Common use of LC Collateral Accounts Clause in Contracts

LC Collateral Accounts. (a) Provided that no Event of Default or Unmatured Event of Default has occurred and is continuing and the Facility Termination Date has not occurred, any Borrower may from time to time advise the Administrator and each Group Agent in writing of its desire to convert certain amounts that are on deposit in an LC Collateral Account and that are denominated in one currency to another currency that is either denominated in U.S. Dollars or Canadian Dollars. Following receipt of such request, the Administrator shall notify such Borrower in writing whether or not the Administrator is agreeable to such conversion; provided, however, that if the Administrator fails to so notify such Borrower within one (1) Business Day, the Administrator shall be deemed to have declined such conversion request. In the event that the Administrator has so notified such Borrower in writing that it is agreeable to such conversion, such Borrower and the Administrator shall enter into such documents as the Administrator may deem necessary or appropriate to effect such conversion, and such conversion shall occur at such exchange rate as agreed to in writing between the Administrator and such Borrower.

LC Collateral Accounts. (a) Provided that no Termination Event of Default or Unmatured Termination Event of Default has occurred and is continuing and continuing, the Facility Termination Date has not occurred, any Borrower and a Minimum Cash Liquidity Event has not occurred, the Seller may from time to time advise the Administrator and each Group Purchaser Agent in writing of its desire to convert certain amounts that are on deposit in an LC Collateral Account and that are denominated in one currency to another currency that is either denominated in U.S. Dollars or Canadian Australian Dollars. Following receipt of such request, the Administrator shall notify such Borrower the Seller in writing whether or not the Administrator is agreeable to such conversion; provided, however, that if the Administrator fails to so notify such Borrower the Seller within one (1) Business Day, the Administrator shall be deemed to have declined such conversion request. In the event that the Administrator has so notified such Borrower the Seller in writing that it is agreeable to such conversion, such Borrower the Seller and the Administrator shall enter into such documents as the Administrator may deem necessary or appropriate to effect such conversion, and such conversion shall occur at such exchange rate as agreed to in writing between the Administrator and such Borrowerthe Seller.

LC Collateral Accounts. (a) Provided that no Termination Event of Default or Unmatured Termination Event of Default has occurred and is continuing and the Facility Termination Date has not occurred, any Borrower occurred the Seller may from time to time advise the Administrator and each Group Purchaser Agent in writing of its desire to convert certain amounts that are on deposit in an LC Collateral Account and that are denominated in one currency to another currency that is either denominated in U.S. Dollars or Canadian Australian Dollars. Following receipt of such request, the Administrator shall notify such Borrower the Seller in writing whether or not the Administrator is agreeable to such conversion; provided, however, that if the Administrator fails to so notify such Borrower the Seller within one (1) Business Day, the Administrator shall be deemed to have declined such conversion request. In the event that the Administrator has so notified such Borrower the Seller in writing that it is agreeable to such conversion, such Borrower the Seller and the Administrator shall enter into such documents as the Administrator may deem necessary or appropriate to effect such conversion, and such conversion shall occur at such exchange rate as agreed to in writing between the Administrator and such Borrowerthe Seller.

LC Collateral Accounts. (a) Provided that no Termination Event of Default or Unmatured Termination Event of Default has occurred and is continuing continuing, and the Facility Termination Date has not occurred and a Minimum Cash Liquidity Event has not occurred, any Borrower the Seller may from time to time advise the Administrator and each Group Purchaser Agent in writing of its desire to convert certain amounts that are on deposit in an LC Collateral Account and that are denominated in one currency to another currency that is either denominated in U.S. Dollars or Canadian Australian Dollars. Following receipt of such request, the Administrator shall notify such Borrower the Seller in writing whether or not the Administrator is agreeable to such conversion; provided, however, that if the Administrator fails to so notify such Borrower the Seller within one (1) Business Day, the Administrator shall be deemed to have declined such conversion request. In the event that the Administrator has so notified such Borrower the Seller in writing that it is agreeable to such conversion, such Borrower the Seller and the Administrator shall enter into such documents as the Administrator may deem necessary or appropriate to effect such conversion, and such conversion shall occur at such exchange rate as agreed to in writing between the Administrator and such Borrowerthe Seller.