Common use of Actions in Respect of the Letters of Credit upon Default Clause in Contracts

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Agent on behalf of the Lender Parties in same day funds at the Agent's office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the Collateral Agent on terms and conditions satisfactory to the Administrative Agent, an amount equal to the aggregate Available Amount of all Letters of Credit then out standing. If at any time the Agent determines that any funds held in such cash collateral account are subject to any right or claim of any Person other than the Agent and the Lender Parties or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Agent, pay to the Agent, as additional funds to be deposited and held in such cash collateral account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower Borrowers to, and forthwith upon such demand the Borrower Borrowers will, pay to the Administrative Agent on behalf of the Lender Parties Lenders in same day funds at the Administrative Agent's office designated in such demandOffice, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the relevant L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding, which funds shall be retained by the Administrative Agent in the relevant L/C Collateral Account as collateral security for the Letter of Credit Liabilities until such time as the Letters of Credit shall have been terminated and all of such Letter of Credit Liabilities paid in full. If at any time the Administrative Agent determines that any funds held in such cash collateral account the relevant L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower Borrowers will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe relevant L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. (a) If any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf of the Lender Parties Lenders in same day funds at the Administrative Agent's office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding, which funds shall be retained by the Administrative Agent in the L/C Collateral Account (as collateral security for the Letter of Credit Liabilities) until such time as the Letters of Credit shall have been terminated and all of such Letter of Credit Liabilities paid in full. If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a1) such aggregate Available Amount over (b2) the total amount of funds, if any, then held in such cash collateral account L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Revolving Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the any Borrower to, and forthwith upon such demand the Applicableapplicable Borrower will, pay to the Administrative Agent on behalf of the Lender Parties in same day funds at the Administrative Agent's ’s office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to 105% of the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Applicableapplicable Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85158

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 7.01 or otherwise, make demand upon the Borrower Company to, and forthwith upon such demand the Borrower Company will, pay to the Administrative Agent on behalf of the Lender Parties Lenders in same day funds at the Administrative Agent's office designated in such demandAccount, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding, which funds shall be retained by the Administrative Agent in the L/C Collateral Account as collateral security for the Letter of Credit Liabilities until such time as the Letters of Credit shall have been terminated and all of such Letter of Credit Liabilities paid in full. If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower Company will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of Xxxx Second Amended and Restated Revolving Credit and Guaranty Agreement the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf of the Lender Parties in same day funds at the Administrative Agent's ’s office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to 105% of the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default or, during the Certain Funds Period, Relevant Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf of the Lender Parties in same day funds at the Administrative Agent's office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Administrative Agent maymay from time to time, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 7.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf of the Lender Parties in same day funds at the Administrative Agent's ’s office designated in such demand, for deposit in to a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the Collateral Agent on terms and conditions satisfactory to non-interest bearing account established by the Administrative AgentAgent for such purposes or for purposes of Sections 2.05(b)(iv), 2.05(c) or 3.01 or (the “L/C Cash Collateral Account”), an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding (and the Borrower hereby grants to the Administrative Agent, for the ratable benefit of the Administrative Agent and each Lender Party, a continuing security interest in all amounts at any time on deposit in the L/C Cash Collateral Account to secure all Letter of Credit Obligations from time to time outstanding and all other Obligations hereunder). If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower Borrowers to, and forthwith upon such demand the Borrower Borrowers will, pay to the Administrative Agent on behalf of the Lender Parties Lenders in same day funds at the Administrative Agent's office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower Borrowers will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Agent may, or shall at the request of the Required LendersBanks, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower Company to, and forthwith upon such demand the Borrower Company will, pay to the Agent on behalf of the Lender Parties Banks in same day funds at the Agent's office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Agent Agents and the Lender Parties Banks or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower Company will, forthwith upon demand by the Agent, pay to the Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral accountthe L/C Cash Collateral Account, such funds shall be applied to reimburse the Issuing relevant Funding Bank or Lenders, as applicableratably in accordance with the aggregate Exposure at such time, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Working Capital Facility Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Working Capital Facility Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf of the Lender Parties under the Working Capital Facility in same day funds at the Administrative Agent's office designated in such demand, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the such Lender Parties or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account the L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Appropriate Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower Borrowers to, and forthwith upon such demand the Borrower Borrowers will, pay to the Appropriate Administrative Agent on behalf of the Lender Parties Lenders in same day funds at the Administrative Agent's office designated in such demand, for deposit in a non-interest bearing cash collateral account, securing account in the Obligations name of such Borrower but under the sole control and dominion of the Borrower in respect of the Letter of Credit Facility, in favor of the Collateral Appropriate Administrative Agent on terms and conditions satisfactory subject to the Administrative Agentterms of this Agreement (the "L/C Cash Collateral Account"), an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Appropriate Administrative Agent determines that any funds held in such cash collateral account the L/C Cash Collateral Account are subject to any right or claim of any Person other than the Agent Agents and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the such Borrower will, forthwith upon demand by the such Administrative Agent, pay to the such Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in the L/C Cash Collateral Account that such cash collateral account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Agent Majority Lenders may, or shall at the request of the Required Lenders, irrespective of whether it is they are taking any of the other actions described in Section 6.01 this Article 10 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf for the benefit of the Lender Parties Lenders in same day funds at the Agent's office designated in such demandaccordance with Section 2.14, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the Collateral Agent on terms and conditions satisfactory to the Administrative Agent, an amount equal to the aggregate Available Amount face amount of all Letters of Credit then out standingoutstanding. If at any time the Agent determines Majority Lenders determine that any funds held in any such cash collateral account are subject to any right or claim of any Person other than the Agent and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount face amount of all Letters of Credit, the Borrower will, forthwith upon demand by the AgentAdministrative Agent or the Majority Lenders, pay to the AgentAdministrative Agent for the benefit of the Lenders, as additional funds to be deposited and held in such cash collateral account, an amount equal to the excess of (a) such the aggregate Available Amount face amount of the then outstanding Letters of Credit over (b) the total amount of funds, if any, then held in such cash collateral account that the Administrative Agent determines Majority Lenders determine to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If -------------------------------------------------------- any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf of the Lender Parties Lenders in same day funds at the Administrative Agent's office designated in such demandOffice, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the relevant L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccount, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding, which funds shall be retained by the Administrative Agent in the relevant L/C Collateral Account as collateral security for the Letter of Credit Liabilities until such time as the Letters of Credit shall have been terminated and all of such Letter of Credit Liabilities paid in full. If at any time the Administrative Agent determines that any funds held in such cash collateral account the relevant L/C Cash Collateral Account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral accountthe relevant L/C Cash Collateral Account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then ---- held in such cash collateral account L/C Cash Collateral Account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the each Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand upon the Borrower Borrowers to, and forthwith upon such demand the Borrower Borrowers will, pay to the Agent Administrative Agents on behalf of the Lender Parties in same day funds at the Administrative Agent's office designated in such demand’s Offices, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the L/C Cash Collateral Agent on terms and conditions satisfactory to the Administrative AgentAccounts, an amount equal to 103% of the aggregate Available Amount of all Letters of Credit then out standingoutstanding. If at any time the Administrative Agent under any Revolving Credit Facility determines that any funds held in the L/C Cash Collateral Account with respect to such cash collateral account Revolving Credit Facility are subject to any right or claim of any Person other than the such Administrative Agent and the Lender Parties under such Revolving Credit Facility or that the total amount of such funds is less than the aggregate Available Amount of all Letters of CreditCredit under such Revolving Credit Facility, the Borrower Borrowers under such Revolving Credit Facility will, forthwith upon demand by the such Administrative Agent, pay to the such Administrative Agent, as additional funds to be deposited and held in such cash collateral accountL/C Cash Collateral Account, an amount equal to 103% of the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then held in such cash collateral account L/C Cash Collateral Account that the such Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.

Actions in Respect of the Letters of Credit upon Default. If any Event of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 7.01 or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, pay to the Administrative Agent on behalf of the Lender Parties Lenders in same day funds at the Administrative Agent's office designated in such demandAccount, for deposit in a cash collateral account, securing the Obligations of the Borrower in respect of the Letter of Credit Facility, in favor of the Collateral Agent on terms and conditions satisfactory to segregated account held by the Administrative Agent, an amount equal to the aggregate Available Amount of all Letters of Credit then out standingoutstanding, which funds shall be retained by the Administrative Agent as collateral security for the Letter of Credit Liabilities until such time as the Letters of Credit shall have been terminated and all of such Letter of Credit Liabilities paid in full. If at any time the Administrative Agent determines that any funds so segregated and held in such cash collateral account are subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties Lenders or that the total amount of such funds is less than the aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in such cash collateral segregated account, an amount equal to the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then segregated and held in such cash collateral account that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit in such cash collateral account, such funds shall be applied to reimburse the Issuing Bank or Lenders, as applicable, to the extent permitted by applicable law. 80 85.