Making of Swingline Loans. (i) If the Borrower elects to have the terms of this Section 2.4(f) apply to a requested Revolving Credit Borrowing of a Base Rate Loan, the Swingline Lender shall make a Revolving Loan in the amount of that Borrowing available to the Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or such other account(s) as may be designated by the Borrower in writing. Each Revolving Loan made solely by the Swingline Lender pursuant to this Section 2.4(f) is herein referred to as a “Swingline Loan,” and such Revolving Loans are collectively referred to as the “Swingline Loans.” Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own account. The Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX will not be satisfied on the requested Funding Date for the applicable Borrowing, (B) the requested Borrowing would exceed then-current Availability on that Funding Date (as reasonably determined by the Agent), or (C) such Swingline Loan would cause the aggregate outstanding principal balance of all Swingline Loans to exceed $15,000,000 (the “Swingline Sublimit”).
Appears in 7 contracts
Samples: Credit Agreement (ProPetro Holding Corp.), Credit Agreement (ProPetro Holding Corp.), Credit Agreement (ProFrac Holding Corp.)
Making of Swingline Loans. (i) If the Borrower elects to have the terms of this Section 2.4(f) apply to a requested Revolving Credit Borrowing of a Base Rate Loan, the Swingline Lender shall make a Revolving Loan in the amount of that Borrowing available to the Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or such other account(s) as may be designated by the Borrower in writing. Each Revolving Loan made solely by the Swingline Lender pursuant to this Section 2.4(f) is herein referred to as a “Swingline Loan,” and such Revolving Loans are collectively referred to as the “Swingline Loans.” Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own account. The Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX will not be satisfied on the requested Funding Date for the applicable Borrowing, (B) the requested Borrowing would exceed then-then- current Availability on that Funding Date (as reasonably determined by the Agent), or (C) such Swingline Loan would cause the aggregate outstanding principal balance of all Swingline Loans to exceed $15,000,000 (the “Swingline Sublimit”).
Appears in 5 contracts
Samples: Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.)
Making of Swingline Loans. (i) If the Borrower elects to have the terms of this Section 2.4(f) apply to a requested Revolving Credit Borrowing of a Base Rate Loan, the Swingline Lender shall make a Revolving Loan in the amount of that Borrowing available to the Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or such other account(s) as may be designated by the Borrower in writing. Each Revolving Loan made solely by the Swingline Lender pursuant to this Section 2.4(f) is herein referred to as a “Swingline Loan,” and such Revolving Loans are collectively referred to as the “Swingline Loans.” Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own account. The Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX will not be satisfied on the requested Funding Date for the applicable Borrowing, (B) the requested Borrowing would exceed then-current Availability on that Funding Date (as reasonably determined by the Agent), or (C) such Swingline Loan would cause the aggregate outstanding principal balance of all Swingline Loans to exceed $15,000,000 7,500,000 (the “Swingline Sublimit”).
Appears in 3 contracts
Samples: Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.)
Making of Swingline Loans. (i) If In order to reduce the Borrower elects frequency of transfers of funds from Lenders to have the Administrative Agent for making Revolving Loans and subject to the terms and conditions herein set forth, in reliance upon the agreements of the other Lenders set forth in this Section 2.4(f) apply to a requested Revolving Credit Borrowing of a Base Rate Loan2.2, the Swingline Lender shall may, at its option, from time to time make a Tranche A Revolving Loan in upon the amount of that Borrowing available to the request by any Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or (any such other account(s) as may be designated by the Borrower in writing. Each Tranche A Revolving Loan made solely by the Swingline Lender pursuant to this Section 2.4(f2.2(h) is herein being referred to as a “Swingline Loan,” and such Tranche A Revolving Loans are collectively being referred to collectively as the “Swingline Loans.” ”) available to the Borrowers on the Funding Date applicable thereto by transferring same day funds to the deposit account of the Borrowers, designated pursuant to Section 2.2(c). Each Swingline Loan shall be subject to all the terms and conditions applicable to other Tranche A Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Swingline Loan). The Administrative Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Administrative Agent has shall have received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX 10 will not be satisfied on the requested Funding Date for the applicable Borrowing, or (B) the requested Borrowing would exceed then-current Availability on Administrative Agent has received notice that Funding Date (as reasonably determined by a Default exists under Section 9.26. Neither the Agent)Administrative Agent nor the Swingline Lender shall otherwise be required to determine whether the applicable conditions precedent set forth in Article 10 have been satisfied prior to the Swingline Lender making, or (C) such in its sole discretion, any Swingline Loan would cause the Loan. The aggregate outstanding principal balance amount of all Swingline Loans to outstanding at any time shall not exceed $15,000,000 (the “Swingline Sublimit”)25,000,000.
Appears in 2 contracts
Samples: Loan and Security Agreement (FLAG INTERMEDIATE HOLDINGS Corp), Loan and Security Agreement (Metals Usa Holdings Corp.)
Making of Swingline Loans. (i) If In order to reduce the Borrower elects frequency of transfers of funds from Lenders to have the Administrative Agent for making Revolving Loans and subject to the terms of this Section 2.4(f) apply to a requested Revolving Credit Borrowing of a Base Rate Loanand conditions herein set forth, the Swingline Lender shall make a Tranche A Revolving Loan in upon the amount of that Borrowing available to the request by any Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or (any such other account(s) as may be designated by the Borrower in writing. Each Tranche A Revolving Loan made solely by the Swingline Lender pursuant to this Section 2.4(f2.2(h) is herein being referred to as a “Swingline Loan,” and such Tranche A Revolving Loans are collectively being referred to collectively as the “Swingline Loans.” ”) available to the Borrowers on the Funding Date applicable thereto by transferring same day funds to the deposit account of the Borrowers, designated pursuant to Section 2.2(c). Each Swingline Loan shall be subject to all the terms and conditions applicable to other Tranche A Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Tranche A Revolving Loan). The Administrative Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Administrative Agent has shall have received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX 10 will not be satisfied on the requested Funding Date for the applicable Borrowing, or (B) the requested Borrowing would exceed then-current Availability on Administrative Agent has received notice that Funding Date (as reasonably determined by a Default exists under Section 9.26. The Administrative Agent shall not otherwise be required to determine whether the Agent)applicable conditions precedent set forth in Article 10 have been satisfied prior to making, or (C) such in its sole discretion, any Swingline Loan would cause the Loan. The aggregate outstanding principal balance amount of all Swingline Loans to outstanding at any time shall not exceed $15,000,000 (the “Swingline Sublimit”)15,000,000.
Appears in 1 contract
Samples: Loan and Security Agreement (Metals USA Plates & Shapes Southcentral, Inc.)
Making of Swingline Loans. (i) If Subject to Section 2.1(f), if the Borrower elects Administrative Agent elects, with the consent of JPMorgan Chase Bank, to have the terms of this Section 2.4(f2.1(h) apply to a requested Revolving Credit Borrowing of a Base Floating Rate LoanAdvance requested by any U.S. Borrower, the Swingline Lender JPMorgan Chase Bank shall make a Revolving Loan an Advance in the amount of that Borrowing requested available to the Borrower U.S. Borrowers on the applicable Funding Borrowing Date by transferring same day funds to the Designated Account or such other account(s) as may be designated by the Borrower in writingapplicable Funding Account. Each Revolving Loan advance made solely by the Swingline Lender JPMorgan Chase Bank pursuant to this Section 2.4(f2.1(h) is herein referred to in this Agreement as a “Swingline Loan,” and such Revolving Loans Advances are collectively referred to as the “Swingline Loans.” Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans Advances funded by the Lenders, except that all payments thereon (including interest) shall be payable to the Swingline Lender JPMorgan Chase Bank solely for its own account. The aggregate amount of Swingline Loans outstanding at any time shall not exceed $20,000,000. The Administrative Agent shall not request the Swingline Lender JPMorgan Chase Bank to make any Swingline Loan if (A) the Administrative Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX 4 will not be satisfied on the requested Funding Borrowing Date for the applicable BorrowingSwingline Loan, or (B) the requested Borrowing would exceed then-current Swingline Loan exceeds the Unused Availability on that Funding Date (as reasonably determined by the Agent), or (C) before giving effect to such Swingline Loan Loan) or would cause the aggregate outstanding principal balance of all Aggregate Outstanding Credit Exposure (after giving effect to such Swingline Loan) to exceed the Aggregate Commitment on the applicable Borrowing Date. The Swingline Loans shall be secured by the Liens granted to exceed $15,000,000 (the “Administrative Agent in and to the Facility Collateral and shall constitute Obligations hereunder. All Swingline Sublimit”)Loans shall be Floating Rate Advances.
Appears in 1 contract
Samples: Credit Agreement (K2 Inc)
Making of Swingline Loans. (i) If Subject to Section 2.1(f), if the Borrower elects Administrative Agent elects, with the consent of JPMorgan Chase Bank, N.A., to have the terms of this Section 2.4(f2.1(h) apply to a requested Revolving Credit Borrowing of a Base Floating Rate LoanAdvance requested by any U.S. Borrower, the Swingline Lender JPMorgan Chase Bank, N.A. shall make a Revolving Loan an Advance in the amount of that Borrowing requested available to the Borrower U.S. Borrowers on the applicable Funding Borrowing Date by transferring same day funds to the Designated Account or such other account(s) as may be designated by the Borrower in writingapplicable Funding Account. Each Revolving Loan advance made solely by the Swingline Lender JPMorgan Chase Bank, N.A. pursuant to this Section 2.4(f2.1(h) is herein referred to in this Agreement as a “Swingline Loan,” and such Revolving Loans Advances are collectively referred to as the “Swingline Loans.” Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans Advances funded by the Lenders, except that all payments thereon (including interest) shall be payable to the Swingline Lender JPMorgan Chase Bank, N.A. solely for its own account. The aggregate amount of Swingline Loans outstanding at any time shall not exceed $20,000,000. The Administrative Agent shall not request the Swingline Lender JPMorgan Chase Bank, N.A. to make any Swingline Loan if (A) the Administrative Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX 4 will not be satisfied on the requested Funding Borrowing Date for the applicable BorrowingSwingline Loan, or (B) the requested Borrowing would exceed then-current Swingline Loan exceeds the Unused Availability on that Funding Date (as reasonably determined by the Agent), or (C) before giving effect to such Swingline Loan Loan) or would cause the aggregate outstanding principal balance of all Aggregate Outstanding Credit Exposure (after giving effect to such Swingline Loan) to exceed the Aggregate Commitment on the applicable Borrowing Date. The Swingline Loans shall be secured by the Liens granted to exceed $15,000,000 (the “Administrative Agent in and to the Facility Collateral and shall constitute Obligations hereunder. All Swingline Sublimit”)Loans shall be Floating Rate Advances.
Appears in 1 contract
Samples: Credit Agreement (K2 Inc)
Making of Swingline Loans. Subject to the terms and conditions hereof, and relying on the representations and warranties of the Loan Parties set forth herein and in the other Loan Documents, Swingline Lender agrees to make Swingline Loans to Borrower at any time and from time to time after the Closing Date to, but not including, the Maturity Date or, if earlier, the termination of the Revolving Loan Commitment pursuant to Section 2.20, in an aggregate principal amount not to exceed the Swingline Commitment; provided, however, unless Borrower has complied with Section 2.19 with respect to the Swingline Lender’s Fronting Exposure, if at any time any Lender is a Defaulting Lender, the making of Swingline Loans shall be at the sole discretion of the Swingline Lender. On the terms and subject to the conditions hereof, Borrower may from time to time borrow, prepay and reborrow Swingline Loans. After giving effect to each Swingline Loan, (i) the Revolving Loan Exposure shall not exceed the Revolving Loan Commitments, (ii) the aggregate principal amount of such Revolving Loan Lender’s Revolving Loan Exposure shall not exceed such Revolving Loan Lender’s Revolving Loan Commitment and (iii) the outstanding amount of all Swingline Loans shall not exceed the Swingline Commitment. If at any time the aggregate principal balance of the Swingline Loans then outstanding exceeds the Swingline Commitment, Borrower elects shall be deemed to have the terms of this Section 2.4(f) apply to a requested Revolving Credit Borrowing of a Base Rate Loan, the Swingline Lender shall make a Revolving Loan Borrowing in the amount of that Borrowing available the difference in the manner and pursuant to the Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or such other account(s) as may be designated by the Borrower in writing. Each Revolving Loan made solely by the Swingline Lender pursuant to this terms of Section 2.4(f) is herein referred to as a “Swingline Loan,” and such Revolving Loans are collectively referred to as the “Swingline Loans.” Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own account. The Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX will not be satisfied on the requested Funding Date for the applicable Borrowing, (B) the requested Borrowing would exceed then-current Availability on that Funding Date (as reasonably determined by the Agent), or (C) such Swingline Loan would cause the aggregate outstanding principal balance of all Swingline Loans to exceed $15,000,000 (the “Swingline Sublimit”2.04(b).
Appears in 1 contract
Samples: Credit Agreement (Fusion Telecommunications International Inc)
Making of Swingline Loans. (i) If Except in the Borrower elects case of LIBO Rate Revolving Loans requested by a Borrower, in the event the Administrative Agent shall elect, with the consent of the Swingline Lender, to have the terms of this Section 2.4(f2.2(h) apply to a requested Revolving Credit Borrowing of a Base Rate Loanas described in Section 2.2(f), the Swingline Lender shall make a Revolving Loan in the amount of that such Borrowing available to the Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or (any such other account(s) as may be designated by the Borrower in writing. Each Revolving Loan made solely by the Swingline Lender pursuant to this Section 2.4(f2.2(h) is herein being referred to as a “Swingline Loan,” and such Revolving Loans are collectively being referred to collectively as the “Swingline Loans.” ”) available to the Borrowers on the Funding Date applicable thereto by transferring same day funds to the deposit account of the Borrowers, designated pursuant to Section 2.2(c); provided, that, the aggregate principal amount of the Swing Loans outstanding at any time shall not exceed the Swingline Sublimit. Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Revolving Loan). The Administrative Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Administrative Agent has shall have received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX 11 will not be satisfied on the requested Funding Date for the applicable Borrowing, or (B) the requested Borrowing would exceed then-current Availability on Administrative Agent has received notice that Funding Date (as reasonably determined by a Default has occurred and is continuing under Section 9.10. The Administrative Agent shall not otherwise be required to determine whether the Agent)applicable conditions precedent set forth in Article 11 have been satisfied prior to making, or (C) such in its sole discretion, any Swingline Loan would cause the Loan. The aggregate outstanding principal balance amount of all Swingline Loans to outstanding at any time shall not exceed $15,000,000 (the “Swingline Sublimit”).
Appears in 1 contract
Samples: Loan and Security Agreement (EveryWare Global, Inc.)
Making of Swingline Loans. (i) If the Borrower elects to have the terms of this Section 2.4(f) apply to a requested Revolving Credit Borrowing of a Base Rate Loan, the Swingline Lender shall make a Revolving Loan in the amount of that Borrowing available to the Borrower on the applicable Funding Date by transferring same day funds to the Designated Account or such other account(s) as may be designated by the Borrower in writing. Each Revolving Loan made solely by the Swingline Lender pursuant to this Section 2.4(f) is herein referred to as a “Swingline Loan,” and such Revolving Loans are collectively referred to as the “Swingline Loans.” Each Swingline Loan shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon (including interest) shall be payable to the Swingline Lender solely for its own account. The Agent shall not request the Swingline Lender to make any Swingline Loan if (A) the Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article IX will not be satisfied on the requested Funding Date for the applicable Borrowing, (B) the requested Borrowing would exceed then-current Availability on that Funding Date (as reasonably determined by the Agent), or (C) such Swingline Loan would cause the aggregate outstanding principal balance of all Swingline Loans to exceed $15,000,000 35,000,000 (the “Swingline Sublimit”).
Appears in 1 contract