Common use of Excess Collateral Clause in Contracts

Excess Collateral. If no Event of Default or Potential Default exists, and no Borrowing Excess exists or would occur (after taking into account any corresponding payment on the Obligation) as a result of the release, Co-Borrowers may, by a Release Request delivered to Administrative Agent by 11:00 a.m. on the Business Day of the release, request that Administrative Agent release the Lender Liens on any Collateral.

Excess Collateral. If no Event of Default or Potential Default exists, exists and no Borrowing Excess exists or would occur (after taking into account any corresponding payment on the Obligation) as a result of the release, Co-Borrowers Borrower may, by a Release Request delivered to Administrative Agent by 11:00 a.m. on the Business Day of the release, request that Administrative Agent release the Lender Liens on any Collateral.