Excess Letters of Credit Outstanding. If any excess calculated pursuant to Section 3.5(b) is attributable to undrawn Letters of Credit, the Borrowers shall promptly Cash Collateralize such excess with the Administrative Agent pursuant to the terms of Section 2.9(h), as security for such portion of the Obligations. Unless otherwise required by Applicable Law, upon: (A) a change in circumstances such that the Dollar Equivalent of Principal Obligations no longer exceed the Available Commitment and no Event of Default or Potential Default has occurred and is continuing; or (B) the full and final payment of the Obligations and the expiration or termination of all Letters of Credit, the Administrative Agent shall return to the Borrowers any amounts remaining in said Cash Collateral Account.
Appears in 4 contracts
Samples: Revolving Credit Agreement (Owl Rock Technology Finance Corp.), Revolving Credit Agreement (Owl Rock Capital Corp III), Revolving Credit Agreement (Owl Rock Technology Finance Corp.)
Excess Letters of Credit Outstanding. If any excess calculated pursuant to Section 3.5(b) is attributable to undrawn Letters of Credit, the Borrowers shall promptly Cash Collateralize by the Required Payment Time such excess in the currency of the related Letter of Credit with the Administrative Agent Agent, when required pursuant to the terms of Section 2.9(h3.5(b), as security for such portion of the Obligations. Unless otherwise required by Applicable Law, upon: (A) a change in circumstances such that the Dollar Equivalent of the Principal Obligations no longer exceed the Available Commitment and no Event of Default or Potential Default has occurred and is continuingCommitment; or (B) the full and final payment of the Obligations and the expiration or termination of all Letters of Credit, so long as no Event of Default or Potential Default has occurred and is continuing, the Administrative Agent shall return to the Borrowers any amounts remaining in said Cash Collateral Account.
Appears in 3 contracts
Samples: Revolving Credit Agreement (TCG BDC II, Inc.), Revolving Credit Agreement (TCG BDC II, Inc.), Revolving Credit Agreement (TCG BDC II, Inc.)
Excess Letters of Credit Outstanding. If any excess calculated pursuant to Section 3.5(b) is attributable to undrawn Letters of Credit, the Borrowers Borrower shall promptly Cash Collateralize such excess with the Administrative Agent pursuant to the terms of Section 2.9(h2.8(h), as security for such portion of the Obligations. Unless otherwise required by Applicable Law, upon: upon (A) a change in circumstances such that the Dollar Equivalent of the Principal Obligations no longer exceed the Available Commitment and no Event of Default or Potential Default has occurred and is continuing; or (B) the full and final payment of the Obligations and the expiration or termination of all Letters of Credit, so long as no Event of Default or Potential Default has occurred and is continuing, the Administrative Agent shall return to the Borrowers Borrower any amounts remaining in said Cash Collateral Account.
Appears in 1 contract
Samples: Revolving Credit Agreement (Clarion Partners Real Estate Income Fund Inc.)