cash collateral held by all the Issuing Banks with respect to outstanding Letters of Credit) exceeds the total of (x) the LC Commitments then in effect minus (y) the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), the Borrower shall, upon demand by the Agent, immediately deposit into the L/C Collateral AccountAccount (as defined in the Security Agreement) held by the Collateral Agent, in Dollars, (i) the Dollar amount of such excess plus (ii) a Dollar amount equal to the lesser of (A) $1,000,000 and (B) 10% of the Dollar equivalent of all then existing Letter of Credit Liability relating to Letters of Credit denominated in Alternative Currencies, which amount shall be held by the Collateral Agent in accordance with the terms of the Security Agreement as cash collateral for the Borrowers’ ' and LC Subsidiaries’ ' obligations with respect to outstanding Letters of Credit. Amounts on deposit with the Collateral Agent as cash collateral in the L/C Collateral Account shall be invested as provided in the Security Agreement and shall (so long as no Default has occurred and is continuing) be released to the Borrower (1) if the Termination Date has not occurred, on the date on which the aggregate of all Letter of Credit Liability does not exceed 99% of the aggregate amount of the LC Commitments then in effect (without regard to any usage thereof) minus the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), or (2) if the Termination Date has occurred, in accordance with Section 3.143.15.

Xxxx to Market. If, on any day, the equivalent in Dollars of the aggregate face amount of all Letters of Credit then outstanding (less the aggregate amount of cash collateral held by all the Issuing Banks Bank with respect to outstanding Letters of Credit) exceeds the total of (x) the Commitments then in effect minus (y) the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage)LC Commitments, the Borrower shall, upon demand by the Agent, immediately deposit into pay to the L/C Collateral AccountIssuing Bank, in Dollars, (i) the Dollar amount of such excess plus (ii) a Dollar amount equal to the lesser of (A) $1,000,000 and (B) 10% of the Dollar equivalent of all then existing Letter of Credit Liability relating to Letters of Credit denominated in Alternative Currencies, which amount shall be held by the Agent Issuing Bank as cash collateral for the Borrowers’ and LC Subsidiaries’ its obligations with respect to outstanding Letters of Credit. Concurrently with such payment, the Borrower shall enter into a cash collateral agreement with the Issuing Bank in form and substance satisfactory to the Issuing Bank. Amounts on deposit with the Agent Issuing Bank as cash collateral shall be invested in Cash Equivalents as directed by the L/C Collateral Account Borrower and shall (so long as no Default has occurred and is continuing) be released to the Borrower (1) if the LC Termination Date has not occurred, on the date on which the aggregate of all Letter of Credit Liability does not exceed 99% of the aggregate amount of the LC Commitments then in effect (without regard to any usage thereof) minus the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), or (2) if the LC Termination Date has occurred, in accordance with Section 3.14on the first day after the LC Termination Date on which no Letters of Credit are outstanding.