Common use of Payment to Swing Line Lender Clause in Contracts

Payment to Swing Line Lender. Notwithstanding any contrary provision of this Agreement (i) except as set forth in clause (ii) of this Section 3.2.6(c) all payments of principal and interest on the Used Vehicle Swing Line Loans shall be paid by Agent solely to the Swing Line Lender; and (ii) with respect to each participation in Used Vehicle Swing Line Loans which is funded by any Lender, such Lender (including Swing Line Lender in its capacity as Lender) shall be entitled to receive its Pro Rata Share of payments of (A) principal on such Used Vehicle Swing Line Loans and (B) interest on such Used Vehicle Swing Line Loans only for the period following the date such participation is funded.

Appears in 2 contracts

Samples: Loan Agreement (Lithia Motors Inc), Loan Agreement (Lithia Motors Inc)

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Payment to Swing Line Lender. Notwithstanding any contrary provision of this Agreement (i) except as set forth in clause (ii) of this Section 3.2.6(c4.2.6(c) all payments of principal and interest on the Used Vehicle Revolving Swing Line Loans shall be paid by Agent solely to the Swing Line Lender; and (ii) with respect to each participation in Used Vehicle Revolving Swing Line Loans which is funded by any Lender, such Lender (including Swing Line Lender in its capacity as Lender) shall be entitled to receive its Pro Rata Share of payments of (A) principal on such Used Vehicle Revolving Swing Line Loans and (B) interest on such Used Vehicle Revolving Swing Line Loans only for the period following the date such participation is funded.

Appears in 2 contracts

Samples: Loan Agreement (Lithia Motors Inc), Loan Agreement (Lithia Motors Inc)

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Payment to Swing Line Lender. Notwithstanding any contrary provision of this Agreement (i) except as set forth in clause (ii) of this Section 3.2.6(c3.2.7(c) all payments of principal and interest on the Used Vehicle Revolving Swing Line Loans shall be paid by Agent solely to the Swing Line Lender; and (ii) with respect to each participation in Used Vehicle Revolving Swing Line Loans which is funded by any Lender, such Lender (including Swing Line Lender in its capacity as Lender) shall be entitled to receive its Pro Rata Share of payments of (A) principal on such Used Vehicle Revolving Swing Line Loans and (B) interest on such Used Vehicle Revolving Swing Line Loans only for the period following the date such participation is funded.

Appears in 1 contract

Samples: Loan Agreement (Lithia Motors Inc)

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