Application of Cash Collateral. Any cash received and retained by the Pledgee as additional Collateral pursuant to Section 8 hereof may at any time and from time to time be applied (in whole or in part) by the Pledgee, at its option, in strict accordance with the terms and conditions hereof, to the payment of the Secured Obligations which such Collateral secures (in the order described in paragraph 12 below), but only if and to the extent any such payment is required hereunder.
Application of Cash Collateral. (a) Upon the making of any LC Advance, the LC Issuer shall first seek to withdraw funds from the Letter of Credit Collateral Account as required under Section 1.6(d)(i) above and apply the amount so withdrawn against the LC Amounts resulting from such LC Advance, and any remaining Unreimbursed LC Amount shall be repaid pursuant to Section 1.6(d)(ii).
Application of Cash Collateral. If after compliance by the Administrative Agent with the provisions set forth in Section 6.1 any Obligations remain unpaid with respect to any applicable Borrower, any funds held in the Cash Collateral Account may be applied by the Administrative Agent against the payment of the Obligations of such Borrower. The Administrative Agent, prior to applying such funds against the Obligations of such Borrower, will certify to Guarantor (a) if the Pledged Shares of such Borrower are sold pursuant to Section 6.1, the net proceeds (including a calculation thereof in reasonable detail) received by the Administrative Agent from the sale of such Pledged Shares and (b) if the Pledged Shares of such Borrower are not sold pursuant to Section 6.1, the reason or reasons why such sale could not be accomplished. Any funds remaining in the Cash Collateral Account after application thereof to the Obligations as set forth above shall be returned to Guarantor. The Administrative Agent agrees that it shall deliver to Guarantor, after the application of such funds to the Obligations of such Borrower, a calculation in reasonable detail of the Obligations of such Borrower (including principal and interest of the Loans of such Borrower) and the application of such funds thereto.
Application of Cash Collateral. Upon the occurrence of any Lease Default, the Lessor shall be entitled, at its option, to use all or any portion of the Cash Collateral, including interest thereon, then held by it to pay any amount otherwise payable by the Lessee or the Guarantor under any of the Lease Documents, in accordance with the terms of this Lease or the other Lease Documents.
Application of Cash Collateral. The Borrower and Shareholder each separately agrees, acknowledges and confirms that $2.0 million of the cash held in the Cash Collateral Account, as defined in the Contribution Agreement, shall be applied on the Third Amendment Effective Date by the Administrative Agent to the outstanding Term Loans in the inverse order of maturity, which payment, subject to the following sentence, shall satisfy in full (i) any Fixed Charge Violation (as defined in the Contribution Agreement) during the Forbearance Period or resulting from the Fixed Charge Designated Default and (ii) any Excess Cash Flow payment due during the Forbearance Period pursuant to Section 2.8(b)(iii) of the Credit Agreement, in each instance regardless of the amount during the Forbearance Period to which the Lenders would be entitled (a) to withdraw from the Cash Collateral Account pursuant to the Contribution Agreement with respect to any Fixed Charge Violation during the Forbearance Period or resulting from the Fixed Charge Designated Default, or (b) to receive as payment from the Borrower pursuant to Section 2.8(b)(iii) of the Credit Agreement with respect to any Excess Cash Flow Payment. Notwithstanding the previous sentence, in the event the Borrower, Administrative Agent and applicable Lenders have not by April 30, 2012 entered into a new agreement or an agreement amending or modifying this Agreement by April 30, 2012, all Designated Defaults, in addition to any other Events of Default, if any, that might arise, shall be deemed immediately existing and uncured and any remaining funds in the Cash Collateral Account shall be immediately available to the Administrative Agent for application pursuant to the Contribution Agreement.
Application of Cash Collateral. Any cash received and retained by the Collateral Agent as additional collateral hereunder pursuant to the foregoing provisions may, at any time and from time to time, be applied by the Collateral Agent in the manner set forth in Section 2.4 of the Collateral Agency Agreement.
Application of Cash Collateral. Any cash received and retained by the Operating Partnership and/or the Company as additional Collateral pursuant to Section 5 may at any time and from time to time be applied (in whole or in part) by the Operating Partnership and/or the Company, at their option, to the satisfaction of (or as reimbursement of amounts previously paid with respect to) the Secured Obligations which such Collateral secures (in such order as the Operating Partnership and/or the Company shall, in their sole discretion determine), if and to the extent any such payment is required hereunder.
Application of Cash Collateral. Administrative Agent shall have the right, but not the obligation, at any time after the acceleration of the Loans upon an Event of Default as provided in Article VII, with the consent of the L/C Issuer, to apply all sums used to Cash Collateralize Letters of Credit pursuant to this Agreement towards the repayment of the Loans, in such order and in such manner as Administrative Agent shall elect in its sole and absolute discretion, so long as such repayment is applied, first, to repay any Swingline Loans, second, to repay any outstanding Revolving Loans (other than any Swingline Loan), and third, to repay the Term Loans.
Application of Cash Collateral. In respect of Cash Collateral, the Secured Party may at any time after an Event of Default with respect to the Chargor has occurred and is continuing, without prior notice to the Chargor, apply or appropriate the Cash Collateral in or towards the payment or discharge of any amounts payable by the Chargor with respect to any Obligation in such order as the Secured Party sees fit; or set off all or any part of any amount payable by the Chargor with respect to any Obligation against any obligation of the Secured Party to repay any amount to the Chargor in respect of the Permitted Collateral; and for these purposes the Secured Party shall be entitled to make any currency conversions or effect any transaction in currencies which it thinks fit and to do so at such times and rates as it thinks proper.
Application of Cash Collateral. Lessor may apply Cash Collateral to pay Lessee Obligations only after the same become due pursuant to the terms of the Operative Documents, whether by acceleration or otherwise. The parties hereto do not intend for the Cash Collateral to constitute advance payment of any of the Lessee Obligations or liquidated damages nor do the parties intend for the Cash Collateral to increase the Lessee Obligations. Without limiting the generality of the foregoing, the parties acknowledge and agree that, upon the exercise by Lessee of the Marketing Option in accordance with the Purchase Agreement, the Lessee Obligations thereunder shall be limited as provided therein.
