Common use of No Operational Lock-Up Event Clause in Contracts

No Operational Lock-Up Event. If so requested, the Collateral Agent shall, on a weekly basis, transfer all amounts standing to the credit of a Collection Account into another deposit account designated by the Borrowers by way of a written request (or written standing instruction). Unless the Collateral Agent otherwise agrees, all such transfers shall occur on or after 11:00 a.m. (London, England time) on each Monday (or if such day is not a Business Day, the immediately following Business Day), and all costs and expenses incurred by the Collateral Agent in connection with such transfers shall be borne by the Borrowers; provided that no such transfer shall be made if an Operational Lock-Up Event or Event of Default has then occurred and is continuing, or could reasonably be expected to result therefrom.

No Operational Lock-Up Event. If so requestedrequested by the Borrowers, the Collateral Agent shall, on a weekly basis, transfer all amounts standing to the credit of a Collection Account into another deposit account designated by the Borrowers by way of a written request (or written standing instruction). Unless the Collateral Agent otherwise agrees, all such transfers shall occur on or after 11:00 a.m. (London, England time) on each Monday (or if such day is not a Business Day, the immediately following Business Day)) following such request, and all costs and expenses incurred by the Collateral Agent in connection with such transfers shall be borne by the Borrowers; provided that no such transfer shall be made if an Operational Lock-Up Event or Event of Default has then occurred and is continuingoccurred, or could reasonably be expected to result therefrom.