Common use of Lc Collateral Clause in Contracts

Lc Collateral. Obligations in Excess of Borrowing Base. If, after the making of all mandatory prepayments required under Section 2.6, the Dollar Equivalent of outstanding LC Obligations will exceed the Borrowing Base, then in addition to prepayment of the entire principal balance of the Loans Borrower will immediately pay to LC Issuer an amount equal to such excess. LC Issuer will hold such amount as collateral security for the remaining LC Obligations (all such amounts held as collateral security for LC Obligations being herein collectively called "LC Collateral") and the other Obligations, and such collateral may be applied from time to time to pay Matured LC Obligations or any other Obligations which are then due and payable. Neither this subsection nor the following subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral or LC Obligation, including any LC Application, or any rights which any Lender Party may have to otherwise apply any payments by Borrower and any LC Collateral under Section 3.1.

Lc Collateral. (a) LC Obligations in Excess of Borrowing Base. If, after the making of ------------------------------------------ all mandatory prepayments required under Section 2.6, the Dollar Equivalent of outstanding LC Obligations will exceed the Borrowing Base, then in addition to prepayment of the entire principal balance of the Loans Borrower will immediately pay to LC Issuer an amount equal to such excess. LC Issuer will hold such amount as collateral security for the remaining LC Obligations (all such amounts held as collateral security for LC Obligations being herein collectively called "LC -- Collateral") and the other Obligations, and such collateral may be applied from ---------- time to time to pay Matured LC Obligations or any other Obligations which are then due and payableObligations. Neither this subsection nor the following subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral or LC Obligation, including any LC Application, or any rights which any Lender Party may have to otherwise apply any payments by Borrower and any LC Collateral under Section 3.1.

Lc Collateral. (a) LC Obligations in Excess of Borrowing Base. If, after the making of all mandatory prepayments required under Section 2.62.8, the Dollar Equivalent of outstanding LC Obligations will exceed the Borrowing Base, then in addition to prepayment of the entire principal balance of the Loans Borrowing Base Deficiency, Borrower will immediately pay to LC Issuer an amount equal to such excess. LC Issuer will hold such amount as collateral security for the remaining LC Obligations (all such amounts held as collateral security for LC Obligations being herein collectively called "LC Collateral") and the other until such LC Obligations become Matured LC Obligations, and at which time such collateral LC Collateral may be applied from time to time to pay such Matured LC Obligations or any other Obligations which are then due and payableObligations. Neither this subsection nor the following subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral Credit or LC Obligation, including any LC Application, or any rights which any Lender Party may have to otherwise apply any payments by Borrower and any LC Collateral under Section 3.1.

Lc Collateral. (a) LC Obligations in Excess of Borrowing Base. If, after If the making of all mandatory prepayments required under Section 2.6, the Dollar Equivalent of outstanding LC Obligations will exceed the Tranche A Borrowing Base, then in addition to prepayment of the entire principal balance of the Loans pursuant to Section 2.7 Borrower will immediately pay to LC Issuer an amount equal to such excess. LC Issuer will hold such amount as collateral security for the remaining LC Obligations (all such amounts held as collateral security for LC Obligations being herein collectively called "LC Collateral") and the other until such LC Obligations become Matured LC Obligations, and at which time such collateral LC Collateral may be applied from time to time to pay such Matured LC Obligations or any other Obligations which are then due and payableObligations. Neither this subsection nor the following subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral Credit or LC Obligation, including any LC Application, or any rights which any Lender Party may have to otherwise apply any payments by Borrower and any LC Collateral under Section 3.1.

Lc Collateral. (a) LC Obligations in Excess of Borrowing Base. If, after the making of ------------------------------------------ all mandatory prepayments required under Section 2.6, the Dollar Equivalent of outstanding LC Obligations will exceed the Borrowing Base, then in addition to prepayment of the entire principal balance of the Loans Borrower will immediately pay to LC Issuer an amount equal to such excess. LC Issuer will hold such amount as collateral security for the remaining LC Obligations (all such amounts held as collateral security for LC Obligations being herein collectively called "LC Collateral") and the other Obligations, and such ------------- collateral may be applied from time to time to pay Matured LC Obligations or any other Obligations which are then due and payable. Neither this subsection nor the following subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral or LC Obligation, including any LC Application, or any rights which any Lender Party may have to otherwise apply any payments by Borrower and any LC Collateral under Section 3.1.

Lc Collateral. (a) LC Obligations in Excess of Borrowing BaseCommitment. If, after the making of all -------------------------------------- mandatory prepayments required under Section 2.62.7, the Dollar Equivalent of outstanding LC Obligations will exceed the Borrowing BaseCommitment, then in addition to prepayment of the entire principal balance of the Loans Borrower will immediately pay to LC Issuer an amount equal to such excess. LC Issuer will hold such amount as collateral security for the remaining LC Obligations (all such amounts held as collateral security for LC Obligations being herein collectively called "LC Collateral") ------------- and the other ObligationsLoans, and such collateral may be applied from time to time to pay Matured LC Obligations or any other Obligations which are then due and payableObligations. Neither this subsection nor the following subsection shall, however, limit or impair any rights which LC Issuer may have under any other document or agreement relating to any Letter of Credit, LC Collateral or LC Obligation, including any LC Application, or any rights which any Lender Party may have to otherwise apply any payments by Borrower and any LC Collateral under Section 3.1.