Common use of Collateral Valuation Clause in Contracts

Collateral Valuation. The Collateral Agent shall monitor the Market Value of the Collateral. On each Borrowing Date, the Collateral Agent shall determine the Market Value of the Collateral (in accordance with Section 3.1(b) with respect to timing of such valuation) securing the Loans to be made on such date. On each subsequent Business Day on which there is an outstanding Advance, the Collateral Agent shall (i) to the extent any such Advance is a Company Pool Loan, determine the Company Borrowing Base on and as of such date in accordance with its usual and customary practices and (ii) to the extent any such Advance is a Clearing Fund Pool Loan, determine the applicable Clearing Fund Borrowing Base on and as of such date in accordance with its usual and customary practices, and, in each case, shall advise and notify (which may be by telephone, provided that written confirmation thereof shall promptly follow) the Company, the Administrative Agent and each Bank of each such determination.

Collateral Valuation. The Collateral Agent shall monitor the Market Value of the Collateral. On each Borrowing Date, the Collateral Agent shall determine the Market Value of the Collateral (in accordance with Section 3.1(b) with respect to timing of such valuation) securing the Loans to be made on such date). On each subsequent Business Day on which there is an outstanding Advance, the Collateral Agent shall (i) to the extent any such Advance is a Company Pool Loan, determine the Company Borrowing Base on and as of such date in accordance with its usual and customary practices and (ii) to the extent any such Advance is a Clearing Fund Pool Loan, determine the applicable Clearing Fund Borrowing Base on and as of such date in accordance with its usual and customary practices, and, in each case, shall advise and notify (which may be by telephone, provided that written confirmation thereof shall promptly follow) the Company, the Administrative Agent and each Bank of each such determination.