Common use of Credit-Linked Deposit Account Clause in Contracts

Credit-Linked Deposit Account. (a) On the Closing Date, each LC Facility Lender shall pay to the Administrative Agent for deposit in the Credit-Linked Deposit Account an amount equal to its LC Facility Commitment in accordance with subsection 2.1(b). The LC Facility Deposits shall be held by the Administrative Agent in the Credit-Linked Deposit Account, and no party other than the Administrative Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the LC Facility Deposits. Notwithstanding anything herein to the contrary, (i) the funding obligation of each LC Facility Lender in respect of its participation in LC Facility Letters of Credit pursuant to subsection 2.1(b) or otherwise as provided in this Agreement shall be satisfied in full upon the funding of its LC Facility Deposit in the amount of its LC Facility Commitment and (ii) each LC Facility Lender hereby grants a security interest in its LC Facility Deposit to the Administrative Agent as security for the obligations of each LC Facility Issuing Bank in respect of the LC Facility (it being understood that this clause (ii) shall not relieve the Borrower of its Reimbursement Obligations hereunder).

Credit-Linked Deposit Account. (a) On the Closing Date, each LC Facility Lender shall pay to the Administrative LC Facility Agent for deposit in the Credit-Linked Deposit Account an amount equal to its LC Facility Commitment in accordance with subsection 2.1(bSection 2.01(c). The LC Facility Deposits shall be held by the Administrative LC Facility Agent in the Credit-Linked Deposit Account, and no party other than the Administrative LC Facility Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the LC Facility Deposits. Notwithstanding anything herein to the contrary, (i) the funding obligation of each LC Facility Lender in respect of its participation in LC Facility Letters of Credit pursuant to subsection 2.1(b) Section 2.04 or otherwise as provided in this Agreement shall be satisfied in full upon the funding of its LC Facility Deposit in the amount of its LC Facility Commitment and (ii) each LC Facility Lender hereby grants a security interest in its LC Facility Deposit to the Administrative LC Facility Agent as security for the obligations of each LC Facility Issuing Bank the U.S. Borrower in respect of the LC Facility (it being understood that this clause (ii) shall not relieve the U.S. Borrower of its Reimbursement Obligations reimbursement obligations hereunder).

Credit-Linked Deposit Account. (a) On the Closing Date, each LC Facility Lender shall pay to the Administrative LC Facility Agent for deposit in the Credit-Linked Deposit Account an amount equal to its LC Facility Commitment in accordance with subsection 2.1(bSection 2.01(c). The LC Facility Deposits shall be held by the Administrative LC Facility Agent in the Credit-Linked Deposit Account, and no party other than the Administrative LC Facility Agent shall have a right of withdrawal from the Credit-Linked Deposit Account or any other right or power with respect to the LC Facility Deposits. Notwithstanding anything herein to the contrary, (i) the funding obligation of each LC Facility Lender in respect of its participation in LC Facility Letters of Credit pursuant to subsection 2.1(b) Section 2.04 or otherwise as provided in this Agreement shall be satisfied in full upon the funding of its LC Facility Deposit in the amount of its LC Facility Commitment and (ii) each LC Facility Lender hereby grants a security interest in its LC Facility Deposit to the Administrative LC Facility Agent as security for the obligations of each the LC Facility Issuing Bank in respect of the LC Facility (it being understood that this clause (ii) shall not relieve the U.S. Borrower of its Reimbursement Obligations reimbursement obligations hereunder).