Common use of Limitations on Swingline Advances Clause in Contracts

Limitations on Swingline Advances. CPC shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. In any event, no Swingline Advance will be made on or after the Termination Date, and no Swingline Advance will be made which would result in the Swingline Loan exceeding the Maximum Swingline Amount. CPC may, however, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC will not, without the prior consent (which may be written or oral) of each Lender, knowingly make any Swingline Advance which would cause the aggregate amount of the Aggregate Revolving Loan to exceed the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline Advance. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (a) Twenty-Five Million Dollars ($25,000,000) less the outstanding principal amount of any Swingline Loans and (b) the amount by which the Revolving Loan Maximum Available Amount as of such date exceeds the Aggregate Revolving Loans.

Appears in 3 contracts

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

AutoNDA by SimpleDocs

Limitations on Swingline Advances. CPC Administrative Agent shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. At anytime Administrative Agent may choose to suspend Swingline Advances and treat all subsequent requests for an Advance as Revolving Loan Advances. In any event, no Swingline Advance will be made on or after the Termination Revolving Loan Maturity Date, and no Swingline Advance will be made which would result in the Swingline Loan exceeding the Maximum Swingline Amount. CPC No Swingline Advance will be made which would result in the Swingline Loan plus the Lender acting as Administrative Agent's Revolving Loans and such Lender's pro-rata share of the Letter of Credit Exposure to exceed such Lender's Revolving Loan Commitment. Administrative Agent may, however, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC will not, without the prior consent (which may be written or oral) of each Lender, knowingly make any Swingline Advance which would cause the aggregate amount of the Aggregate Revolving Loan to exceed the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline Advance. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (i) $5,000,000 or (ii) an amount equal to (a) Twenty-Five Million Dollars ($25,000,000) less the outstanding principal amount of any Swingline Loans and Aggregate Revolving Loan Commitment, minus (b) the amount by which sum of (i) the Revolving Loan Maximum Available Amount as Letter of such date exceeds Credit Exposure and (ii) the Aggregate Revolving LoansLoan immediately prior to the making of such Swingline Advance.

Appears in 3 contracts

Samples: Loan Agreement (Angelica Corp /New/), Loan Agreement (Angelica Corp /New/), Loan Agreement (Layne Christensen Co)

Limitations on Swingline Advances. CPC Administrative Agent shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. In any event, no Swingline Advance will be made on or after the Termination Datedate the Aggregate Revolving Loan Facility is terminated, and no Swingline Advance will be made which would result in either: (i) the Swingline Loan exceeding the Maximum Swingline Amount; or (ii) the Lenders' Exposure exceeding the Total Aggregate Facility Limit. CPC Administrative Agent may, however, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC Administrative Agent, will not, without the prior consent of each Lender (which may be written or oral) of each Lender, knowingly make any Swingline Advance which would cause either (i) the aggregate amount of the Aggregate Revolving Loan to exceed the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline AdvanceAdvance or (ii) the Lenders' Exposure to exceed the Total Aggregate Facility Limit. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (ai) Twenty-Five Million Dollars $25,000,000 or ($25,000,000ii) less an amount equal to the outstanding principal amount of any Swingline Loans and (b) the amount by which the Revolving Loan Maximum Available Amount as of such date exceeds minus the Aggregate Revolving LoansLoan immediately prior to the making of such Swingline Advance; provided, however, at no time shall any Advance be deemed to be a Swingline Advance, and such Advance shall be deemed to be a Revolving Advance, if the sum of the Swingline Loan and the amount of the Revolving Loans made by the Lender which is Administrative Agent exceeds such Lender's Revolving Loan Facility as set forth on Exhibit 0. The Swingline Facility is not a commitment to lend or advance funds but is a discretionary facility.

Appears in 1 contract

Samples: Credit Facilities Agreement (Gtsi Corp)

Limitations on Swingline Advances. CPC Administrative Agent shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. At anytime Administrative Agent may choose to suspend Swingline Advances and treat all subsequent requests for an Advance as Revolving Loan Advances. In any event, no Swingline Advance will be made on or after the Termination Revolving Loan Maturity Date, and no Swingline Advance will be made which would result in the Swingline Loan exceeding the Maximum Swingline Amount. CPC mayNo Swingline Advance will be made which would result in the Swingline Loan plus the Lender acting as Administrative Agent’s Revolving Loans and such Lender’s pro-rata share of the Letter of Credit Exposure to exceed such Lender’s Revolving Loan Commitment; provided, however, Administrative Agent may, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC will not; and provided further, without however, that after making a requested Swingline Loan, the prior consent (which may be written or oral) sum of each the Swingline Lender, knowingly make any Swingline Advance which would cause the aggregate amount ’s pro rata share of the Aggregate Revolving Loan to and all outstanding Swingline Loans, may exceed the Swingline Lender’s pro rata share of the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline AdvanceCommitment. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (i) $7,500,000 or (ii) an amount equal to (a) Twenty-Five Million Dollars ($25,000,000) less the outstanding principal amount of any Swingline Loans and Aggregate Revolving Loan Commitment, minus (b) the amount by which sum of (i) the Revolving Loan Maximum Available Amount as Letter of such date exceeds Credit Exposure and (ii) the Aggregate Revolving LoansLoan immediately prior to the making of such Swingline Advance.

Appears in 1 contract

Samples: Loan Agreement (Layne Christensen Co)

Limitations on Swingline Advances. CPC Administrative Agent shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. In any event, no Swingline Advance will be made on or after the Termination Revolving Loan Maturity Date, and no Swingline Advance will be made which would result in either: (i) the Swingline Loan exceeding the Maximum Swingline Amount; or (ii) the Lenders’ Exposure exceeding the Total Aggregate Facility Limit. CPC Administrative Agent may, however, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC Administrative Agent will not, without the prior consent (which may be written oral or oralin writing) of each Lender, knowingly make any Swingline Advance which would cause the aggregate amount of the Aggregate Revolving Loan to exceed the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline Advance. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (ai) Twenty-Five Ten Million Dollars ($25,000,00010,000,000) less or (ii) an amount equal to the outstanding principal amount of any Swingline Loans and (b) the amount by which the Revolving Loan Maximum Available Amount as of such date exceeds minus the Aggregate Revolving LoansLoan immediately prior to the making of such Swingline Advance; provided, however, at no time shall any Advance be deemed to be a Swingline Advance, and such Advance shall be deemed to be a Revolving Advance, if the sum of the Swingline Loan and the amount of the Revolving Loans made by the Lender which is the Administrative Agent exceeds such Lender’s Revolving Loan Commitment as set forth on Exhibit 3 hereto.

Appears in 1 contract

Samples: Credit Facilities Agreement (MTM Technologies, Inc.)

AutoNDA by SimpleDocs

Limitations on Swingline Advances. CPC Administrative Agent shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. In any event, no Swingline Advance will be made on or after the Termination Revolving Loan Maturity Date, and no Swingline Advance will be made which would result in either: (i) the Swingline Loan exceeding the Maximum Swingline Amount; or (ii) the Lenders' Exposure exceeding the Total Aggregate Facility Limit. CPC Administrative Agent may, however, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC Administrative Agent will not, without the prior consent (which may be written oral or oralin writing) of each Lender, knowingly make any Swingline Advance which would cause the aggregate amount of the Aggregate Revolving Loan to exceed the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline Advance. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (ai) Twenty-Five Twenty Million Dollars ($25,000,00020,000,000) less or (ii) an amount equal to the outstanding principal amount of any Swingline Loans and (b) the amount by which the Revolving Loan Maximum Available Amount as of such date exceeds minus the Aggregate Revolving LoansLoan immediately prior to the making of such Swingline Advance; provided, however, at no time shall any Advance be deemed to be a Swingline Advance, and such Advance shall be deemed to be a Revolving Advance, if the sum of the Swingline Loan and the amount of the Revolving Loans made by the Lender which is the Administrative Agent exceeds such Lender's Revolving Loan Commitment as set forth on Exhibit 3 hereto.

Appears in 1 contract

Samples: Credit Facilities Agreement (Pomeroy It Solutions Inc)

Limitations on Swingline Advances. CPC Administrative Agent shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. At anytime Administrative Agent may choose to suspend Swingline Advances and treat all subsequent requests for an Advance as Revolving Loan Advances. In any event, no Swingline Advance will be made on or after the Termination Revolving Loan Maturity Date, and no Swingline Advance will be made which would result in the Swingline Loan exceeding the Maximum Swingline Amount. CPC mayNo Swingline Advance will be made which would result in the Swingline Loan plus the Lender acting as Administrative Agent's Revolving Loans and such Lender's pro-rata share of the Letter of Credit Exposure exceeding such Lender's Revolving Loan Commitment; provided, however, Administrative Agent may, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC will not; and provided further, without however, that after making a requested Swingline Loan, the prior consent (which may be written or oral) sum of each the Swingline Lender, knowingly make any Swingline Advance which would cause the aggregate amount 's pro rata share of the Aggregate Revolving Loan to and all outstanding Swingline Loans, may exceed the Swingline Lender's pro rata share of the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline AdvanceCommitment. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (i) $5,000,000 or (ii) an amount equal to (a) Twenty-Five Million Dollars ($25,000,000) less the outstanding principal amount of any Swingline Loans and Aggregate Revolving Loan Commitment, minus (b) the amount by which sum of (i) the Revolving Loan Maximum Available Amount as Letter of such date exceeds Credit Exposure and (ii) the Aggregate Revolving LoansLoan immediately prior to the making of such Swingline Advance.

Appears in 1 contract

Samples: Loan Agreement (Angelica Corp /New/)

Limitations on Swingline Advances. CPC Administrative Agent shall not be obligated to make any particular Swingline Advance, the making of any particular Swingline Advance at any particular time being absolutely discretionary. In any event, no Swingline Advance will be made on or after the Termination Revolving Loan Maturity Date, and no Swingline Advance will be made which would result in the Swingline Loan exceeding the Maximum Swingline Amount. CPC Administrative Agent may, however, in its absolute discretion make such Swingline Advances, but shall not be deemed by doing so to have increased the Maximum Swingline Amount and shall not be obligated to make any such Swingline Advance thereafter. CPC Administrative Agent will not, without the prior consent (which may be written oral or oralin writing) of each Lender, knowingly make any Swingline Advance which would cause the aggregate amount of the Aggregate Revolving Loan to exceed the Revolving Loan Maximum Available Amount as of such date immediately prior to the making of any such Swingline Advance. The Maximum Swingline Amount on any date for any Swingline Advance shall be a Dollar amount equal to the lesser of (ai) Twenty-Five Million Dollars $20,000,000 or ($25,000,000ii) less an amount equal to the outstanding principal amount of any Swingline Loans and (b) the amount by which the Revolving Loan Maximum Available Amount as of such date exceeds minus the Aggregate Revolving LoansLoan immediately prior to the making of such Swingline Advance; provided, however, at no time shall any Advance be deemed to be a Swingline Advance, and such Advance shall be deemed to be a Revolving Advance, if the sum of the Swingline Loan and the amount of the Revolving Loans made by the Lender which is the Administrative Agent exceeds such Lender's Revolving Loan Commitment as set forth on Exhibit 3 hereto.

Appears in 1 contract

Samples: Credit Facilities Agreement (Pomeroy Computer Resources Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.