Common use of Swing Line Commitment Clause in Contracts

Swing Line Commitment. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e), agrees to make swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “Swing Line Loans”) to the Borrower from time to time on any Business Day during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in (and upon each such Borrowing of Swing Line Loans, the Borrower shall be deemed to represent and warrant that such Borrowing will not result in) (i) the aggregate principal amount of outstanding Swing Line Loans exceeding the Swing Line Commitment, or (ii) the sum of the total Revolving Exposures exceeding the Total Revolving Commitments; provided that the Swing Line Lender shall not be required to make a Swing Line Loan to refinance, in whole or in part, an outstanding Swing Line Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow Swing Line Loans. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby, irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Pro Rata Percentage times the amount of such Swing Line Loan.

Appears in 4 contracts

Sources: Credit and Guarantee Agreement (Infrastructure & Energy Alternatives, Inc.), Credit and Guarantee Agreement (Infrastructure & Energy Alternatives, Inc.), Credit and Guarantee Agreement (Infrastructure & Energy Alternatives, Inc.)

Swing Line Commitment. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e2.1(c), agrees to make swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “Swing Line Loans”) Loans to the Borrower Borrowers from time to time on any Business Day during the Revolving Availability Period, in Dollars in an aggregate principal amount at any time outstanding that will not result in (and upon each such Borrowing of Swing Line Loans, the Borrower Agent shall be deemed to represent and warrant to the Lenders that such Borrowing will not result in) (i) the aggregate principal amount of outstanding Swing Line Loans exceeding the Swing Line Commitment, or (ii) the sum of the total Revolving Exposures exceeding the Total Revolving CommitmentsCommitments or (iii) the total Revolving Exposures of any Class of Commitments exceeding the aggregate Commitments of such Class; provided that the Swing Line Lender shall not be required to make a Swing Line Loan to refinance, in whole or in part, an outstanding Swing Line Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower Borrowers may borrow, repay and reborrow Swing Line Loans. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby, hereby irrevocably and unconditionally agrees to, purchase acquire from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Pro Rata Percentage times the amount of such Swing Line Loan (it being understood that no Lender shall acquire a risk participation in a Swing Line Loan attributable to any Commitment which expired or was terminated prior to the date of the making of such Swing Line Loan).

Appears in 3 contracts

Sources: Abl Credit Agreement (Cumulus Media Inc), Abl Credit Agreement (Cumulus Media Inc), Abl Credit Agreement (Cumulus Media Inc)

Swing Line Commitment. Subject to the terms and conditions set forth hereinhereof, the Swing Line Lender, Lender in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e), its individual capacity agrees to make swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “Swing Line Loans”"SWING LINE LOANS") to the Borrower on any Business Day from time to time on any Business Day during the Revolving Availability Period, Commitment Period in an aggregate principal amount at any one time outstanding not to exceed $15,000,000; PROVIDED, HOWEVER, that will not result in (and upon each such no event may the amount of any Borrowing of Swing Line Loans, Loans (A) exceed the Borrower shall be deemed Total Available Revolving Commitment immediately prior to represent and warrant that such Borrowing will not result in(after giving effect to the use of proceeds thereof) or (iB) cause the aggregate principal amount Assigned Dollar Value of the Outstanding Revolving Loans of any Lender, when added to such Lender's Revolver Pro Rata Share of then outstanding Swing Line Loans exceeding and Revolver Pro Rata Share of the aggregate Assigned Dollar Value of the LC Obligations (exclusive of Unpaid Drawings relating to LC Obligations which are repaid with the proceeds of, and simultaneously with the incurrence of, Revolving Loans or Swing Line Loans) to exceed such Lender's Revolving Commitment. Amounts borrowed by the Borrower under this SECTION 2.1(d)(i) may be repaid and, or to but excluding the fifth (ii5) Business Day prior to the sum of the total Revolving Exposures exceeding the Total Revolving Commitments; provided that the Revolver Termination Date, reborrowed. Swing Line Lender Loans shall be maintained as Base Rate Loans and, notwithstanding SECTION 2.6, shall not be required entitled to make a be converted into any other Type of Loan. Any Swing Line Loan Loans that are outstanding on the Amendment/Restatement Effective Date shall continue to refinance, in whole or in part, an remain outstanding Swing Line Loan. Within the foregoing limits hereunder and subject are deemed to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow be "Swing Line Loans. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby, irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Pro Rata Percentage times the amount of such Swing Line Loan."

Appears in 1 contract

Sources: Credit Agreement (Gencorp Inc)

Swing Line Commitment. Subject to the terms and conditions set forth hereinhereof, the Swing Line Lender, Lender in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e), its individual capacity agrees to make swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “"Swing Line Loans") to the Borrower on any Business Day from time to time on any Business Day during the Revolving Availability Period, Commitment Period in an aggregate principal amount at any one time outstanding not to exceed $10,000,000; provided, however, that will not result in no event may the amount of any Borrowing of Swing Line Loans (A) exceed the Total Available Revolving Commitment immediately prior to such Borrowing (after giving effect to the use of proceeds thereof) or (B) cause the outstanding Revolving Loans of any Lender, when added to such Lender's Commitment Percentage of the then outstanding Swing Line Loans and upon each Commitment Percentage of the aggregate LC Obligations (exclusive of Unpaid Drawings relating to LC Obligations which are repaid with the proceeds of, and simultaneously with the incurrence of, Revolving Loans or Swing Line Loans) to exceed such Lender's Revolving Commitment; provided, further, that, after giving effect to any Borrowing of Swing Line Loans, the Borrower aggregate amount of all outstanding Swing Line Loans, and the aggregate amount of all LC Obligations and Revolving Loans then outstanding, shall be deemed to represent and warrant that such Borrowing will not result in) at any time exceed the lesser of (i) the aggregate principal amount of outstanding Swing Line Loans exceeding the Swing Line Commitment, or Borrowing Base and (ii) the sum of the total Revolving Exposures exceeding the Total Revolving Commitments; provided that Commitment. Amounts borrowed by Borrower under this Section 2.1(c)(i) may be repaid and, at any time prior to the Termination Date, reborrowed. The Swing Line Lender Loans shall be made in Dollars and maintained as Base Rate Loans and, notwithstanding Section 2.6, shall not be required to make a Swing Line Loan to refinance, in whole or in part, an outstanding Swing Line Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow Swing Line Loans. Immediately upon the making converted into any other Type of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby, irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Pro Rata Percentage times the amount of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (BMC Industries Inc/Mn/)

Swing Line Commitment. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e2.1(c), agrees to make swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “Swing Line Loans”) Loans to the Borrower Borrowers from time to time on any Business Day during the Revolving Availability Period, in Dollars in an aggregate principal amount at any time outstanding that will not result in (and upon each such Borrowing of Swing Line Loans, the Borrower Agent shall be deemed to represent and warrant to the Lenders that such Borrowing will not result in) (i) the aggregate principal amount of outstanding Swing Line Loans exceeding the Swing Line Commitment, or (ii) the sum of the total Revolving Exposures exceeding the Total Revolving CommitmentsCommitments or (iii) the total Revolving Exposures of any Class of Commitments exceeding the aggregate Commitments of such Class; provided that the Swing Line Lender shall not be required to make a Swing Line Loan to refinance, in whole or in part, an outstanding Swing Line Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower Borrowers may borrow, repay and reborrow Swing Line Loans. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby, hereby irrevocably and unconditionally agrees to, purchase acquire from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Len▇▇▇’▇ Pro Rata Percentage times the amount of such Swing Line Loan (it being understood that no Lender shall acquire a risk participation in a Swing Line Loan attributable to any Commitment which expired or was terminated prior to the date of the making of such Swing Line Loan).

Appears in 1 contract

Sources: Abl Credit Agreement (Cumulus Media Inc)

Swing Line Commitment. (a) Subject to the terms and conditions set forth hereinhereof, from time to time during the Availability Period, the Swing Line Lender, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e), Lender agrees to make a portion of the credit otherwise available to the Borrower under the Commitments by making swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “Swing Line Loans”) to the Borrower from time to time on any Business Day during Borrower; provided that (i) the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in sum of (and upon each such Borrowing of A) the Swing Line LoansExposure of such Swing Line Lender, the Borrower shall be deemed to represent and warrant that such Borrowing will not result in) (iB) the aggregate principal amount of outstanding Revolving Loans made by such Swing Line Loans exceeding Lender and (C) the LC Exposure of such Swing Line CommitmentLender shall not exceed its Commitment then in effect, or (ii) the sum of the total Revolving Exposures exceeding outstanding Swing Line Loans shall not exceed the Total Revolving Commitments; provided that Swing Line Commitment and (iii) the Borrower shall not request, and the Swing Line Lender shall not be required to make a make, any Swing Line Loan to refinanceif, in whole or in part, an outstanding Swing Line Loan. Within the foregoing limits and subject after giving effect to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow Swing Line Loans. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby, irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Pro Rata Percentage times the amount of such Swing Line Loan, the total Revolving Credit Exposure would exceed the total Commitments. During the Availability Period, the Borrower may use the Swing Line Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. All Swing Line Loans shall be made as ABR Loans and shall not be entitled to be converted into Eurodollar Loans. (b) The Borrower shall repay to the Swing Line Lender the then unpaid principal amount of all Swing Line Loans such that there shall not be an unpaid principal balance thereon for longer than any consecutive period of seven (7) Business Days and in any event shall repay to the Swing Line Lender the then unpaid principal balance of all Swing Line Loans on the Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Carrizo Oil & Gas Inc)

Swing Line Commitment. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e)2.17, agrees to make swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “Swing Line Loans”) Loans to the Borrower Borrowers from time to time on any Business Day during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in (and upon each such Borrowing of Swing Line Loans, the Borrower Borrowers shall be deemed to represent and warrant that such Borrowing will not result in) (i) the aggregate principal amount of outstanding Swing Line Loans exceeding the Swing Line Commitment, or (ii) the sum of the total Revolving Exposures exceeding the Total total Revolving Commitments; provided that the Swing Line Lender shall not be required to make a Swing Line Loan to refinance, in whole or in part, an outstanding Swing Line Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower Borrowers may borrow, repay and reborrow Swing Line Loans. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby, irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Pro Rata Percentage times the amount of such Swing Line Loan.

Appears in 1 contract

Sources: First Lien Credit Agreement (Transfirst Holdings Corp.)

Swing Line Commitment. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.01(e)2.17, agrees to make swing line loans in Dollars (each a “Swing Line Loan” and, collectively, the “Swing Line Loans”) Loans to the Borrower Borrowers from time to time on any Business Day during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in (and upon each such Borrowing of Swing Line Loans, the Borrower Borrowers shall be deemed to represent and warrant that such Borrowing will not result in) (i) the aggregate principal amount of outstanding Swing Line Loans exceeding the Swing Line Commitment, or (ii) the sum of the total Revolving Exposures exceeding the Total total Revolving Commitments; provided that the Swing Line Lender shall not be required to make a Swing Line Loan to refinance, in whole or in part, an outstanding Swing Line Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower Borrowers may borrow, repay and reborrow Swing Line Loans. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and herebyhereby does, irrevocably and unconditionally agrees to, agree to purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Pro Rata Percentage times the amount of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Nutrition Topco, LLC)