Common use of Payment upon Acceleration Clause in Contracts

Payment upon Acceleration. If the Commitments shall be terminated or the principal of the Notes shall become immediately due and payable pursuant to Section 6.01, the Borrower shall pay to the Agent for deposit in the Segregated Collateral Account an amount equal to the aggregate amount which is then, or may thereafter become, available for drawing under all outstanding Letters of Credit.

Payment upon Acceleration. If the Commitments shall be terminated or the principal of the Notes shall become immediately due and payable pursuant to Section 6.01, the Borrower shall pay to the Administrative Agent for deposit in the Segregated Collateral Account a segregated collateral account an amount equal to the aggregate amount which is then, or may thereafter become, available for drawing under all outstanding Letters of Credit and pledge such amount to the Administrative Agent for the benefit of the issuing Bank and the Banks to secure the Borrower's obligations in respect of such Letters of Credit.

Payment upon Acceleration. If the Commitments shall be terminated or the principal of the Notes shall become immediately due and payable pursuant to Section 6.01, the Borrower shall pay to the Agent for deposit in the Segregated Collateral Account a segregated collateral account an amount equal to the aggregate amount which is then, or may thereafter become, available for drawing under all outstanding Letters of Credit and pledge such amount to the Agent for the benefit of the Issuing Bank and the Banks to secure the Borrower's obligations in respect of such Letters of Credit.