PAYMENT OF SWING Sample Clauses

PAYMENT OF SWING. LINE ADVANCES Notwithstanding anything to the contrary provided herein, one or more Revolving Credit Advances (as may be necessary) will be made by the Banks to the Borrower if, prior to 10.00 a.m. on any business day, the Swing-Line Agent, on behalf of the Swing-Line Banks, gives notice to the Facility Agent that it requires each outstanding Swing-Line Advance to be repaid by means of a Revolving Credit Advance hereunder (and, for the purposes hereof such notice shall be deemed to have been automatically given by the Swing-Line Agent to the Facility Agent, if either (i) the Facility Agent receives notice from any other party hereto that an Event of Default has occurred or (ii) for any reason whatsoever the proceeds of a Revolving Credit Advance hereunder cannot be applied in the manner outlined in Clause 3.7) and, two business days after the Swing-Line Agent gives notice to the Facility Agent as aforesaid a Revolving Credit Advance will be made in respect of each outstanding Swing-Line Advance by the Banks in an amount of each such Swing-Line Advance and for a Term selected by the Facility Agent, in consultation with the Borrower, notwithstanding (a) the occurrence of an Event of Default, (b) any reduction in the Total Commitments after the date hereof or (c) any other requirements for a drawdown pursuant to any of the other provisions of this Clause 3 not being fulfilled Provided that nothing herein contained shall be construed so as to require the Banks to participate in any Revolving Credit Advance requested hereunder by the Swing-Line Agent to repay any Swing-Line Advance which was made in breach of Clause 7.2(b) or was made in the circumstances set out in Clause 7.3(b). Each Revolving Credit Bank will participate through its Facility Office in its Relevant Amount in any Revolving Credit Advance made pursuant to the terms of this Clause 3.8.
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PAYMENT OF SWING. LINE ADVANCES Notwithstanding anything to the contrary provided herein, one or more Revolving Credit Advances (as may be necessary) will be made by the Banks to the Borrower if, prior to 10.00 a.m. on any business day, the Swing-Line Agent, on behalf of the Swing-Line Banks, gives notice to the Facility Agent that it requires each outstanding Swing-Line Advance to be repaid by means of a Revolving Credit Advance hereunder (and, for the purposes hereof such notice shall be deemed to have been automatically given by the Swing-Line Agent to the Facility Agent, if either (i) the Facility Agent receives notice from any other party hereto that an Event of Default has occurred or (ii) for any reason whatsoever the proceeds of a Revolving Credit Advance hereunder
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Related to PAYMENT OF SWING

  • Payment of Notes 45 Section 4.02 Maintenance of Office or Agency................................................................ 45 Section 4.03 Reports........................................................................................ 45 Section 4.04

  • Payment of Salary Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive.

  • Payment of Note Punctually pay or cause to be paid the principal of, interest on and all other amounts payable hereunder and under the Note in accordance with the terms thereof.

  • Payment of Severance Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later), equal to two and ninety-nine one-hundredths (2.99) times the Eligible Employee’s Final Pay.

  • Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows:

  • Payment of Reimbursement Amount To effect the expense reimbursement provided for in this Agreement, the Fund may offset the appropriate Reimbursement Amount against the management fees, Rule 12b-1 fees and/or shareholder servicing fees payable under the Investment Management Agreement, Rule 12b-1 Plan and/or the Shareholder Servicing Agreement. Alternatively, the Reimbursement Amount shall be paid directly by IICO, IDI and/or WISC. Such offset shall be taken, or such direct payment shall be paid, two times per year within 30 days following the date of a Fund’s applicable semi-annual or annual reporting period.

  • Payment of Note Principal (a) Monthly Payments During Series 2004-1 Controlled Amortization Period or Series 2004-1

  • Investment of Special Payment Moneys Any money received by the Trustee pursuant to Section 4.01(b) representing a Special Payment which is not distributed on the date received shall, to the extent practicable, be invested in Permitted Investments by the Trustee pending distribution of such Special Payment pursuant to Section 4.02. Any investment made pursuant to this Section 4.04 shall be in such Permitted Investments having maturities not later than the date that such moneys are required to be used to make the payment required under Section 4.02 on the applicable Special Distribution Date and the Trustee shall hold any such Permitted Investments until maturity. The Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04, other than by reason of the willful misconduct or negligence of the Trustee. All income and earnings from such investments shall be distributed on such Special Distribution Date as part of such Special Payment.

  • Repayment of Notes Each of the parties hereto agrees that all repayments of the Notes (including any accrued interest thereon) by the Company (other than by conversion of the Notes) will be paid pro rata to the holders thereof based upon the principal amount then outstanding to each of such holders.

  • No Payment When Senior Debt in Default; Payment Over of Proceeds Upon Dissolution, Etc (a) In the event and during the continuation of any default by the Company in the payment of any principal of or any premium or interest on any Senior Debt (following any grace period, if applicable) when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration of acceleration or otherwise, then, upon written notice of such default to the Company by the holders of such Senior Debt or any trustee therefor, unless and until such default shall have been cured or waived or shall have ceased to exist, no direct or indirect payment (in cash, property, securities, by set-off or otherwise) shall be made or agreed to be made on account of the principal of or any premium or interest (including any Additional Interest) on any of the Securities, or in respect of any redemption, repayment, retirement, purchase or other acquisition of any of the Securities.

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