Common use of Supporting Letter of Credit; Cash Collateral Clause in Contracts

Supporting Letter of Credit; Cash Collateral. If, notwithstanding the provisions of this clause 6 and clause 29 any Letter of Credit or Guarantee is outstanding upon the termination of this Agreement, then upon such termination each Borrower shall deposit with the Security Trustee, at its discretion, with respect to each Letter of Credit or Guarantee then outstanding, in its favour and at its request either:

Appears in 4 contracts

Samples: Credit Agreement (Bell Microproducts Inc), Credit Agreement (Bell Microproducts Inc), Credit Agreement (Bell Microproducts Inc)

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Supporting Letter of Credit; Cash Collateral. 6.14 If, notwithstanding the provisions of this clause Clause 6 (Utilisation of the Revolving Facility) and clause Clause 29 (Term and Termination) any Letter of Credit or Guarantee is outstanding upon the termination of this Agreement, then upon such termination each Borrower shall deposit with the Security Trustee, at its discretion, with respect to each Letter of Credit or Guarantee then outstanding, in its favour and at its request either:

Appears in 1 contract

Samples: Credit Agreement (Bell Microproducts Inc)

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