Common use of Refinancing of Swingline Loans Clause in Contracts

Refinancing of Swingline Loans. (i) Permitted Refinancings of Swingline Loans. USBNA, at ----------------------------------------- any time in its sole and absolute discretion, may, upon notice given to each other Lender by not later than 2:00 P.M. (Minneapolis time) on any Business Day, request that each Lender (including USBNA) make a Warehousing Loan in an amount equal to its Pro Rata Share of a portion of the aggregate unpaid principal amount of any outstanding Swingline Loans for the purpose of refinancing such Swingline Loans. Such Warehousing Loans shall be made as Eurodollar Advances, unless the Company specifies otherwise.

Appears in 2 contracts

Samples: Credit Agreement (New Century Financial Corp), Credit Agreement (New Century Financial Corp)

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Refinancing of Swingline Loans. (ia) Permitted Refinancings of Swingline Loans. USBNA, ----------------------------------------- at ----------------------------------------- any time in its sole and absolute discretion, may, upon notice given to each other Lender Bank by not later than 2:00 P.M. 1:00 p.m. (Minneapolis Denver time) on any Business Day, request that each Lender Bank (including USBNA) make a Warehousing Loan in an amount equal to its Pro Rata Share pro rata share of a portion of the aggregate unpaid principal amount of any outstanding Swingline Loans for the purpose of refinancing such Swingline Loans. Such Warehousing Loans shall be made as Floating Eurodollar Rate Advances, unless the Company specifies otherwise.

Appears in 1 contract

Samples: Warehousing Credit Agreement (MDC Holdings Inc)

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Refinancing of Swingline Loans. (ia) Permitted Refinancings of Swingline Loans. USBNA, at ----------------------------------------- any time in its sole and absolute discretion, may, upon notice given to each other Lender Bank by not later than 2:00 P.M. p.m. (Minneapolis time) on any Business Day, request that each Lender Bank (including USBNA) make a Warehousing Loan in an amount equal to its Pro Rata Share pro rata share of a portion of the aggregate unpaid principal amount of any outstanding Swingline Loans for the purpose of refinancing such Swingline Loans. Such Warehousing Loans shall be made as Floating Eurodollar Rate Advances, unless the Company specifies otherwise.

Appears in 1 contract

Samples: Warehousing Credit Agreement (MDC Holdings Inc)

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