Common use of Refinancing of Swingline Advances Clause in Contracts

Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof), without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings but subject to the unutilized portion of the Revolving Commitments and the conditions set forth in Section 3.2. The Swingline Lender shall furnish the Borrower with a copy of the applicable Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds for the account of the Swingline Lender at the Administrative Agent’s Lending Office not later than 1:00 p.m. on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 2 contracts

Samples: Credit Agreement (Helmerich & Payne Inc), Credit Agreement (Helmerich & Payne Inc)

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Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower Borrowers (which hereby irrevocably authorizes authorize the Swingline Lender to so request on its their behalf), that each Revolving Lender make a Revolving Advance consisting of Base Rate Advance Advances in an amount equal to such Revolving Lender’s Applicable Percentage of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof), without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings but subject to the unutilized portion of the Revolving Commitments and the conditions set forth in Section 3.2. The Swingline Lender shall furnish the Borrower Representative with a copy of the applicable Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Revolving Advance complies with Section 2.5, each Revolving Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds for the account of the Swingline Lender at the Administrative Agent’s Lending Office not later than 1:00 p.m. (Houston, Texas, time) on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii), each Revolving Lender that so makes funds available shall be deemed to have made a Revolving Advance consisting of Base Rate Advance Advances to the Borrower Borrowers in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 2 contracts

Samples: Credit Agreement (Rowan Companies PLC), Credit Agreement (Rowan Companies PLC)

Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such Lender’s Applicable Percentage Pro Rata Share of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice of Borrowing for purposes hereof)) and in accordance with the requirements of Sections 2.01 and 2.02, without regard to the minimum and multiples specified in Section 2.5(c) therein for the principal amount of Revolving Borrowings Base Rate Advances, but subject to the unutilized portion of the Revolving Commitments Credit Facility and the conditions set forth in Section 3.23.02. The Swingline Lender shall furnish the Borrower Borrowers with a copy of the applicable Loan Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Each Lender shall make an amount equal to its Applicable Percentage Pro Rata Share of the amount specified in such Loan Notice of Borrowing available to the Administrative Agent in Same Day Funds immediately available funds (and the Agent may apply Cash Collateral available with respect to the applicable Swingline Advance) for the account of the Swingline Lender at the Administrative Agent’s Applicable Lending Office not later than 1:00 p.m. on the day specified in such Notice of BorrowingLoan Notice, whereupon, subject to Section 2.4(d)(iii2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the applicable Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 2 contracts

Samples: Credit Agreement (Scholastic Corp), Credit Agreement (Scholastic Corp)

Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such Lender’s Applicable Percentage fund its pro rata share of the amount of the Swingline Advances Loan then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing request for a Base Rate Advance for purposes hereof)) and in accordance with the requirements of Sections 7.10 and 7.13, without regard to the minimum and multiples specified in Section 2.5(c) therein for the principal amount of Revolving Borrowings Base Rate Advances, but subject to limited by the unutilized portion of the Revolving Commitments Maximum Available Amount and the conditions set forth in Section 3.29.2 for subsequent Revolving Advances (other than as provided to the contrary in clause (iv) below). The Swingline Lender shall promptly furnish the Borrower with a copy of the applicable Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Advance. Each Lender shall make an amount equal to its Applicable Percentage pro rata share of the amount specified in such Notice of Borrowing requested Base Rate Advance available to the Administrative Agent in Same Day Funds immediately available funds for the account of the Swingline Lender at the Administrative Agent’s Lending Office not later than 1:00 p.m. (Local Time) on the day specified in such Notice of Borrowingrequest, whereupon, subject to clause (ii) of this Section 2.4(d)(iii)3.2.5, each Lender that so makes funds available shall be deemed to have made a funded its pro rata share of the Requested Base Rate Advance to the Borrower in such amountAdvance. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 2 contracts

Samples: Credit Facilities Agreement (Young Innovations Inc), Credit Agreement (Young Innovations Inc)

Refinancing of Swingline Advances. (i) The Swingline Lender Bank at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender Bank to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such Lender’s Applicable Commitment Percentage of the amount of Swingline Advances made by such Swingline Bank then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof)) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings therein, but subject to the unutilized portion of the Revolving aggregate Available Commitments and the conditions set forth in Section 3.23.02. The Swingline Lender Bank shall furnish the Borrower with a copy of the applicable such Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Each Lender shall make an amount equal to its Applicable Commitment Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds immediately available funds for the account of the Swingline Lender Bank at the Administrative Agent’s Lending Office Account not later than 1:00 p.m. PM (New York City time) on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii)subsection (c)(ii) of this Section, each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (American Electric Power Co Inc)

Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such LenderXxxxxx’s Applicable Percentage Pro Rata Share of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice of Borrowing for purposes hereof)) and in accordance with the requirements of Sections 2.01 and 2.02, without regard to the minimum and multiples specified in Section 2.5(c) therein for the principal amount of Revolving Borrowings Base Rate Advances, but subject to the unutilized portion of the Revolving Commitments Credit Facility and the conditions set forth in Section 3.23.02. The Swingline Lender shall furnish the Borrower Borrowers with a copy of the applicable Loan Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Each Lender shall make an amount equal to its Applicable Percentage Pro Rata Share of the amount specified in such Loan Notice of Borrowing available to the Administrative Agent in Same Day Funds immediately available funds (and the Agent may apply Cash Collateral available with respect to the applicable Swingline Advance) for the account of the Swingline Lender at the Administrative Agent’s Applicable Lending Office not later than 1:00 p.m. on the day specified in such Notice of BorrowingLoan Notice, whereupon, subject to Section 2.4(d)(iii2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the applicable Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Scholastic Corp)

Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof), without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings but subject to the unutilized portion of the Revolving Commitments and the conditions set forth in Section 3.2. The Swingline Lender shall furnish the Borrower with a copy of the applicable Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds for the account of the Swingline Lender at the Administrative Agent’s Lending Office not later than 1:00 p.m. (Houston, Texas, time) on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Refinancing of Swingline Advances. (i) The Swingline Lender Bank at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender Bank to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such LenderXxxxxx’s Applicable Commitment Percentage of the amount of Swingline Advances made by such Swingline Bank then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof)) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings therein, but subject to the unutilized portion of the Revolving aggregate Available Commitments and the conditions set forth in Section 3.23.02. The Swingline Lender Bank shall furnish the Borrower with a copy of the applicable such Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Each Lender shall make an amount equal to its Applicable Commitment Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds immediately available funds for the account of the Swingline Lender Bank at the Administrative Agent’s Lending Office Account not later than 1:00 p.m. PM (New York City time) on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii)subsection (c)(ii) of this Section, each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement

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Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Revolving Lender make a Revolving Advance consisting of Base Rate Advance Advances in an amount equal to such Revolving Lender’s 's Applicable Percentage of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof), without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings but subject to the unutilized portion of the Revolving Commitments and the conditions set forth in Section 3.2. The Swingline Lender shall furnish the Borrower with a copy of the applicable Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Revolving Advance complies with Section 2.5, each Revolving Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds for the account of the Swingline Lender at the Administrative Agent’s 's Lending Office not later than 1:00 p.m. (Houston, Texas, time) on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii), each Revolving Lender that so makes funds available shall be deemed to have made a Revolving Advance consisting of Base Rate Advance Advances to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Refinancing of Swingline Advances. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Revolving Lender make a Revolving Advance consisting of Base Rate Advance Advances in an amount equal to such Revolving Lender’s 's Applicable Percentage of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof), without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings but subject to the unutilized portion of the Revolving Commitments and the conditions set forth in Section 3.23.3. The Swingline Lender shall furnish the Borrower with a copy of the applicable Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Revolving Advance complies with Section 2.5, each Revolving Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds for the account of the Swingline Lender at the Administrative Agent’s 's Lending Office not later than 1:00 p.m. (Houston, Texas, time) on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii), each Revolving Lender that so makes funds available shall be deemed to have made a Revolving Advance consisting of Base Rate Advance Advances to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Refinancing of Swingline Advances. (i) The Each Swingline Advance shall be payable on the earlier of demand by Swingline Lender or the Maturity Date. In addition, Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower SOURCECORP (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Advance Loan in an amount equal to such Lender’s Applicable Commitment Percentage of the amount of Swingline Advances then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice notice of Borrowing borrowing for purposes hereof)) and in accordance with the requirements of Sections 2.5 and 2.6, without regard to the minimum and multiples specified in Section 2.5(c) 2.8 for the principal amount of Revolving Borrowings Base Rate Loans, but subject to the unutilized portion of the Revolving aggregate amount of the Commitments of the Lenders and the conditions set forth in Section 3.26.2. The Swingline Lender shall furnish the Borrower SOURCECORP with a copy of the applicable Notice notice of Borrowing borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Each Lender shall make an amount equal to its Applicable Commitment Percentage of the amount specified in such Notice notice of Borrowing borrowing available to the Administrative Agent in Same Day Funds immediately available funds for the account of the Swingline Lender at the Administrative Agent’s Lending Principal Office not later than 1:00 p.m. on the day specified in such Notice notice of Borrowingborrowing, whereupon, subject to Section 2.4(d)(iii2.15(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate Advance Loan to the Borrower SOURCECORP in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Sourcecorp Inc)

Refinancing of Swingline Advances. (i) The Swingline Lender Bank at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender Bank to so request on its behalf), that each Lender make a Base Rate Advance in an amount equal to such Lender’s Applicable Commitment Percentage of the amount of Swingline Advances made by such Swingline Bank then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Borrowing for purposes hereof)) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified in Section 2.5(c) for the principal amount of Revolving Borrowings therein, but subject to the unutilized portion of the Revolving aggregate Available Commitments and the conditions set forth in Section 3.23.02. The Swingline Lender Bank shall furnish the Borrower with a copy of the applicable such Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Regardless of whether the request for such Base Rate Advance complies with Section 2.5, each Each Lender shall make an amount equal to its Applicable Commitment Percentage of the amount specified in such Notice of Borrowing available to the Administrative Agent in Same Day Funds immediately available funds for the account of the Swingline Lender Bank at the Administrative Agent’s Lending Office Account not later than 1:00 p.m. 2:00 PM (New York City time) on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.4(d)(iii)subsection (c)(ii) of this Section, each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Southwestern Electric Power Co)

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