Common use of Cash Collateral for Letters of Credit Clause in Contracts

Cash Collateral for Letters of Credit. Promptly on demand by the Fronting Banks or the Administrative Agent from time to time, the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure with respect to the Fronting Banks (after giving effect to Section 2.15(c)) on terms reasonably satisfactory to the Administrative Agent and the Fronting Banks. Any such Cash Collateral shall be deposited in a separate account with the Administrative Agent, subject to the exclusive dominion and control of the Administrative Agent, as collateral (solely for the benefit of the Fronting Banks) for the payment and performance of each Defaulting Lender’s Applicable Percentage of outstanding L/C Obligations. Moneys in such account shall be applied by the Administrative Agent to reimburse the Fronting Banks immediately for each Defaulting Lender’s Applicable Percentage of any drawing under any Letter of Credit which has not otherwise been reimbursed by the Borrower (including, without limitation, through a Loan) or such Defaulting Lender.

Cash Collateral for Letters of Credit. Promptly on demand by the Fronting Banks Issuing Bank or the Administrative Agent from time to time, the Borrower shall deliver to the Administrative Agent Cash Collateral cash collateral in an amount sufficient to cover all Fronting Exposure with respect to the Fronting Banks Issuing Bank (after giving effect to Section 2.15(c2.23(c)) on terms reasonably satisfactory to the Administrative Agent and the Fronting BanksIssuing Bank (and such cash collateral shall be in Dollars). Any such Cash Collateral cash collateral shall be deposited in a separate account with the Administrative Agent, subject to the exclusive dominion and control of the Administrative Agent, as collateral (solely for the benefit of the Fronting BanksIssuing Bank) for the payment and performance of each Defaulting Lender’s Applicable Percentage of outstanding L/C ObligationsExposure. Moneys in such account shall be applied by the Administrative Agent to reimburse the Fronting Banks Issuing Bank immediately for each Defaulting Lender’s Applicable Commitment Percentage of any drawing under any Letter of Credit which has not otherwise been reimbursed by the Borrower (including, without limitation, through a Loan) or such Defaulting Lender.

Cash Collateral for Letters of Credit. Promptly on demand by the Fronting Banks Issuing Bank or the Administrative Agent from time to time, the Borrower Borrowers shall deliver to the Administrative Agent Cash Collateral cash collateral in an amount sufficient to cover all Fronting Exposure with respect to the Fronting Banks Issuing Bank (after giving effect to Section 2.15(c)2.14) on terms reasonably satisfactory to the Administrative Agent and the Fronting BanksIssuing Bank. Any such Cash Collateral cash collateral shall be deposited in a separate account with the Administrative Collateral Agent, subject to the exclusive dominion and control of the Administrative Collateral Agent, as collateral (solely for the benefit of the Fronting BanksIssuing Bank) for the payment and performance of each Defaulting Lender’s Applicable Percentage Pro Rata Share of outstanding L/C Obligationsthe Letter of Credit Usage. Moneys in such account shall be applied by the Administrative Collateral Agent to reimburse the Fronting Banks Issuing Bank immediately for each Defaulting Lender’s Applicable Percentage Pro Rata Share of any drawing under any Letter of Credit which has not otherwise been reimbursed by the Borrower (including, without limitation, through a Loan) Borrowers or such Defaulting Lender.

Cash Collateral for Letters of Credit. Promptly on demand by the Fronting Banks Issuing Bank or the Administrative Agent from time to time, the Borrower Borrowers shall deliver to the Administrative Agent Cash Collateral cash collateral in an amount sufficient to cover all Fronting Exposure with respect to the Fronting Banks Issuing Bank (after giving effect to Section 2.15(c4.4(b)) on terms reasonably satisfactory to the Administrative Agent and the Fronting BanksIssuing Bank (and such cash collateral shall be in United States Dollars). Any such Cash Collateral cash collateral shall be deposited in a separate account with the Administrative Agent, subject to the exclusive dominion and control of the Administrative Agent, as collateral (solely for the benefit of the Fronting BanksIssuing Bank) for the payment and performance of each Defaulting Lender’s 's Applicable Commitment Percentage of outstanding L/C ObligationsLetter of Credit Outstandings. Moneys in such account shall be applied by the Administrative Agent to reimburse the Fronting Banks Issuing Bank immediately for each Defaulting Lender’s 's Applicable Commitment Percentage of any drawing under any Letter of Credit which has not otherwise been reimbursed by the Borrower (including, without limitation, through a Loan) Borrowers or such Defaulting Lender.