Swing Line Transactions Sample Clauses
Swing Line Transactions. U.S. Bank shall notify each Buyer no later than 2:00 p.m. on each Swing Line Refunding Due Date of such Buyer’s Funding Share of the Swing Line Transactions that are to be converted to Regular Transactions on such date. If at the time each such Swing Line Transaction was funded, U.S. Bank reasonably believed that all of the conditions set forth in Section 2.5 were satisfied in all material respects, then the other Buyers shall be (subject to the provisions of this Agreement and the other Repurchase Documents) unconditionally and irrevocably obligated to timely fund their respective Funding Shares of such Transactions, irrespective of whether in the meantime any Default or Event of Default has occurred or been discovered, and irrespective of whether in the meantime some or all of the Buyers’ Commitments have lapsed, expired or been canceled, rescinded or terminated with or without cause, or have been waived, released or excused for any reason whatsoever, so that (a) the Swing Line is paid down by the required amount on each Swing Line Refunding Due Date and (b) all Swing Line Transactions are converted to Regular Transactions with each Buyer having funded its Funding Share thereof. All Price Differential accrued on Swing Line Transactions to the applicable Swing Line Refunding Due Date shall be due and payable by the Seller to the Administrative Agent (for distribution to U.S. Bank) in the manner set forth in Section 5.3 but in no event later than the Termination Date. All amounts due from the Buyers under this Section 3.2 shall be transmitted by federal funds wire transfer in accordance with the Administrative Agent’s instructions. The Administrative Agent shall disburse to U.S. Bank an amount equal to the sum of the Funding Shares received from the Buyers on any day against each Transaction that was initially funded as a Swing Line Transaction (excluding U.S. Bank’s own Funding Share thereof); provided that if a Buyer other than U.S. Bank advises the Administrative Agent by telephone and confirms the advice by fax that such Buyer has placed all of its Funding Share on the federal funds wire to the account designated by the Administrative Agent, the Administrative Agent shall continue to keep the Swing Line Transaction outstanding to the extent of that Buyer’s Funding Share so wired until such Buyer’s Funding Share is received, and the Administrative Agent shall then repay U.S. Bank that still-outstanding portion of the Swing Line Transaction from such fun...
Swing Line Transactions. 36 2.6. Optional Termination, Reduction and Increase of Buyers’ Commitments ............
Swing Line Transactions. Each requested Transaction (other than said initial Transaction) shall be initially funded by Chase as a Swing Line Transaction, provided that:
(a) no Default or Event of Default has occurred and is continuing or would exist after funding of such Swing Line Transaction; Commitment;
(b) after such funding, Chase’s aggregate Purchase Price would not exceed its
(c) the Maximum Swing Line Purchase Price would not be exceeded; and
(d) neither the Sellers nor Chase is aware of any reason why the requested Swing Line Transaction cannot or will not be fully funded by the Buyers according to their respective Purchase Price Shares on the Swing Line Repurchase Date.
Swing Line Transactions. The opening phrase of Section 2.5(a) of the Repurchase Agreement is amended and restated to read in its entirety as follows:
(a) The Seller may request a Swing Line Transaction:”
Swing Line Transactions. The Sellers shall have the right to request that JPMorgan enter into Swing Line Transactions:
(a) only if the Swing Line Transaction fully qualifies in all respects as an ordinary Transaction under this Agreement and the Repurchase Agreement;
(b) provided that no Default or Event of Default has occurred and is continuing; USActive 5629959.9
(c) so long as the Maximum Swing Line Purchase Price is not exceeded;
(d) provided that the Transaction Request for the Swing Line Transaction is received by JPMorgan after 1:00 p.m. (Central time) and by no later than 4:00 p.m. (Central time) on the Business Day such Swing Line Transaction is to be entered into; and
(e) provided that neither the Sellers nor JPMorgan is aware of any reason why the requested Swing Line Transaction cannot or will not be fully funded by the Buyers according to their respective Purchase Price Shares on the Swing Line Repurchase Date.
Swing Line Transactions. Subject to the terms and conditions set forth herein and satisfaction of each condition precedent set forth in Section 7.2 hereof, the Swing Line Provider, in reliance upon the agreements of the other Buyers set forth in this Section 3.2, may in its sole and individual discretion enter into Transactions (each such loan, a “Swing Line Transaction”) with the Seller not later than 4:00 p.m. on the requested Purchase Date (and thereafter on a best effort basis) in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Transactions, when aggregated with the Transaction Exposure of the Buyer acting as Swing Line Provider, may exceed the amount of such Buyer’s Commitment; provided, however, that (x) after giving effect to any Swing Line Transaction, the total Aggregate Outstanding Purchase Price shall not exceed the Aggregate Transaction Limit or any Type Sublimit, and (y) each Swing Line Transaction shall be subject to the same terms and conditions as any other Transaction hereunder.
Swing Line Transactions