Common use of Making of Swing Loans Clause in Contracts

Making of Swing Loans. The Swing Loan Bank shall deposit the amount it intends to fund, if any, in respect of the Swing Loans requested by the Company with the Administrative Agent at its office in New York, New York not later than 2:00 p.m. (New York time) in immediately available funds on the date of the proposed Borrowing applicable thereto. The Swing Loan Bank shall not make any Swing Loan in the period commencing on the first Business Day after it receives written notice from any Lender that one or more of the conditions precedent contained in Section 5.02 shall not on such date be satisfied, and ending when such conditions are satisfied or waived pursuant to Section 13.07 hereof, and the Swing Loan Bank shall not otherwise be required to determine that, or take notice whether, the conditions precedent set forth in Section 5.02 hereof have been satisfied in connection with the making of any Swing Loan. Subject to the preceding sentence, the Administrative Agent shall make such proceeds available to the Company at the Administrative Agent's office in New York, New York on the date of the proposed Borrowing and shall disburse such proceeds to the Disbursement Account.

Appears in 1 contract

Sources: Credit Agreement (Insilco Corp/De/)

Making of Swing Loans. The Swing Loan Bank shall deposit the amount it intends to fund, if any, in respect of the Swing Loans requested by the Company with the Administrative Agent at its office in New YorkChicago, New York Illinois not later than 2:00 1:00 p.m. (New York Chicago time) in immediately available funds on the date of the proposed Borrowing applicable thereto. The Swing Loan Bank shall not make any Swing Loan in the period commencing on the first Business Day after it receives written notice from any Revolving Credit Lender that one or more of the conditions precedent contained in Section 5.02 shall not on such date be satisfied, and ending when such conditions are satisfied or waived pursuant to Section 13.07 hereof, and the Swing Loan Bank shall not otherwise be required to determine that, or take notice whether, the conditions precedent set forth in Section 5.02 hereof have been satisfied in connection with the making of any Swing Loan. Subject to the preceding sentence, the Administrative Agent shall make such proceeds available to the Company at the Administrative Agent's office in New YorkChicago, New York Illinois on the date of the proposed Borrowing and shall disburse such proceeds to the Disbursement Account.

Appears in 1 contract

Sources: Credit Agreement (Insilco Corp/De/)

Making of Swing Loans. The Swing Loan Bank shall deposit the --------------------- amount it intends to fund, if any, in respect of the Swing Loans requested by the Company a Borrower with the Administrative Agent at its office in New York, New York not later than 2:00 3:00 p.m. (New York time) in immediately available funds on the date of the proposed Borrowing applicable thereto. The Swing Loan Bank shall not make any Swing Loan in the period commencing on the first Business Day after it receives written notice from any Lender that one or more of the conditions precedent contained in Section 5.02 shall is not on such date be satisfied, and ending when such conditions are satisfied or waived pursuant to Section 13.07 hereofsatisfied; however, and the Swing Loan Bank shall not otherwise be required to determine that, or take notice whether, the conditions precedent set forth in Section 5.02 ------------ hereof have been satisfied in connection with the making of any Swing Loan. Subject to the preceding sentence, the Administrative Agent shall make such the proceeds of each funding of a Swing Loan available to the Company applicable Borrower at the Administrative Agent's office in New York, New York on the date of the proposed Borrowing and shall disburse such proceeds to the applicable Disbursement Account.

Appears in 1 contract

Sources: Credit Agreement (International Technology Corp)