Common use of Refinancing US Swing Loans Clause in Contracts

Refinancing US Swing Loans. (1) The US Swingline Lender may at any time (and shall no less frequently than once each week) forward a demand to US Agent (which US Agent shall, upon receipt, forward to each US Lender) that each US Lender pay to US Agent, for the account of the US Swingline Lender, such US Lender’s Commitment Percentage of the outstanding US Swing Loans (as such amount may be increased pursuant to subsection 1.11(e)(ii)). (2) Each US Lender shall pay the amount owing by it to US Agent for the account of the US Swingline Lender on the Business Day following receipt of the notice or demand therefor. Payments received by US Agent after 12:00 noon Chicago time may, in US Agent’s discretion, be deemed to be received on the next Business Day. Upon receipt by US Agent of such payment (other than during the continuation of any Event of Default under subsection 7.1(f) or 7.1(g)), such US Lender shall be deemed to have made a US Revolving Loan to the US Borrower, which, upon receipt of such payment by the US Swingline Lender from US Agent, the US Borrower shall be deemed to have used in whole to refinance such US Swing Loan. In addition, regardless of whether any such demand is made, upon the occurrence of any Event of Default under subsection 7.1(f) or 7.1(g), each US Lender shall be deemed to have acquired, without recourse or warranty, an undivided interest and participation in each US Swing Loan in an amount equal to such US Lender’s Commitment Percentage of such US Swing Loan. If any payment made by any US Lender as a result of any such demand is not deemed a US Revolving Loan, such payment shall be deemed a funding by such US Lender of such participation. Such participation shall not be otherwise required to be funded. Upon receipt by the US Swingline Lender of any payment from any US Lender pursuant to this clause (iii) with respect to any portion of any US Swing Loan, the US Swingline Lender shall promptly pay over to such US Lender all payments of principal (to the extent received after such payment by such US Lender) and interest (to the extent accrued with respect to periods after such payment) on account of such US Swing Loan received by the US Swingline Lender with respect to such portion.

Refinancing US Swing Loans. (1) The US Swingline Lender may at any time (and shall no less frequently than once each week) forward a demand to US Agent (which US Agent shall, upon receipt, forward to each US Lender) that each US Lender pay to US Agent, for the account of the US Swingline Lender, such US Lender’s Commitment Percentage of the outstanding US Swing Loans (as such amount may be increased pursuant to subsection 1.11(e)(ii)). (2) Each US Lender shall pay the amount owing by it to US Agent for the account of the US Swingline Lender on the Business Day following receipt of the notice or demand therefor. Payments received by US Agent after 12:00 noon Chicago time 9:00 a.m. (Central time) may, in US Agent’s discretion, be deemed to be received on the next Business Day. Upon receipt by US Agent of such payment (other than during the continuation of any Event of Default under subsection 7.1(f) or 7.1(g)), such US Lender shall be deemed to have made a US Revolving Loan to the US Borrower, which, upon receipt of such payment by the US Swingline Lender from US Agent, the US Borrower shall be deemed to have used in whole to refinance such US Swing Loan. In addition, regardless of whether any such demand is made, upon the occurrence of any Event of Default under subsection 7.1(f) or 7.1(g), each US Lender shall be deemed to have acquired, without recourse or warranty, an undivided interest and participation in each US Swing Loan in an amount equal to such US Lender’s Commitment Percentage of such US Swing Loan. If any payment made by any US Lender as a result of any such demand is not deemed a US Revolving Loan, such payment shall be deemed a funding by such US Lender of such participation. Such participation shall not be otherwise required to be funded. Upon receipt by the US Swingline Lender of any payment from any US Lender pursuant to this clause (iii) with respect to any portion of any US Swing Loan, the US Swingline Lender shall promptly pay over to such US Lender all payments of principal (to the extent received after such payment by such US Lender) and interest (to the extent accrued with respect to periods after such payment) on account of such US Swing Loan received by the US Swingline Lender with respect to such portion.

Refinancing US Swing Loans. (1) The US Swingline Lender may at any time (and shall no less frequently than once each week) forward a demand to US Agent (which US Agent shall, upon receipt, forward to each US Revolving Lender) that each US Revolving Lender pay to US Agent, for the account of the US Swingline Lender, such US Revolving Lender’s 's Commitment Percentage of the outstanding US Swing Loans (as such amount may be increased pursuant to subsection 1.11(e)(ii1.12(c)(i)). (2) Each US Revolving Lender shall pay the amount owing by it to US Agent for the account of the US Swingline Lender on the Business Day following receipt of the notice or demand therefor. Payments received by US Agent after 12:00 noon Chicago time 9:00 a.m. (Central time) may, in US Agent’s 's discretion, be deemed to be received on the next Business Day. Upon receipt by US Agent of such payment (other than during the continuation of any Event of Default under subsection 7.1(f) or 7.1(g)), such US Revolving Lender shall be deemed to have made a US Revolving Loan to the US Borrower, which, upon receipt of such payment by the US Swingline Lender from US Agent, the US Borrower shall be deemed to have used in whole to refinance such US Swing Loan. In addition, regardless of whether any such demand is made, upon the occurrence of any Event of Default under subsection 7.1(f) or 7.1(g), each US Revolving Lender shall be deemed to have acquired, without recourse or warranty, an undivided interest and participation in each US Swing Loan in an amount equal to such US Revolving Lender’s 's Commitment Percentage of such US Swing Loan. If any payment made by any US Revolving Lender as a result of any such demand is not deemed a US Revolving Loan, such payment shall be deemed a funding by such US Revolving Lender of such participation. Such participation shall not be otherwise required to be funded. Upon receipt by the US Swingline Lender of any payment from any US Revolving Lender pursuant to this clause (iii) with respect to any portion of any US Swing Loan, the US Swingline Lender shall promptly pay over to such US Revolving Lender all payments of principal (to the extent received after such payment by such US Revolving Lender) and interest (to the extent accrued with respect to periods after such payment) on account of such US Swing Loan received by the US Swingline Lender with respect to such portion.