Common use of Use of Cash Collateral Clause in Contracts

Use of Cash Collateral. Notwithstanding anything to the contrary contained herein, the Borrower shall not be permitted (i) to request a Borrowing under Section 2.06 or request the issuance of a Letter of Credit under Section 2.04 or request any Escrow Disbursement unless the Bankruptcy Court shall have entered the Interim Order or (ii) to request a Borrowing under Section 2.06 or request any Escrow Disbursement unless the Borrower and the Guarantors shall at that time have the use of all cash collateral subject to the Orders for the purposes described in Section 3.09.

Appears in 2 contracts

Sources: Revolving Credit and Guaranty Agreement, Revolving Credit and Guaranty Agreement (McLeodusa Inc)

Use of Cash Collateral. Notwithstanding anything to the contrary contained hereinherein (other than the provisions of Sections 2.2(e) and (g) which make this Section inapplicable), the Borrower shall not be permitted (i) to request a Borrowing under Section 2.06 2.5 or request the issuance of a Letter of Credit under Section 2.04 or request any Escrow Disbursement 2.3 unless the Bankruptcy Court shall have entered the Interim Cash Collateral Order or (ii) to request a Borrowing under Section 2.06 or request any Escrow Disbursement 2.5 unless the Borrower and the Guarantors shall at that time have the use of used all cash collateral subject to the Orders Cash Collateral Order for the purposes described in Section 3.093.10.

Appears in 1 contract

Sources: Revolving Credit Agreement (Payless Cashways Inc)