Common use of Release of Amounts Clause in Contracts

Release of Amounts. (a) So long as no Default under Section 8.01(a), (f) or (k) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order such amount, if any, as is then on deposit in the Pledged Deposit Accounts, in each case to the extent permitted to be released under the terms of the Credit Documents.

Appears in 2 contracts

Samples: Collateral Agency Agreement (Puget Energy Inc /Wa), Credit Agreement (Puget Energy Inc /Wa)

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Release of Amounts. (a) So long as no Default under Section 8.01(a), (f) or (kf) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents, such amount, if any, as is then on deposit in the Pledged Deposit Accounts, in each case any Cash Collateral Account to the extent permitted to be released under the terms of the Credit DocumentsAgreement.

Appears in 2 contracts

Samples: Security Agreement (Terremark Worldwide Inc), First Lien Security Agreement (Terremark Worldwide Inc)

Release of Amounts. (a) So long as no Default under Section 8.01(a), (f) or (k) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Table of Contents Loan Documents, such amount, if any, as is then on deposit in the Pledged Deposit AccountsCollateral Account or the L/C Collateral Account, as the case may be, in each case to the extent permitted to be released under the terms of the Credit DocumentsAgreement.

Appears in 1 contract

Samples: Security Agreement (Leap Wireless International Inc)

Release of Amounts. (a) So long as no Event of Default under Section 8.01(a), (f6.01(a) or (kf) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or and/or direct the applicable Pledged Account Bank to pay and release, release to the Administrative Agent to be applied to the Obligations of the Borrower or at its order under Letters of Credit, such amount, if any, as is then on deposit in the Pledged Deposit Accounts, in each case L/C Collateral Account to the extent permitted required to be released satisfy Obligations under the terms Letter of the Credit DocumentsFacility.

Appears in 1 contract

Samples: Security Agreement (Kansas City Southern)

Release of Amounts. (a) So long as no Default under Section 8.01(a), (f6.01(a) or (kf) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or and/or direct the applicable Pledged Account Bank to pay and release, release to the Administrative Agent to be applied to the Obligations of the Borrower or at its order under Letters of Credit, such amount, if any, as is then on deposit in the Pledged Deposit Accounts, in each case L/C Collateral Account to the extent permitted required to be released satisfy Obligations under the terms Letter of the Credit DocumentsFacility.

Appears in 1 contract

Samples: Security Agreement (Kansas City Southern)

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Release of Amounts. (aSubject to Section 5(e) So and so long as no Default under Section 8.01(a), (f) or (k) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents, such amount, if any, as is then on deposit in the Pledged Deposit AccountsCollateral Account, as the case may be, in each case to the extent permitted to be released under the terms of the Credit DocumentsAgreement.

Appears in 1 contract

Samples: Security Agreement (Icg Communications Inc /De/)

Release of Amounts. (a) So long as no Default under Section 8.01(a), (f) or (kf) of the Credit Agreement or an Event of Default shall have occurred and be continuing, the Collateral Agent will pay and release, or direct the applicable Pledged Account Bank to pay and release, to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents, such amount, if any, as is then on deposit in the Pledged Deposit Accounts, in each case Cash Collateral Account to the extent permitted to be released under the terms of the Credit DocumentsAgreement.

Appears in 1 contract

Samples: Security Agreement (Quantum Corp /De/)

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