Common use of Use and Investment of Lender Deposits Clause in Contracts

Use and Investment of Lender Deposits. Each of the Administrative Agent, each Issuing Lender, each LC Facility Lender and each Synthetic Letter of Credit Lender hereby acknowledges and agrees (i) that each LC Facility Lender that purchases an LC Facility Certificate of Deposit and each Synthetic Letter of Credit Lender is funding its Lender Deposit to the Administrative Agent for application to fund such Lender’s obligation to make LC Facility Loans or Synthetic Letter of Credit Loans in the manner contemplated by subsection 3.3B or to make available an amount equal to its respective participation in unreimbursed LC Facility Letters of Credit or Synthetic Letters of Credit in the manner contemplated by subsection 3.3C, (ii) that the Administrative Agent may invest the funds on deposit in the Lender Deposits in such investments as may be determined from time to time by the Administrative Agent in its discretion and (iii) that the Administrative Agent shall pay to each holder of a Credit-Linked Deposit a return on such Credit-Linked Deposit (except as otherwise provided in subsection 3.3C(ii)(b)(2) or subsection 3.6E) equal to the excess of the Adjusted LIBOR Rate for a 3-month interest period (or a shorter period, as necessary to avoid any interest period extending beyond the stated expiration date of the Synthetic Letter of Credit relating to such Credit-Linked Deposit) over the Interest Rate Differential, in arrears on the last day of the interest period applicable to such Credit-Linked Deposit (or, if earlier, the date on which an amount on deposit in such Credit-Linked Deposit is either (x) used to fund a payment under subsection 3.3B(iii) or 3.3C(i)(c), or (y) returned to the holder of such Credit-Linked Deposit).

Use and Investment of Lender Deposits. Each of the Administrative Agent, each Issuing Lender, each LC Facility Lender and each Synthetic Letter of Credit Lender hereby acknowledges and agrees (i) that each LC Facility Lender that purchases an LC Facility Certificate of Deposit and each Synthetic Letter of Credit Lender is funding has funded its Lender Deposit to the Administrative Agent for application to fund such Lender’s obligation to make LC Facility Loans or Synthetic Letter of Credit Loans in the manner contemplated by subsection 3.3B or to make available an amount equal to its respective participation in unreimbursed LC Facility Letters of Credit or Synthetic Letters of Credit in the manner contemplated by subsection 3.3C, (ii) that the Administrative Agent may invest the funds on deposit in the Lender Deposits in such investments as may be determined from time to time by the Administrative Agent in its discretion and (iii) that the Administrative Agent shall pay to each holder of a Credit-Linked Deposit a return on such Credit-Linked Deposit (except as otherwise provided in subsection 3.3C(ii)(b)(2) or subsection 3.6E) equal to the excess of the Adjusted LIBOR Rate for a 3-month interest period (or a shorter period, as necessary to avoid any interest period extending beyond the stated expiration date of the Synthetic Letter of Credit relating to such Credit-Linked Deposit) over the Interest Rate Differential, in arrears on the last day of the interest period applicable to such Credit-Linked Deposit (or, if earlier, the date on which an amount on deposit in such Credit-Linked Deposit is either (x) used to fund a payment under subsection 3.3B(iii) or 3.3C(i)(c), or (y) returned to the holder of such Credit-Linked Deposit).

Use and Investment of Lender Deposits. Each of the Administrative Agent, each Issuing Lender, each LC Facility Lender and each Synthetic Letter of Credit Lender hereby acknowledges and agrees (i) that each LC Facility Lender that purchases an LC Facility Certificate of Deposit and each Synthetic Letter of Credit Lender is funding its Lender Deposit to the Administrative Agent for application to fund such Lender’s 's obligation to make LC Facility Loans or Synthetic Letter of Credit Loans in the manner contemplated by subsection 3.3B or to make available an amount equal to its respective participation in unreimbursed LC Facility Letters of Credit or Synthetic Letters of Credit in the manner contemplated by subsection 3.3C, (ii) that the Administrative Agent may invest the funds on deposit in the Lender Deposits in such investments as may be determined from time to time by the Administrative Agent in its discretion and (iii) that the Administrative Agent shall pay to each holder of a Credit-Linked Deposit a return on such Credit-Linked Deposit (except as otherwise provided in subsection 3.3C(ii)(b)(2) or subsection 3.6E) equal to the excess of the Adjusted LIBOR Rate for a 3-month interest period (or a shorter period, as necessary to avoid any interest period extending beyond the stated expiration date of the Synthetic Letter of Credit relating to such Credit-Linked Deposit) over the Interest Rate Differential, in arrears on the last day of the interest period applicable to such Credit-Linked Deposit (or, if earlier, the date on which an amount on deposit in such Credit-Linked Deposit is either (x) used to fund a payment under subsection 3.3B(iii) or 3.3C(i)(c), or (y) returned to the holder of such Credit-Linked Deposit).