Common use of Cash Collateral Prior to the Expiration Date Clause in Contracts

Cash Collateral Prior to the Expiration Date. If any Letter of Credit is outstanding and such Letter of Credit (as it may have previously been extended) has an expiration date which is after the Expiration Date, then Borrowers shall, on or before the date which is seven (7) days prior to the Expiration Date, (i) provide a clean letter of credit to the Administrative Agent and the Lenders to support the obligations of the Borrowers to the Lenders under such Letter of Credit in an amount equal to the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit, and such letter of credit shall be issued by a financial institution acceptable to the Administrative Agent, in its sole discretion, and have a long-term debt rating of AAA or higher by Standard & Poor's or Aaa or higher by Mxxxx'x or (ii) Cash Collateralize each such Letter of Credit in an amount equal to 102.5% of the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit. Borrower hereby grants to Administrative Agent a security interest in all Cash Collateral pledged pursuant to this Section or otherwise under this Agreement.

Cash Collateral Prior to the Expiration Date. If any Letter of Credit is outstanding and such Letter of Credit (as it may have previously been extended) has an expiration date which is after the Expiration Date, then Borrowers shall, on or before the date which is seven (7) days prior to the Expiration Date, (i) provide a clean letter of credit to the Administrative Agent and the Lenders to support the obligations of the Borrowers to the Lenders under such Letter of Credit in an amount equal to the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit, and such letter of credit shall be issued by a financial institution acceptable to the Administrative Agent, in its sole discretion, and have a long-term debt rating of AAA or higher by Standard & Poor's or Aaa or higher by Mxxxx'x Xxxxx'x or (ii) Cash Collateralize each such Letter of Credit in an amount equal to 102.5% of the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit. Each Borrower hereby grants to Administrative Agent a security interest in all Cash Collateral pledged pursuant to this Section 2.9 or otherwise under this Agreement.

Cash Collateral Prior to the Expiration Date. If any Letter of Credit is outstanding and such Letter of Credit (as it may have previously been extended) has an expiration date which is after the Expiration Date, then Borrowers shall, on or before the date which is seven (7) days prior to the Expiration Date, (i) provide a clean letter of credit to the Administrative Agent and the Lenders to support the obligations of the Borrowers to the Lenders under such Letter of Credit in an amount equal to the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit, and such letter of credit shall be issued by a financial institution acceptable to the Administrative Agent, in its sole discretion, and have a long-term debt rating of AAA or higher by Standard & Poor's or Aaa or higher by Mxxxx'x Moody's or (ii) Cash Collateralize each such Letter of Credit in an amount equal to 102.5% of the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit. Each Borrower hereby grants to Administrative Agent a security interest in all Cash Collateral pledged pursuant to this Section 2.9 or otherwise under this Agreement.

Cash Collateral Prior to the Expiration Date. If any Letter of Credit is outstanding and such Letter of Credit (as it may have previously been extended) has an expiration date which is after the Expiration Date, then Borrowers shall, on or before the date which is seven (7) days prior to the Expiration Date, (i) provide a clean letter of credit to the Administrative Agent and the Lenders to support the obligations of the Borrowers to the Lenders under such Letter of Credit in an amount equal to the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit, and such letter of credit shall be issued by a financial institution acceptable to the Administrative Agent, in its sole discretion, and have a long-term debt rating of AAA or higher by Standard & Poor's ’s or Aaa or higher by Mxxxx'x Xxxxx’x or (ii) Cash Collateralize each such Letter of Credit in an amount equal to 102.5% of the face value of such outstanding Letter of Credit plus the amount of fees that would be due under such Letter of Credit through the expiry date of such Letter of Credit. Borrower hereby grants to Administrative Agent a security interest in all Cash Collateral pledged pursuant to this Section or otherwise under this Agreement.