Common use of All Letters of Credit Clause in Contracts

All Letters of Credit. (i) Upon the occurrence and during the continuance of an Event of Default and at the direction of the Administrative Agent, (ii) in the event any Letters of Credit (Revolver) are outstanding on the Revolving Loan Commitment Termination Date, or (iii) in the event any Letters of Credit (MDT) are outstanding on the Multi-Draw Term Loan Commitment Termination Date, then with respect to all outstanding Letters of Credit, the Borrower shall either (A) deliver to the Administrative Agent for the benefit of all Lenders with a Revolving Loan Commitment or Multi-Draw Term Loan Commitment, as applicable, a letter of credit in United States dollars, with a term that extends 60 days beyond the expiration date of each such Letter of Credit, issued by a bank satisfactory to the Administrative Agent and in an amount equal to 103% of the Letter of Credit Liability as of such date with respect to each such Letter of Credit, which letter of credit shall be drawable by the Administrative Agent to reimburse payments of drafts drawn under each such Letter of Credit and to pay any fees and expenses related thereto as and when the same become due and payable or (B) (1) immediately deposit with the Administrative Agent an amount equal to the aggregate outstanding Letter of Credit Liability as of such date to enable the Administrative Agent to make payments under all of the outstanding Letters of Credit when required and such amount shall become immediately due and payable, and (2) prepay the fees payable under Section 3.5 with respect to all such Letters of Credit for the full remaining terms of such Letters of Credit, and upon termination of any such Letter of Credit, the unearned portion of such prepaid fee attributable to such Letter of Credit shall be refunded to the Borrower.

All Letters of Credit. (iA) Upon the occurrence and during the continuance of an Event of Default and at the direction of the Administrative Agent, (iiB) in the event any Letters of Credit (Revolver) are outstanding on the Revolving Loan Commitment Termination Date, or (iiiC) in the event any Letters of Credit (MDT) are outstanding on the Multi-Draw Term Loan Commitment Termination Date, then with respect to all outstanding Letters of Credit, the Borrower shall either (A) deliver to the Administrative Agent for the benefit of all Lenders with a Revolving Loan Commitment or Multi-Draw Term Loan Commitment, as applicable, a letter of credit in United States dollars, with a term that extends 60 days beyond the expiration date of each such Letter of Credit, issued by a bank satisfactory to the Administrative Agent and in an amount equal to 103% of the Letter of Credit Liability as of such date with respect to each such Letter of Credit, which letter of credit shall be drawable by the Administrative Agent to reimburse payments of drafts drawn under each such Letter of Credit and to pay any fees and expenses related thereto as and when the same become due and payable or (B) (1) immediately deposit with the Administrative Agent an amount equal to the aggregate outstanding Letter of Credit Liability as of such date to enable the Administrative Agent to make payments under all of the outstanding Letters of Credit when required and such amount shall become immediately due and payable, and (2) prepay the fees payable under Section 3.5 with respect to all such Letters of Credit for the full remaining terms of such Letters of Credit, and upon termination of any such Letter of Credit, the unearned portion of such prepaid fee attributable to such Letter of Credit shall be refunded to the Borrower.