Common use of Conversion of Swing Loans to Revolving Credit Loans Clause in Contracts

Conversion of Swing Loans to Revolving Credit Loans. The Swing Lender may, on behalf of the Borrower (which hereby irrevocably directs the Swing Lender to act on its behalf), on notice given by the Swing Lender no later than 12:00 noon (New York City time), on the Business Day on or immediately following the funding of any Swing Loan, request each Lender to make, and each Lender (including the Swing Lender) hereby agrees to make, an Alternate Base Rate Loan, in an amount (with respect to each Lender, its “Swing Loan Refund Amount”) equal to such Lender’s Commitment Percentage of the aggregate principal amount of the Swing Loans (the “Refunded Swing Loans”) outstanding on the date of such notice, to repay the Swing Lender. Unless any of the events described in §§12.1(g) or (h) with respect to the Borrower shall have occurred and be continuing or Revolving Credit Loans cannot otherwise be made on such date (in which case the terms of §2.1(b)(iii) shall govern), each Lender shall make such Alternate Base Rate Loan available to the Administrative Agent at its address specified in or pursuant to §19(b) in immediately available funds, not later than 1:00 P.M. (New York City time), on the Business Day immediately following the date of such notice. The Swing Lender shall be deemed to have made such Alternate Base Rate Loan in an amount equal to (x) the amount of such Swing Loan less (y) the aggregate amount of the Swing Loan Refund Amount of all other Lenders. The Administrative Agent shall pay the proceeds of such Alternate Base Rate Loans to the Swing Lender, which shall immediately apply such proceeds to repay Refunded Swing Loans. Effective on the day such Alternate Base Rate Loans are made, the portion of the Swing Loans so paid (or deemed paid in the case of the Swing Lender) shall no longer be outstanding as Swing Loans, shall no longer be due as Swing Loans under the Note held by the Swing Lender, and shall be due as Alternate Base Rate Loans under the respective Notes issued to the Lenders (including the Swing Lender) in accordance with each Lender’s Swing Loan Refund Amount. The Borrower authorizes the Swing Lender to charge the Borrower’s accounts with the Administrative Agent (up to the amount available in each such account) in order to immediately pay the amount of such Refunded Swing Loans to the extent amounts received from the Lenders are not sufficient to repay in full such Refunded Swing Loans.

Conversion of Swing Loans to Revolving Credit Loans. The Swing Lender mayLoan Bank may at any time in its discretion, after a particular Swing Loan has been outstanding for more than five Business Days (a "Stale Swing Loan"), on behalf of the Borrower (which hereby irrevocably directs the Swing Lender Loan Bank to act on its behalfbehalf with respect to giving such notice), on notice given by the Swing Lender Loan Bank no later than 12:00 noon (New York City time), 11:00 A.M. on the Business Day on or immediately following proposed date of funding for the funding of any Swing LoanRevolving Credit Loans referred to below, request each Lender Bank to make, and each Lender (including the Swing Lender) Bank hereby agrees to make, an Alternate Base Rate a Revolving Credit Loan, in an amount (such amount with respect to each LenderBank, its “"Swing Loan Refund Amount”") equal to such Lender’s Commitment Percentage Bank's Pro Rata Share of the aggregate principal Commitment multiplied by the amount of the such Stale Swing Loans Loan (the “"Refunded Swing Loans”Loan") outstanding on the date of such noticenotice and with respect to which such notice relates, to repay the Swing LenderLoan Bank. Unless any of the events described in §§12.1(gSection 6.01 (b) or 6.01 (hc) with respect to the Borrower shall have occurred and be continuing or the Revolving Credit Loans cannot otherwise be made on such date Commitments shall have terminated (in any of which case cases the terms procedures of §2.1(b)(iiiSection 2.01 (b) (iii) shall governapply), each Lender Bank shall make the proceeds of such Alternate Base Rate Revolving Credit Loan available to the Administrative Agent at its address specified in or pursuant to §19(b) in immediately available funds, not later than 1:00 P.M. accordance with Section 2.01 (New York City timea), on the Business Day immediately following the date of . Each such noticeRevolving Credit Loan shall initially be made as a Reference Rate Loan. The Swing Lender shall be deemed to have made such Alternate Base Rate Loan in an amount equal to (x) the amount of such Swing Loan less (y) the aggregate amount of the Swing Loan Refund Amount of all other Lenders. The Administrative Agent shall pay the proceeds of such Alternate Base Rate Revolving Credit Loans to the Swing LenderLoan Bank, which shall immediately apply such proceeds to repay the Refunded Swing LoansLoan. Effective on the day such Alternate Base Rate Revolving Credit Loans are made, the portion of the Refunded Swing Loans Loan so paid (or deemed paid in the case of the Swing Lender) shall no longer be outstanding as a Swing LoansLoan, shall no longer be due as a Swing Loans Loan under the Swing Loan Note held by the Swing Lender, and shall be due as Alternate Base Rate Revolving Credit Loans under the respective Revolving Credit Notes issued to the Lenders Banks (including the Swing LenderLoan Bank) in accordance with each Lender’s Swing Loan Refund Amount. The Borrower authorizes the Swing Lender to charge the Borrower’s accounts with the Administrative Agent (up to the amount available in each such account) in order to immediately pay the amount of such Refunded Swing Loans to the extent amounts received from the Lenders are not sufficient to repay in full such Refunded Swing Loanstheir respective Pro Rata Shares.

Conversion of Swing Loans to Revolving Credit Loans. The Swing Lender may, on behalf of the Borrower (which hereby irrevocably directs the Swing Lender to act on its behalf), on notice given by the Swing Lender no later than 12:00 noon (New York City time), on the Business Day on or immediately following the funding of any Swing Loan, request each Lender to make, and each Lender (including the Swing Lender) hereby agrees to make, an Alternate Base Rate Loan, in an amount (with respect to each Lender, its “Swing Loan Refund Amount”"SWING LOAN REFUND AMOUNT") equal to such Lender’s 's Commitment Percentage of the aggregate principal amount of the Swing Loans (the “Refunded Swing Loans”"REFUNDED SWING LOANS") outstanding on the date of such notice, to repay the Swing Lender. Unless any of the events described in §§Sections 12.1(g) or (h) with respect to the Borrower shall have occurred and be continuing or Revolving Credit Loans cannot otherwise be made on such date (in which case the terms of §Section 2.1(b)(iii) shall govern), each Lender shall make such Alternate Base Rate Loan available to the Administrative Agent at its address specified in or pursuant to §Section 19(b) in immediately available funds, not later than 1:00 P.M. (New York City time), on the Business Day immediately following the date of such notice. The Swing Lender shall be deemed to have made such Alternate Base Rate Loan in an amount equal to (x) the amount of such Swing Loan less (y) the aggregate amount of the Swing Loan Refund Amount of all other Lenders. The Administrative Agent shall pay the proceeds of such Alternate Base Rate Loans to the Swing Lender, which shall immediately apply such proceeds to repay Refunded Swing Loans. Effective on the day such Alternate Base Rate Loans are made, the portion of the Swing Loans so paid (or deemed paid in the case of the Swing Lender) shall no longer be outstanding as Swing Loans, shall no longer be due as Swing Loans under the Note held by the Swing Lender, and shall be due as Alternate Base Rate Loans under the respective Notes issued to the Lenders (including the Swing Lender) in accordance with each Lender’s 's Swing Loan Refund Amount. The Borrower authorizes the Swing Lender to charge the Borrower’s 's accounts with the Administrative Agent (up to the amount available in each such account) in order to immediately pay the amount of such Refunded Swing Loans to the extent amounts received from the Lenders are not sufficient to repay in full such Refunded Swing Loans.

Conversion of Swing Loans to Revolving Credit Loans. The Swing Lender mayLoan Bank may at any time in its discretion, after a particular Swing Loan has been outstanding for more than five Business Days (a "Stale Swing Loan"), on behalf of the Borrower (which hereby irrevocably directs the Swing Lender Loan Bank to act on its behalfbehalf with respect to giving such notice), on notice given by the Swing Lender Loan Bank no later than 12:00 noon (New York City time), 11:00 A.M. on the Business Day on or immediately following proposed date of funding for the funding of any Swing LoanRevolving Credit Loans referred to below, request each Lender Bank to make, and each Lender (including the Swing Lender) Bank hereby agrees to make, an Alternate Base Rate a Revolving Credit Loan, in an amount (such amount with respect to each LenderBank, its “"Swing Loan Refund Amount”") equal to such Lender’s Commitment Percentage Bank's Pro Rata Share of the aggregate principal Commitment totaling the amount of the such Stale Swing Loans Loan (the “"Refunded Swing Loans”Loan") outstanding on the date of such noticenotice and with respect to which such notice relates, to repay the Swing LenderLoan Bank. Unless any of the events described in §§12.1(gSections 6.01(B) or (hC) with respect to the Borrower shall have occurred and be continuing or Revolving Credit Loans cannot otherwise be made on such date the 364--Day Commitments and 4--Year Commitments shall have terminated (in any of which case cases the terms procedures of §2.1(b)(iiiSection 2.01(C)(c) shall governapply), each Lender Bank shall make the proceeds of such Alternate Base Rate Revolving Credit Loan available to the Administrative Agent at its address specified in or pursuant to §19(b) in immediately available funds, not later than 1:00 P.M. (New York City timeaccordance with Section 2.01(B), on the Business Day immediately following the date of . Each such noticeRevolving Credit Loan shall initially be made as a Reference Rate Loan. The Swing Lender shall be deemed to have made such Alternate Base Rate Loan in an amount equal to (x) the amount of such Swing Loan less (y) the aggregate amount of the Swing Loan Refund Amount of all other Lenders. The Administrative Agent shall pay the proceeds of such Alternate Base Rate Revolving Credit Loans to the Swing LenderLoan Bank, which shall immediately apply such proceeds to repay the Refunded Swing LoansLoan. Effective on the day such Alternate Base Rate Revolving Credit Loans are made, the portion of the Refunded Swing Loans Loan so paid (or deemed paid in the case of the Swing Lender) shall no longer be outstanding as a Swing LoansLoan, shall no longer be due as a Swing Loans Loan under the Swing Loan Note held by the Swing Lender, and shall be due as Alternate Base Rate Revolving Credit Loans under the respective Revolving Credit Notes issued to the Lenders Banks (including the Swing LenderLoan Bank) in accordance with each Lender’s Swing Loan Refund Amount. The Borrower authorizes the Swing Lender to charge the Borrower’s accounts with the Administrative Agent (up to the amount available in each such account) in order to immediately pay the amount of such Refunded Swing Loans to the extent amounts received from the Lenders are not sufficient to repay in full such Refunded Swing Loanstheir respective Pro Rata Shares.