Participation in Swing Line Loans. If, prior to refunding a Swing Line Loan with a Revolving Credit Advance pursuant to SECTION 1.1(b)(iii), one of the events described in SECTIONS 8.1(h) or 8.1(i) shall have occurred, then, subject to the provisions of SECTION 1.1(b)(v) below, each Revolving Lender shall, on the date such Revolving Credit Advance was to have been made for the benefit of the applicable Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan to such Borrower in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Revolving Lender shall promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation interest.
Appears in 1 contract
Samples: Credit Agreement (Track N Trail Inc)
Participation in Swing Line Loans. If, prior to refunding a --------------------------------- Swing Line Loan with a Revolving Credit Advance pursuant to SECTION Section 1.1(b)(iii), ------------------- one of the events described in SECTIONS Sections 8.1(f), 8.1(g), 8.1(h) or 8.1(i) shall have ------------------------------- occurred, then, subject to the provisions of SECTION Section 1.1(b)(v) below, each ----------------- Revolving Lender shallwill, on the date such Revolving Credit Advance was to have been made for the benefit of the applicable Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan to such Borrower in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Revolving Lender shall will promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation interestparticipation.
Appears in 1 contract
Participation in Swing Line Loans. If, prior to refunding a --------------------------------- Swing Line Loan with a Revolving Credit Advance pursuant to SECTION Section ------- 1.1(b)(iii), one of the events described in SECTIONS Sections 8.1(h) or 8.1(i) shall ----------- --------------- ------ have occurred, then, subject to the provisions of SECTION Section 1.1(b)(v) below, ----------------- each Revolving Lender shallwill, on the date such Revolving Credit Advance was to have been made for the benefit of the applicable Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan to such Borrower in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Revolving Lender shall will promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation interestparticipation.
Appears in 1 contract
Participation in Swing Line Loans. If, prior to refunding a --------------------------------- Swing Line Loan with a Revolving Credit Advance pursuant to SECTION Section ------- 1.1(b)(iii), one of the events described in SECTIONS Sections 8.1(h) or 8.1(i) shall ----------- --------------- ------ have occurred, then, subject to the provisions of SECTION 1.1(b)(vof
Section 1.1 (b)(v) below, each Revolving Lender shallwill, on the date such ----------------- Revolving Credit Advance was to have been made for the benefit of the applicable Borrower, purchase from the Swing Line Lender an undivided participation interest in the Swing Line Loan to such Borrower in an amount equal to its Pro Rata Share of such Swing Line Loan. Upon request, each Revolving Lender shall will promptly transfer to the Swing Line Lender, in immediately available funds, the amount of its participation interestparticipation.
Appears in 1 contract