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

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Agent shall, upon written request of Required Revolving Lenders, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, an amount of cash equal to 103% of the undrawn face amount of the then outstanding Letters of Credit as additional collateral security for Obligations in respect of any outstanding Letter of Credit. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, select. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) when all the Obligations have been Paid In Full.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Revolving Loan Commitment) shall be terminated for any reason, or if any Letters of Credit remain outstanding for any reason whatsoever after the Revolving Termination Date or if otherwise required by the terms hereof, the Agent shallmay, and upon written request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower Borrowers shall thereupon deliver to the Agent, to be held for the benefit of the L/C IssuerIssuers, the Agent and the Lenders entitled thereto, an amount of cash equal to 103107% of the undrawn face amount of the then outstanding Letters of Credit L/C Reimbursement Obligations as additional collateral security for Obligations in respect of any outstanding Letter of CreditObligations. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, selectObligations. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) Borrowers when all Letters of Credit have been terminated or discharged, the Aggregate Revolving Loan Commitments have been terminated and all Obligations have been Paid In Fullindefeasibly paid in full in cash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Aggregate Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereofhereof at a time when Letters of Credit Issued hereunder are outstanding, the Agent shallmay, and upon written request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower applicable Borrowers shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, an amount of cash equal to 103105% of the undrawn face amount of L/C Reimbursement Obligations of the then outstanding Letters of Credit applicable Borrower as additional collateral security for Obligations in respect of any outstanding Letter of CreditObligations. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such applicationObligations, subject to the Agent may (but shall not be obligated to) invest other limitations contained herein including the same in an interest-bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, security principles under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, selectSection 11.8. The remaining balance of the cash collateral will be returned to the Borrower upon applicable Borrowers when all Letters of Credit of all of the earlier of Borrowers have been terminated or discharged, all Commitments have been terminated and all Obligations (x) other than contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted and other than Obligations not arising under this Agreement or the other Loan Documents that at such time as are no Event of Default is then continuing and upon longer secured under the request of the Borrower and (yCollateral Documents) when all the Obligations have been Paid In Fullpaid in full in cash or otherwise satisfied in accordance with the terms hereof.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Original Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Agent shallmay, and upon written request of Required Original Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, an amount of cash equal to 103% of the undrawn face amount of the then outstanding Letters Letter of Credit Obligations as additional collateral security for Obligations in respect of any outstanding Letter of Credit. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-interest bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, select. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) or any other Person entitled thereto under applicable law when all Letters of Credit have been terminated or discharged, the Aggregate Original Revolving Loan Commitments have been terminated and all Obligations have been Paid In Fullindefeasibly paid in full in cash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan LoanLC Facility Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Agent shallmay, and upon written request of Required Revolving RevolvingLC Facility Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the theLC Facility Lenders entitled thereto, an amount of cash equal to 103105% of the undrawn face amount of the then outstanding Letters of Credit L/C Reimbursement Obligations as additional collateral security for Obligations in respect of any outstanding Letter of CreditObligations. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, selectObligations. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) when all the Letters of Credit have been terminated or discharged, all Commitments have been terminated and all Obligations have been Paid In Fullpaid in full in cash (other than obligations in respect of Bank Products and Secured Rate Contracts and contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted).

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Agent shallmay, and upon written request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, an amount of cash equal to 103% of the undrawn face amount of the then outstanding Letters Letter of Credit Obligations as additional collateral security for Obligations in respect of any outstanding Letter of Credit. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-interest bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, select. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) or any other Person entitled thereto under applicable law when all Letters of Credit have been terminated or discharged, the Aggregate Revolving Loan Commitments have been terminated and all Obligations have been Paid In Fullindefeasibly paid in full in cash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Agent shallmay, and upon written request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, an amount of cash equal to 103105% of the undrawn face amount of the then outstanding Letters of Credit L/C Reimbursement Obligations as additional collateral security for Obligations in respect of any outstanding Letter of CreditObligations. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn outstanding Letters of Credit. Pending such applicationCredit and, the Agent may (but shall not be obligated to) invest the same in an interest-bearing account in the Agent’s name, for the benefit following acceleration or maturity of the L/C IssuerObligations, to the Agent and payment of any or all other Obligations of the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, selectCredit Parties. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (xi) such time as no Event of Default is then no longer continuing and upon the request of the Borrower and (yii) when all the Letters of Credit have been terminated or discharged, all Commitments have been terminated and all Obligations have been Paid In Fullpaid in full in cash.

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Agent shallmay, and upon written request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, an amount of cash equal to 103105% of the undrawn face amount of the then outstanding Letters of Credit L/C Reimbursement Obligations as additional collateral security for Obligations in respect of any outstanding Letter of CreditObligations. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, selectObligations. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) when all the Letters of Credit have been terminated or discharged, all Commitments have been terminated and all Obligations have been Paid In Fullpaid in full in cash (other than obligations in respect of Bank Products and Secured Rate Contracts and contingent indemnification Obligations to the extent no claim giving rise thereto has been asserted).

Cash Collateral for Letters of Credit. If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment and the Canadian Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Agent shallmay, and upon written request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the US Borrower shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the US Revolving Lenders entitled thereto, an amount of cash equal to 103105% of the undrawn face amount of the then outstanding Letters Letter of Credit Obligations as additional collateral security for the US Obligations in respect of any outstanding Letter of Credit. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, selectUS Obligations. The remaining balance of the cash collateral will be returned to the US Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) when all the Letters of Credit have been terminated or discharged, all Revolving Loan Commitments and Canadian Revolving Loan Commitments have been terminated and all Obligations have been Paid In Fullpaid in full in cash.

Cash Collateral for Letters of Credit. If (a) an Event of Default has occurred and is continuing, (b) this Agreement (or the Revolving Loan CommitmentCommitment of all Lenders) shall be terminated for any reason or if (c) otherwise required by the terms hereof, the then Agent shallmay, and upon written request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower Borrowers shall thereupon deliver to the Agent, to be held for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, an amount of cash equal to 103105% of the undrawn face amount of the then outstanding Letters of Credit L/C Reimbursement Obligations as additional collateral security for Obligations in respect of any outstanding Letter of Credit. The Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any drawn Letters outstanding Letter of Credit. Pending such application, the Agent may (but shall not be obligated to) invest the same in an interest-bearing account in the Agent’s name, for the benefit of the L/C Issuer, the Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Agent may, in their discretion, select. The remaining balance of the cash collateral will be returned to the Borrower upon the earlier of (x) such time as no Event of Default is then continuing and upon the request of the Borrower and (y) Borrowers when all the Letters of Credit have been terminated or discharged, all Commitments have been terminated and all Obligations have been Paid In Fullpaid in full in cash. Notwithstanding the foregoing, if the Borrowers are required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount shall be returned to the Borrowers within five (5) Business Days upon the Borrowers’ written request after all Events of Default have been waived.