Common use of Termination of Requirement Clause in Contracts

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each L/C Issuer that there exists excess Cash Collateral; provided that the Person providing Cash Collateral and each L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 4 contracts

Samples: Multicurrency Credit Agreement (Gallagher Arthur J & Co), Credit Agreement (Arthur J. Gallagher & Co.), Multicurrency Credit Agreement (Gallagher Arthur J & Co)

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Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c9.4(c) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each the L/C Issuer that there exists excess Cash Collateral; provided that that, subject to Section 1.15 the Person providing Cash Collateral and each the L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 3 contracts

Samples: Credit Agreement (Boulder Brands, Inc.), Credit Agreement (Smart Balance, Inc.), Credit Agreement (Boulder Brands, Inc.)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) 5.16 following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer that there exists excess Cash Collateral; provided that that, subject to Section 5.15 the Person providing Cash Collateral and each L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 3 contracts

Samples: Credit Agreement (Ingram Micro Inc), Credit Agreement (Ingram Micro Inc), Credit Agreement (Ingram Micro Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C the Letter of Credit Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) 4.3 following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C the Letter of Credit Issuer that there exists excess Cash Collateral; provided that that, subject to Section 4.2, the Person providing Cash Collateral Collateral, and each L/C the Letter of Credit Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 3 contracts

Samples: Credit Agreement (Lincoln Electric Holdings Inc), Credit Agreement (Lincoln Electric Holdings Inc), Credit Agreement (Lincoln Electric Holdings Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any one or more L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c2.03(g) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each the applicable L/C Issuer Issuer(s) that there exists excess Cash Collateral; provided that that, subject to Section 2.15 the Person providing Cash Collateral and each the L/C Issuer Issuers may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 3 contracts

Samples: Credit Agreement (QEP Midstream Partners, LP), Credit Agreement (Qep Resources, Inc.), Credit Agreement (QEP Midstream Partners, LP)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c1.17(c) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each L/C Issuer that there exists excess Cash Collateral; provided that that, subject to Section 1.16, the Person providing Cash Collateral and each L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 2 contracts

Samples: Credit Agreement (CTS Corp), Credit Agreement (CTS Corp)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C IssuerIssuing Lender’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) released promptly [Access MLP Operating Credit Agreement] following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer that there exists excess Cash Collateral; provided that that, subject to Section 3.17 the Person providing Cash Collateral and each L/C Issuer the Issuing Lender or Swing Line Lender, as applicable, may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Access Midstream Partners Lp)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Issuing Bank's Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) 2.11 following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer Issuing Bank that there exists excess Cash Collateral; provided that that, subject to this Section 2.11 the Person providing Cash Collateral and each L/C Issuer Issuing Bank may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.. (e)

Appears in 1 contract

Samples: Credit Agreement (Agco Corp /De)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any an L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) 1.17 following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each the applicable L/C Issuer that there exists excess Cash Collateral; provided that the Person providing Cash Collateral and each the applicable L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.anticipated

Appears in 1 contract

Samples: Credit Agreement (Jones Lang Lasalle Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C an LC Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c2.22(d) following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer the LC Issuers that there exists excess Cash Collateral; provided that that, subject to this Section 2.22 the Person providing Cash Collateral and each L/C Issuer the LC Issuers may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Plexus Corp)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c10.14(c) following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer that there exists excess Cash Collateral; provided that that, the Person providing Cash Collateral and each L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Health Management Associates Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C the LC Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) 6.14.4 following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C the LC Issuer that there exists excess Cash Collateral; provided that that, subject to this Section 6.14 the Person providing Cash Collateral and each L/C the LC Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.obligations and provided further, such Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. 6.15

Appears in 1 contract

Samples: Loan Agreement (Lithia Motors Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuerthe Issuing Bank’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer Issuing Bank that there exists excess Cash Collateral; provided that that, subject to Section 2.19 the Person providing Cash Collateral and each L/C Issuer Issuing Bank may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Home Properties Inc)

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Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any the L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c2.03(g) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each the L/C Issuer that there exists excess Cash Collateral; provided that that, subject to Section 2.16 the Person providing Cash Collateral and each the L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Qep Resources, Inc.)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C the LC Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) 6.14.4 following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C the LC Issuer that there exists excess Cash Collateral; provided that that, subject to this Section 6.14 the Person providing Cash Collateral and each L/C the LC Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.obligations and provided further, such 103 115525625.4 0063724-00082

Appears in 1 contract

Samples: Loan Agreement (Lithia Motors Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) 2.13 following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each L/C Issuer that there exists excess Cash Collateral; provided that that, subject to Section 2.12, the Person providing Cash Collateral and each L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Hub Group, Inc.)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C IssuerIssuing Lender’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer Issuing Lender that there exists excess Cash Collateral; provided that that, subject to Section 2.6 the Person providing Cash Collateral and each L/C Issuer Issuing Lender may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Infrastructure & Energy Alternatives, Inc.)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c2.13(c) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each L/C Issuer that there exists excess Cash Collateral; provided that that, unless the Person providing Cash Collateral and each L/C Issuer may agree agrees that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations, such Cash Collateral shall be immediately returned to such Person.

Appears in 1 contract

Samples: Credit Agreement (Neutral Tandem Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s the Fronting Exposure of the Swingline Lender shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) following (Ai) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (Bii) the determination by the Administrative Agent and each L/C Issuer the Swingline Lender that there exists excess Cash Collateral; provided that that, subject to Section 2.24, the Person providing Cash Collateral and each L/C Issuer the Swingline Lender may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (South Carolina Electric & Gas Co)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C LC Issuer’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c2.22(d) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and each L/C LC Issuer that there exists excess Cash Collateral; provided that that, subject to this Section 2.22 the Person providing Cash Collateral and each L/C LC Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Henry Jack & Associates Inc)

Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce any L/C Issuer’s Fronting Exposure or to secure other obligations shall no longer be required to be held as Cash Collateral pursuant to this Section 1.7(c) released promptly following (Ai) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable LenderLender (or, as appropriate, its assignee following compliance with Section 10.4(b)(vii), )) or (Bii) the determination by the Administrative Agent and each the L/C Issuer that there exists excess Cash Collateral; provided that that, subject to this Section 2.10, the Person providing Cash Collateral and each the L/C Issuer may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

Appears in 1 contract

Samples: Credit Agreement (Synchronoss Technologies Inc)

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