Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 12 contracts

Samples: Credit Agreement and Security Agreement (Paylocity Holding Corp), Credit Agreement (Meridian Bioscience Inc), Credit Agreement (Paylocity Holding Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 11 contracts

Samples: Credit Agreement (Crocs, Inc.), Credit Agreement (Crocs, Inc.), Credit Agreement (Ii-Vi Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations (to the extent applicable, calculated in Dollar Equivalents). Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 6 contracts

Samples: Credit Agreement (Foster L B Co), Credit Agreement (RPM International Inc/De/), Credit Agreement (Foster L B Co)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 5 contracts

Samples: Credit Agreement (K12 Inc), Credit Agreement (Sun Hydraulics Corp), Credit Agreement (Black Box Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, ; provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or ~~telex~~e-mail) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 5 contracts

Samples: Credit Agreement (Steel Partners Holdings L.P.), Credit Agreement (Steel Partners Holdings L.P.), Credit Agreement (Steel Partners Holdings L.P.)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.6.4 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 4 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Lenders' Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 4 contracts

Samples: Credit Agreement (Hallador Energy Co), Credit Agreement (Hallador Energy Co), Credit Agreement (Hallador Energy Co)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason ~~whatsoever~~whatsoever (and in addition to any right to require payment on any Settlement Date in accordance with Section 5.11 [Settlement Date Procedures]), demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [~~Revolving Credit~~ Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [~~Revolving Credit~~ Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 3 contracts

Samples: Credit Agreement (Helios Technologies, Inc.), Credit Agreement (Helios Technologies, Inc.), Credit Agreement (Helios Technologies, Inc.)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Revolver Lender shall make a Revolving Credit Loan in an amount equal to such Revolver Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Revolver Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Revolver Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Revolver Lenders, and the Revolver Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Revolver Lenders receive such notice from PNC.

Appears in 3 contracts

Samples: Security Agreement (Armstrong Energy, Inc.), Security Agreement (Armstrong Resource Partners, L.P.), Credit Agreement (Armstrong Energy, Inc.)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan to the US Revolving Borrowers in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 3 contracts

Samples: Credit Agreement (Mastech Digital, Inc.), Credit Agreement (Mastech Digital, Inc.), Credit Agreement (Mastech Digital, Inc.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 3 contracts

Samples: Intercompany Subordination Agreement (Under Armour, Inc.), Intercompany Subordination Agreement (Under Armour, Inc.), Intercompany Subordination Agreement (Under Armour, Inc.)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Revolving Credit Lender shall make a Revolving Credit Loan in an amount equal to such Revolving Credit Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4 without regard to any of the requirements of that provision. ~~PNC~~ Upon notice from the Swing Loan Lender, the Agent shall provide notice to the Revolving Credit Lenders (which may be telephonic or written notice by letter, ~~facsimile~~ facsimile, telex or ~~telex~~electronic transmission) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the Revolving Credit Lenders, and the Revolving Credit Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4 are then satisfied) by the time ~~PNC~~ the Swing Loan Lender so requests, which shall not be earlier than 3:00 ~~p.m.~~ p.m., Pittsburgh time, on the Business Day next after the date the Revolving Credit Lenders receive such notice from ~~PNC~~the Agent.

Appears in 3 contracts

Samples: Credit Agreement (Calgon Carbon Corporation), Credit Agreement (Calgon Carbon Corporation), Credit Agreement (Calgon Carbon Corporation)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, and upon consultation with the Borrower, exercisable at any time for any reason whatsoever, demand ~~repayment of the Swing Loans, and~~ that each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans made in accordance with Section 2.5.2 (Making Swing Loans), plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [~~2.4.1 (Revolving Credit Loan Requests] ) without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [~~2.4.1 (Revolving Credit Loan Requests] ) or Section 6.2 (Each Additional Loan or Letter of Credit) are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ three o'clock (3:00) p.m. Eastern time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC.~~PNC Bank. 2.9

Appears in 3 contracts

Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4(a) [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5(e) and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 6.2 [~~Revolving Credit~~ Each Loan ~~Requests~~or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. Philadelphia time on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 3 contracts

Samples: Credit Agreement (Gsi Commerce Inc), Credit Agreement (Gsi Commerce Inc), Credit Agreement (Gsi Commerce Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.05(a) [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ (e) and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.05(a) [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 3 contracts

Samples: Credit Agreement (Funko, Inc.), Credit Agreement (Funko, Inc.), Credit Agreement (Funko, Inc.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.9 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 3 contracts

Samples: Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 3 contracts

Samples: Credit Agreement (Koppers Holdings Inc.), Assignment and Assumption Agreement (Koppers Holdings Inc.), Security Agreement (Koppers Holdings Inc.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, and upon consultation with the Borrower, exercisable at any time for any reason whatsoever, demand ~~repayment of the Swing Loans, and~~ that each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans made in accordance with Section 2.5.2 [Making Swing Loans], plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of ~~Letter~~ Letters of Credit ~~Obligations~~Outstanding minus its Ratable Share of Swing Loans outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] or Section 6.2 [Each Additional Loan or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ three o’clock (3:00) p.m. Eastern time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 3 contracts

Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 3 contracts

Samples: Credit Agreement (Healthcare Services Group Inc), Credit Agreement (Gp Strategies Corp), Credit Agreement (Healthcare Services Group Inc)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ The Swing Loan Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ the Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~the Swing Loan Lender.

Appears in 3 contracts

Samples: Credit Agreement (Ferroglobe PLC), Credit Agreement (Bob Evans Farms Inc), Credit Agreement (Arch Coal Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.11 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Eastern time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (Brady Corp), Credit Agreement (Brady Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Credit Agreement (Stoneridge Inc), Credit Agreement (Stoneridge Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment ~~minus~~ less its Ratable Share of ~~Letter~~ the Dollar Equivalent Amount of Letters of Credit ~~Obligations~~Outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit ~~Loan Requests~~Loans] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be ~~telephonic~~ telephonic, written, or ~~written notice by letter,~~ facsimile ~~or telex~~notice) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.6 [Borrowings to Repay Swing Loans] and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit ~~Loan Requests~~Loans] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00 p.m.~~ 2:00 p.m., Pittsburgh, Pennsylvania time on the next Business Day ~~next~~ after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (Papa Johns International Inc), Credit Agreement (Papa Johns International Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Revolving Credit Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.11 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ or Section 7.2 are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Revolving Credit Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make any Revolving Credit ~~Loans in excess~~ Loan if after giving effect thereto, the sum of the Dollar Equivalent amount of its Revolving Credit ~~Commitment minus its~~ Loans plus such Bank's Revolving Credit Ratable Share of ~~Letter~~ the Dollar Equivalent amount of Letters of Credit ~~Obligations~~Outstanding exceeds its Revolving Credit Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4.1 without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 7.2 are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the next Business Day ~~next~~ after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (Glatfelter P H Co), Credit Agreement (Glatfelter P H Co)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment ~~minus~~ less its Ratable Share of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be ~~telephonic~~ telephonic, written, or ~~written notice by letter,~~ facsimile ~~or telex~~notice) that such Revolving Credit Loans are to be made under this Section 2.6.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. on the next Business Day ~~next~~ after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (Erie Indemnity Co), Credit Agreement (Erie Indemnity Co)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of the sum of any Swing Loans outstanding and the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Loan Requests relating to Revolving Credit ~~Loan Requests~~Loans and Term Loans] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Loan Requests relating to Revolving Credit ~~Loan Requests~~Loans and Term Loans] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Credit Agreement (Federated Investors Inc /Pa/), Credit Agreement (Federated Investors Inc /Pa/)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, ~~facsimile~~ facsimile, e-mail, or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Finish Line Inc /In/), Credit Agreement (Finish Line Inc /In/)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, ~~and~~ and, unless the Borrower makes such repayment from sources other than a Revolving Credit Loan, each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus ~~its~~ such Lender’s Ratable Share of the amount of Letter of Credit ~~Obligations~~Outstandings. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.10 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] or Section 7.2 [Conditions to Each Additional Loan or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.6(a) [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.7(e) and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.6(a) [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Credit Agreement (Ipalco Enterprises, Inc.), Credit Agreement (Ipalco Enterprises, Inc.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender~~Bank’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.9 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. Pittsburgh time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (KI Holdings Inc.), Credit Agreement (Koppers Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Joinder and Assumption Agreement (Under Armour, Inc.), Credit Agreement (Under Armour, Inc.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment ~~minus~~ less its Ratable Share of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be ~~telephonic~~ telephonic, written, or ~~written notice by letter,~~ facsimile ~~or telex~~notice) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.7 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the next Business Day ~~next~~ after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (Allegheny Technologies Inc), Credit Agreement (Allegheny Technologies Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders ~~(which may be telephonic or written notice by letter, facsimile or telex)~~ that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.9 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] or Section 7 [Conditions of Lending and Issuance of Letters of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (Covance Inc), Credit Agreement (Covance Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Domestic Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Domestic Lender shall be obligated in any event to make Revolving Credit Loans in excess of its unused Revolving Credit Commitment ~~minus~~ after deducting therefrom its Ratable Share of Letter of Credit ~~Obligations~~Obligations and other Revolving Credit Loans then outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Domestic Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Domestic Lenders, and the Domestic Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 1:00 p.m. on the Business Day next after the date the Domestic Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Joinder and Assumption Agreement (Retail Ventures Inc), Credit Agreement (DSW Inc.)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or ~~written notice by letter~~written, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.7.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the next Business Day ~~next~~ after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Credit Agreement (MSA Safety Inc), Credit Agreement (MSA Safety Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations (to the extent applicable, calculated in Dollar Equivalents). Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or ~~telex~~e-mail) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Credit Agreement (Foster L B Co), Credit Agreement (Foster L B Co)

Borrowings to Repay Swing Loans. ~~PNC~~ (i) The Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of any or all of the outstanding Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing ~~Loans~~Loans with respect to which repayment is demanded, plus, if ~~PNC~~ the Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations and minus its Ratable Share of any Swing Loans not so being repaid. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.5(a) [Revolving Credit Loan Requests; Conversions and Renewals] without regard to any of the requirements of that provision. ~~PNC~~ The Swing Loan Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.6(e) and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.5(a) [Revolving Credit Loan Requests; Conversions and Renewals] or in Section 7.2 [Each Loan or Letter of Credit] are then satisfied) by the time ~~PNC~~ the Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~the Swing Loan Lender.

Appears in 2 contracts

Samples: Credit Agreement (Factset Research Systems Inc), Credit Agreement (Factset Research Systems Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender~~’s Ratable Share~~ 's Facility A Percentage of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its ~~Ratable Share~~ Facility A Percentage of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.6(a) [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.7(e) and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.6(a) [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Ipalco Enterprises, Inc.), Assignment and Assumption Agreement (Ipalco Enterprises, Inc.)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.6.4 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Lenders’ Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (Hallador Energy Co), Credit Agreement (Hallador Energy Co)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, ~~and~~ and, unless the Borrower makes such repayment from sources other than a Revolving Credit Loan, each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus ~~its~~ such Lender's Ratable Share of ~~Letter~~ the amount of the Letters of Credit ~~Obligations~~Outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.10 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] or Section 7.2 [Each Additional Loan or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.. 2.6.6

Appears in 2 contracts

Samples: Credit Agreement (Gentex Corp), Credit Agreement (Sun Hydraulics Corp)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make aggregate Revolving Credit Loans in excess of its Revolving Credit Commitment in effect at such time minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ The Swing Loan Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ the Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~the Swing Loan Lender.

Appears in 2 contracts

Samples: Credit Agreement (Johnson Outdoors Inc), Credit Agreement (Johnson Outdoors Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its ~~Revolving Credit~~ Commitment minus its Ratable Share of the Letter of Credit ~~Obligations~~Obligations and Swing Loans. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. The Administrative Agent on behalf of PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) no later than 11:00 a.m. on any Business Day that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.10 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.5 [Revolving Credit Loan Requests; Swing Loan Request] or Section 7.2 [Each Additional Loan or Letter of Credit] are then satisfied) by to the ~~time PNC so requests~~Administrative Agent on behalf of PNC, ~~which shall not be earlier~~ no later than 3:00 ~~p.m.~~ p.m., on the ~~Business Day next after the date the Lenders receive such notice from PNC~~Settlement Date.

Appears in 2 contracts

Samples: Credit Agreement (CONSOL Energy Inc), Credit Agreement (CONSOL Energy Inc)

Borrowings to Repay Swing Loans. PNC ~~may,~~ may at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing ~~Loans,~~ Loans plus, if PNC so requests, accrued interest thereon, ~~provided~~ PROVIDED that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment ~~minus~~ MINUS its Ratable Share of the Letter of Credit ~~Obligations~~Outstandings. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.6(a) without regard to any of the requirements of that provision. PNC shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 7.2 are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next ~~after~~ succeeding the date the ~~Lenders~~ Banks receive such notice from PNC.

Appears in 2 contracts

Samples: Shareholder Rights Agreement (Federated Investors Inc /Pa/), Credit Agreement (Federated Investors Inc /Pa/)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swing Loan Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Loan Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ The Swing Loan Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or ~~telex~~email) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ the Swing Loan Bank so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~the Swing Loan Bank. 2.6.6.

Appears in 1 contract

Samples: Credit Agreement (Big Lots Inc)

Borrowings to Repay Swing Loans. Any aggregate positive balance in the accounts related to the Money Management Arrangements shall, to the extent available at the end of a Business Day, be automatically applied to the repayment of the outstanding balance of the Swing Loans. In addition, PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.5(a) without regard to any of the requirements of that provision. PNC shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.7 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 7.2 are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 ~~p.m.~~ p.m., Cincinnati time, on the Business Day next ~~after~~ succeeding the date the ~~Lenders~~ Banks receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Zaring National Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [~~Revolving Credit~~ Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [~~Revolving Credit~~ Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Sun Hydraulics Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Lxxxxx's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations (to the extent applicable, calculated in Dollar Equivalents). Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (RPM International Inc/De/)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations and Swing Loans. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests; Swing Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (CALGON CARBON Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Calgon Carbon Corporation)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender~~Bank’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment ~~minus~~ less its Ratable Share of ~~Letter~~ the Dollar Equivalent Amount of Letters of Credit ~~Obligations~~Outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit ~~Loan Requests~~Loans] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be ~~telephonic~~ telephonic, written, or ~~written notice by letter,~~ facsimile ~~or telex~~notice) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.6 [Borrowings to Repay Swing Loans] and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit ~~Loan Requests~~Loans] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00 p.m.~~ 2:00 p.m., Pittsburgh, Pennsylvania time, on the next Business Day ~~next~~ after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (Papa Johns International Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, ; provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or ~~telex~~e-mail) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~the Swing Loan Lender.

Appears in 1 contract

Samples: Credit Agreement (Steel Partners Holdings L.P.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, and upon consultation with the Borrower, exercisable at any time for any reason whatsoever, demand ~~repayment of the Swing Loans, and~~ that each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans made in accordance with Section 2.5.2 [Making Swing Loans], plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Outstandings minus its Ratable Share of Swing Loans outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] or Section 6.2 [Each Additional Loan or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ three o’clock (3:00) p.m. Eastern time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus ~~its~~ such Bank's Ratable Share of ~~Letter~~ the amount of Letters of Credit ~~Obligations~~Outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.5 without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.10 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4 or Section 7.2 are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4.1 without regard to any of the requirements of that provision. PNC shall provide notice to the ~~Lenders~~ Banks and the Borrower (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.4.8 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 7.2 are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Roundys Inc)

Borrowings to Repay Swing Loans. ~~PNC~~ Citizens Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ Citizens Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Alternative Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.5(a) [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ Citizens Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.6(e) and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.5(a) [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ Citizens Bank so requests, which shall not be earlier than 3:00 p.m. New York City time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~Citizens Bank.

Appears in 1 contract

Samples: Credit Agreement (Superior Well Services, INC)

Borrowings to Repay Swing Loans. 2.6.5.1 PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of any or all of the outstanding Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing ~~Loans~~Loans with respect to which repayment is demanded, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations and minus its Ratable Share of any Swing Loans not so being repaid. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] or in Section 6.2 [Each Loan or Letter of Credit] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (EPAM Systems, Inc.)

Borrowings to Repay Swing Loans. (i) PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Neogenomics Inc)

Borrowings to Repay Swing Loans. (i) PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, ~~facsimile~~ facsimile, e-mail or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Stoneridge Inc)

Borrowings to Repay Swing Loans. ~~PNC~~ FNB may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ FNB so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ FNB shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ FNB so requests, which shall not be earlier than 3:00 p.m. Eastern time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~FNB.

Appears in 1 contract

Samples: Credit Agreement (DLH Holdings Corp.)

Borrowings to Repay Swing Loans. (i) PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such ~~Lender~~Xxxxxx’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, ~~facsimile~~ facsimile, e-mail or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Stoneridge Inc)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swing Loan Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Loan Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ The Swing Loan Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or ~~telex~~email) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the 219962390 conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ the Swing Loan Bank so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~the Swing Loan Bank.

Appears in 1 contract

Samples: Credit Agreement (Big Lots Inc)

Borrowings to Repay Swing Loans. ~~PNC~~ Each Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of ~~the~~ its Swing Loans, and each Lender shall make a Revolving Credit Loan in Dollars in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing ~~Loans~~Loans of such Swing Loan Lender, plus, if ~~PNC~~ such Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations (to the extent applicable, calculated using Dollar Equivalents). Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.3.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ Each Swing Loan Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.4.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.3.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ such Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~such Swing Loan Lender.

Appears in 1 contract

Samples: Credit Agreement (Invacare Corp)

Borrowings to Repay Swing Loans. PNC, shall request settlement with Lenders at least once every two weeks or on any date that PNC ~~may~~elects, ~~at its option~~by notifying Lenders of such requested settlement by facsimile, ~~exercisable at any~~ telephone or electronic transmission no later than 12:00 p.m., central time ~~for any reason whatsoever, demand repayment~~ on the date of ~~the Swing Loans,~~ such requested settlement and each Lender shall make a Revolving ~~Credit Loan~~ Advance in an amount equal to such Lender~~’s Ratable Share~~ 's Commitment Percentage of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving ~~Credit Loans~~ Advances in an amount in excess of its Commitment Percentage times the Maximum Revolving ~~Credit Commitment minus its Ratable Share of Letter of Credit Obligations~~Advance Amount. Revolving ~~Credit Loans~~ Advances made pursuant to the preceding sentence shall bear interest at the ~~Base~~ interest rate applicable to Revolving Advances consisting of Domestic Rate ~~Option~~ Loans and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.2(a) without regard to any of the requirements of that provision. PNC shall provide notice to ~~the~~ Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving ~~Credit Loans~~ Advances are to be made under this Section ~~2.6.5~~ 2.20(c)(iv) and of the apportionment among ~~the~~ Lenders, and ~~the~~ Lenders shall be unconditionally obligated to fund such Revolving ~~Credit Loans~~ Advances (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 8.2 are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. central time, on the Business Day next after the date ~~the~~ Lenders receive such notice from PNC. If any such amount is not transferred to PNC by any Lender on such settlement date, PNC shall be entitled to recover such amount on demand from such Lender together with interest thereon as specified in Section 2.23.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Johnson Outdoors Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus ~~its~~ such Bank's Ratable Share of ~~Letter~~ the amount of Letters of Credit ~~Obligations~~Outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4 without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.10 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4 or Section 7.2 are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or ~~written notice by letter~~written, facsimile or ~~telex~~other electronic communication) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.7.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the next Business Day ~~next~~ after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (MSA Safety Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment ~~minus~~ less its Ratable Share of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be ~~telephonic~~ telephonic, written, or ~~written notice by letter,~~ facsimile ~~or telex~~notice) that such Revolving Credit Loans are to be made under this Section 2.6.5 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the next Business Day ~~next~~ after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (Erie Indemnity Co)

Borrowings to Repay Swing Loans. PNC ~~may,~~ may at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing ~~Loans,~~ Loans plus, if PNC so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in -------- any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of the Letter of Credit ~~Obligations~~Outstandings. ----- Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.6(a) without regard to any of the requirements of that provision. PNC shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 7.2 are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next ~~after~~ succeeding the date the ~~Lenders~~ Banks receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Federated Investors Inc /Pa/)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or ~~written notice by letter~~written, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 [Borrowings to Repay Swing Loans] and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the next Business Day ~~next~~ after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Mine Safety Appliances Co)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to (or otherwise acquire a participation interest in the Swing Loans in an amount equal to) such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon~~, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations~~. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4.1 without regard to any of the requirements of that provision, including whether a Potential Default or Event of Default exists (including under Section 8.1.6). PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4.1 are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (M & F Worldwide Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of the sum of any Swing Loans outstanding and the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [~~Revolving Credit~~ Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [~~Revolving Credit~~ Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Federated Investors Inc /Pa/)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, and upon consultation with the Borrower, exercisable at any time for any reason whatsoever, demand ~~repayment of the Swing Loans, and~~ that each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans made in accordance with Section 2.5.2 [Making Swing Loans], plus, if PNC Bank so requests, accrued interest thereon, ~~provided~~ PROVIDED that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] or Section 6.2 [Each Additional Loan or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ three o'clock (3:00) p.m. Eastern time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

Borrowings to Repay Swing Loans. ~~PNC may,~~ The Swing Lenders may at ~~its~~ their option, exercisable at any ~~time for any reason whatsoever~~time, demand repayment of the Swing ~~Loans,~~ Loans and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Lenders so ~~requests~~request, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Commitment. In the event any Swing Loans shall be repaid with Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations.~~ Loans, such Revolving Credit Loans ~~made pursuant to the preceding sentence~~ shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.05(a) without regard to any of the requirements of that provision. ~~PNC~~ The Administrative Agent shall provide notice to the Lenders (which may be a telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.07 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 6.02 are then satisfied) by the time ~~PNC~~ the Administrative Agent so requests, which shall not be earlier than ~~3:00 p.m.~~ 12:00 noon Eastern time on the Business Day next ~~after~~ succeeding the date the ~~Lenders receive~~ Administrative Agent gives the demand notice to the Lenders. If for any reason a Lender is prohibited from funding its Ratable Share of Revolving Credit Loans to repay the principal amount of the Swing Loans outstanding, such ~~notice from PNC~~Lender shall purchase a participation in the Swing Loans equal to its Ratable Share of the principal amount of Swing Loans outstanding.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Borders Group Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of outstanding Swing Loans and Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Spartech Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Xxxxxx's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations (to the extent applicable, calculated in Dollar Equivalents). Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or ~~telex~~e-mail) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [~~Revolving Credit~~ Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Foster L B Co)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender~~Bank’s Revolving Credit Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.11.1 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ or Section 7.2 are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make aggregate Revolving Credit Loans in excess of its Revolving Credit Commitment in effect at such time minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ The Swing Loan Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ the Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~the Swing Loan Lender.

Appears in 1 contract

Samples: Credit Agreement (Johnson Outdoors Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its ~~Revolving Credit~~ Commitment minus its Ratable Share of the Letter of Credit ~~Obligations~~Obligations and Swing Loans. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. The Administrative Agent on behalf of PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) no later than 11:00 a.m. on any Business Day that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.11 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.5 or Section 7.2 are then satisfied) by to the ~~time PNC so requests~~Administrative Agent on behalf of PNC, ~~which shall not be earlier~~ no later than 3:00 p.m. on the ~~Business Day next after the date the Lenders receive such notice from PNC~~Settlement Date.

Appears in 1 contract

Samples: Joinder and Assumption Agreement (CONSOL Energy Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Koppers Holdings Inc.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, and upon consultation with the Borrower, exercisable at any time for any reason whatsoever, demand ~~repayment of the Swing Loans, and~~ that each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans made in accordance with Section 2.5.2 [Making Swing Loans], plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of ~~Letter~~ Letters of Credit ~~Obligations~~Outstanding minus its Ratable Share of Swing Loans outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.8 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] or Section 6.2 [Each Additional Loan or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than ~~3:00~~ three o'clock (3:00) p.m. Eastern time on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, ~~demand repayment of the~~ request that Swing Loans be refunded as Revolving Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option unless and until converted to a LIBOR Rate Option in accordance with this Agreement and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Nacco Industries Inc)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment ~~among~~ amount the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.4.1 are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 ~~p.m.~~ p.m., on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (Breeze-Eastern Corp)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Lenders’ Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC.~~PNC Bank. Table of Contents

Appears in 1 contract

Samples: Credit Agreement (Hallador Energy Co)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender~~Bank’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.10 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (Westmoreland Coal Co)

Borrowings to Repay Swing Loans. ~~PNC~~ ABN AMRO may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each ~~Lender~~ Bank shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Bank's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ ABN AMRO so requests, accrued interest thereon, provided that no ~~Lender~~ Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment ~~minus its Ratable Share~~ and provided further that the Borrower shall repay, and ABN AMRO shall demand that Swing Loans be repaid, within fourteen (14) days after the making of ~~Letter of Credit Obligations~~each Swing Loan (and not after the Expiration Date). Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. ~~PNC~~ ABN AMRO shall provide notice to the ~~Lenders~~ Banks (which may be telephonic or written notice by ~~letter, facsimile~~ letter or ~~telex~~facsimile) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.9 and of the apportionment among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time ~~PNC~~ ABN AMRO so requests, which shall not be earlier than ~~3:00~~ 2:00 p.m. New York time on the next Business Day ~~next~~ after the date the ~~Lenders~~ Banks receive such notice from ~~PNC~~ABN AMRO.

Appears in 1 contract

Samples: Credit Agreement (Viasys Healthcare Inc)

Borrowings to Repay Swing Loans. ~~PNC~~ Swing Loan Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Revolving Credit Lender shall make a Revolving Credit Loan in an amount equal to such Revolving Credit Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ Swing Loan Bank so requests, accrued interest thereon; upon any such demand being made, ~~provided that no Lender~~ Borrower shall be ~~obligated in any event~~ deemed to ~~make~~ have requested that such Swing Loans be converted to Revolving Credit ~~Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations~~Loans. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.05(a), Article VI, and otherwise without regard to any of the requirements of ~~that provision~~those provisions. ~~PNC~~ Swing Loan Bank shall provide notice to Agent who shall provide such notice to the Revolving Credit Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.09 and of the apportionment among the Revolving Credit Lenders, and the Revolving Credit Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.05(a), Article VI, or otherwise are then satisfied) by the time ~~PNC~~ Swing Loan Bank so requests, which shall not be earlier than ~~3:00 p.m.~~ 10:00 a.m. on the Business Day next after the date the Revolving Credit Lenders receive such notice from ~~PNC~~Swing Loan Bank.

Appears in 1 contract

Samples: Credit Agreement (Tween Brands, Inc.)

Borrowings to Repay Swing Loans. ~~PNC~~ Swing Loan Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ Swing Loan Bank so requests, accrued interest thereon; upon any such demand being made, ~~provided that no Lender~~ Borrower shall be ~~obligated in any event~~ deemed to ~~make~~ have requested that such Swing Loans be converted to Revolving Credit ~~Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations~~Loans. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.05(a), Article VI, and otherwise without regard to any of the requirements of ~~that provision~~those provisions. ~~PNC~~ Swing Loan Bank shall provide notice to Agent who shall provide such notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.09 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.05(a), Article VI, or otherwise are then satisfied) by the time ~~PNC~~ Swing Loan Bank so requests, which shall not be earlier than ~~3:00 p.m.~~ 10:00 a.m., Cleveland time, on the Business Day next after the date the Lenders receive such notice from ~~PNC~~Swing Loan Bank.

Appears in 1 contract

Samples: Credit Agreement (Too Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated -------- in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.9 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Ii-Vi Inc)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.05(a) [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.06(e) and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.05(a) [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Meridian Bioscience Inc)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ The Swing Loan Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ the Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~the Swing Loan Lender.

Appears in 1 contract

Samples: Refinancing Credit Agreement (Westinghouse Air Brake Technologies Corp)

Borrowings to Repay Swing Loans. ~~PNC~~ The Swingline Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swingline Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall initially bear interest at the Base Rate Option and shall be deemed to have been properly requested by the Swingline Lender in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ The Swingline Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ the Swingline Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Cloud Peak Energy Inc.)

Borrowings to Repay Swing Loans. (i) PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.5.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be ~~earlier~~ later than 3:00 p.m. on the Business Day ~~next~~ after the date the Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Credit Agreement (Crocs, Inc.)

Borrowings to Repay Swing Loans. ~~PNC~~ Each Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of ~~the~~ its Swing Loans, and each Lender shall make a Revolving Credit Loan in Dollars in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing ~~Loans~~Loans of such Swing Loan Lender, plus, if ~~PNC~~ such Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit ~~Obligations~~Obligations (to the extent applicable, calculated using Dollar Equivalents). Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.3.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. ~~PNC~~ Each Swing Loan Lender shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.4.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.3.1 [Revolving Credit Loan Requests] are then satisfied) by the time ~~PNC~~ such Swing Loan Lender so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~such Swing Loan Lender.

Appears in 1 contract

Samples: Credit Agreement (Invacare Corp)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, -------------------------------- exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make ~~a Revolving Credit Loan in~~ available to the Agent, on behalf of PNC Bank, an amount equal to such Lender’s 's Revolving Credit Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any -------- event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.05 without regard to any of the requirements of that provision. PNC Bank shall provide notice to all of the Lenders (which may be telephonic or written notice by letter, facsimile or telex) ~~that~~ of the amount of such Lender's Revolving Credit ~~Loans are~~ Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus accrued interest thereon, to be made available to the Agent on behalf of PNC Bank under this Section ~~2.6.5 and~~ 2.22. The Agent shall promptly provide to each Bank notice of the apportionment thereof among the ~~Lenders~~Banks, and the ~~Lenders~~ Banks shall be unconditionally obligated to fund such ~~Revolving Credit Loans~~ amount (whether or not the conditions specified in Section ~~2.5.1 [Revolving Credit Loan Requests]~~ 2.05 are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 ~~p.m.~~ p.m., Pittsburgh time, on the Business Day next after the date the ~~Lenders~~ Banks receive such notice of apportionment from ~~PNC~~the Agent.

Appears in 1 contract

Samples: Credit Agreement (Igate Capital Corp)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, ~~and~~ and, unless the Borrower makes such repayment from sources other than a Revolving Credit Loan, each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus ~~its~~ such Lender's Ratable Share of the amount of the Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section ~~2.6.5~~ 2.10 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section ~~2.5.1~~ 2.4 [Revolving Credit Loan Requests] or Section 7.2 [Each Additional Loan or Letter of Credit] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Lenders receive such notice from ~~PNC.~~PNC Bank. PRN1 883012 40

Appears in 1 contract

Samples: Credit Agreement (New Jersey Resources Corp)

Borrowings to Repay Swing Loans. PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Domestic Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s 's Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Domestic Lender shall be obligated in any event to make Revolving Credit Loans in excess of its unused Revolving Credit Commitment ~~minus~~ after deducting therefrom its Ratable Share of Letter of Credit ~~Obligations~~Obligations and other Revolving Credit Loans then outstanding. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Domestic Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Domestic Lenders, and the Domestic Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than ~~3:00~~ 1:00 p.m. on the Business Day next after the date the Domestic Lenders receive such notice from PNC.

Appears in 1 contract

Samples: Joinder and Assumption Agreement (DSW Inc.)

Borrowings to Repay Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such ~~Lender’s~~ Lenders’ Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit ~~Commitment minus its Ratable Share of Letter of Credit Obligations~~Commitment. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from ~~PNC~~PNC Bank.

Appears in 1 contract

Samples: Credit Agreement (O'Gara Group, Inc.)

Borrowings to Repay Swing Loans. ~~PNC~~ (a) The Swing Loan Lender may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if ~~PNC~~ the Swing Loan Lender so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ without regard to any of the requirements of that provision. ~~PNC~~ HSBC shall provide notice to the Lenders ~~(which may be telephonic or written notice by letter, facsimile or telex)~~ that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 ~~[Revolving Credit Loan Requests]~~ are then satisfied) by the time ~~PNC~~ the Swing Loan Lender so requests, which shall not be earlier than ~~3:00 p.m.~~ 10:00 a.m. on the next Business Day ~~next~~ after the date the Lenders receive such notice from ~~PNC~~the Swing Loan Lender.

Appears in 1 contract

Samples: Credit Agreement (3d Systems Corp)

Common use of Borrowings to Repay Swing Loans Clause in Contracts