Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the Swingline Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 3 contracts
Samples: Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Credit Agreement
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent Company (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lendersso request on its behalf), that each Revolving Lender make a Base Rate Loan in an amount equal to such Lender’s Applicable Revolving Percentage (determined without regard to any Class or Classes of Revolving Commitments of such Lender) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans Loans, but subject to the Borrower on unutilized portion of the date Revolving Facility and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Company with a copy of the applicable Loan Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to its Applicable Revolving Percentage (determined without regard to any Class or Classes of Revolving Commitments of such Lender) of the amount specified in such Loan Notice available to the Administrative Agent in Same Day Funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender (and Agent’s Office for Dollar-denominated payments not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Lender that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender to the Borrower, and Company in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 3 contracts
Samples: Credit Agreement (Vertex Pharmaceuticals Inc / Ma), Credit Agreement (Vertex Pharmaceuticals Inc / Ma), Credit Agreement (Vertex Pharmaceuticals Inc / Ma)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Parent Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the Swingline Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Parent Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the Parent Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Parent Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Parent Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Parent Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Parent Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Abl Credit Agreement (Clear Channel Outdoor Holdings, Inc.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent and shall deliver to the Lenders) with a copy to the Borrower, request no later than 11:00 a.m. at least one five (15) Business Day in advance Days following the making of a Swingline Loan, on behalf of the proposed Credit Extensionapplicable North American Borrower (which hereby authorizes the Swingline Lender to so request on its behalf until the Termination Date), that each Revolving Lender with an Initial Commitment make an ABR Revolving Loan in Dollars to the US Borrower, a notice Canadian Base Rate Revolving Loan in Dollars to the Canadian Borrower or a Canadian Prime Rate Revolving Loan in Canadian Dollars to the Canadian Borrower, as applicable, in an amount equal to such Lender’s Applicable Percentage of the amount of the applicable Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each requirements of Section 2.03, without regard to the minimum and multiples specified therein for the principal amount of ABR Revolving Credit Lender make Revolving Credit Loans that are Loans, Canadian Base Rate Revolving Loans or Canadian Prime Rate Revolving Loans, as applicable, but subject to the unutilized portion of the Revolving Facility. The Swingline Lender shall furnish the applicable North American Borrower on with a copy of the date of applicable Borrowing Request promptly (and in any case, within five (5) Business Days) after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender with an Initial Commitment shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Borrowing Request available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash collateral available with respect to the applicable Swingline Loans Loan) for the account of the Swingline Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.24(c)(ii), each Initial Revolving Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender in Dollars to the US Borrower, and a Canadian Base Rate Revolving Loan in Dollars to the Canadian Borrower or Canadian Prime Rate Revolving Loan in Canadian Dollars to the Canadian Borrower, as applicable in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Credit Agreement (Hayward Holdings, Inc.), Abl Credit Agreement (Hayward Holdings, Inc.)
Refinancing of Swingline Loans. (i) With respect to any The Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) aboveLender, the Swingline Lender may at any time and from time to time in its sole and absolute discretiondiscretion may, deliver on behalf of the Borrower (which hereby irrevocably directs the Swingline Lender to act on its behalf), on one Business Day’s telephonic notice given by the Swingline Lender no later than 12:00 p.m. and promptly confirmed in writing, request each Revolving Lender to make, and each Revolving Lender hereby agrees to make, a Revolving Loan, in an amount equal to such Revolving Lender’s Applicable Revolving Percentage of the aggregate amount of such Swingline Loan (each a “Refunded Swingline Loan”) outstanding on the date of such notice, to repay the Swingline Lender. Each Revolving Lender shall make the amount of such Revolving Loan available to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrowerin immediately available funds, no not later than 11:00 10:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Borrower on after the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepaynotice. Anything contained in this Agreement to the contrary notwithstanding, (1) the The proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender Loan shall be immediately delivered made available by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made for application by the Swingline Lender to the Borrower, and such portion repayment of the Refunded Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit LoansLoan. If any portion of any such amount paid (or deemed to be paid) to The Borrower irrevocably authorizes the Swingline Lender should be recovered by or on behalf to charge the Borrower’s accounts with the Administrative Agent (up to the amount available in each such account) to immediately pay the amount of any Refunded Swingline Loan to the Borrower extent amounts received from the Revolving Lenders are not sufficient to repay in full such Refunded Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13Loan.
Appears in 2 contracts
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to so request on its behalf), that each Revolving Facility Lender under the Lenders) with a copy Revolving Facility pursuant to the Borrower, no later than 11:00 a.m. at least one (1) Business Day which such Swingline Loan was made make an ABR Revolving Loan in advance an amount equal to such Revolving Facility Lender’s Revolving Facility Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding under such Revolving Facility. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.02, without regard to the Borrowing Minimum and Borrowing Multiples, but subject to the unutilized portion of the Revolving Facility Commitments under such Revolving Facility and the conditions set forth in Section 4.01. The Swingline Lender shall furnish the Borrower on with a copy of the date of applicable Borrowing Request promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Facility Lender shall make an amount equal to its Revolving Facility Percentage under the Revolving Facility pursuant to which such Swingline Loan was made of the amount specified in such Borrowing Request available to the Administrative Agent in Same Day Funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to at the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other Administrative Agent’s Office for Dollar-denominated payments not later than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender time specified in an Incremental Revolving Facility Assumption Agreement (and and, in any event, not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and later than 12:00 p.m. (2Central Time) on the day specified in such Borrowing Request), whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Facility Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the BorrowerBorrower in such amount under such Revolving Facility. Subject to receipt of such funds and subject to the other terms and conditions of this Agreement, and such portion of the Swingline Loans deemed Administrative Agent shall remit the funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Credit Agreement (Vici Properties Inc.), First Lien Credit Agreement (Vici Properties Inc.)
Refinancing of Swingline Loans. (i) With respect to any To the extent a Loan Notice for a Syndicated Loan is not simultaneously delivered with a Loan Notice for a Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) aboveLoan, the Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the applicable Borrower Party (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender Group make a Syndicated Loan in an amount equal to such Lender Group’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, but without regard to the minimum and multiples specified in Section 2.03 for the principal amount of Base Rate Loans (to be automatically converted to a Eurocurrency Rate Loan with a one (1) week Interest Period three (3) days thereafter), but subject to the unutilized portion of the Available Commitment and the applicable conditions set forth in Section 7. Promptly upon receipt of such Loan Notice, the Administrative Agent (which the Administrative will give notice thereof to each Funding Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. by 1:00 p.m. at least one (1) Business Day prior to the date specified in advance such Loan Notice, specifying in such Loan Notice such Lender Group’s Applicable Percentage of such Swingline Loan or Loans, and the Swingline Lender shall furnish the applicable Borrower Party with a copy of the proposed Credit Extensionapplicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each (A) Conduit Lender may, and if a notice Conduit Lender does not, each Committed Lender in such Conduit Lender’s Lender Group shall, and (which B) each Committed Lender in a Lender Group without a Conduit Lender shall, upon receipt of such Loan Notice, make an amount equal to its Lender Group’s Applicable Percentage (or, in the case of a Committed Lender, its Applicable Percentage) of the amount specified in such Loan Notice available (including for this purpose Cash Collateral and other credit support made available with respect to the applicable Swingline Loan) to the Administrative Agent in immediately available funds for the account of the Swingline Lender not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.07(c)(ii), each Lender that so makes funds available shall be deemed to be have made a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans Loan to the applicable Borrower on the date of Party in such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepayamount. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the The Administrative Agent shall remit the funds so received to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Revolving Credit Agreement (TCW Direct Lending VII LLC), Credit Agreement (TCW Direct Lending VII LLC)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may, deliver to and in any event on the Administrative Agent 10th Business Day after such Swingline Loan is made, shall request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Lender make a copy Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the proposed Credit Extensionamount of Swingline Loans then outstanding or, in the case of any request given with respect to Swingline Loans which have been outstanding for 10 Business Days, the amount of such outstanding Swingline Loans; provided, that such Loans may, and upon the applicable Borrower’s request shall, be made as Eurocurrency Rate Loans if a notice Eurocurrency Rate Loan could otherwise be made pursuant to Section 2.02. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Borrowing Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans or Eurocurrency Rate Loans, but subject to the unutilized portion of the aggregate Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the applicable Borrower on with a copy of the date of applicable Borrowing Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Borrowing Notice available to the Administrative Agent in immediately available funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender Agent’s Office not later than 1:00 p.m. (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2New York City time) on the day specified in such Revolving Credit Loans are madeBorrowing Notice, the whereupon, subject to Section 2.05(c)(ii), each Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Lender that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender (or Eurocurrency Rate Loan, if applicable) to the Borrower, and applicable Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Asset Based Revolving Credit Agreement (Warrior Met Coal, Inc.), Asset Based Revolving Credit Agreement (Warrior Met Coal, LLC)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent and shall deliver to the Lenders) with a copy to the Borrower, request no later than 11:00 a.m. at least one (1) five Business Day in advance Days following the making of a Swingline Loan, on behalf of the proposed Credit Extension, a notice US Borrower (which hereby authorizes the Swingline Lender to so request on its behalf until the Termination Date), that each Revolving Lender with an Initial US Commitment make an ABR Revolving Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.03, without regard to the minimum and multiples specified therein for the principal amount of ABR Revolving Loans, but subject to the unutilized portion of the Revolving Facility. The Swingline Lender shall furnish the US Borrower on with a copy of the date of applicable Borrowing Request promptly (and in any case, within 5 Business Days) after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender with an Initial US Commitment shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Borrowing Request available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash collateral available with respect to the applicable Swingline Loans Loan) for the account of the Swingline Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.24(c)(ii), each Revolving Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the Borrower, and US Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Security Agreement (Hayward Holdings, Inc.), Security Agreement (Hayward Holdings, Inc.)
Refinancing of Swingline Loans. (i) With respect to any The Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the Swingline Lender may Bank at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent U.S. Borrowers (which hereby irrevocably authorize the Administrative Agent shall deliver Swingline Bank to the Lenders) with so request on its behalf), that each Revolving Bank make a copy Revolving Loan that is a Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Revolving Bank’s Revolving Commitment Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Notice of Loan Notice given by Borrowing for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.2, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans Loans, but subject to the conditions set forth in Section 5.2 (other than the delivery of a Notice of Loan Borrowing) and provided that, after giving effect to such Borrowing, the Outstanding Amount of Revolving Obligations shall not exceed the Aggregate Revolving Committed Amount. The Swingline Bank shall furnish the Borrower on Representative with a copy of the date applicable Notice of Loan Borrowing promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Bank shall make an amount equal to its Revolving Commitment Percentage of the amount specified in such Notice of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders Loan Borrowing available to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent in Same Day Funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Lender (and not to Loan) for the Borrower) and applied to repay a corresponding portion account of the applicable Refunded Swingline Loans and (2) Bank at the Administrative Agent’s Office for Dollar-denominated payments not later than 1:00 p.m. on the day specified in such Notice of Loan Borrowing, whereupon, subject to Section 2.7(a)(ii), each Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Bank that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Loan made by the Swingline Lender that is a Base Rate Loan to the Borrower, and applicable U.S. Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed to be funds so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) received to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13Bank.
Appears in 2 contracts
Samples: Credit Agreement (Owens & Minor Inc/Va/), Credit Agreement (Owens & Minor Inc/Va/)
Refinancing of Swingline Loans. (i) With respect to any If a Swingline Loans which have Loan has not been voluntarily prepaid by repaid within five (5) Business Days of the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) abovedate of incurrence thereof, the Swingline Lender may at any time shall request, on behalf of the Borrower (and the Borrower hereby irrevocably requests and authorizes the Swingline Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan in its sole and absolute discretion, deliver an amount equal to such Lender’s Pro Rata Share of the Administrative Agent amount of Swingline Loans then outstanding. Such request shall be made in writing (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which written request shall be deemed to be a Committed Loan Notice given by for purposes hereof) and in accordance with the Borrowerrequirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice); provided that, after giving effect to such Loan, the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility. The Swingline Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Pro Rata Share of the amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) requesting that for the account of the Swingline Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender to the Borrower, and Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: First Lien Credit Agreement (Keyw Holding Corp), Credit Agreement (Keyw Holding Corp)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may, deliver to and in any event on the Administrative Agent seventh calendar day after such Swingline Loan is made, shall request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Lender make a copy Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the proposed Credit Extensionamount of Swingline Loans then outstanding or, in the case of any request given with respect to Swingline Loans which have been outstanding for seven calendar days, the amount of such outstanding Swingline Loans; provided that such Loans may, and upon the applicable Borrower’s request shall, be made as Eurocurrency Rate Loans if a notice Eurocurrency Rate Loan could otherwise be made pursuant to Section 2.02. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Borrowing Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans or Eurocurrency Rate Loans, but subject to the unutilized portion of the aggregate Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the applicable Borrower on with a copy of the date of applicable Borrowing Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Borrowing Notice available to the Administrative Agent in immediately available funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender Agent’s Office not later than 1:00 p.m. (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2New York City time) on the day specified in such Revolving Credit Loans are madeBorrowing Notice, the whereupon, subject to Section 2.05(c)(ii), each Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Lender that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender (or Eurocurrency Rate Loan, if applicable) to the Borrower, and applicable Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Asset Based Revolving Credit Agreement (Contura Energy, Inc.), Asset Based Revolving Credit Agreement (Contura Energy, Inc.)
Refinancing of Swingline Loans. (i) With respect to any To the extent a Loan Notice for a Syndicated Loan is not simultaneously delivered with a Loan Notice for a Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) aboveLoan, the Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the applicable Borrower Party (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender Group make a Syndicated Loan in an amount equal to such Lender Group’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, but without regard to the minimum and multiples specified in Section 2.03 for the principal amount of Base Rate Loans (to be automatically converted to a Eurocurrency Rate Loan with a one (1) month Interest Period three (3) days thereafter), but subject to the unutilized portion of the Available Commitment and the applicable conditions set forth in Section 7. Promptly upon receipt of such Loan Notice, the Administrative Agent (which the Administrative will give notice thereof to each Funding Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. by 1:00 p.m. at least one (1) Business Day prior to the date specified in advance such Loan Notice, specifying in such Loan Notice such Lender Group’s Applicable Percentage of such Swingline Loan or Loans, and the Swingline Lender shall furnish the applicable Borrower Party with a copy of the proposed Credit Extensionapplicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each (A) Conduit Lender may, and if a notice Conduit Lender does not, each Committed Lender in such Conduit Lender’s Lender Group shall, and (which B) each Committed Lender in a Lender Group without a Conduit Lender shall, upon receipt of such Loan Notice, make an amount equal to its Lender Group’s Applicable Percentage (or, in the case of a Committed Lender, its Applicable Percentage) of the amount specified in such Loan Notice available (including for this purpose Cash Collateral and other credit support made available with respect to the applicable Swingline Loan) to the Administrative Agent in immediately available funds for the account of the Swingline Lender not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.07(c)(ii), each Lender that so makes funds available shall be deemed to be have made a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans Loan to the applicable Borrower on the date of Party in such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepayamount. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the The Administrative Agent shall remit the funds so received to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Revolving Credit Agreement (TCW Direct Lending LLC), Revolving Credit Agreement (TCW Direct Lending LLC)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the Swingline Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans under the Initial Revolving Credit Facility and the 2023 Extended Revolving Credit Facility on a pro rata basis that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 2 contracts
Samples: Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Credit Agreement (Clear Channel Outdoor Holdings, Inc.)
Refinancing of Swingline Loans. (i) With respect to any To the extent a Loan Notice for a Syndicated Loan is not simultaneously delivered with a Loan Notice for a Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) aboveLoan, the Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the applicable Borrower Party (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender Group make a Syndicated Loan in an amount equal to such Lender Group’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, but without regard to the minimum and multiples specified in Section 2.03 for the principal amount of Base Rate Loans (to be automatically converted to a Term SOFR Loan with a one (1) month Interest Period three (3) days thereafter), but subject to the unutilized portion of the Available Commitment and the applicable conditions set forth in Article 7. Promptly upon receipt of such Loan Notice, the Administrative Agent (which the Administrative will give notice thereof to each Funding Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. by 1:00 p.m. at least one (1) Business Day prior to the date specified in advance such Loan Notice, specifying in such Loan Notice such Lender Group’s Applicable Percentage of such Swingline Loan or Loans, and the Swingline Lender shall furnish the applicable Borrower Party with a copy of the proposed Credit Extensionapplicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each (A) Conduit Lender may, and if a notice Conduit Lender does not, each Committed Lender in such Conduit Lender’s Lender Group shall, and (which B) each Committed Lender in a Lender Group without a Conduit Lender shall, upon receipt of such Loan Notice, make an amount equal to its Lender Group’s Applicable Percentage (or, in the case of a Committed Lender, its Applicable Percentage) of the amount specified in such Loan Notice available (including for this purpose Cash Collateral and other credit support made available with respect to the applicable Swingline Loan) to the Administrative Agent in Same Day Funds for the account of the Swingline Lender not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.07(c)(ii), each Lender that so makes funds available shall be deemed to be have made a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans Loan to the applicable Borrower on the date of Party in such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepayamount. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the The Administrative Agent shall remit the funds so received to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Revolving Credit Agreement (TCW Direct Lending LLC)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may, deliver to and in any event on the Administrative Agent seventh calendar day after such Swingline Loan is made, shall request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Lender make a copy Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the proposed Credit Extensionamount of Swingline Loans then outstanding or, in the case of any request given with respect to Swingline Loans which have been outstanding for seven (7) calendar days, the amount of such outstanding Swingline Loans; provided, that such Loans may, and upon the applicable Borrower’s request shall, be made as Eurocurrency Rate Loans if a notice Eurocurrency Rate Loan could otherwise be made pursuant to Section 2.02. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Borrowing Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans or Eurocurrency Rate Loans, but subject to the unutilized portion of the aggregate Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the applicable Borrower on with a copy of the date of applicable Borrowing Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Borrowing Notice available to the Administrative Agent in immediately available funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender Agent’s Office not later than 1:00 p.m. (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2New York City time) on the day specified in such Revolving Credit Loans are madeBorrowing Notice, the whereupon, subject to Section 2.05(c)(ii), each Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Lender that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender (or Eurocurrency Rate Loan, if applicable) to the Borrower, and applicable Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Asset Based Revolving Credit Agreement (Contura Energy, Inc.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the Swingline Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.. (ii) If for any reason any Swingline Loan cannot be refinanced by such a Revolving Credit Borrowing in accordance with Section 2.04(c)(i) in an amount sufficient to repay any amounts owed to the Swingline Lender in respect of any outstanding Swingline Loans on or before the third Business Day after demand for payment thereof by the Swingline Lender, each of the Revolving Credit Lenders shall be deemed to have purchased, and hereby agrees to purchase, a participation in such outstanding Swingline Loans in an amount equal to its Applicable Percentage of the applicable unpaid amount together with accrued interest thereon. Upon one (1) Business Days’ notice from the Swingline Lender, each Revolving Credit Lender shall deliver to the Swingline Lender an amount equal to its respective participation in the applicable unpaid amount in same day funds at the Principal Office of the Swingline Lender. In order to evidence such participation, each such Revolving Credit Xxxxxx agrees to enter into a participation agreement at the request of the Swingline Lender in form and substance reasonably satisfactory to the Swingline Lender. (iii) If any Revolving Credit Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required to be paid by such Revolving Credit Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(ii), the Swingline Lender shall be entitled to recover from such Revolving Credit Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swingline Lender at a rate per annum equal to the greater of the Federal Funds Rate from time to time in effect and a rate determined by the Swingline Lender in accordance with banking industry rules on interbank compensation, plus any reasonable administrative, processing or similar fees customarily charged by such Swingline Lender in connection with the foregoing. If such Revolving Credit Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Credit Loan included in the relevant Revolving Credit Borrowing or funded participation in the relevant Swingline Loan, as the case may be. A certificate of a Swingline Lender submitted to any Revolving Credit Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error. (iv) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or to purchase and fund participations in Swingline Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swingline Lender, the Borrower or any other Person 84
Appears in 1 contract
Samples: Credit Agreement (Clear Channel Outdoor Holdings, Inc.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent Borrowers (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with a copy so request on its behalf), that each Revolving Lender make an ABR Revolving Loan in Dollars in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the amount of Swingline Loans then outstanding (or any portion thereof proposed Credit Extension, a notice to be refinanced as an ABR Revolving Loan). Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of ABR Loans. The Swingline Lender shall furnish the Lead Borrower on the date with a copy of such Credit Extension in Committed Loan Notice promptly after delivery thereof to the Administrative Agent or the Revolving Lenders. Each Revolving Lender shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available funds in Dollars for the account of the Swingline Lender at the Administrative Agent’s Payment Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.03(c)(ii), each Revolving Lender that so makes funds available shall be deemed to have made an ABR Revolving Loan to the Borrowers in such amount and the Swingline Loans shall be deemed to be paid with have been repaid in such amount. The Administrative Agent shall remit the proceeds of a Revolving Credit Loan made by the Swingline Lender funds so received to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Refinancing of Swingline Loans. (i) With respect to any To the extent a Loan Notice for a Syndicated Loan is not simultaneously delivered with a Loan Notice for a Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) aboveLoan, the Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the applicable Borrower Party (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender Group make a Syndicated Loan in an amount equal to such Lender Group’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, but without regard to the minimum and multiples specified in Section 2.03 for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Available Commitment and the applicable conditions set forth in Section 7. Promptly upon receipt of such Loan Notice, the Administrative Agent (which the Administrative will give notice thereof to each Funding Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. by 1:00 p.m. at least one (1) Business Day prior to the date specified in advance such Loan Notice, specifying in such Loan Notice such Lender Group’s Applicable Percentage of such Swingline Loan or Loans, and the Swingline Lender shall furnish the applicable Borrower Party with a copy of the proposed Credit Extensionapplicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each (A) Conduit Lender may, and if a notice Conduit Lender does not, each Committed Lender in such Conduit Lender’s Lender Group shall, and (which B) each Committed Lender in a Lender Group without a Conduit Lender shall, upon receipt of such Loan Notice, make an amount equal to its Lender Group’s Applicable Percentage (or, in the case of a Committed Lender, its Applicable Percentage) of the amount specified in such Loan Notice available (including for this purpose Cash Collateral and other credit support made available with respect to the applicable Swingline Loan) to the Administrative Agent in immediately available funds for the account of the Swingline Lender not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.07(c)(ii), each Lender that so makes funds available shall be deemed to be have made a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans Loan to the applicable Borrower on the date of Party in such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepayamount. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the The Administrative Agent shall remit the funds so received to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Revolving Credit Agreement (TCW Direct Lending VIII LLC)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may, deliver to and in any event on the Administrative Agent 10th Business Day after such Swingline Loan is made, shall request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Lender make a copy Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the proposed Credit Extensionamount of Swingline Loans then outstanding or, in the case of any request given with respect to Swingline Loans which have been outstanding for 10 Business Days, the amount of such outstanding Swingline Loans; provided, that such Loans may, and upon the applicable Borrower’s request shall, be made as SOFR Loans if a notice SOFR Loan could otherwise be made pursuant to Section 2.02. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Borrowing Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans or SOFR Loans, but subject to the unutilized portion of the aggregate Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the applicable Borrower on with a copy of the date of applicable Borrowing Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Borrowing Notice available to the Administrative Agent in immediately available funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender Agent’s Office not later than 1:00 p.m. (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2New York City time) on the day specified in such Revolving Credit Loans are madeBorrowing Notice, the whereupon, subject to Section 2.05(c)(ii), each Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Lender that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender (or SOFR Loan, if applicable) to the Borrower, and applicable Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Revolving Credit Agreement (Warrior Met Coal, Inc.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the Borrowers (each of which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Incremental Revolving Facility Lender make an ABR Incremental Revolving Loan in an amount equal to such Incremental Revolving Facility Lender’s Incremental Revolving Facility Percentage of the Administrative Agent amount of Swingline Loans then outstanding. Such request shall be made in writing (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.02, without regard to the Borrower on Borrowing Minimum and Borrowing Multiples, but subject to the date unutilized portion of the Incremental Revolving Facility Commitments and the conditions set forth in Section 4.01. The Swingline Lender shall furnish the Borrowers with a copy of the applicable Borrowing Request promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Incremental Revolving Facility Lender shall make an amount equal to its Incremental Revolving Facility Percentage of the amount specified in such Borrowing Request available to the Administrative Agent in Same Day Funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender (and Agent’s Office for Dollar-denominated payments not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.04(c)(ii), each Incremental Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Facility Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Incremental Revolving Credit Loan made by the Swingline Lender to the Borrower, and Borrowers in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Disbursement Agreement (CAESARS ENTERTAINMENT Corp)
Refinancing of Swingline Loans. (i) With respect to any If a Swingline Loans which have Loan has not been voluntarily prepaid by repaid within five Business Days of the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) abovedate of incurrence thereof, the Swingline Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrowerrequest, no later than 11:00 a.m. at least one (1) Business Day in advance on behalf of the proposed Borrower (and the Borrower hereby irrevocably requests and authorizes the Administrative Agent to so request on its behalf), that each Revolving Credit ExtensionLender make a Base Rate Loan or Canadian Prime Rate Loan, a notice as applicable, in an amount equal to such Lender’s Pro Rata Share of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by for purposes hereof) and in accordance with the Borrowerrequirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans Canadian Prime Rate Loans, as applicable, but subject to the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice); provided that, after giving effect to such Loan, the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility. The Swingline Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Pro Rata Share of the amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available funds in the relevant currency (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) requesting that for the account of the Swingline Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender to the Borrower, and Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Credit Agreement (DHX Media Ltd.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent and shall deliver to the Lenders) with a copy to the Borrower, request no later than 11:00 a.m. at least one (1) five Business Day in advance Days following the making of a Swingline Loan, on behalf of the proposed Credit Extension, a notice applicable US Borrower (which hereby authorizes the Swingline Lender to so request on its behalf until the Termination Date), that each Revolving Lender with an Initial US Commitment make an ABR Revolving Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.03, without regard to the minimum and multiples specified therein for the principal amount of ABR Revolving Loans, but subject to the unutilized portion of the Revolving Facility. The Swingline Lender shall furnish the applicable US Borrower on with a copy of the date of applicable Borrowing Request promptly (and in any case, within 5 Business Days) after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender with an Initial US Commitment shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Borrowing Request available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash collateral available with respect to the applicable Swingline Loans Loan) for the account of the Swingline Lender at the Administrative Agent’s office not later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.24(c)(ii), each Revolving Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the Borrower, and applicable US Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Revolving Lender make a copy Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Revolving Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans Loans, but subject to the unutilized portion of the Revolving Facility and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Borrower on with a copy of the date of applicable Loan Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to its Applicable Revolving Percentage of the amount specified in such Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to prepaySection 2.04(c)(ii), each Revolving Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. Anything contained in this Agreement The Administrative Agent shall remit the funds so received to the Swingline Lender. (ii) Notwithstanding anything to the contrary notwithstandingin the foregoing, if for any reason any Swingline Loan cannot be refinanced by such a Revolving Borrowing in accordance with Section 2.04(c)(i) (1including, without limitation, the failure to satisfy the conditions set forth in Section 4.02), the request for Base Rate Loans submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline Lender that each of the Revolving Lenders fund its risk participation in the relevant Swingline Loan and each Revolving Lender’s payment to the Administrative Agent for the account of Swingline Lender pursuant to Section 2.04(c)(i) the proceeds shall be deemed payment in respect of such participation. (iii) If any Revolving Credit Loans made Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the Lenders other than time specified in Section 2.04(c)(i), the Swingline Lender shall be immediately delivered by entitled to recover from such Lender (acting through the Administrative Agent Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swingline Lender (and not at a rate per annum equal to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.greater
Appears in 1 contract
Samples: Credit Agreement (Alamo Group Inc)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the US Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the Swingline Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the US Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the US Borrower) requesting that each US Revolving Credit Lender make US Revolving Credit Loans that are Base Rate Loans to the US Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such US Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the US Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such US Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a US Revolving Credit Loan made by the Swingline Lender to the US Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding US Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the US Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all US Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Credit Agreement (W R Grace & Co)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may, deliver to and in any event on the Administrative Agent seventh calendar day after such Swingline Loan is made, shall request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Lender make a copy Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the proposed Credit Extensionamount of Swingline Loans then outstanding or, in the case of any request given with respect to Swingline Loans which have been outstanding for seven (7) calendar days, the amount of such outstanding Swingline Loans; provided, that such Loans may, and upon the applicable Borrower’s request shall, be made as SOFR Loans if a notice SOFR Loan could otherwise be made pursuant to Section 2.02. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Borrowing Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans or SOFR Loans, but subject to the unutilized portion of the aggregate Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the applicable Borrower on with a copy of the date of applicable Borrowing Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Borrowing Notice available to the Administrative Agent in immediately available funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender Agent’s Office not later than 1:00 p.m. (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2New York City time) on the day specified in such Revolving Credit Loans are madeBorrowing Notice, the whereupon, subject to Section 2.05(c)(ii), each Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Lender that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Loan made by the Swingline Lender (or SOFR Loan, if applicable) to the Borrower, and applicable Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Based Revolving Credit Agreement (Alpha Metallurgical Resources, Inc.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the ARTICLE XCIII The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from (which hereby irrevocably authorizes the Swingline Lender in bankruptcyto so request on its CHAR1\1806478v11CHAR1\1928004v5 BEHALF), by assignment THAT EACH REVOLVING LENDER MAKE A BASE RATE LOAN IN AN AMOUNT EQUAL TO SUCH XXXXXX’S APPLICABLE PERCENTAGE OF THE AMOUNT OF SWINGLINE LOANS THEN OUTSTANDING. SUCH REQUEST SHALL BE MADE IN WRITING (WHICH WRITTEN REQUEST SHALL BE DEEMED TO BE A LOAN NOTICE FOR PURPOSES HEREOF) AND IN ACCORDANCE WITH THE REQUIREMENTS OF Section 2.02, without regard to the minimum and multiples specified therein for the benefit principal amount of creditors or otherwiseBase Rate Loans, but subject to the loss unutilized portion of the Revolving Facility and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Borrower with a copy of the applicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Loan Notice available to the Administrative Agent in Same Day Funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) for the account of the Swingline Lender at the Administrative Agent’s Office for Dollar-denominated payments not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Lender that so recovered makes funds available shall be ratably shared among all Revolving Credit Lenders deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the manner contemplated by Section 2.13funds so received to the Swingline Lender.
Appears in 1 contract
Samples: Credit Agreement (Parsons Corp)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Revolving Lender make a copy Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Revolving Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans Loans, but subject to the unutilized portion of the Revolving Facility and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Borrower on with a copy of the date of applicable Loan Notice promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to its Applicable Revolving Percentage of the amount specified in such Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to prepaySection 2.04(c)(ii), each Revolving Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. Anything contained in this Agreement The Administrative Agent shall remit the funds so received to the Swingline Lender. (ii) Notwithstanding anything to the contrary notwithstandingin the foregoing, if for any reason any Swingline Loan cannot be refinanced by such a Revolving Borrowing in accordance with Section 2.04(c)(i) (1including, without limitation, the failure to satisfy the conditions set forth in Section 4.02), the request for Base Rate Loans submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline Lender that each of the Revolving Lenders fund its risk participation in the relevant Swingline Loan and each Revolving Lender’s payment to the Administrative Agent for the account of the Swingline Lender pursuant to Section 2.04(c)(i) the proceeds shall be deemed payment in respect of such participation. (iii) If any Revolving Credit Loans made Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the Lenders other than time specified in Section 2.04(c)(i), the Swingline Lender shall be immediately delivered by entitled to recover from such Lender (acting through the Administrative Agent Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swingline Lender (and not at a rate per annum equal to the Borrower) and applied applicable Overnight Rate from time to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are madetime in effect, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made plus any administrative, processing or similar fees customarily charged by the Swingline Lender to in connection with the Borrowerforegoing. If such Lender pays such amount (with interest and fees as aforesaid), and the amount so paid shall constitute such portion Lender’s Revolving Loan included in the relevant Revolving Borrowing or funded participation in the relevant Swingline Loan, as the case may be. A certificate of the Swingline Loans deemed Lender submitted to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of any Lender (through the Swingline Lender’s outstanding Revolving Credit Loans. If Administrative Agent) with respect to any portion of any such amount paid amounts owing under this clause (or deemed to be paidc)(iii) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13conclusive absent manifest error.
Appears in 1 contract
Samples: Credit Agreement (Ameresco, Inc.)
Refinancing of Swingline Loans. (i1) With respect The Company agrees to any repay all Swingline Loans which have not been voluntarily prepaid within four Business Days of demand therefor by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, Swingline Lender. Any such demand by the Swingline Lender may at any time shall be in its sole and absolute discretion. If the Company fails to repay the Swingline Loans within four Business Days of demand therefor, deliver to the Administrative Agent Swingline Lender shall request, on behalf of the Company (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Lender make a copy Base Rate Committed Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans Loans, but subject to the Borrower on unutilized portion of the date Aggregate Commitments and the conditions set forth in Section 5.02. The Swingline Lender shall furnish the Company with a copy of the applicable Committed Loan Notice concurrently with delivering such Credit Extension in notice to the Administrative Agent. Each Lender shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Committed Loan Notice available to the Administrative Agent in Same Day Funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loans Loan) for the account of the Swingline Lender at the Administrative Agent’s Office for Dollar-denominated payments not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(2), each Lender that so makes funds available shall be deemed to be paid with the proceeds of have made a Revolving Credit Base Rate Committed Loan made by the Swingline Lender to the Borrower, and Company in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent and shall deliver to the Lenders) with a copy to the Borrower, request no later than 11:00 a.m. at least one five (15) Business Day in advance Days following the making of a Swingline Loan, on behalf of the proposed Credit Extension, a notice applicable US Borrower (which hereby authorizes the Swingline Lender to so request on its behalf until the Termination Date), that each Revolving Lender with an Initial US Commitment make an ABR Revolving Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.03, without regard to the minimum and multiples specified therein for the principal amount of ABR Revolving Loans, but subject to the unutilized portion of the Revolving Facility. The Swingline Lender shall furnish the applicable US Borrower on with a copy of the date of applicable Borrowing Request promptly (and in any case, within five (5) Business Days) after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender with an Initial US Commitment shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Borrowing Request available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash collateral available with respect to the applicable Swingline Loans Loan) for the account of the Swingline Lender at the Administrative Agent’s office not later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.24(c)(ii), each Revolving Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the Borrower, and applicable US Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (Hillman Solutions Corp.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent and shall deliver to the Lenders) with a copy to the Borrower, request no later than 11:00 a.m. at least one (1) five Business Day in advance Days following the making of a Swingline Loan, on behalf of the proposed Credit Extension, a notice US Borrower (which hereby authorizes the Swingline Lender to so request on its behalf until the Termination Date), that each Revolving Lender with an Initial US Commitment make an ABR Revolving Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.03, without regard to the minimum and multiples specified therein for the principal amount of ABR Revolving Loans, but subject to the unutilized portion of the Revolving Facility. The Swingline Lender shall furnish the US Borrower on with a copy of the date of applicable Borrowing Request promptly (and in any case, within 5 Business Days) after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender with an Initial US Commitment shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Borrowing Request available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash collateral available with respect to the applicable Swingline Loans Loan) for the account of the Swingline Lender at the Administrative Agent’s office not later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.24(c)(ii), each Revolving Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the Borrower, and US Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent applicable Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to so request on its behalf), that each Revolving Facility Lender under the Lenders) with a copy Revolving Facility pursuant to the Borrower, no later than 11:00 a.m. at least one (1) Business Day which such Swingline Loan was made make an ABR Revolving Loan in advance an amount equal to such Revolving Facility Lender’s Revolving Facility Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding under such Revolving Facility. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.02, without regard to the Borrowing Minimum and Borrowing Multiples, but subject to the unutilized portion of the Revolving Facility Commitments under such Revolving Facility and the conditions set forth in Section 4.01. The Swingline Lender shall furnish the applicable Borrower on with a copy of the date of applicable Borrowing Request promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Facility Lender with a Revolving Facility Commitment under the applicable Revolving Facility shall make an amount equal to its Revolving Facility Percentage under the Revolving Facility pursuant to which such Swingline Loan was made of the amount specified in such Borrowing Request available to the Administrative Agent in Same Day Funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender (and Agent’s Office for Dollar-denominated payments not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Facility Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the Borrower, and applicable Borrower in such portion of amount under such Revolving Facility. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: First Lien Credit Agreement (CAESARS ENTERTAINMENT Corp)
Refinancing of Swingline Loans. (ivi) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the Swingline Lender may at any time in its sole and absolute discretion, deliver to the NY\6127033.17 Administrative Agent (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which shall be deemed to be a Committed Loan Notice given by the Borrower) requesting that each U.S. Revolving Credit Lender make U.S. Revolving Credit Loans that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such U.S. Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such U.S. Revolving Credit Loans are made, the Swingline Lender’s Applicable U.S. Revolving Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a U.S. Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding U.S. Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all U.S. Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Security Agreement (W R Grace & Co)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent and shall deliver to the Lenders) with a copy to the Borrower, request no later than 11:00 a.m. at least one five (15) Business Day in advance Days following the making of a Swingline Loan, on behalf of the proposed Credit Extensionapplicable North American Borrower (which hereby authorizes the Swingline Lender to so request on its behalf until the Termination Date), that each Revolving Lender with an Initial Commitment make an ABR Revolving Loan in Dollars to the US Borrower, a notice Canadian Base Rate Revolving Loan in Dollars to the Canadian Borrower or a Canadian Prime Rate Revolving Loan in Canadian Dollars to the Canadian Borrower, as applicable, in an amount equal to such Lender’s Applicable Percentage of the amount of the applicable Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each requirements of Section 2.03, without regard to the minimum and multiples specified therein for the principal amount of ABR Revolving Credit Lender make Revolving Credit Loans that are Loans, Canadian Base Rate Revolving Loans or Canadian Prime Rate Revolving Loans, as applicable, but subject to the unutilized portion of the Revolving Facility. The Swingline Lender shall furnish the applicable North American Borrower on with a copy of the date of applicable Borrowing Request promptly (and in any case, within five (5) Business Days) after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender with an Initial Commitment shall make an amount equal to its Applicable Percentage of the amount specified in such Borrowing Request available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash collateral available with respect to the applicable Swingline Loan) for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to prepay. Anything contained Section 2.24(c)(ii), each Initial Revolving Lender that so makes funds available shall be deemed to have made an ABR Revolving Loan in this Agreement Dollars to the contrary notwithstandingUS Borrower, (1a Canadian Base Rate Revolving Loan in Dollars to the Canadian Borrower or Canadian Prime Rate Revolving Loan in Canadian Dollars to the Canadian Borrower, as applicable in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender. If for any reason any Swingline Loan cannot be refinanced by such a Revolving Loan in accordance with Section 2.24(c), the request for ABR Revolving Loans, Canadian Base Rate Revolving Loans or Canadian Prime Rate Revolving Loans, as applicable, submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline Lender that each of the Initial Revolving Lenders with an Initial Commitment fund its risk participation in the relevant Swingline Loan and each Initial Revolving Lender’s payment to the Administrative Agent for the account of the Swingline Lender pursuant to this Section 2.24(c)(i) the proceeds shall be deemed payment in respect of such participation. If any Initial Revolving Credit Loans made Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.24 by the Lenders other than time specified in Section 2.24(c), the Swingline Lender shall be entitled to recover from such Revolving Lender (acting 129379097_5 #96094974v22 133208524_1 through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately delivered available to the Swingline Lender at a rate per annum equal to the greater of the Federal Funds Effective Rate from time to time in effect and a rate determined by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) in accordance with banking industry rules on the day such Revolving Credit Loans are madeinterbank compensation, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made plus any administrative, processing or similar fees customarily charged by the Swingline Lender to in connection with the Borrowerforegoing. If such Lender pays such amount (with interest and fees as aforesaid), and the amount so paid shall constitute such portion Xxxxxx’s committed Revolving Loan included in the relevant committed Borrowing or funded participation in the relevant Swingline Loan, as the case may be. A certificate of the Swingline Lender submitted to any Initial Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.24(c)(ii) shall be conclusive absent manifest error. Each Initial Revolving Lender acknowledges and agrees that its obligation to make Revolving Loans deemed or to be so paid shall no longer be outstanding as purchase and fund risk participations in Swingline Loans but pursuant to this Section 2.24 is absolute and unconditional and shall instead constitute part not be affected by any circumstance whatsoever, including (A) the occurrence and continuance of a Default, (B) any reduction or termination of the Commitments, (C) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swingline Lender’s outstanding Revolving Credit Loans. If , the US Borrower, the Canadian Borrower or any portion of other Person for any such amount paid reason whatsoever, or (D) any other occurrence, event or deemed condition, whether or not similar to be paid) to the Swingline Lender should be recovered by or on behalf any of the Borrower from foregoing. No such funding of risk participations shall relieve or otherwise impair the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss obligation of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in US Borrower or the manner contemplated by Section 2.13Canadian Borrower, as applicable, to repay Swingline Loans, together with interest as provided herein.
Appears in 1 contract
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to the Administrative Agent (which the Administrative Agent and shall deliver to the Lenders) with a copy to the Borrower, request no later than 11:00 a.m. at least one five (15) Business Day in advance Days following the making of a Swingline Loan, on behalf of the proposed Credit Extension, a notice US Borrower (which hereby authorizes the Swingline Lender to so request on its behalf until the Termination Date), that each Revolving Lender with an Initial US Commitment make an ABR Revolving Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.03, without regard to the minimum and multiples specified therein for the principal amount of ABR Revolving Loans, but subject to the unutilized portion of the Revolving Facility. The Swingline Lender shall furnish the US Borrower on with a copy of the date of applicable Borrowing Request promptly (and in any case, within five (5) Business Days) after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Lender with an Initial US Commitment shall make an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the Administrative Agent to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s its Applicable Percentage of the Refunded amount specified in such Borrowing Request available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash collateral available with respect to the applicable Swingline Loans Loan) for the account of the Swingline Lender at the Administrative Agent’s office not later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.24(c)(ii), each Revolving Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the Borrower, and US Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
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Refinancing of Swingline Loans. (i) With respect to any To the extent a Loan Notice for a Syndicated Loan is not simultaneously delivered with a Loan Notice for a Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) aboveLoan, the Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the applicable Borrower Party (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender Group make a Syndicated Loan in an amount equal to such Lender Group’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, but without regard to the minimum and multiples specified in Section 2.03 for the principal amount of Base Rate Loans (to be automatically converted to a Term SOFR Loan with a one (1) month Interest Period three (3) days thereafter), but subject to the unutilized portion of the Available Commitment and the applicable conditions set forth in Article 7. Promptly upon receipt of such Loan Notice, the Administrative Agent (which the Administrative will give notice thereof to each Funding Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. by 1:00 p.m. at least one (1) Business Day prior to the date specified in advance such Loan Notice, specifying in such Loan Notice such Lender Group’s Applicable Percentage of such Swingline Loan or Loans, and the Swingline Lender shall furnish the applicable Borrower Party with a copy of the proposed Credit Extensionapplicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each (A) Conduit Lender may, and if a notice Conduit Lender does not, each Committed Lender in such Conduit Lender’s Lender Group shall, and (which B) each Committed Lender in a Lender Group without a Conduit Lender shall, upon receipt of such Loan Notice, make an amount equal to its Lender Group’s Applicable Percentage (or, in the case of a Committed Lender, its Applicable Percentage) of the amount specified in such Loan Notice available (including for this purpose Cash Collateral and other credit support made available with respect to the applicable Swingline Loan) to the Administrative Agent in Same Day Funds for the account of the Swingline Lender not later than 1:00 p.m. on the day specified in such 4857-3757-1665 v.17 45 Loan Notice, whereupon, subject to Section 2.07(c)(ii), each Lender that so makes funds available shall be deemed to be have made a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans Loan to the applicable Borrower on the date of Party in such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepayamount. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the The Administrative Agent shall remit the funds so received to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Revolving Credit Agreement (TCW Direct Lending LLC)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to the Lenders) with so request on its behalf), that each Lender make a copy Revolving Loan that is a Base Rate Loan in an amount equal to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance such Lender’s Applicable Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate Revolving Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Borrower with a copy of the applicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) for the account of the Swingline Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Revolving Loan that is a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender. (ii) If for any reason any Swingline Loan cannot be refinanced by such a Borrowing of Revolving Loans in accordance with Section 2.04(c)(i), the Borrower) requesting that each request for Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans to the Borrower on the date of such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which submitted by the Swingline Lender requests as set forth herein shall be deemed to be a request by the Swingline Lender that each of the Lenders to prepay. Anything contained fund its risk participation in this Agreement the relevant Swingline Loan and each Lender’s payment to the contrary notwithstanding, (1Administrative Agent for the account of the Swingline Lender pursuant to Section 2.04(c)(i) the proceeds shall be deemed payment in respect of such Revolving Credit Loans made participation. (iii) If any Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the Lenders other than time specified in Section 2.04(c)(i), the Swingline Lender shall be immediately delivered by the Administrative Agent entitled to the Swingline recover from such Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.acting 45 CHAR1\1593539v8
Appears in 1 contract
Samples: Credit Agreement (TrueBlue, Inc.)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver to on behalf of the Administrative Agent applicable Borrower (which hereby irrevocably authorizes the Administrative Agent shall deliver Swingline Lender to so request on its behalf), that each Revolving Facility Lender under the Lenders) with a copy Revolving Facility pursuant to the Borrower, no later than 11:00 a.m. at least one (1) Business Day which such Swingline Loan was made make an ABR Revolving Loan in advance an amount equal to such Revolving Facility Lender’s Revolving Facility Percentage of the proposed Credit Extension, a notice amount of Swingline Loans then outstanding under such Revolving Facility. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.02, without regard to the Borrowing Minimum and Borrowing Multiples, but subject to the unutilized portion of the Revolving Facility Commitments under such Revolving Facility and the conditions set forth in Section 4.01. The Swingline Lender shall furnish the applicable Borrower on with a copy of the date of applicable Borrowing Request promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Revolving Facility Lender shall make an amount equal to its Revolving Facility Percentage under the Revolving Facility pursuant to which such Swingline Loan was made of the amount specified in such Borrowing Request available to the Administrative Agent in Same Day Funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender (and Agent’s Office for Dollar-denominated payments not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Facility Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Revolving Credit Loan made by the Swingline Lender to the Borrower, and applicable Borrower in such portion of amount under such Revolving Facility. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: First Lien Credit Agreement (CAESARS ENTERTAINMENT Corp)
Refinancing of Swingline Loans. (i) With respect to any Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) above, the The Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the Borrower (each of which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Incremental Revolving Facility Lender make an ABR Incremental Revolving Loan in an amount equal to such Incremental Revolving Facility Lender’s Incremental Revolving Facility Percentage of the Administrative Agent amount of Swingline Loans then outstanding. Such request shall be made in writing (which the Administrative Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. at least one (1) Business Day in advance of the proposed Credit Extension, a notice (which written request shall be deemed to be a Committed Loan Notice given by Borrowing Request for purposes hereof) and in accordance with the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans requirements of Section 2.02, without regard to the Borrowing Minimum and Borrowing Multiples, but subject to the unutilized portion of the Incremental Revolving Facility Commitments and the conditions set forth in Section 4.01. The Swingline Lender shall furnish the Borrower on with a copy of the date of applicable Borrowing Request promptly after delivering such Credit Extension in notice to the Administrative Agent. Each Incremental Revolving Facility Lender shall make an amount equal to its Incremental Revolving Facility Percentage of the amount specified in such Borrowing Request available to the Administrative Agent in Same Day Funds for the account of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by at the Administrative Agent to the Swingline Lender (and Agent’s Office for Dollar-denominated payments not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) later than 1:00 p.m. on the day specified in such Borrowing Request, whereupon, subject to Section 2.04(c)(ii), each Incremental Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans Facility Lender that so makes funds available shall be deemed to be paid with the proceeds of a have made an ABR Incremental Revolving Credit Loan made by the Swingline Lender to the Borrower, and Borrower in such portion of amount. The Administrative Agent shall remit the Swingline Loans deemed funds so received to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Refinancing of Swingline Loans. (i) With respect to any To the extent a Loan Notice for a Syndicated Loan is not simultaneously delivered with a Loan Notice for a Swingline Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.05(a)(ii) or repaid pursuant to clause (a) aboveLoan, the Swingline Lender may at any time in its sole and absolute discretiondiscretion may request, deliver on behalf of the applicable Borrower Party (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender Group make a Syndicated Loan in an amount equal to such Lender Group’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, but without regard to the minimum and multiples specified in Section 2.03 for the principal amount of Base Rate Loans (to be automatically converted to a Eurocurrency Rate Loan with a one (1) month Interest Period three (3) days thereafter), but subject to the unutilized portion of the Available Commitment and the applicable conditions set forth in Article 7. Promptly upon receipt of such Loan Notice, the Administrative Agent (which the Administrative will give notice thereof to each Funding Agent shall deliver to the Lenders) with a copy to the Borrower, no later than 11:00 a.m. by 1:00 p.m. at least one (1) Business Day prior to the date specified in advance such Loan Notice, specifying in such Loan Notice such Lender Group’s Applicable Percentage of such Swingline Loan or Loans, and the Swingline Lender shall furnish the applicable Borrower Party with a copy of the proposed Credit Extensionapplicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each (A) Conduit Lender may, and if a notice Conduit Lender does not, each Committed Lender in such Conduit Lender’s Lender Group shall, and (which B) each Committed Lender in a Lender Group without a Conduit Lender shall, upon receipt of such Loan Notice, make an amount equal to its Lender Group’s Applicable Percentage (or, in the case of a Committed Lender, its Applicable Percentage) of the amount specified in such Loan Notice available (including for this purpose Cash Collateral and other credit support made available with respect to the applicable Swingline Loan) to the Administrative Agent in immediately available funds for the account of the Swingline Lender not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.07(c)(ii), each Lender that so makes funds available shall be deemed to be have made a Committed Loan Notice given by the Borrower) requesting that each Revolving Credit Lender make Revolving Credit Loans that are Base Rate Loans Loan to the applicable Borrower on the date of Party in such Credit Extension in an amount equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on the date such notice is given which the Swingline Lender requests Lenders to prepayamount. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Credit Loans made by the Lenders other than the Swingline Lender shall be immediately delivered by the The Administrative Agent shall remit the funds so received to the Swingline Lender (and not to the Borrower) and applied to repay a corresponding portion of the applicable Refunded Swingline Loans and (2) on the day such Revolving Credit Loans are made, the Swingline Lender’s Applicable Percentage of the Refunded Swingline Loans shall be deemed to be paid with the proceeds of a Revolving Credit Loan made by the Swingline Lender to the Borrower, and such portion of the Swingline Loans deemed to be so paid shall no longer be outstanding as Swingline Loans but shall instead constitute part of the Swingline Lender’s outstanding Revolving Credit Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving Credit Lenders in the manner contemplated by Section 2.13.
Appears in 1 contract
Samples: Revolving Credit Agreement (TCW Direct Lending LLC)
