Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $15,000,000 or (ii) the total Revolving Credit Exposures exceeding the total Commitments; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. Each Swingline Loan shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower shall have requested a Money Market Rate Borrowing and the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline Lender shall be required to provide interest rate quotes for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the Swingline Lender.
Appears in 2 contracts
Samples: 364 Day Credit Agreement (Cambrex Corp), Five Year Credit Agreement (Cambrex Corp)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the each Swingline Lender agrees to make Swingline Loans to the Borrower Borrowers from time to time during the Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $15,000,000 or 100,000,000, (ii) the aggregate principal amount of outstanding Swingline Loans of any Swingline Lender exceeding the Swingline Commitment of such Swingline Lender, (iii) the Revolving Credit Exposure of any Swingline Lender exceeding the Commitment of such Swingline Lender, (iv) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans exceeding the total CommitmentsCommitments or (v) in the event the Commitment Termination Date shall have been extended as provided in Section 2.20, the sum of (x) the LC Exposure attributable to Letters of Credit expiring after any Existing Commitment Termination Date, plus (y) the aggregate principal amount of outstanding Competitive Loans maturing after such Existing Commitment Termination Date, plus (z) the Swingline Exposure attributable to Swingline Loans maturing after such Existing Commitment Termination Date exceeding the total Commitments that shall have been extended to a date after the latest expiration date of such Letters of Credit and the latest maturity date of such Competitive Loans and such Swingline Loans; provided that the (A) no Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline LoanLoan and (B) each Swingline Borrowing shall be made by the Swingline Lenders ratably in accordance with their respective Swingline Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower Borrowers may borrow, prepay and reborrow Swingline Loans. Each The failure of any Swingline Lender to make any Swingline Loan required to be made by it shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower shall have requested a Money Market Rate Borrowing and the not relieve any other Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in of its notice delivered pursuant to paragraph (b) below, obligations hereunder; provided that the Swingline Commitments of the Swingline Lenders are several and no Swingline Lender shall be responsible for any other Swingline Lender’s failure to make Swingline Loans as required. (b) Notice of Swingline Loans by the Parent Borrower. To request a Swingline Borrowing, the Parent Borrower shall notify the Administrative Agent of such request by telephone, not later than 3:00 p.m., New York City time, on the day of the proposed Swingline Borrowing. Each such notice shall be irrevocable and shall be confirmed promptly by hand delivery, facsimile or e-mail (in.pdf or .tif format) to the Administrative Agent of a written Borrowing Request in the form approved by the Administrative Agent and signed by a Responsible Officer of the Parent Borrower. Each such telephonic and written Borrowing Request shall specify, in compliance with Section 2.02, the requested date (which shall be a Business Day), the principal amount of the requested Swingline Borrowing and the location and number of the applicable Borrower’s account to which funds are to be disbursed, or, in the case of any Swingline Borrowing requested to finance the reimbursement of an LC Disbursement as provided in Section 2.06(f), the identity of the Issuing Lender that made such LC Disbursement. The Administrative Agent will promptly advise each Swingline Lender of any such Borrowing Request received from the Parent Borrower and of the amount of such Swingline Lender’s Swingline Loan to be made as part of the requested Swingline Borrowing. Each Swingline Lender shall make each Swingline Loan to be made by it hereunder available to the Borrowers by means of a credit to a deposit account of the applicable Borrower specified in such Borrowing Request (or, in the case of a Swingline Borrowing made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(f), by remittance to the relevant Issuing Lender) by 5:00 p.m., New York City time, on the requested date of such Swingline Loan. (c) Participations by Lenders in Swingline Loans. Each Swingline Lender may by written notice given to the Administrative Agent not later than 12:00 p.m., New York City time, on any Business Day require the Lenders to acquire participations on such Business Day in all or a portion of its Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Lenders will be required to provide interest rate quotes for a Money Market Rate Borrowing only subject participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees to pay, upon receipt of notice as provided above in this paragraph, to the availability Administrative Agent, in Dollars, for account of Money Market Rates by the applicable Swingline Lender., such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, -26-
Appears in 1 contract
Samples: Credit Agreement (Dillard's, Inc.)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the each Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $15,000,000 or 200,000,000, (ii) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans exceeding the total CommitmentsCommitments or (iii) in the event the Commitment Termination Date shall have been extended as provided in Section 2.20, the sum of (x) the LC Exposure attributable to Letters of Credit expiring after any Existing Commitment Termination Date, plus (y) the aggregate principal amount of outstanding Competitive Loans maturing after such Existing Commitment Termination Date, plus (z) the Swingline Exposure attributable to Swingline Loans maturing after such Existing Commitment Termination Date exceeding the total Commitments that shall have been extended to a date after the latest expiration date of such Letters of Credit and the latest maturity date of such Competitive Loans and such Swingline Loans; provided that the no Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. Each The Borrower may request any Swingline Loan shall be an ABR Borrowing unlessLoans from one or more of the Swingline Lenders, prior subject only to requesting a the limitation that the outstanding Swingline Loan, the Borrower shall have requested a Money Market Rate Borrowing and the Loans of any Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower at no time exceed its Swingline Commitment. The failure of any Swingline Lender to make any Swingline Loan required to be made by it shall select in not relieve any other Swingline Lender of its notice delivered pursuant to paragraph (b) below, obligations hereunder; provided that the Swingline Commitments of each Swingline Lender are several and no Swingline Lender shall be required to provide interest rate quotes responsible for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the any other Swingline Lender’s failure to make Swingline Loans as required.
Appears in 1 contract
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower Company from time to time during the Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Credit Agreement Loans exceeding $15,000,000 20,000,000 or (ii) the total Revolving Credit Exposures exceeding the total Commitments; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower Company may borrow, prepay and reborrow Swingline Loans. Each Swingline Loan shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower Company shall have requested a Money Market Rate Borrowing and the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower Company shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline Lender shall be required to provide interest rate quotes for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the Swingline Lender.
Appears in 1 contract
Samples: Credit Agreement (Cambrex Corp)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the each Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $15,000,000 or 100,000,000, (ii) the aggregate principal amount of outstanding Swingline Loans of any Swingline Lender exceeding the Swingline Commitment of such Swingline Lender, (iii) the Revolving Credit Exposure of any Swingline Lender exceeding the Commitment of such Swingline Lender, (iv) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans exceeding the total CommitmentsCommitments or (v) in the event the Commitment Termination Date shall have been extended as provided in Section 2.20, the sum of (x) the LC Exposure attributable to Letters of Credit expiring after any Existing Commitment Termination Date, plus (y) the aggregate principal amount of outstanding Competitive Loans maturing after such Existing Commitment Termination Date, plus (z) the Swingline Exposure attributable to Swingline Loans maturing after such Existing Commitment Termination Date exceeding the total Commitments that shall have been extended to a date after the latest expiration date of such Letters of Credit and the latest maturity date of such Competitive Loans and such Swingline Loans; provided that the (A) no Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline LoanLoan and (B) each Swingline Borrowing shall be made by the Swingline Lenders ratably in accordance with their respective Swingline Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. Each The failure of any Swingline Lender to make any Swingline Loan required to be made by it shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower shall have requested a Money Market Rate Borrowing and the not relieve any other Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in of its notice delivered pursuant to paragraph (b) below, obligations hereunder; provided that the Swingline Commitments of the Swingline Lenders are several and no Swingline Lender shall be required to provide interest rate quotes responsible for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the any other Swingline Lender’s failure to make Swingline Loans as required.
Appears in 1 contract
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, Period to (A) the Company in DollarsDollars and (B) the Swingline Subsidiary Borrower in any Agreed Swingline Foreign Currency, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans made to the Company exceeding $15,000,000 or 20,000,000, (ii) the aggregate principal amount of outstanding Swingline Loans made to the Swingline Subsidiary Borrower exceeding $20,000,000, (iii) the total Revolving Credit Exposures exceeding the total CommitmentsCommitments or (iv) the total Revolving Credit Exposures in respect of extensions of credit hereunder to the Swingline Subsidiary Borrower exceeding $75,000,000; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan; provided further that the Swingline Lender at its option may make any Swingline Loan to the Swingline Subsidiary Borrower by causing any domestic or foreign branch or Affiliate of JPMCB to make such Swingline Loan, provided that any exercise of such option shall not affect the obligation of the Swingline Subsidiary Borrower to repay such Swingline Loan in accordance with the terms of this Agreement. Within the foregoing limits and subject to the terms and conditions set forth herein, the Company or the Swingline Subsidiary Borrower may borrow, prepay and reborrow Swingline Loans. Each Swingline Loan to the Company shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower Company shall have requested a Money Market Rate Borrowing and the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower Company shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline Lender shall be required to provide interest rate quotes for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the Swingline Lender. Each Swingline Loan to the Swingline Subsidiary Borrower shall be a Eurocurrency Borrowing.
Appears in 1 contract
Samples: Credit Agreement (Cambrex Corp)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans in Dollars to the Borrower from time to time during the Availability Period, in Dollars, Period in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $15,000,000 the Swingline Sublimit or (ii) the total Revolving Credit Exposures exceeding the total Commitments; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. Each Immediately upon the making of a Swingline Loan shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower shall have requested a Money Market Rate Borrowing and the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline Lender shall be required to provide interest rate quotes for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the Swingline Lender, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swingline Lender a participation in such Swingline Loan in an amount equal to such Lender’s Applicable Percentage of the amount of such Swingline Loan.
Appears in 1 contract
Samples: Credit Agreement (Bard C R Inc /Nj/)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the each Swingline Lender agrees to make Swingline Loans to the Borrower Borrowers from time to time during the Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $15,000,000 or 100,000,000, (ii) the aggregate principal amount of outstanding Swingline Loans of any Swingline Lender exceeding the Swingline Commitment of such Swingline Lender, (iii) the Revolving Credit Exposure of any Swingline Lender exceeding the Commitment of such Swingline Lender, (iv) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans exceeding the total CommitmentsCommitments or (v) in the event the Commitment Termination Date shall have been extended as provided in Section 2.20, the sum of (x) the LC Exposure attributable to Letters of Credit expiring after any Existing Commitment Termination Date, plus (y) the aggregate principal amount of outstanding Competitive Loans maturing after such Existing Commitment Termination Date, plus (z) the Swingline Exposure attributable to Swingline Loans maturing after such Existing Commitment Termination Date exceeding the total Commitments that shall have been extended to a date after the latest expiration date of such Letters of Credit and the latest maturity date of such Competitive Loans and such Swingline Loans; provided that the (A) no Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline LoanLoan and (B) each Swingline Borrowing shall be made by the Swingline Lenders ratably in accordance with their respective Swingline Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower Borrowers may borrow, prepay and reborrow Swingline Loans. Each The failure of any Swingline Lender to make any Swingline Loan required to be made by it shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower shall have requested a Money Market Rate Borrowing and the not relieve any other Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in of its notice delivered pursuant to paragraph (b) below, obligations hereunder; provided that the Swingline Commitments of the Swingline Lenders are several and no Swingline Lender shall be required to provide interest rate quotes responsible for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the any other Swingline Lender’s failure to make Swingline Loans as required.
Appears in 1 contract
Samples: Year Credit Agreement (Dillards Inc)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Company and/or the Swingline Lender agrees to make Swingline Loans to the Subsidiary Borrower may, from time to time during the Availability Period, request the Swingline Lender, and the Swingline Lender may in Dollarsits sole discretion agree, to make Swingline Loans to (A) the Company in Dollars and (B) the Swingline Subsidiary Borrower in any Agreed Swingline Foreign Currency, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans made to either the Company or to the Swingline Subsidiary Borrower exceeding the Dollar Equivalent of $15,000,000 or 20,000,000, (ii) the Dollar Equivalent of the total Revolving Credit Exposures exceeding the Aggregate Commitment, (iii) the Dollar Equivalent of the total CommitmentsRevolving Credit Exposures in respect of Credit Events hereunder that are denominated in Foreign Currencies exceeding the Foreign Currency Sublimit or (iv) the Dollar Equivalent of the total Revolving Credit Exposures in respect of Credit Events of Subsidiary Borrowers exceeding the Subsidiary Borrower Sublimit; provided that the Swingline Lender shall not be required to make a no Swingline Loan shall be used to refinance an outstanding Swingline Loan; provided, further, that the Swingline Lender at its option may make any Swingline Loan to the Swingline Subsidiary Borrower by causing any domestic or foreign branch or Affiliate of the Swingline Lender to make such Swingline Loan; provided that any exercise of such option shall not affect the obligation of the Swingline Subsidiary Borrower to repay such Swingline Loan in accordance with the terms of this Agreement. Within the foregoing limits and subject to the terms and conditions set forth herein, the Company or the Swingline Subsidiary Borrower may borrow, prepay and reborrow Swingline LoansLoans provided in the sole discretion of the Swingline Lender. Each Swingline Loan to the Company shall be an ABR Borrowing unless, prior or a Daily LIBO Rate Borrowing as elected by the Company and denominated in Dollars. Each Swingline Loan to requesting a the Swingline Loan, the Subsidiary Borrower shall have requested be a Money Market Daily LIBO Rate Borrowing and denominated in an Agreed Foreign Currency. Swingline Loans made hereunder shall constitute utilization of the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline Lender shall be required to provide interest rate quotes for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the Swingline LenderRevolving Credit Commitments.
Appears in 1 contract
Samples: Credit Agreement (Cambrex Corp)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Company and/or the Swingline Lender agrees to make Swingline Loans to the Subsidiary Borrower may, from time to time during the Availability Period, request the Swingline Lender, and the Swingline Lender may in Dollarsits sole discretion agree, to make Swingline Loans to (A) the Company in Dollars and (B) the Swingline Subsidiary Borrower in any Agreed Swingline Foreign Currency, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans made to either the Company or to the Swingline Subsidiary Borrower exceeding the Dollar Equivalent of $15,000,000 or 20,000,000, (ii) the Dollar Equivalent of the total Revolving Credit Exposures exceeding the Aggregate Commitment, (iii) the Dollar Equivalent of the total CommitmentsRevolving Credit Exposures in respect of Credit Events hereunder that are denominated in Foreign Currencies exceeding the Foreign Currency Sublimit or (iv) the Dollar Equivalent of the total Revolving Credit Exposures in respect of Credit Events of Subsidiary Borrowers exceeding the Subsidiary Borrower Sublimit; provided that the Swingline Lender shall not be required to make a no Swingline Loan shall be used to refinance an outstanding Swingline Loan; provided, further, that the Swingline Lender at its option may make any Swingline Loan to the Swingline Subsidiary Borrower by causing any domestic or foreign branch or Affiliate of the Swingline Lender to make such Swingline Loan; provided that any exercise of such option shall not affect the obligation of the Swingline Subsidiary Borrower to repay such Swingline Loan in accordance with the terms of this Agreement. Within the foregoing limits and subject to the terms and conditions set forth herein, the Company or the Swingline Subsidiary Borrower may borrow, prepay and reborrow Swingline LoansLoans provided in the sole discretion of the Swingline Lender. Each Swingline Loan to the Company shall be an ABR Borrowing unless, prior or a Daily LIBO Rate Borrowing as elected by the Company. Each Swingline Loan to requesting a the Swingline Loan, the Subsidiary Borrower shall have requested be a Money Market Rate Borrowing and Eurocurrency Borrowing. Swingline Loans made hereunder shall constitute utilization of the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline Lender shall be required to provide interest rate quotes for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the Swingline LenderRevolving Credit Commitments.
Appears in 1 contract
Samples: Credit Agreement (Cambrex Corp)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, Period to (A) the Company in DollarsDollars and (B) the Swingline Subsidiary Borrower in any Agreed Swingline Foreign Currency, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans made to the Company exceeding $15,000,000 or 20,000,000, (ii) the aggregate principal amount of outstanding Swingline Loans made to the Swingline Subsidiary Borrower exceeding $20,000,000, (iii) the Dollar Equivalent of the total Revolving Credit Exposures exceeding the total Commitments, (iv) the Dollar Equivalent of the total Revolving Credit Exposures in respect of extensions of credit hereunder that are denominated in Foreign Currencies exceeding the Foreign Currency Sublimit or (v) the Dollar Equivalent of the total Revolving Credit Exposures in respect of extensions of credit hereunder to the Swingline Subsidiary Borrower exceeding the Subsidiary Borrower Sublimit; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan; provided further that the Swingline Lender at its option may make any Swingline Loan to the Swingline Subsidiary Borrower by causing any domestic or foreign branch or Affiliate of JPMCB to make such Swingline Loan, provided that any exercise of such option shall not affect the obligation of the Swingline Subsidiary Borrower to repay such Swingline Loan in accordance with the terms of this Agreement. Within the foregoing limits and subject to the terms and conditions set forth herein, the Company or the Swingline Subsidiary Borrower may borrow, prepay and reborrow Swingline Loans. Each Swingline Loan to the Company shall be an ABR Borrowing unless, prior to requesting a Swingline Loan, the Borrower Company shall have requested a Money Market Rate Borrowing and the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower Company shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline Lender shall be required to provide interest rate quotes for a Money Market Rate Borrowing only subject to the availability of Money Market Rates by the Swingline Lender. Each Swingline Loan to the Swingline Subsidiary Borrower shall be a Eurocurrency Borrowing. Swingline Loans made hereunder shall constitute utilization of the Commitments.
Appears in 1 contract
Samples: Credit Agreement (Cambrex Corp)
Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, in Dollars, Period in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $15,000,000 the Swingline Sublimit, (ii) Swingline Lender’s Revolving Credit Exposure exceeding its Commitment or (iiiii) the total Revolving Credit Exposures Exposure of all the Lenders exceeding the total CommitmentsTotal Commitment; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline LoanLoan or to finance the reimbursement of a Reimbursement Obligation in respect of a Letter of Credit. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. Each Immediately upon the making of a Swingline Loan shall be an ABR Borrowing unlessby Swingline Lender, prior to requesting a Swingline Loan, the Borrower shall have requested a Money Market Rate Borrowing and the Swingline Lender shall have quoted a Money Market Rate therefor which the Borrower shall select in its notice delivered pursuant to paragraph (b) below, provided that the Swingline each Lender shall be required deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Swingline Lender a participation in such Swingline Loan in an amount equal to provide interest rate quotes for a Money Market Rate Borrowing only subject to such Xxxxxx’s Proportionate Share of the availability amount of Money Market Rates by the such Swingline LenderLoan.
Appears in 1 contract