Cover for L/C Exposure. Amounts deposited into the Collateral Account as cover for L/C Exposure under the Credit Agreement as contemplated by Article VII thereof shall be held by the Administrative Agent in a separate sub‑account (designated “L/C Exposure Sub‑Account”) and all amounts held in such sub‑account shall constitute collateral security first for the L/C Exposure outstanding from time to time and second as collateral security for the other Secured Obligations hereunder.
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Samples: Guarantee and Security Agreement (KKR & Co. Inc.), Guarantee and Security Agreement (KKR & Co. Inc.), Guarantee and Security Agreement (KKR & Co. Inc.)
Cover for L/C Exposure. Amounts deposited into the Collateral Account as cover for L/C LC Exposure under the Credit Agreement as contemplated by Article VII thereof shall be held by the Administrative Agent in a separate sub‑account sub-account (designated “L/C Exposure Sub‑AccountSub-Account”) and all amounts held in such sub‑account sub-account shall constitute collateral security first for the L/C Exposure outstanding from time to time and second as collateral security for the other Secured Obligations hereunder.
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