Common use of Conditions for Swing Line Loans Clause in Contracts

Conditions for Swing Line Loans. So long as no Event of Default or Default shall have occurred and be continuing, during the Swing Line Commitment Period, the Borrowers may borrow, repay and reborrow under the Swing Line Credit Facility on any Business Day, subject to the terms, conditions and other provisions of this Agreement. The making of Swing Line Loans will be conditioned upon receipt by PNC from the Borrowers of a Request for Swing Line Loan by 12:00 noon Louisville, Kentucky, time on the Business Day of the requested Swing Line Loan. Notwithstanding the foregoing, PNC may, in its sole discretion, accept an oral or written request made on behalf of the Borrowers by an Authorized Officer by telephone, telex, facsimile or some other form of written electronic communication, - 40 - 41 in which case PNC shall be entitled to rely on any such oral or written request received by PNC in good faith from anyone reasonably believed by PNC to be an Authorized Officer. The Borrowers shall promptly confirm any such communication by delivery of a Request for Swing Line Loan upon request of PNC. Disbursements of, and payments of principal with respect to Swing Line Loans may be evidenced by notations of PNC or its electronic data processing equipment. The aggregate amount of all disbursements of Swing Line Loans made and shown on PNC's electronic data processing equipment, over all of the payments of principal made by the Borrowers and recorded on PNC's electronic data processing equipment shall be prima facie evidence of the outstanding principal balance due under the Swing Line Note.

Appears in 1 contract

Samples: Loan Agreement (Res Care Inc /Ky/)

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Conditions for Swing Line Loans. So long as no Event of Default or ------------------------------- Default shall have occurred and be continuing, during the Swing Line Commitment Period, the Borrowers Borrower may borrow, repay and reborrow under the Swing Line Credit Facility Subfacility on any Business Day, subject to the terms, conditions and other provisions of this Agreement. The making of Swing Line Loans will be conditioned upon receipt by PNC the Agent Bank from the Borrowers Borrower, of a Request for Swing Line Loan by 12:00 noon Louisville, Kentucky, time on the Business Day of the requested Swing Line Loan. Notwithstanding the foregoing, PNC the Agent Bank may, in its sole discretion, accept an oral or written request made on behalf of the Borrowers Borrower by an Authorized Officer by telephone, telex, facsimile or some other form of written electronic communication, - 40 - 41 in which case PNC the Agent Bank shall be entitled to rely on any such oral or written request received by PNC the Agent Bank in good faith from anyone reasonably believed by PNC the Agent Bank to be an Authorized Officer. The Borrowers Borrower shall promptly confirm any such communication by delivery of a Request for Swing Line Loan upon request of PNCthe Agent Bank. Disbursements of, and payments of principal principal, with respect to Swing Line Loans may be evidenced by notations of PNC or the Agent Bank in its electronic data processing equipment. The aggregate amount of all disbursements of Swing Line Loans made and shown on PNCthe Agent Bank's electronic data processing equipment, over all of the payments of principal made by the Borrowers Borrower and recorded on PNCthe Agent Bank's electronic data processing equipment shall be prima facie evidence ----- ----- of the outstanding principal balance due under the Swing Line NoteCredit Subfacility.

Appears in 1 contract

Samples: Loan Agreement (Sypris Solutions Inc)

Conditions for Swing Line Loans. So long as no Event of Default or Default shall have occurred and be continuing, during the Swing Line Commitment Period, the Borrowers Borrower may borrow, repay and reborrow under the Swing Line Credit Facility Subfacility on any Business Day, subject to the terms, conditions and other provisions of this Loan Agreement. The making of Swing Line Loans will be conditioned upon receipt by PNC the Agent Bank from the Borrowers Borrower, of a Request for Swing Line Loan by 12:00 noon Louisville, Kentucky, time on the Business Day of the requested Swing Line Loan. Notwithstanding the foregoing, PNC the Agent Bank may, in its sole discretion, accept an oral or a written request made on behalf of the Borrowers Borrower by an Authorized Officer by telephone, telex, facsimile or some other form of written electronic communication, - 40 - 41 in which case PNC the Agent Bank shall be entitled to rely on any such oral or written request received by PNC the Agent Bank in good faith from anyone reasonably believed by PNC the Agent Bank to be an Authorized Officer. The Borrowers Borrower shall promptly confirm any such communication by delivery of a Request for Swing Line Loan upon request of PNCthe Agent Bank. Disbursements of, and payments of principal principal, with respect to Swing Line Loans may be evidenced by notations of PNC or the Agent Bank in its electronic data processing equipment. The aggregate amount of all disbursements of Swing Line Loans made and shown on PNCthe Agent Bank's electronic data processing equipment, over all of the payments of principal made by the Borrowers Borrower and recorded on PNCthe Agent Bank's electronic data processing equipment shall be prima facie evidence of the outstanding principal balance due under the Swing Line NoteCredit Subfacility.

Appears in 1 contract

Samples: Loan Agreement (Sypris Solutions Inc)

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Conditions for Swing Line Loans. So long as no Event of Default or Default shall have occurred and be continuing, during the Swing Line Commitment Period, the Borrowers may borrow, repay and reborrow under the Swing Line Credit Facility on any Business Day, subject to the terms, conditions and other provisions of this Agreement. The making of Swing Line Loans will be conditioned upon receipt by PNC from the Borrowers of a Request for Swing Line Loan by 12:00 noon Louisville, Kentucky, time on the Business Day of the requested Swing Line Loan. Notwithstanding the foregoing, PNC may, in its sole discretion, accept an oral or written request made on behalf of the Borrowers by an Authorized Officer by telephone, telex, facsimile or some other form of written electronic communication, - 40 - 41 in which case PNC shall be entitled to rely on any such oral or written request received by PNC in good faith from anyone reasonably believed by PNC to be an Authorized Officer. The Borrowers shall promptly confirm any such communication by delivery of a Request for Swing Line Loan upon request of PNC. Disbursements of, and payments of principal with respect to Swing Line Loans may be evidenced by notations of PNC or its electronic data processing equipment. The aggregate amount of all disbursements of Swing Line Loans made and shown on PNC's electronic data processing equipment, over all of the payments of principal made by the Borrowers and recorded on PNC's electronic data processing equipment shall be prima facie PRIMA FACIE evidence of the outstanding principal balance due under the Swing Line Note.

Appears in 1 contract

Samples: Stock Pledge Agreement (Res Care Inc /Ky/)

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