Common use of Refinancing of Swingline Loans Clause in Contracts

Refinancing of Swingline Loans. The Swingline Lender at any time in its sole discretion may request, on behalf of the Company (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make an ABR 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 Borrowing Request 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 ABR Loans, but subject to the unutilized portion of the Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Company with a copy of the applicable Borrowing Request 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 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 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 2.05(c)(ii), each Lender that so makes funds available shall be deemed to have made an ABR Loan to the Company in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Heidrick & Struggles International Inc)

AutoNDA by SimpleDocs

Refinancing of Swingline Loans. The (i) To the extent a Loan Notice for a Syndicated Loan is not simultaneously delivered with a Loan Notice for a Swingline Loan, the Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Company applicable Borrower Party (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender Group make an ABR a Syndicated Loan in an amount equal to such XxxxxxLender 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 Borrowing Request Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, but without regard to the minimum and multiples specified therein in Section 2.03 for the principal amount of ABR LoansBase Rate Loans (to be automatically converted to a Eurocurrency RateTerm SOFR Loan with a one (1) weekmonth Interest Period three (3) days thereafter), but subject to the unutilized portion of the Commitments Available Commitment and the applicable conditions set forth in Section 4.027. The Promptly upon receipt of such Loan Notice, the Administrative Agent will give notice thereof to each Funding Agent by 1:00 p.m. at least one (1) Business Day prior to the date specified in 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 Company applicable Borrower Party with a copy of the applicable Borrowing Request 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 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 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 2.05(c)(ii), each Lender that so makes funds available shall be deemed to have made an ABR Loan to the Company in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.4890-4745-6322 v.15

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending VII LLC)

Refinancing of Swingline Loans. (i) The Swingline Lender at any time in its sole discretion may request, on behalf of the Company applicable U.S. Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Revolving A Lender make an ABR a Term SOFR Daily Floating Rate Loan in an amount equal to such XxxxxxRevolving A 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 Borrowing Request 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 principal amount of ABR Term SOFR Daily Floating Rate Loans, but subject to the unutilized portion of the Revolving A Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Company applicable U.S. Borrower with a copy of the applicable Borrowing Request Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving A Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Borrowing Request Loan Notice available to the Administrative Agent in immediately available funds Same Day Funds (and the Administrative Agent may apply cash collateral 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 Borrowing RequestLoan Notice, whereupon, subject to Section 2.05(c)(ii), each Lender that so makes funds available shall be deemed to have made an ABR Loan to the Company in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.to

Appears in 1 contract

Samples: Credit Agreement (Radiant Logistics, Inc)

Refinancing of Swingline Loans. The Swingline Lender at any time in its sole discretion may request, on behalf of the Company Borrower (which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Revolving Lender make an ABR a Revolving Loan that is a Base Rate Loan in an amount equal to such XxxxxxRevolving Lender’s Applicable Revolving 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 Borrowing Request 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 principal amount of ABR Base Rate Loans, but subject to the unutilized portion of the Commitments Revolving Facility and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Company Borrower with a copy of the applicable Borrowing Request Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to its Applicable Revolving Percentage of the amount specified in such Borrowing Request 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 Borrowing RequestLoan Notice, whereupon, subject to Section 2.05(c)(ii2.04(c)(ii), each Revolving Lender that so makes funds available shall be deemed to have made an ABR a Revolving Loan that is a Base Rate Loan to the Company Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Commercial Vehicle Group, Inc.)

AutoNDA by SimpleDocs

Refinancing of Swingline Loans. The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Company Borrower (which hereby irrevocably requests and authorizes the Swingline Lender to so request on its behalf), that each Lender make an ABR a Base Rate Loan in an amount equal to such Xxxxxx’s Applicable Lender's Commitment 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 Notice of Borrowing Request for purposes hereof) and in accordance with the requirements of Section 2.022.1(b), without regard to the minimum and multiples specified therein in Section 2.5 for the principal amount of ABR Base Rate Loans, but subject to the unutilized portion of the Commitments Revolving Committed Amount and the conditions set forth in Section 4.025.2. The Swingline Lender shall furnish the Company Borrower with a copy of the applicable Notice of Borrowing Request promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Commitment Percentage of the amount specified in such Notice of 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 the Swingline Lender at the Administrative Agent’s 's Office not later than 1:00 p.m. on the day specified in such Borrowing RequestNotice of Borrowing, whereupon, subject to Section 2.05(c)(ii2.3(c)(ii), each Lender that so makes funds available shall be deemed to have made an ABR a Base Rate Loan to the Company Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!