Common use of Refinancing of Swingline Loans Clause in Contracts

Refinancing of Swingline Loans. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably requests and authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Loan in an amount equal to such 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 for purposes hereof) and in accordance with the requirements of Section 2.1(b), without regard to the minimum and multiples specified in Section 2.5 for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Committed Amount and the conditions set forth in Section 5.2. The Swingline Lender shall furnish the Borrower with a copy of the applicable Notice of Borrowing promptly after delivering such notice to the Agent. Each Lender shall make an amount equal to its Commitment Percentage of the amount specified in such Notice of Borrowing available to the Agent in immediately available funds for the account of the Swingline Lender at the Agent's Office not later than 1:00 p.m. on the day specified in such Notice of Borrowing, whereupon, subject to Section 2.3(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

AutoNDA by SimpleDocs

Refinancing of Swingline Loans. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably requests and authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate an ABR Revolving Loan in an amount equal to such Lender's Commitment ’s 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 Revolving Loan Notice of Borrowing for purposes hereof) and in accordance with the requirements of Section 2.1(b)2.2, without regard to the minimum and multiples specified in Section 2.5 therein for the principal amount of Base Rate ABR Loans, but subject to the unutilized portion of the Total Revolving Committed Amount Commitments and the conditions set forth in Section 5.2. The Swingline Lender shall furnish the Borrower with a copy of the applicable Notice of Borrowing notice required pursuant to Section 2.2 promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Commitment Percentage of the amount specified in such Notice of Borrowing notice available to the Administrative Agent in immediately available funds for the account of the Swingline Lender at the Agent's Funding Office not later than 1:00 p.m. P.M., New York City time, on the day specified in such Notice of BorrowingRevolving Loan Notice, whereupon, subject to Section 2.3(c)(ii2.5(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate an ABR Revolving Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (National Financial Partners Corp)

Refinancing of Swingline Loans. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the relevant Borrower (which hereby irrevocably requests and authorizes the Swingline Lender to so request on its behalf), that each Lender make a Revolving Loan (in the form of a Base Rate Loan Advance) in an amount equal to such Lender's ’s Commitment Percentage of Ratio multiplied by 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 Advance for purposes hereof) and in accordance with the requirements of Section 2.1(b)2.2, without regard to the minimum and multiples specified in Section 2.5 for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Committed Amount Loan Commitment and the conditions set forth in Section 5.23.2. The Swingline Lender shall furnish the relevant Borrower with a copy of the applicable Notice of Borrowing Request for Advance promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Commitment Percentage of Ratio multiplied by the amount specified in such Notice of Borrowing Request for Advance 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 Notice of BorrowingRequest for Advance, whereupon, subject to Section 2.3(c)(ii2.17(c)(ii), each Lender that so makes funds available shall be deemed to have made a Revolving Loan (in the form of a Base Rate Loan Advance) to the relevant Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Assignment and Assumption (American Tower Corp /Ma/)

Refinancing of Swingline Loans. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably requests and authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Revolving Loan in an amount equal to such Lender's Commitment 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 of Borrowing for purposes hereof) and in accordance with the requirements of Section 2.1(b)2.02, without regard to the minimum and multiples specified in Section 2.5 therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Committed Amount Aggregate Commitments and the conditions set forth in Section 5.25.02. The Swingline Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice of Borrowing promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Commitment Applicable Percentage of the amount specified in such Committed Loan Notice of Borrowing available to the Administrative Agent in immediately available funds for the account of the Swingline Lender at the Administrative Agent's Office not later than 1:00 p.m. 10:00 a.m. on the day specified in such Committed Loan Notice of Borrowing(which day shall be not sooner than the first Business Day following the date on which such Committed Loan Notice is delivered), whereupon, subject to Section 2.3(c)(ii2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate Revolving Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Cincinnati Bell Inc)

AutoNDA by SimpleDocs

Refinancing of Swingline Loans. (i) The Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably requests and authorizes the Swingline Lender to so request on its behalf), that each Lender make a Revolving Loan (in the form of a Base Rate Loan Advance) in an amount equal to such Lender's Xxxxxx’s Commitment Percentage of Ratio multiplied by 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 Advance for purposes hereof) and in accordance with the requirements of Section 2.1(b)2.2, without regard to the minimum and multiples specified in Section 2.5 for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Committed Amount Loan Commitment and the conditions set forth in Section 5.23.2. The Swingline Lender shall furnish the Borrower with a copy of the applicable Notice of Borrowing Request for Advance promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Commitment Percentage of Ratio multiplied by the amount specified in such Notice of Borrowing Request for Advance 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 Notice of BorrowingRequest for Advance, whereupon, subject to Section 2.3(c)(ii2.17(c)(ii), each Lender that so makes funds available shall be deemed to have made a Revolving Loan (in the form of a Base Rate Loan Advance) to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swingline Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (American Tower Corp /Ma/)

Time is Money Join Law Insider Premium to draft better contracts faster.