Common use of Making of Swing Line Loans; Participations Clause in Contracts

Making of Swing Line Loans; Participations. Not later than 2:00 p.m. (New York time) on the applicable date of Borrowing, the Swing Line Bank shall make available the Swing Line Loan, in funds immediately available, to the Administrative Agent at its address specified pursuant to Section 11.8 hereof. The Administrative Agent will promptly make the funds so received from the Swing Line Bank available to the Borrower on the date of Borrowing at the Administrative Agent’s aforesaid address. Each time that a Swing Line Loan is made by the Swing Line Bank pursuant to this Section 2.1(b)(iii), the Swing Line Bank shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably sold to each Bank and each Bank shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from the Swing Line Bank a participation in such Swing Line Loan in proportion to its Percentage.

Making of Swing Line Loans; Participations. Not later than 2:00 p.m. (New York timePacific Standard Time) on the applicable date of BorrowingBorrowing Date, the Swing Line Bank Lender shall make available the Swing Line Loan, in funds immediately available, to the Administrative Agent at its address specified pursuant to Section 11.8 hereofArticle XIII. The Administrative Agent will promptly make the funds so received from the Swing Line Bank Lender available to the Borrower on the date of Borrowing Date at the Administrative Agent’s aforesaid address. Each time that a Swing Line Loan is made by the Swing Line Bank pursuant to this Section 2.1(b)(iii)shall be refinanced into a Revolving Loan within 10 Business Days and, upon such refinance, the Swing Line Bank Lender shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably sold to each Bank Lender and each Bank Lender shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from the Swing Line Bank Lender, a participation in such Swing Line Revolving Loan in proportion to its PercentagePro Rata Share. Swing Line Loans may not be refinanced by the Swing Line Lender into other Swing Line Loans.