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Cross-Collateralization
Cross-Collateralization contract clause examples
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Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that receives notice from [[Administrative Agent:Organization]] or the Required [[Organization A:Organization]] (or, if the maturity of the Loans has been accelerated, Revolving [[Organization A:Organization]] with LC Exposure representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, shall deposit in an account with [[Administrative Agent:Organization]], in the name of [[Administrative Agent:Organization]] and for the benefit of the Revolving [[Organization A:Organization]] (the “LC Collateral Account”), an amount in cash equal to 105% of the Dollar Amount of the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that # the portions of such amount attributable to undrawn Foreign Currency Letters of Credit or LC Disbursements in a Foreign Currency that is not late in reimbursing shall be deposited in the applicable Foreign Currencies in the actual amounts of such undrawn Letters of Credit and LC Disbursements and # the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to described in [clause (f) of Article VII]. For the purposes of this paragraph, the Dollar Amount of the Foreign Currency LC Exposure shall be calculated on the date notice demanding cash collateralization is delivered to . also shall deposit cash collateral pursuant to this paragraph as and to the extent required by [Section 2.11(b)]. Such deposit shall be held by [[Administrative Agent:Organization]] as collateral for the payment and performance of the Obligations. [[Administrative Agent:Organization]] shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account and hereby grants [[Administrative Agent:Organization]] a security interest in the LC Collateral Account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of [[Administrative Agent:Organization]] and at ’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by [[Administrative Agent:Organization]] to reimburse the relevant Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Revolving [[Organization A:Organization]] with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other Obligations. If is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to within three (3) Business Days after all Events of Default have been cured or waived.

Cash Collateralization. If the Borrower shall be required to post collateral for LC Exposure (or, in the case of Section 2.19, the Issuing Bank’s Fronting Exposure) pursuant to [Section 2.09(a)], Section 2.10(b), [Section 2.10(c)], Section 2.19 or the last paragraph of Article VII, the Borrower shall immediately deposit into a segregated collateral account or accounts (herein, collectively, the “Letter of Credit Collateral Account”) in the name and under the dominion and control of the Administrative Agent Cash denominated in the Currency of the Letter of Credit under which such LC Exposure (or, in the case of Section 2.19, the Issuing Bank’s Fronting Exposure) arises in an amount equal to the amount required under [Section 2.09(a)], Section 2.10(b), [Section 2.10(c)], Section 2.19 or the last paragraph of Article VII, as applicable. Such deposit (as well as any amounts deposited pursuant to the last paragraph of [Section 2.05(e)]) shall be held by the Administrative Agent as collateral in the first instance for the LC Exposure (or, in the case of Section 2.19, the Issuing Bank’s Fronting Exposure) under this Agreement and thereafter for the payment of the Secured Obligations under the Guarantee and Security Agreement, and for these purposes the Borrower hereby grants a security interest to the Administrative Agent for the benefit of the [[Consenting Lenders:Organization]] in the Letter of Credit Collateral Account and in any financial assets (as defined in the Uniform Commercial Code) or other property held therein. If the Borrower is required to provide an amount of cash collateral hereunder pursuant to Section 2.19, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower as promptly as practicable to the extent that # after giving effect to such return, there shall not be any LC Exposure that is not fully covered by the Commitments of the Non-Defaulting [[Consenting Lenders:Organization]] and/or the remaining cash collateral, # at the time of such return, no Default shall have occurred and be continuing and # after giving effect to such return, the Borrower shall remain in compliance with its obligations to post cash collateral for LC Exposure hereunder.

Cross-Default. The declaration of an event of default by any lender or other extender of credit to the Company under any notes, loans, agreements or other instruments of the Company evidencing any indebtedness of the Company (including those filed as exhibits to or described in the Company’s filings with the SEC), after the passage of all applicable notice and cure or grace periods.

Cross-Default. (i) Any Loan Party or any Subsidiary thereof # fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or # fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any Material Indebtedness Agreement, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable in respect thereof to be demanded; or # there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from # any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting Party (as defined in such Swap Contract) or # any Termination Event (as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Loan Party or such Subsidiary as a result thereof is greater than the Threshold Amount; or

Cross-Default. Notwithstanding anything to the contrary contained in this Note or the other related or companion documents, a breach or default by the Borrower of any material covenant or other term or condition contained in any of the Other Agreements, other than any such breach or default which is cured by agreement of the parties, after the passage of all applicable notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements, in which event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the Holder under the terms of this Note and the Other Agreements by reason of a default under said Other Agreement or hereunder. “Other Agreements” means, collectively, all agreements and instruments between, among or by: # the Borrower, and, or for the benefit of, # the Holder and any affiliate of the Holder, including, without limitation, promissory notes. Each of the loan transactions will be cross-defaulted with each other loan transaction and with all other existing and future debt of Borrower to the Holder.

Cross-Default. The or any Subsidiary Guarantor:

8 Cross Street #10-00

. The outstanding Obligations shall be subject to prepayment and/or cash collateralization of Letters of Credit as follows:

Letter of Credit Collateralization” shall mean either # providing cash collateral (pursuant to documentation reasonably satisfactory to Administrative Agent, including

Prior to the Closing Date, the prepared and delivered to the [[Organization A:Organization]] the statement attached hereto as [Schedule XVII] setting forth the estimated amount of the Initial Premium (the “Estimated Initial Premium”) as determined by the in good faith and in accordance with SAP and the estimated Over-Collateralization Amount based thereon (the “Estimated Over-Collateralization Amount”), in each case as of the Effective Time. On the Closing Date, # the shall deposit, on behalf of the [[Organization A:Organization]], to the Funds Withheld Account cash equal to the Estimated Initial Premium, and # the [[Organization A:Organization]] shall transfer cash equal to the Estimated Over-Collateralization

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