Borrowing and Repayment Procedures. On each Business Day that the Target Balance exceeds the Collected Balance in the Swing Line Account (such amount, the “Target Balance Shortfall Amount”), the Company shall be deemed to have requested a Swing Line Loan to be disbursed on such Business Day in an amount equal to the Target Balance Shortfall Amount. On each Business Day that the Collected Balance in the Swing Line Account exceeds the Target Balance (such amount, the “Target Balance Excess Amount”), the Swing Line Lender shall, without any further authorization from or prior notice to the Company, to the extent any Swing Line Loans are outstanding, apply the Target Balance Excess Amount to the payment of such outstanding Swing Line Loans up to the Outstanding Amount thereof. All such disbursements and applications shall be effectuated in accordance with Swing Line Lender’s procedures and rules which govern the maintenance and operation of the Swing Line Account (collectively, the “Swing Line Rules”).
Borrowing and Repayment Procedures. 22 Section 6.1 Borrowing Procedures..................................................................22 Section 6.2
Borrowing and Repayment Procedures
