Examples of Cash Collateral Release Date in a sentence
Neither ClimaChem nor any other Credit Party or Person claiming on behalf of or through ClimaChem or any other Credit Party shall have any right to demand payment of any of the funds held in any Cash Collateral Account at any time prior to the earlier of (i) the date on which all Obligations are irrevocably paid in full and (ii) the Cash Collateral Release Date.
If at any time after the Cash Collateral Release Date, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding LOC Obligations shall exceed the Revolving Committed Amount, the Borrower shall immediately prepay the Revolving Loans and (after all Revolving Loans have been repaid) Cash Collateralize the LOC Obligations in an amount sufficient to eliminate such excess (such prepayment to be applied as set forth in clause (v) below).
Section IX assesses the proposed capital structure, 2 The selection and purpose of developing a group of comparable companies is discussed in detail in Section VI.
Prior to the Cash Collateral Release Date, each Credit Party will cause the Credit Party Obligations to be fully secured by Cash Collateral (in an amount equal to the Revolving Committed Amount) held in the Revolver Cash Collateral Account and pursuant to the terms and conditions of the Security Documents or such other security documents as the Administrative Agent shall reasonably request.
The Obligations shall further be secured by the Cash Collateral for the period beginning on or prior to the date of the initial extension of credit hereunder and ending on the Cash Collateral Release Date.