Common use of Alternative Currencies Clause in Contracts

Alternative Currencies. If the Administrative Agent notifies the Borrowers at any time that the Outstanding Amount of all Loans and L/C Obligations denominated in Alternative Currencies at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then, within two Business Days after receipt of such notice, the Borrowers shall prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed 100% of the Alternative Currency Sublimit then in effect.

Appears in 4 contracts

Samples: Credit Agreement (Diodes Inc /Del/), Credit Agreement (Diodes Inc /Del/), Credit Agreement (Diodes Inc /Del/)

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Alternative Currencies. If the Administrative Agent notifies the Borrowers Borrower at any time that the Outstanding Amount of all Loans and L/C Obligations denominated in Alternative Currencies at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then, within two (2) Business Days after receipt of such notice, the Borrowers Borrower shall prepay Loans and/or Cash Collateralize the L/C Obligations Letters of Credit in an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed 100% of the Alternative Currency Sublimit then in effect.

Appears in 3 contracts

Samples: Credit Agreement (Team Inc), Credit Agreement (Team Inc), Credit Agreement (Team Inc)

Alternative Currencies. If the Administrative Agent notifies the Borrowers Company at any time that the Outstanding Amount of all Loans and L/C Obligations denominated in Alternative Currencies at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then, within two five (5) Business Days after receipt of such notice, the Borrowers Borrower shall prepay Loans and/or Cash Collateralize the L/C Obligations Letters of Credit in an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed 100% of the Alternative Currency Sublimit then in effect.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (ModivCare Inc), Credit and Guaranty Agreement (Providence Service Corp)

Alternative Currencies. If the Administrative Agent notifies the Borrowers Company at any time that the Outstanding Amount of all Loans and L/C Obligations denominated in Alternative Currencies at such time exceeds an amount equal to 105103% of the Alternative Currency Sublimit then in effect, then, within two (2) Business Days after receipt of such notice, the Borrowers shall prepay Loans and/or Cash Collateralize the L/C Obligations Letters of Credit in an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed 100% of the Alternative Currency Sublimit then in effect.

Appears in 1 contract

Samples: Credit Agreement (Copart Inc)

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Alternative Currencies. If the Administrative Agent notifies the Borrowers Borrower at any time that the Outstanding Amount aggregate amount of all Loans and L/C Letter of Credit Obligations denominated in Alternative Currencies at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then, within two five (5) Business Days after receipt of such notice, the Borrowers Borrower shall prepay Loans and/or Cash Collateralize the L/C Obligations Letters of Credit in an aggregate amount sufficient to reduce such Outstanding Amount amount as of such date of payment to an amount not to exceed 100% of the Alternative Currency Sublimit then in effect.

Appears in 1 contract

Samples: Credit Agreement (EPAM Systems, Inc.)

Alternative Currencies. If the Administrative Agent notifies the Borrowers Company at any time that the Outstanding Amount of all Revolving Loans and L/C Obligations denominated in Alternative Currencies at such time exceeds an amount equal to one hundred five percent (105% %) of the Alternative Currency Sublimit then in effect, then, within two (2) Business Days after receipt of such notice, the Borrowers Company shall prepay Revolving Loans and/or Cash Collateralize the L/C Obligations Letters of Credit in an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed one hundred percent (100% %) of the Alternative Currency Sublimit then in effect.

Appears in 1 contract

Samples: Credit Agreement (Meet Group, Inc.)

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