Common use of Cash Collateral Pledge Clause in Contracts

Cash Collateral Pledge. Upon (a) the request of the Agent, (i) if the Issuing Bank has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in a Letter of Credit Borrowing hereunder, or (ii) if, as of the Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (b) the occurrence of the circumstances described in Section 2.10(a) requiring a Borrower to Cash Collateralize Letters of Credit, then such Borrower shall immediately Cash Collateralize the Letter of Credit Obligations in an amount equal to such Letter of Credit Obligations (or in the case of clause (ii) above, the excess amount required pursuant to Section 2.10(a)) and such cash will be held as security for all Obligations of the Borrowers to the Banks hereunder in a cash collateral account to be established by the Agent, and during the existence of an Event of Default, the Agent may, upon the request of the Majority Banks, apply such amounts so held to the payment of such outstanding Obligations.

Cash Collateral Pledge. Upon (a) the request of the Administrative Agent, (i) if the any Issuing Bank has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in a Letter of Credit Borrowing hereunder, or (ii) if, as of the Revolving Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (b) the occurrence of the circumstances described in Section 2.10(a2.07(a) requiring a the Borrower to Cash Collateralize Letters of Credit, then such the Borrower shall immediately Cash Collateralize the Letter of Credit Obligations in an amount equal to such Letter of Credit Obligations (or in the case of clause (ii) above, the excess amount required pursuant to Section 2.10(a2.07(a)) and such cash will be held as security for all Obligations of the Borrowers Borrower to the Banks hereunder in a cash collateral account to be established by the Administrative Agent, and during the existence of an Event of Default, the Administrative Agent may, upon the request of the Majority Required Banks, apply such amounts so held to the payment of such outstanding Obligations.

Cash Collateral Pledge. Upon (a) the request of the Agent, (i) if the Issuing Bank has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in a Letter of Credit Borrowing hereunder, or (ii) if, as of the Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (b) the occurrence of the circumstances described in Section 2.10(a) requiring a Borrower to Cash Collateralize Letters of Credit, then such Borrower shall immediately Cash Collateralize the Letter of Credit Obligations in an amount equal to such Letter of Credit Obligations (or in the case of clause (ii) above, the excess amount required pursuant to Section 2.10(a)) and such cash will be held as security for all Obligations of the Borrowers to the Banks hereunder in a cash collateral account to be established by the Agent, and during the existence of an Event of Default, the Agent may, upon the request of the Majority Banks, apply such amounts so held to the payment of such outstanding Obligations.the

Cash Collateral Pledge. Upon (a) the request of the Administrative Agent, (i) if the an Issuing Bank Lender has honored any full or partial drawing request on any Letter of Credit and such drawing has resulted in a Letter of Credit Borrowing hereunder, or (ii) if, as of the Termination Date, any Letters of Credit may for any reason remain outstanding and partially or wholly undrawn, or (b) the occurrence of the circumstances described in Section 2.10(a) 2.07 requiring a the Borrower to Cash Collateralize Letters of Credit, then such the Borrower shall immediately Cash Collateralize the Letter of Credit Obligations in an amount equal to such Letter of Credit Obligations (or in the case of clause (iib) above, the excess amount required pursuant to Section 2.10(a)2.07) and such cash will be held as security for all Obligations of the Borrowers Borrower to the Banks Lenders hereunder in a cash collateral account to be established by the Administrative Agent, and during the existence of an Event of Default, the Administrative Agent may, upon the request of the Majority BanksLenders, apply such amounts so held to the payment of such outstanding Obligations.