Examples of Combined Obligations in a sentence
If any amounts are held on deposit as cash collateral for any Combined Obligation in respect of Letters of Credit (as defined in either Combined Credit Agreement) and such Combined Obligation ceases to be contingent, any funds held as cash collateral up to the amount of such Combined Obligations which has become fixed shall be distributed pro rata to the holders of such Combined Obligation (or if such Letters of Credit are not fully cash collateralized, then a pro rata distribution shall be made).
If any Collateral or security shall be taken in respect of any of the Combined Obligations, the rights of the Creditors with regard to such Collateral or security shall be exercised through the Global Administrative Agent in accordance with this Agreement.