Common use of Participation in Swing Line Loans Clause in Contracts

Participation in Swing Line Loans. If, prior to refunding a Swing Line Loan with a Revolving Credit Advance pursuant to Section 1.1(c)(iii), one of the events described in Sections 8.1 (h) or 8.1(i) shall have occurred with respect to Borrower, then, subject to the provisions of Section 1.1(c)(v) below, each Lender will, on the date such Revolving Credit Advance was to have been made to Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Lender will promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation and upon receipt thereof the Swing Line Lender will deliver to such Lender a Swing Line Loan participation certificate, in form and substance reasonably satisfactory to Agent, dated the date of receipt of such funds and in such amount.

Appears in 4 contracts

Samples: Credit Agreement (Wilsons the Leather Experts Inc), Assignment Agreement (Wilsons the Leather Experts Inc), Credit Agreement (Wilsons the Leather Experts Inc)

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Participation in Swing Line Loans. If, prior to refunding a Swing Line Loan with a the making of Prime Rate Revolving Credit Advance Loans pursuant to paragraph (c) of this Section 1.1(c)(iii)2.11, one of the events described in Sections 8.1 (h7.1(e) or 8.1(i7.1(f) shall have occurred with respect to Borroweroccurred, then, subject to the provisions of Section 1.1(c)(vclause (e) below, each Revolving Lender will, on the date such Revolving Credit Advance was Loans were to have been made to Borrowermade, purchase from the Swing Line Lender an undivided participation participating interest in the Refunded Swing Line Loan in an amount equal to its Revolving Loan Pro Rata Share of such Refunded Swing Line Loan. Upon request, each Revolving Lender will promptly immediately transfer to the Swing Line Lender, in immediately available funds, the amount of its participation and upon receipt thereof the Swing Line Lender will deliver to such Lender a Swing Line Loan participation certificate, in form and substance reasonably satisfactory to Agent, Participation Certificate dated the date of receipt of such funds and in such amount.. (e)

Appears in 1 contract

Samples: Credit Agreement (Stone Container Corp)

Participation in Swing Line Loans. If, prior to refunding a Swing Line Loan with a Revolving Credit Advance pursuant to Section 1.1(c)(iii), one of the events described in Sections 8.1 (h8.1(h) or 8.1(i) shall have occurred with respect to Borroweroccurred, then, subject to the provisions of Section 1.1(c)(v) below, each Revolving Lender will, on the date such Revolving Credit Advance was to have been made to for the benefit of Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Revolving Lender will promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation and upon receipt thereof the Swing Line Lender will deliver to such Revolving Lender a Swing Line Loan participation certificateParticipation Certificate, in substantially the form and substance reasonably satisfactory to Agentof Exhibit 1.1(c)(iv), dated the date of receipt of such funds and in such amount.

Appears in 1 contract

Samples: Credit Agreement (American Physician Partners Inc)

Participation in Swing Line Loans. If, prior to refunding a Swing Line Loan with a Revolving Credit Advance pursuant to Section 1.1(c)(iii1.1(b)(iii), one of the events described in Sections 8.1 (h8.1(h) or 8.1(i) shall have occurred with respect to Borrower, then, subject to the provisions of Section 1.1(c)(v1.1(b)(v) below, each Lender will, on the date such Revolving Credit Advance was to have been made to Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Lender will promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation and upon receipt thereof the Swing Line Lender will deliver to such Lender a Swing Line Loan participation certificateParticipation Certificate, in substantially the form and substance reasonably satisfactory to Agentof Exhibit 1.1(b)(iv), dated the date of receipt of such funds and in such amount.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

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Participation in Swing Line Loans. If, prior to refunding a Swing Line Loan with a Revolving Credit Advance pursuant to Section 1.1(c)(iiiSECTION 1.1(B)(III), one of the events described in Sections SECTIONS 8.1 (hH) or 8.1(i8.1(I) shall have occurred with respect to Borrower, then, subject to the provisions of Section 1.1(c)(vSECTION 1.1(B)(V) below, each Lender will, on the date such Revolving Credit Advance was to have been made to Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Lender will promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation and upon receipt thereof the Swing Line Lender will deliver to such Lender a Swing Line Loan participation certificate, in form and substance reasonably satisfactory to Agent, dated the date of receipt of such funds and in such amount.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

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