Common use of Withdrawals from the Operating Account Clause in Contracts

Withdrawals from the Operating Account. Prior to the occurrence and continuance of an Event of Default, the Borrower shall be allowed to administer and operate the Operating Account in accordance with this Agreement. At any time an Event of Default shall have occurred and be continuing, the Administrative Agent may (at its discretion) apply the amounts on deposit in the Operating Account to the outstanding Obligations pursuant to Section 8.03. SECTION 12.06

Withdrawals from the Operating Account. Prior to the occurrence and continuance of an Event of Default, the Borrower shall be allowed to administer and operate the Operating Account in accordance with this Agreement. At any time an Event of Default shall have occurred and be continuing, the Administrative Agent may (at its discretion) apply the amounts on deposit in the Operating Account to the outstanding Obligations pursuant to Section 8.03. SECTION 12.06.