Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 8.1 then, unless all Lenders otherwise specifically elect to the contrary (which election may thereafter be retracted by all Lenders at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding to be held as LC Collateral.
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 8.1 then, unless Majority Lenders otherwise specifically elect to the contrary (which election may thereafter be retracted by Majority Lenders at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding. All amounts so paid shall first be applied to Matured LC Obligations and then held by LC Issuer as LC Collateral until such LC Obligations become Matured LC Obligations, at which time such LC Collateral shall be applied to such Matured LC Obligations.
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 8.02 then, unless the Administrative Agent, acting on the instruction of Majority Lenders, shall otherwise specifically elect to the contrary (which election may thereafter be retracted by the Administrative Agent, acting on the instruction of Majority Lenders, at any time), the Borrower shall be obligated to pay to LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding to be held as LC Collateral. Nothing in this subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral or LC Obligation, including any LC Application, or any rights which LC Issuer or any Lender may have to otherwise apply any payments by the Borrower and any LC Collateral under Section 2.14.
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 9.1 then, unless Lender otherwise specifically elects to the contrary (which election may thereafter be retracted by Lender at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to Lender immediately an amount equal to the aggregate LC Obligations which are then outstanding, which amount shall be held by Lender as LC Collateral securing the remaining LC Obligations and the other Obligations, and such LC Collateral may be applied from time to time to any Matured LC Obligations or any other Obligations which are due and payable.
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 7.1 then, unless Majority Lenders otherwise specifically elect to the contrary (which election may thereafter by retracted by Majority Lenders at any time), all L/C Exposure shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to L/C Issuer immediately an amount equal to the aggregate L/C Exposure and Reimbursement Obligations which are then outstanding. All amounts so paid shall be applied first to Reimbursement Obligations and then held by L/C Issuer as L/C Collateral until such LC Exposure becomes Reimbursement Obligations, at which time such L/C Collateral shall be applied to such Reimbursement Obligations. Pending application thereof, all L/C Collateral shall be invested by L/C Issuer in such investments as L/C Issuer may choose in its sole discretion. All interest on such investments shall be reinvested or applied to Reimbursement Obligations. When all Obligations have been satisfied in full, including all L/C Exposure and Reimbursement Obligations, and all Letters of Credit have expired or been terminated, L/C Issuer shall release any remaining L/C Collateral to Borrower. Borrower hereby assigns and grants to L/C Issuer a continuing security interest in all L/C Collateral paid by it to L/C Issuer, all investments purchased with such L/C Collateral, and all proceeds thereof to secure its Reimbursement Obligations and its Obligations under this Agreement, the Note, and the other Loan Documents, and Borrower agrees that such L/C Collateral and investments shall be subject to all of the terms and conditions of the Security Instruments. Borrower further agrees that L/C Issuer shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in the applicable State with respect to such security interest and that an Event of Default under this Agreement shall constitute a default for purposes of such security interest. When Borrower is required to provide L/C Collateral for any reason and fails to do so on the day when required, L/C Issuer may without notice to Borrower or any other Related Person provide such L/C Collateral (whether by application of proceeds of other Collateral, by transfers from other accounts maintained with L/C Issuer, or otherwise) using any available funds of Borrower or any ...
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 9, then all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and the Company shall be obligated to pay to LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding. All amounts so paid shall first be applied to Matured LC Obligations and then held by LC Issuer as LC Collateral until such LC Obligations become Matured LC Obligations, at which time such LC Collateral shall be applied to such Matured LC Obligations.
Acceleration of LC Obligations. On the maturity date of the Notes, or if the Loans or either of them becomes immediately due and payable pursuant to the Loan Documents, then, unless Lender otherwise specifically elects to the contrary, all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to Lender immediately an amount equal to the aggregate LC Obligations which are then outstanding. All amounts so paid shall first be applied to Matured LC Obligations and the remainder will be held by Lender as security for the remaining LC Obligations (all such amounts held as security for LC Obligations being herein collectively called "LC Collateral") until such LC Obligations become Matured LC Obligations, at which time such LC Collateral shall be applied to such Matured LC Obligations.
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 8.1 then, all LC Obligations shall become immediately due and
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 8.1 then, unless the Administrative Agent, acting on the instruction of Majority Lenders, shall otherwise specifically elect to the contrary (which election may thereafter be retracted by the Administrative Agent, acting on the instruction of Majority Lenders, at any time), all LC Obligations shall become immediately due and payable without regard to whether or not actual drawings or payments on the Letters of Credit have occurred, and Borrower shall be obligated to pay to LC Issuer immediately an amount equal to the aggregate LC Obligations which are then outstanding to be held as LC Collateral. Nothing in this subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral or LC Obligation, including any LC Application, or any rights which any Lender Party may have to otherwise apply any payments by Borrower and any LC Collateral under Section 3.1.
Acceleration of LC Obligations. If the Obligations or any part thereof become immediately due and payable pursuant to Section 7.2 then, unless Required Lenders otherwise specifically elect to the contrary (which election may thereafter by retracted by Required Lenders
