Common use of Borrowings to Repay Swing Loans Clause in Contracts

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 Bank shall make a Revolving Credit Loan in an amount equal to such 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 Bank shall be obligated in any event to make Loans in excess of its Revolving Credit Commitment and that the Facility Usage shall not exceed the 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 2.4.1 without regard to any of the requirements of that provision. PNC Bank shall provide notice to the 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 2.9 and of the apportionment among the Banks, and the Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.4.1 are then satisfied and whether or not an Event of Default or Potential Default (including any Event of Default specified in Section 8.1.13 or 8.1.14) exists at the time PNC Bank so requests) not later than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Banks receive such notice from PNC Bank.

Borrowings to Repay Swing Loans. PNC Bank may, may at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Bank shall make a Revolving Credit Loan in an amount equal sufficient to such Bank's result in each Bank having its Ratable Share of the aggregate principal amount all outstanding Revolving Credit Loans after repayment of the outstanding Swing Loans, plus, if PNC Bank so requests, accrued interest thereonLoans under this Section D, provided that no Bank shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment and that the Facility Usage shall not exceed the Revolving Credit Commitment. Revolving Credit Loans made pursuant to the preceding sentence under this Section shall bear interest at the Base Rate Option or Federal Funds Rate Option as applicable to the Swing Loan being repaid and shall be deemed to have been properly requested in accordance with Section 2.4.1 2.4(c) without regard to any of the requirements of that provision. PNC Bank shall provide notice to the 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 2.9 D and of the apportionment among the Banks, and the Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.4.1 7.2 are then satisfied satisfied) by 3:00 p.m. Pittsburgh time on the Business Day on which the Banks receive PNC's notice provided that PNC has delivered such notice by 12:00 noon on such Business Day, and whether or not an Event of Default or Potential Default (including any Event of Default specified in Section 8.1.13 or 8.1.14) exists at the time if PNC Bank so requests) not later than delivers such notice after 12:00 noon on such Business Day, then by 3:00 p.m. Pittsburgh time on the Business Day next after succeeding the date on which the Banks receive such notice from PNC BankPNC."

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 Bank shall make a Revolving Credit Loan in an amount equal to such 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 Bank shall be obligated in -------- any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment and that the Revolving Facility Usage shall not exceed the Revolving Credit Commitment. 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 2.4.1 without regard to any of the requirements of that provision. PNC Bank shall provide notice to the 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 2.9 and of the apportionment among the Banks, and the Banks shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.4.1 Error! Reference source not found. are then satisfied and whether or not an Event of Default or Potential Default (including any Event of Default specified in Section 8.1.13 9.1.13 or 8.1.149.1.14) exists at the time PNC Bank so requests) not later than 3:00 p.m. Pittsburgh time on the Business Day next after the date the Banks receive such notice from PNC Bank.

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 Bank Lender shall make a Revolving Credit Loan in an amount equal to such Bank's Lender’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 Bank Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment and that the Revolving Facility Usage shall not exceed the 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 2.4.1 without regard to any of the requirements of that provision. PNC Bank shall provide notice to the Banks 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 2.9 2.8 and of the apportionment among the BanksLenders, and the Banks Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.4.1 are then satisfied and whether or not an Event of Default or Potential Default (including any Event of Default specified in Section 8.1.13 9.1.15 or 8.1.149.1.16) exists at the time PNC Bank so requests) not later than 3:00 p.m. Pittsburgh time on the next Business Day next after the date the Banks Lenders receive such notice from PNC Bank.