The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers from time to time on any Business Day until the Revolving Credit Termination Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, the Revolving Credit Outstandings of any Revolving Lender shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loans, and subject to the other terms and conditions hereof, Borrowers may borrow under this Section 2.04, prepay under Section 2.06, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed). 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 Applicable Percentage times the amount of such Swing Line Loan.
Appears in 6 contracts
Sources: Fifth Amendment to Amended and Restated Credit Agreement (e.l.f. Beauty, Inc.), Fourth Amendment to Amended and Restated Credit Agreement and First Amendment to Pledge and Security Agreement (e.l.f. Beauty, Inc.), Credit Agreement (e.l.f. Beauty, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayLender, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 2.04, may in its sole discretion make loans in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until during the Availability Period with respect to the Revolving Credit Termination Date Facility 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, (i) the Total Revolving Outstandings shall not exceed the Revolving Credit Outstandings Facility at such time and (ii) the Revolving Credit Exposure of any Revolving Lender shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, ; provided further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage times the amount of such Swing Line Loan.
Appears in 5 contracts
Sources: Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (Babcock & Wilcox Enterprises, Inc.), Credit Agreement (Babcock & Wilcox Enterprises, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Company from time to time on any Business Day until the Maturity Date with respect to the Revolving Credit Termination Date Commitments 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit CommitmentCommitment then in effect; provided further that, and provided, further, that Borrowers the Company shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Company may borrow under this Section 2.04, prepay under Section 2.06, 2.05 and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 4 contracts
Sources: Credit Agreement (Sungard Data Systems Inc), Credit Agreement (Sungard Capital Corp Ii), Credit Agreement (Sungard Capital Corp Ii)
The Swing Line. Subject Upon the terms, subject to the terms conditions and conditions in reliance upon the representations and warranties of the Borrowers and each of the other Loan Parties set forth herein, in this Agreement and in the Swing Line Lender may, but shall not be obligated to, make loans in reliance other Loan Documents and upon the agreements of the other Lenders set forth in this Section 2.04 2.05, Swing Line Lender may in Dollars its sole discretion make loans (each such loan, a “Swing Line Loan”) in immediately available funds denominated in Dollars to the Borrowers on a revolving basis from time to time on any Business Day until from the Revolving Credit Termination Closing Date through the tenth Business Day immediately preceding the last day of the Availability Period 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 Loans, when aggregated with the Applicable Percentage Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, : (i) the Total Revolving Credit Outstandings will not exceed the Aggregate Revolving Credit Commitments; and (ii) the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender shall (other than Swing Line Lender in such capacity), plus such Lender’s Percentage Share of the Outstanding Amount of all L/C Obligations, plus such other Lender’s Percentage Share of the Outstanding Amount of all Swing Line Loans will not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loans, and subject to the other terms and conditions hereof, Borrowers may borrow under this Section 2.04, prepay under Section 2.06, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at will be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall will 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 Applicable Percentage times Share multiplied by the amount of such Swing Line Loan.
Appears in 4 contracts
Sources: Credit Agreement (Ch2m Hill Companies LTD), Credit Agreement (Ch2m Hill Companies LTD), Credit Agreement (Ch2m Hill Companies LTD)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayLender, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 2.04, may in Dollars its sole discretion make loans (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Credit Lender, plus such Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations at such time, plus such Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans at such time shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, and ; provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity only at a rate per annum equal to (i) the sum of based on the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Credit Lender’s Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 4 contracts
Sources: Credit Agreement (Syniverse Holdings Inc), Credit Agreement (Rapid Roaming Co), Credit Agreement (Solgar)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Dollar Revolving Credit Loans and Dollar L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Dollar Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Dollar Revolving Credit Outstandings Loans of any Revolving Lender other Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Dollar L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Dollar Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line LoanCommitment then in effect. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Dollar Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 4 contracts
Sources: Credit Agreement (Avaya Inc), Credit Agreement (Avaya Inc), Credit Agreement (Avaya Inc)
The Swing Line. Subject to the terms and conditions set forth herein, during the period from the Effective Date to the Maturity Date, Swing Line Lender mayLender, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “2.8 agrees to make Swing Line Loan”) Loans to Borrowers the Borrower as the Borrower may from time to time on any Business Day until request for the Revolving Credit Termination Date in an purposes permitted hereby; provided, however, that (i) the aggregate amount of Swing Line Loans outstanding shall not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount outstanding principal amount of Revolving Loans and L/C Obligations of made by the Revolving Lender acting as Swing Line Lender and such Lender’s Commitment Percentage of the outstanding Letter of Credit Obligations may exceed such Lender’s Commitment Percentage of the Revolving Loan Commitment, may (ii) the sum of all Loans outstanding shall not exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, the Revolving Loan Commitment minus the Letter of Credit Outstandings of any Revolving Lender shall not exceed such Revolving Lender’s Revolving Credit Commitment, Obligations and provided, further, that Borrowers (iii) the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and This is a revolving credit and, subject to the discretion of the Swing Line Lender to make Swing Line Loans, foregoing and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04borrow, prepay under Section 2.06, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect set forth herein without premium or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)penalty. Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase purchased 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 Applicable Commitment Percentage times the amount of such Swing Line Loan. Each Swing Line Loan shall bear interest at a rate equal to the rate applicable to Base Rate Loans.
Appears in 3 contracts
Sources: Credit Agreement (Integrys Energy Group, Inc.), Credit Agreement (Integrys Energy Group, Inc.), Credit Agreement (Integrys Energy Group, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Dollar Revolving Credit Loans and Dollar L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Dollar Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Dollar Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Dollar L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Dollar Revolving Credit CommitmentCommitment then in effect; provided further that, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Dollar Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 3 contracts
Sources: Credit Agreement (Orbitz Worldwide, Inc.), Credit Agreement (Orbitz Worldwide, Inc.), Credit Agreement (Freescale Semiconductor Inc)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Company from time to time on any Business Day (other than the Closing Date) until the Maturity Date in respect of the Revolving Credit Termination Date Facility 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and Commitment then in effect; provided, further, that Borrowers the Company shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Company may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 3 contracts
Sources: Credit Agreement (DJO Finance LLC), Credit Agreement (ReAble Therapeutics Finance LLC), Credit Agreement (Encore Medical, L.P.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until the Revolving Credit Termination Initial Revolver Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, (x) the Revolving Credit Outstandings aggregate principal amount of any Revolving outstanding Swing Line Loans made by the Swing Line Lender shall not exceed such Swing Line Lender’s Swing Line Commitment, (y) the Total Revolving Outstandings with respect to the Initial Revolving Credit Facility shall not exceed the aggregate Initial Revolving Credit Commitments and (z) the Revolving Outstandings of any Lender under the Initial Revolving Credit Facility shall not exceed such Lender’s Revolving Credit CommitmentCommitment (in each case, and taking the Dollar Equivalent of all amounts in an Alternate Currency); provided, further, further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.05, prepay under Section 2.06, 2.06 and reborrow under this Section 2.042.05. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Initial Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 3 contracts
Sources: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit CommitmentCommitment then in effect; provided further that, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (Transcultural Health Develpment, Inc.), Credit Agreement (West Corp)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Dollar Revolving Credit Loans and Dollar L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Dollar Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Dollar Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Dollar L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Dollar Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line LoanCommitment then in effect. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.06, 2.05 and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Dollar Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (LVB Acquisition, Inc.), Credit Agreement (Biolectron, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Company from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit CommitmentCommitment then in effect; provided further that, and provided, further, that Borrowers the Company shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Company may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (Readers Digest Association Inc), Credit Agreement (Direct Holdings Libraries Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayLender, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars 2.04, may make loans (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until during the Revolving Credit Termination Date Availability Period 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 Loans, when aggregated with the Applicable Revolving Facility Percentage of the Outstanding Amount of Revolving Facility Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Facility Commitment; provided, however, that that, (x) after giving effect to any Swing Line Loan, (i) the Revolving Facility Credit Outstandings Exposure shall not exceed the lower of the total Revolving Facility Commitment and the Borrowing Base at such time, and (ii) the Revolving Facility Credit Exposure of any Revolving Lender shall not exceed such Revolving Lender’s Revolving Credit Facility Commitment, and provided, further, that Borrowers (y) the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line LoanLoan and (z) the Swing Line Lender shall not be under any obligation to make any Swing Line Loan if it has, or by making of such Swing Line Loan may have, Fronting Exposure. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.11, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity only at a rate per annum equal to (i) the sum of based on the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Facility 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 Applicable Revolving Facility Percentage times multiplied by the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Abl Credit Agreement (Constellium Holdco B.V.), Abl Credit Agreement (Constellium Holdco B.V.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Business Day prior to the Maturity Date with respect to the Revolving Credit Termination Date Facility 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, Commitment then in effect; provided further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (Epicor International Holdings, Inc.), Credit Agreement (Epicor Software Corp)
The Swing Line. Subject to On the terms and subject to the conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) in Dollars to the Borrowers from time to time on any Business Day until during the Revolving Credit Termination period from the Closing Date up to but not including the Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line LenderLender in its capacity as a Lender of Revolving Loans, may exceed the amount of such Revolving Lender’s Revolving Credit Loan Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Total Revolving Loan Commitment at such time, and (ii) the aggregate Effective Amount of the Revolving Credit Outstandings Loans of any Lender (other than the Swing Line Lender), plus such Lender’s Revolving Lender Proportionate Share of the Effective Amount of all L/C Obligations, plus such Lender’s Revolving Proportionate Share of the Effective Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Loan Commitment, and provided, further, that Borrowers the Swing Line Lender shall not use the proceeds of make any Swing Line Loan to refinance any an outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.042.03, prepay under Section 2.06, and reborrow under this Section 2.042.03. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage Revolving Proportionate Share times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (American Commercial Lines Inc.), Credit Agreement (American Commercial Lines Inc.)
The Swing Line. Subject to the terms and conditions set forth hereinherein and in the sole discretion of the Swing Line Lender, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until (other than the Closing Date) during the Revolving Credit Termination Date Commitment Period 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Credit Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, ; provided further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a an unfunded risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Applicable Percentage times Pro Rata Share and the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (Dunkin' Brands Group, Inc.), Credit Agreement (Dunkin' Brands Group, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until the Revolving Credit Termination Initial Revolver Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, (x) the Revolving Credit Outstandings aggregate principal amount of any Revolving outstanding Swing Line Loans made by the Swing Line Lender shall not exceed such Swing Line Lender’s Swing Line Commitment, (y) the Total Revolving Outstandings with respect to the Initial Revolving Credit Facility shall not exceed the aggregate Initial Revolving Credit Commitments and (z) the Revolving Outstandings of any Lender under the Initial Revolving Credit Facility shall not exceed such Lender’s Revolving Credit CommitmentCommitment (in each case, and taking the Dollar Equivalent of all amounts in an Alternate Currency); provided, further, further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.05, prepay under Section 2.06, 2.06 and reborrow under this Section 2.042.05. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Initial Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
The Swing Line. Subject to On the terms and subject to the conditions set forth hereinin Section 5.1 (in the case of any Swing Line Loan to be made on the Closing Date), Section 5.2 and this Section 2.16, the Swing Line Lender may, but shall not be obligated to, Bank agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until during the Revolving Credit period from the Closing Date to the Termination Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender Bank acting as Swing Line LenderBank, may exceed the amount of such Revolving Lenderthe Swing Line Bank’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, all Swing Line Loans and all L/C Obligations shall not exceed the Revolving Credit Outstandings Commitments of all the Banks, and (ii) the aggregate Effective Amount of the Revolving Loans of any Revolving Lender Bank, plus such Bank’s Pro Rata Share of the Effective Amount of all L/C Obligations, plus such Bank’s Pro Rata Share of the Effective Amount of all Swing Line Loans shall not exceed such Revolving LenderBank’s Revolving Credit Commitment, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.16, prepay under Section 2.062.6, and reborrow under this Section 2.042.16. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Lender Bank shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender Bank a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving LenderBank’s Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: Credit Agreement (Ugi Corp /Pa/), Credit Agreement (Amerigas Partners Lp)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon Dollars to the agreements of the other Lenders set forth in this Section 2.04 in Dollars Borrower (each such loan, a “Swing Line Loan”) to Borrowers ), from time to time on any Business Day during the period beginning on the Business Day after the Closing Date until the date which is one (1) Business Day prior to the Maturity Date of the Revolving Credit Termination Commitments (taking into account the Maturity Date of any Revolving Credit Commitment that will automatically come into effect on such Maturity Date) 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of the Swing Line Lender’s Revolving Credit Commitment; provided that, after giving effect to any Swing Line Loan (i) the Revolving Credit Exposure under such Revolving Credit Commitments shall not exceed the aggregate Revolving Credit Commitments, and (ii) the Revolving Credit Exposure of any Revolving Credit Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, the Revolving Credit Outstandings of any Revolving Lender shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share or other applicable share provided for under this Agreement times the amount of such Swing Line Loan.
Appears in 2 contracts
Sources: First Amendment to Credit Agreement (Portillo's Inc.), First Amendment to Credit Agreement (Portillo's Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayagrees, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars 2.01(c), to make loans (each such loan, a “Swing Line Loan”) ), to Borrowers Borrower from time to time on any Business Day until prior to the Revolving Credit Termination Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount outstanding amount of Revolving Credit Loans and L/C LC Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Pro Rata Share of the Available Commitment; provided, however, that after giving effect to any Swing Line Loan, (A) the sum of the aggregate outstanding amount of the Revolving Credit Outstandings Loans plus the Swing Line Loans plus LC Obligations shall not exceed the lesser of (1) the Borrowing Base and (2) the Aggregate Commitment Amount at such time, and (B) the sum of the aggregate outstanding amount of the Revolving Credit Loans of any Revolving Lender shall not exceed (other than Swing Line Lender) at such time, plus such Revolving Lender’s Pro Rata Share of the outstanding amount of all LC Obligations at such time, plus such Revolving Lender’s Pro Rata Share of the outstanding amount of all Swing Line Loans at such time shall not exceed the lesser of such Revolving Lender’s (x) Pro Rata Share of the Borrowing Base (determined as of the date on which the requested Revolving Credit Commitment, Loan is to be made) and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan(y) Commitment Amount. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers Borrower may borrow under this Section 2.042.01(c), prepay under Section 2.062.04, and reborrow under this Section 2.042.01(c). Each Swing Line Loan shall bear interest until maturity only at a rate per annum equal to (i) the sum of based on the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Lender (other than Swing Line 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Senior Secured Credit Agreement (Midstates Petroleum Company, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayagrees, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars 2.13(a), to make loans (each such loan, a “Swing Line Loan”) ), to Borrowers the Company from time to time on any Business Day until during the Revolving Credit period from the Effective Date to the Termination Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount outstanding amount of Revolving Credit Loans and L/C LC Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (A) the sum of the aggregate outstanding amount of the Revolving Credit Outstandings Loans plus the Swing Line Loans plus LC Obligations shall not exceed the aggregate Commitments at such time, and (B) the sum of the aggregate outstanding amount of the Revolving Credit Loans of any Revolving Lender at such time, plus such Lender’s Pro Rata Share of the outstanding amount of all LC Obligations at such time, plus such Lender’s Pro Rata Share of the outstanding amount of all Swing Line Loans at such time shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Company may borrow under this Section 2.042.13(a), prepay under Section 2.062.04(b)(iii), and reborrow under this Section 2.042.13(a). Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of based on the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Credit Lender’s Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan. Notwithstanding anything to the contrary contained herein, the Swingline Lender shall not at any time be obligated to make any Swingline Loan hereunder if any Lender is at such time a Defaulting Lender, unless the Company has entered into arrangements satisfactory to the Swingline Lender to eliminate the Swingline Lender’s risk with respect to such Lender.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Dollar Revolving Credit Loans and Dollar L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Swing Line Lender’s Dollar Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Dollar Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Dollar L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Dollar Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line LoanCommitment then in effect. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.06, 2.05 and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Dollar Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (Alltel Corp)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until the Maturity Date applicable to the Revolving Credit Termination Date Facility 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share (determined on the basis of the aggregate amount of its Revolving Credit Commitment as a percentage of the Aggregate Revolving Credit Commitments) of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Lender, plus such Lender’s Pro Rata Share (determined on the basis of the aggregate amount of its Revolving Lender Credit Commitment as a percentage of the Aggregate Revolving Credit Commitments) of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, Commitment then in effect; provided further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share (determined on the basis of the aggregate amount of its Revolving Credit Commitment as a percentage of the Aggregate Revolving Credit Commitments) times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (Travelport LTD)
The Swing Line. Subject to On the terms and subject to the conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) in Dollars to Borrowers the Borrower from time to time on any Business Day until during the Revolving Credit Termination period from the Closing Date up to but not including the Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line LenderLender in its capacity as a Lender of Revolving Loans, may exceed the amount of such Revolving Lender’s Revolving Credit Loan Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Total Revolving Loan Commitment at such time, and (ii) the aggregate Effective Amount of the Revolving Credit Outstandings Loans of any Lender (other than the Swing Line Lender), plus such Lender’s Revolving Lender Proportionate Share of the Effective Amount of all L/C Obligations, plus such Lender’s Revolving Proportionate Share of the Effective Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Loan Commitment, and provided, further, that Borrowers the Swing Line Lender shall not use the proceeds of make any Swing Line Loan to refinance any an outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.03, prepay under Section 2.06, and reborrow under this Section 2.042.03. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage Revolving Proportionate Share times the amount of such Swing Line Loan. Furthermore, before making any Swing Line Loans (if at such time any Lender is a Deteriorating Lender), the Swing Line Lender may condition the provision of such Swing Line Loans on its receipt of Cash Collateral or similar security satisfactory to the Swing Line Lender (in its sole discretion) from either the Borrower or such Deteriorating Lender in respect of such Deteriorating Lender’s risk participation in such Swing Line Loans as set forth below. The Borrower and/or such Deteriorating Lender hereby grants to the Administrative Agent, for the benefit of the Swing Line Lender, a security interest in all such Cash Collateral and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts at ▇▇▇▇▇ Fargo and may be invested in Cash Equivalents reasonably acceptable to the Administrative Agent. Such accounts must be subject to control agreements pursuant to which the Administrative Agent has “control,” as such term is used in the Uniform Commercial Code, sufficient to perfect on a first priority basis a security interest in such cash collateral. If at any time the Administrative Agent determines that any funds held as Cash Collateral are subject to any right or claim of any Person other than the Administrative Agent or that the total amount of such funds is less than the aggregate risk participation of such Deteriorating Lender in the relevant Swing Line Loan, the Borrower and/or such Deteriorating Lender will, promptly upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate risk participation over (y) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent determines to be free and clear of any such right and claim. At such times there are Swing Ling Loans outstanding for which funds are on deposit as Cash Collateral, such funds shall be applied as and when determined by the Swing Line Lender, to the extent permitted under applicable Governmental Approvals, to reimburse and otherwise pay the applicable obligations owing to the Swing Line Lender. The Lien held by the Administrative Agent in such Cash Collateral to secure the Obligations shall be released upon the earlier of (a) the date such Deteriorating Lender is replaced with a replacement Lender pursuant to Section 2.15 and (b) the date each of the following conditions is satisfied: (i) no Swing Line Loans shall be outstanding, (ii) all Swing Line Loans shall have been repaid in full and (iii) no Default shall have occurred and be continuing.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth hereinherein (including without limitation Section 2.02), the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit$50,000,000, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Class Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Credit Lender acting as Swing Line LenderLender of the outstanding principal amount of the Revolving Credit Loans and R/C Letter of Credit Outstandings, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, Loan and the risk participations purchased by the Revolving Credit Outstandings Lenders as set forth in the last sentence of this paragraph, the aggregate outstanding principal amount of the Revolving Credit Loans of any Revolving Lender Credit Lender, plus such Revolving Credit Lender’s Class Percentage of the R/C Letter of Credit Outstandings, plus such Revolving Credit Lender’s Class Percentage of the outstanding principal amount of all Swing Line Loans shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04borrow, prepay under Section 2.06, and reborrow under this Section 2.042.08. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)be an ABR Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Credit Lender’s Applicable Class Percentage times the principal amount of such Swing Line Loan.
Appears in 1 contract
Sources: Term Loan and Revolving Credit Agreement (Federal-Mogul Corp)
The Swing Line. Subject to the terms and conditions set forth herein, the Bank of AmericaJPMorgan, in its capacity as Swing Line Lender mayLender, but shall not be obligated tomay in its sole discretion, agree to make loans in reliance upon Dollars to the agreements of the other Lenders set forth in this Section 2.04 in Dollars Borrower (each such loan, a “Swing Line Loan”) to Borrowers ), from time to time on any Business Day during the period beginning on the Closing Date and until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Swing Line Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, (i) the Revolving Credit Outstandings Exposure shall not exceed the aggregate Revolving Credit Commitment and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Revolving Lender (other than the relevant Swing Line Lender), plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, Commitment then in effect; provided further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan. Notwithstanding the foregoing, before making any Swing Line Loans (if at such time any Revolving Credit Lender is a Defaulting Lender), the applicable Swing Line Lender may condition the provision of any Swing Line Loans on its receipt of Cash Collateral or similar security satisfactory to such Swing Line Lender (in its sole discretion) from either the Borrower or such Defaulting Lender in respect of such Defaulting Lender’s risk participation in such Swing Line Loans as set forth below. The Borrower and/or such Defaulting Lender hereby grants to the Administrative Agent, for the benefit of the Swing Line Lender, a security interest in all such Cash Collateral and all proceeds of the foregoing. Such Cash Collateral shall be maintained in blocked deposit accounts at Bank of AmericaJPMorgan and may be invested in Cash Equivalents reasonably acceptable to the Administrative Agent. If at any time the Administrative Agent determines that any funds held as Cash Collateral under this paragraph are subject to any right or claim of any Person other than the Administrative Agent for the benefit of the Swing Line Lender or that the total amount of such funds is less than the aggregate risk participation of such Defaulting Lender in the applicable Swing Line Loan, the Borrower and/or such Defaulting Lender will, promptly upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate risk participation over (y) the total amount of funds, if any, then held as Cash Collateral under this paragraph that the Administrative Agent determines to be free and clear of any such right and claim. If the Revolving Credit Lender that triggers the Cash Collateral requirement under this paragraph ceases to be a Defaulting Lender (as determined by the Swing Line Lender in good faith), or if the Swing Line Commitments have been permanently reduced to zero, the funds held as Cash Collateral shall thereafter be returned to the Borrower or the Defaulting Lender, whichever provided the funds for the Cash Collateral.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the JPMorgan Chase Bank, N.A., in its capacity as Swing Line Lender mayLender, but shall not be obligated tomay in its sole discretion, agree to make loans in reliance upon Dollars to the agreements of the other Lenders set forth in this Section 2.04 in Dollars Borrower (each such loan, a “Swing Line Loan”) to Borrowers ), from time to time on any Business Day during the period beginning after the Closing Date and until the Maturity Date for the Revolving Credit Termination Facility applicable to the Swing Line Lender (or with respect to any Swing Line Loan outstanding with respect to an Extended Revolving Credit Commitment of the Swing Line Lender, the Maturity Date applicable thereto) 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Swing Line Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, (i) the Revolving Credit Outstandings Exposure shall not exceed the aggregate Revolving Credit Commitment and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Revolving Lender (other than the relevant Swing Line Lender), plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, Commitment then in effect; provided further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until the Revolving Credit Termination Initial Revolver Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, (x) the Revolving Credit Outstandings aggregate principal amount of any Revolving outstanding Swing Line Loans made by the Swing Line Lender shall not exceed such Swing Line Lender’s Swing Line Commitment, (y) the Total Revolving Outstandings with respect to the Initial Revolving Credit Facility shall not exceed the aggregate Initial Revolving Credit Commitments and (z) the Revolving Outstandings of any Lender under the Initial Revolving Credit Facility shall not exceed such Lender’s Revolving Credit CommitmentCommitment (in each case, and taking the Dollar Equivalent of all amounts in an Alternate Currency); provided, further, further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04Section 2.05, prepay under Section 2.06, Section 2.06 and reborrow under this Section 2.04Section 2.05. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Initial Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.. 85
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the Closing Date) until the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit CommitmentCommitment then in effect; provided further that, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayagrees, but shall not be obligated to, make loans in reliance upon the agreements of the other Revolving Loan Lenders set forth in this Section 2.04 in Dollars 2.04, to make loans (each such loan, a “"Swing Line Loan”") to the Borrowers from time to time on any Business Day until during the Revolving Credit Termination Date Availability Period 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Loan Lender acting as Swing Line Lender, may exceed the amount of such Revolving Loan Lender’s Revolving Credit 's Commitment; provided, however, provided that after giving effect to any Swing Line Loan, (i) the Outstanding Amount of Revolving Loans shall not exceed the Aggregate Revolving Loan Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Loan Lender, plus such Revolving Loan Lender's Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Loan Lender's Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Loan Lender’s Revolving Credit 's Commitment, and provided, further, that the Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Loan 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 Loan Lender’s Applicable Percentage 's Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to On the terms and subject to the conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) in Dollars to the Borrowers from time to time on any Business Day until during the Revolving Credit Termination period from the Fifth Restatement Effective Date up to but not including the Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line LenderLender in its capacity as a Lender of Revolving Loans, may exceed the amount of such Revolving Lender’s Revolving Credit Loan Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Total Revolving Loan Commitment at such time, and (ii) the aggregate Effective Amount of the Revolving Credit Outstandings Loans of any Revolving Lender (other than the Swing Line Lender), plus such Lender’s Total Lender Risk Participation shall not exceed such Revolving Lender’s Revolving Credit Proportionate Share of the Total Revolving Loan Commitment, and provided, further, that Borrowers (x) the Swing Line Lender shall not use the proceeds of make any Swing Line Loan to refinance any an outstanding Swing Line LoanLoan and (y) the Borrowers shall be entitled to no more than five (5) Swing Line Loans in any month. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.042.03, prepay under Section 2.06, and reborrow under this Section 2.042.03. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 such ▇▇▇▇▇▇’s Swing Line Risk Participation with respect to such Swing Line Loan. If there at any time exists a Defaulting Lender, unless such ▇▇▇▇▇▇’s Fronting Exposure has been reallocated to other Lenders in accordance with Section 2.16(a), before making any Swing Line Loans, the product of such Revolving Lender’s Applicable Percentage times Swing Line Lender may condition the amount provision of such Swing Line LoanLoans on its entering 4147-6459-6034 into arrangements satisfactory to the Swing Line Lender with the Borrowers or such Defaulting Lender to eliminate the Swing Line Lender’s Fronting Exposure.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayagrees, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars 2.01(d), to make loans (each such loan, a “Swing Line Loan”) ), to Borrowers the Borrower from time to time on any Business Day until during the period from the Closing Date to and up to, but excluding, the Revolving Credit Termination Date Date, 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 Loans, when aggregated with the Applicable Percentage Share of the Outstanding Amount outstanding amount of Revolving Credit Loans and L/C LC Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (A) the sum of the aggregate outstanding amount of the Revolving Credit Outstandings Loans plus the Swing Line Loans plus LC Obligations shall not exceed the Aggregate Commitments at such time, and (B) the sum of the aggregate outstanding amount of the Revolving Credit Loans of any Revolving Lender (other than the Swing Line Lender) at such time, plus such Lender’s Percentage Share of the outstanding amount of all LC Obligations at such time, plus such Lender’s Percentage Share of the outstanding amount of all Swing Line Loans at such time shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.01(d), prepay under Section 2.062.07, and reborrow under this Section 2.042.01(d). If the Autoborrow Agreement is in effect, prepayments of Swing Loans shall be made as provided in the Autoborrow Agreement. Each Swing Line Loan shall bear interest until maturity only at a rate per annum equal to (i) the sum of based on the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Lender (other than the Swing Line 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 Applicable Percentage Share times the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to On the terms and subject to the conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) in Dollars to the Borrowers from time to time on any Business Day until during the Revolving Credit Termination period from the Sixth Restatement Effective Date up to but not including the Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line LenderLender in its capacity as a Lender of Revolving Loans, may exceed the amount of such Revolving Lender’s Revolving Credit Loan Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Total Revolving Loan Commitment at such time, and (ii) the aggregate Effective Amount of the Revolving Credit Outstandings Loans of any Revolving Lender (other than the Swing Line Lender), plus such Lender’s Total Lender Risk Participation shall not exceed such Revolving Lender’s Revolving Credit Proportionate Share of the Total Revolving Loan Commitment, and provided, further, that Borrowers (x) the Swing Line Lender shall not use the proceeds of make any Swing Line Loan to refinance any an outstanding Swing Line LoanLoan and (y) the Borrowers shall be entitled to no more than five (5) Swing Line Loans in any month. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.042.03, prepay under Section 2.06, and reborrow under this Section 2.042.03. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 ▇▇▇▇▇▇’s Swing Line Risk Participation with respect to such Swing Line Loan. If there at any time exists a Defaulting Lender, unless such Lender’s Applicable Percentage times Fronting Exposure has been reallocated to other Lenders in accordance with Section 2.16(a), before making any Swing Line Loans, the amount Swing Line Lender may condition the provision of such Swing Line Loan.Loans on its entering into arrangements satisfactory to the Swing Line Lender with the Borrowers or such Defaulting Lender to eliminate the Swing Line Lender’s Fronting Exposure. 4140-1311-9828
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayLender, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars 2.04, shall make loans (each such loan, a “Swing Line Loan”) in Dollars to the Borrowers from time to time on any Business Day on or after the Restatement Effective Date until the Maturity Date of the Revolving Credit Termination Date Facility in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line SublimitSublimit by transferring immediately available funds in the amount of such Borrowing to the Designated Account, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Credit Lender acting as the Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the lesser of the Aggregate Commitments and, subject to Section 2.02(h) and (i), the Borrowing Base at such time and (ii) the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Credit Lender, plus such Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations at such time, plus such Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans at such time shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, and ; provided, further, that the Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.04, prepay under Section 2.06, 2.05 and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of based on the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Credit Lender’s Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Abl Credit Agreement (GMS Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “"Swing Line Loan”") in Dollars, to Borrowers the Borrower from time to time on any Business Day until during the period from the Closing Date to the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the aggregate Outstanding Amount of Revolving Loans and Pro Rata Revolving Share of L/C Obligations of the Revolving Lender acting as Swing Line Lender in its capacity as a Revolving Lender, may exceed the amount of such Revolving Swing Line Lender’s 's Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Outstanding Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Aggregate Revolving Credit Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender other than the Swing Line Lender, plus such Revolving Lender's Pro Rata Revolving Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender's Pro Rata Revolving Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s 's Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.05, prepay under Section 2.06, and reborrow under this Section 2.042.05. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage 's Pro Rata Revolving Share times the amount of such the Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (Jarden Corp)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”"SWING LINE LOAN") to Borrowers the Borrower from time to time on any Business Day until during the period from the Funding Date to the Revolving Credit Termination Loan Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and Negotiated Rate Loans plus the Pro Rata Share of the Outstanding Amount of L/C Obligations of the Revolving Lender acting as Swing Line LenderLender in its capacity as a Lender of Revolving Loans and Negotiated Rate Loans, may exceed the amount of such Lender's Revolving Lender’s Revolving Credit Loan Commitment; providedPROVIDED, howeverHOWEVER, that after giving effect to any Swing Line Loan, (i) the aggregate Outstanding Revolving Credit Outstandings of any Revolving Lender Obligations shall not exceed such the combined Revolving Loan Commitments, and (ii) other than the Swing Line Lender, no Revolving Lender’s 's Pro Rata Share of the aggregate Outstanding Revolving Credit Obligations shall exceed such Lender's Revolving Loan Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04SECTION 2.06, prepay under Section 2.06SECTION 2.05, and reborrow under this Section 2.04SECTION 2.06. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of the Base Rate plus PLUS the Applicable Margin Rate for Revolving Loans that are Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)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 Applicable Percentage times 's Pro Rata Share TIMES the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to On the terms and subject to the conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, may in its sole and absolute discretion make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) in Dollars to Borrowers the Borrower from time to time on any Business Day until during the Revolving Credit Termination period from the Closing Date up to but not including the Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line LenderLender in its capacity as a Lender of Revolving Loans, may exceed the amount of such Revolving Lender’s Revolving Credit Loan Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Total Revolving Loan Commitment at such time, and (ii) the aggregate Effective Amount of the Revolving Credit Outstandings Loans of any Lender (other than the Swing Line Lender), plus such Lender’s Revolving Lender Proportionate Share of the Effective Amount of all L/C Obligations, plus such Lender’s Revolving Proportionate Share of the Effective Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Loan Commitment, and provided, further, that Borrowers the Swing Line Lender shall not use the proceeds of make any Swing Line Loan to refinance any an outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.03, prepay under Section 2.06, and reborrow under this Section 2.042.03. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage Revolving Proportionate Share times the amount of such Swing Line Loan. Furthermore, before making any Swing Line Loans (if at such time any Lender is a Deteriorating Lender), the Swing Line Lender may condition the provision of such Swing Line Loans on its receipt of Cash Collateral or similar security satisfactory to the Swing Line Lender (in its sole discretion) from either the Borrower or such Deteriorating Lender in respect of such Deteriorating Lender’s risk participation in such Swing Line Loans as set forth below. The Borrower and/or such Deteriorating Lender hereby grants to the Administrative Agent, for the benefit of the Swing Line Lender, a security interest in all such Cash Collateral and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, deposit accounts at ▇▇▇▇▇ Fargo and may be invested in Cash Equivalents reasonably acceptable to the Administrative Agent. If at any time the Administrative Agent determines that any funds held as Cash Collateral are subject to any right or claim of any Person other than the Administrative Agent or that the total amount of such funds is less than the aggregate risk participation of such Deteriorating Lender in the relevant Swing Line Loan, the Borrower and/or such Deteriorating Lender will, promptly upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate risk participation over (y) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent determines to be free and clear of any such right and claim. At such times there are Swing Ling Loans outstanding for which funds are on deposit as Cash Collateral, such funds shall be applied as and when determined by the Swing Line Lender, to the extent permitted under applicable Governmental Approvals, to reimburse and otherwise pay the applicable obligations owing to the Swing Line Lender.
Appears in 1 contract
Sources: Credit Agreement (Valueclick Inc/Ca)
The Swing Line. Subject to On the terms and subject to the conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) in Dollars to Borrowers the Borrower from time to time on any Business Day until during the Revolving Credit Termination period from the Closing Date up to but not including the Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line LenderLender in its capacity as a Lender of Revolving Loans, may exceed the amount of such Revolving Lender’s Revolving Credit Loan Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Total Revolving Loan Commitment at such time, and (ii) the aggregate Effective Amount of the Revolving Credit Outstandings Loans of any Lender (other than the Swing Line Lender), plus such Lender’s Revolving Lender Proportionate Share of the Effective Amount of all L/C Obligations, plus such Lender’s Revolving Proportionate Share of the Effective Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Loan Commitment, and provided, further, that Borrowers the Swing Line Lender shall not use the proceeds of make any Swing Line Loan to refinance any an outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.03, prepay under Section 2.06, and reborrow under this Section 2.042.03. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage Revolving Proportionate Share times the amount of such Swing Line Loan. Furthermore, before making any Swing Line Loans (if at such time any Lender is a Defaulting Lender), the Swing Line Lender may condition the provision of such Swing Line Loans on its receipt of Cash Collateral or similar security satisfactory to the Swing Line Lender (in its sole discretion) from such Defaulting Lender in respect of such Defaulting Lender’s risk participation in such Swing Line Loans as set forth below; provided that if such Defaulting Lender fails to provide such Cash Collateral, the Borrower shall provide such Cash Collateral within five (5) Business Days of written demand from the Administrative Agent. The Borrower and such Defaulting Lender, as applicable, hereby grant to the Administrative Agent, for the benefit of the Swing Line Lender, a security interest in all such Cash Collateral and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, deposit accounts at ▇▇▇▇▇ Fargo and may be invested in Cash Equivalents reasonably acceptable to the Administrative Agent. Such accounts must be subject to control agreements pursuant to which the Administrative Agent has “control,” as such term is used in the Uniform Commercial Code, sufficient to perfect on a first priority basis a security interest in such cash collateral. If at any time the Administrative Agent determines that any funds held as Cash Collateral are subject to any right or claim of any Person other than the Administrative Agent or that the total amount of such funds is less than the aggregate risk participation of such Defaulting Lender in the relevant Swing Line Loan, the Borrower and/or such Defaulting Lender will, promptly upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate risk participation over (y) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent determines to be free and clear of any such right and claim. At such times there are Swing Ling Loans outstanding for which funds are on deposit as Cash Collateral, such funds shall be applied as and when determined by the Swing Line Lender, to the extent permitted under applicable Governmental Approvals, to reimburse and otherwise pay the applicable obligations owing to the Swing Line Lender.
Appears in 1 contract
Sources: Credit Agreement (IPC the Hospitalist Company, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “"Swing Line Loan”") in Dollars, to Borrowers the Borrower from time to time on any Business Day until during the period from April 24, 2002 to the Revolving Credit Termination Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the aggregate Outstanding Amount of Revolving Loans and Pro Rata Revolving Share of L/C Obligations of the Revolving Lender acting as Swing Line Lender in its capacity as a Revolving Lender, may exceed the amount of such Revolving Swing Line Lender’s 's Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Outstanding Amount of all Revolving Loans, Swing Line Loans and L/C Obligations shall not exceed the Aggregate Revolving Credit Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender other than the Swing Line Lender, plus such Revolving Lender's Pro Rata Revolving Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender's Pro Rata Revolving Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s 's Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.05, prepay under Section 2.06, and reborrow under this Section 2.042.05. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage 's Pro Rata Revolving Share times the amount of such the Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (Jarden Corp)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon Dollars to the agreements of the other Lenders set forth in this Section 2.04 in Dollars Borrower (each such loan, a “Swing Line Loan”) to Borrowers ), from time to time on any Business Day during the period beginning on the Business Day after the Closing Date until the date which is one (1) Business Day prior to the Maturity Date of the Revolving Credit Termination Commitments (taking into account the Maturity Date of any Revolving Credit Commitment that will automatically come into effect on such Maturity Date) in CHAR1\1970297v6 an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of the Swing Line Lender’s Revolving Credit Commitment; provided that, after giving effect to any Swing Line Loan (i) the Revolving Credit Exposure under such Revolving Credit Commitments shall not exceed the aggregate Revolving Credit Commitments, and (ii) the Revolving Credit Exposure of any Revolving Credit Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, the Revolving Credit Outstandings of any Revolving Lender shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Lend▇▇’▇ ▇ro Rata Share or other applicable share provided for under this Agreement times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (Portillo's Inc.)
The Swing Line. Subject to On the terms and subject to the conditions set forth hereinin Section 5.1 (in the case of any Swing Line Loan to be made on the Closing Date), Section 5.2 and this Section 2.16, the Swing Line Lender may, but shall not be obligated to, Bank agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”"SWING LINE LOAN") to Borrowers the Borrower from time to time on any Business Day until during the period from the Closing Date to the Revolving Credit Termination Date 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender Bank acting as Swing Line LenderBank, may exceed the amount of such the Swing Line Bank's Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the aggregate Effective Amount of all Revolving Loans, all Swing Line Loans and all L/C Obligations shall not exceed the Revolving Credit Outstandings Commitments of all the Banks, and (ii) the aggregate Effective Amount of the Revolving Loans of any Revolving Lender Bank, plus such Bank's Pro Rata Share of the Effective Amount of all L/C Obligations, plus such Bank's Pro Rata Share of the Effective Amount of all Swing Line Loans shall not exceed such Bank's Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.042.16, prepay under Section 2.062.6, and reborrow under this Section 2.042.16. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Lender Bank shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender Bank a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Applicable Percentage Bank's Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day until the Revolving Credit Termination Initial Revolver Maturity Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, (x) the Revolving Credit Outstandings aggregate principal amount of any Revolving outstanding Swing Line Loans made by the Swing Line Lender shall not exceed such Swing Line Lender’s Swing Line Commitment, (y) the Total Revolving Outstandings with respect to the Initial Revolving Credit Facility shall not exceed the aggregate Initial Revolving Credit Commitments and (z) the Revolving Outstandings of any Lender under the Initial Revolving Credit Facility shall not exceed such Lender’s Revolving Credit CommitmentCommitment (in each case, and taking the Dollar Equivalent of all amounts in an Alternate Currency); provided, further, further that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04Section 2.05, prepay under Section 2.06, Section 2.06 and reborrow under this Section 2.04Section 2.05. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Initial Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to On the terms and subject to the conditions set forth hereinin Section 5.1 (in the case of any Swingline Loan to be made on the Restatement Effective Date), Section 5.2 and this Section 2.16, the Swing Line Lender may, but shall not be obligated to, Bank agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line "Swingline Loan”") to the Borrowers from time to time on any Business Day until during the period from the Restatement Effective Date to the Revolving Credit Termination Date 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 Swingline Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Effective Amount of Revolving Loans and L/C Obligations of the Revolving Lender Bank acting as Swing Line LenderBank, may exceed the amount of such Bank's Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Swingline Loan, (i) the aggregate Effective Amount of all Revolving Loans, all Swingline Loans and all L/C Obligations shall not exceed the Revolving Credit Outstandings Commitments of all the Banks, and (ii) the aggregate Effective Amount of the Revolving Loans of any Revolving Lender Bank, plus such Bank's Pro Rata Share of the Effective Amount of all L/C Obligations, plus such Bank's Pro Rata Share of the Effective Amount of all Swingline Loans shall not exceed such Bank's Revolving Lender’s Revolving Credit Commitment, and provided, further, that the Borrowers shall not use the proceeds of any Swing Line Swingline Loan to refinance any outstanding Swing Line Swingline Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.042.16, prepay under Section 2.062.6, and reborrow under this Section 2.042.16. Each Swing Line Swingline Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Swingline Loan, each Revolving Lender Bank shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender Bank a risk participation in such Swing Line Swingline Loan in an amount equal to the product of such Revolving Lender’s Applicable Percentage Bank's Pro Rata Share times the amount of such Swing Line Swingline Loan.
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The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayagrees, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 2.04, to make loans in Dollars (each such loan, a “Swing Line Loan”) to the Borrowers from time to time on any Business Day until during the Revolving Credit Termination Date Availability Period 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 Loans, when aggregated with the Applicable Revolving Credit Percentage of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that (x) after giving effect to any Swing Line Loan, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Outstandings Facility at such time, and (ii) the Revolving Credit Exposure of any Revolving Credit Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, and provided, further, that (y) the Borrowers shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity only at a rate per annum equal to (i) the sum of based on the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Rate. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Credit Lender’s Applicable Revolving Credit Percentage times the amount of such Swing Line Loan.
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The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Borrower from time to time on any Business Day (other than the RestatementRevolving Effective Date) until the Maturity Date of the Revolving Credit Termination Date Facility 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit CommitmentCommitment then in effect; provided further that, and provided, further, that Borrowers the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, Borrowers the Borrower may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (Catalent, Inc.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayLender, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 2.04, may in its sole and absolute discretion make loans in Dollars (each such loan, a “Swing Line Loan”) to Borrowers the Company from time to time on any Business Day until during the Revolving Credit Termination Date Availability Period 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit CommitmentCommitment in its capacity as a Revolving Lender; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Lender, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers shall not use the proceeds of any . The Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits is a discretionary, uncommitted facility and subject to the discretion of the Swing Line Lender to make may terminate or suspend the Swing Line Loans, and subject at any time in its sole discretion upon notice to the other terms and conditions hereof, Borrowers Company which notice may borrow under this Section 2.04, prepay under Section 2.06, and reborrow under this Section 2.04be given by the Swing Line Lender before or after the Company requests a Swing Line Loan hereunder. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loan. 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 Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
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The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers Borrower from time to time on any Business Day until the Revolving Credit Termination Date 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 Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, the Revolving Credit Outstandings of any Revolving Lender shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, that Borrowers Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loans, and subject to the other terms and conditions hereof, Borrowers Borrower may borrow under this Section 2.04, prepay under Section 2.06, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 360 days for the actual number of days elapsed). 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 Applicable Percentage times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (CardConnect Corp.)
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender mayLender, but shall not be obligated to, make loans in reliance upon the agreements of the other Revolving Credit Lenders set forth in this Section 2.04 in Dollars 2.04, may, it its sole and absolute discretion, elect to advance a requested Revolving Credit Loan under Section 2.01(a) by making loans (each such loan, a “Swing Line Loan”) to Borrowers any Borrower from time to time on any Business Day until during the Revolving Credit Termination Date in an Availability Period; provided that, after giving effect to any Swing Line Loan made on any particular date, the aggregate amount of all Swing Line Loans outstanding on such date shall not to exceed at any time outstanding the amount of the Swing Line SublimitSublimit on such date, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Credit Lender acting as Swing Line Lender, may exceed the amount of such Revolving Credit Lender’s Revolving Credit Commitment; provided, however, that Commitment so long as (x) after giving effect to any Swing Line Loan, (A) Overall Excess Availability would be greater than $0, (B) Total Revolving Credit Outstandings would not exceed the Revolving Credit Outstandings of any Facility, and (C) except as noted above with respect to the Swing Line Lender, no Revolving Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, Exposure shall exceed its Revolving Credit Commitment and provided, further, that Borrowers (y) no Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.04borrow, prepay under Section 2.06, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed). Immediately upon the making of a Swing Line Loan, each Revolving Credit 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 Credit Lender’s Applicable Percentage times the amount of such Swing Line Loan.
Appears in 1 contract
The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender may, but shall not be obligated to, agrees to make loans in reliance upon the agreements of the other Lenders set forth in this Section 2.04 in Dollars (each such loan, a “Swing Line Loan”) to Borrowers each Borrower from time to time on any Business Day until (other than the Closing Date) during the Revolving Credit Termination Date Commitment Period 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 Loans, when aggregated with the Applicable Percentage Pro Rata Share of the Outstanding Amount of Revolving Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender’s Revolving Credit Commitment; provided, however, provided that after giving effect to any Swing Line Loan, the aggregate Dollar Amount of the Outstanding Amount of the Revolving Credit Outstandings Loans of any Revolving Lender Credit Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Dollar Amount of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Lender’s Revolving Credit Commitment, and provided, further, ; provided further that Borrowers neither Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits and subject to the discretion of the Swing Line Lender to make Swing Line Loanslimits, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.04, prepay under Section 2.062.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest until maturity at be a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit Facility as from time to time in effect or (ii) the Loan. Swing Line Lender’s Quoted Rate (computed on the basis of a year of 365/6 days for the actual number of days elapsed)Loans shall only be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a an unfunded risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender’s Applicable Percentage Pro Rata Share times the amount of such Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (Sensata Technologies Holland, B.V.)