Common use of Refunded Swingline Loans Clause in Contracts

Refunded Swingline Loans. (i) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of the US$-Borrowers, (each of which hereby irrevocably directs the Swingline Lender to so act on its behalf), on one Business Days’ notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender to make, and each US$ Lender hereby agrees to make, a US$ Loan, in an amount equal to such US$ Lender’s US$ Commitment Percentage of the aggregate amount of the US$ Swingline Loans (the “Refunded US$ Swingline Loans”) outstanding on the date of such notice, to repay the Swingline Lender. Each US$ Lender shall make the amount of such US$ Loan available to the Administrative Agent at the Applicable Lending Office in immediately available funds, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the Swingline Lender to the repayment of the Refunded US$ Swingline Loans. Each of the US$ Borrowers, as applicable, irrevocably authorizes the Swingline Lender, on one Business Days’ notice given by the Swingline Lender no later than 12:00 Noon, New York City time, to charge such US$ Borrower’s, as applicable, accounts with the Administrative Agent (up to the amount available in each such account) in order to pay the amount of such Refunded US$ Swingline Loans to the extent amounts received from the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loans.

Appears in 3 contracts

Samples: Credit Agreement (Iron Mountain Inc), Credit Agreement (Iron Mountain Inc), Credit Agreement (Iron Mountain Inc)

AutoNDA by SimpleDocs

Refunded Swingline Loans. (i) The With respect to any outstanding Swingline LenderLoans, the Swingline Lender may at any time (whether or not an Event of Default has occurred and from time to time is continuing) in its sole and absolute discretion maydiscretion, and is hereby authorized and empowered by the Borrower to, cause a Borrowing of Revolving Loans to be made for the purpose of repaying such Swingline Loans by delivering to the Administrative Agent (if the Administrative Agent is not also the Swingline Lender) and each other Lender (on behalf of of, and with a copy to, the US$-Borrowers, (each of which hereby irrevocably directs the Swingline Lender to so act on its behalfBorrower), not later than 11:00 a.m. on one Business Days’ the proposed Borrowing Date therefor, a notice (which shall be deemed to be a Borrowing Notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender Borrower) requesting the Lenders to make, and each US$ Lender hereby agrees to make, a US$ Loan, make Revolving Loans (which shall be made initially as Base Rate Loans) on such Borrowing Date in an aggregate amount equal to such US$ Lender’s US$ Commitment Percentage of the aggregate amount of the US$ such Swingline Loans (the “Refunded US$ Swingline Loans”) outstanding on the date of such notice, to repay notice is given that the Swingline LenderLender requests to be repaid. Each US$ Lender shall make To the amount of extent the Lenders have made such US$ Loan amounts available to the Administrative Agent at the Applicable Lending Office as provided in immediately available fundsSection 2.3, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent will make the aggregate of such amounts available to the Swingline Lender for application in like funds as received by the Swingline Lender to the Administrative Agent, which shall apply such amounts in repayment of the Refunded US$ Swingline Loans. Each Notwithstanding any provision of this Agreement to the US$ Borrowerscontrary, as applicableon the relevant Borrowing Date, irrevocably authorizes the Refunded Swingline Loans (including the Swingline Lender’s ratable share thereof, on one Business Days’ notice given in its capacity as a Lender) shall be deemed to be repaid with the proceeds of the Revolving Loans made as provided above (including a Revolving Loan deemed to have been made by the Swingline Lender Lender), and such Refunded Swingline Loans deemed to be so repaid shall no later than 12:00 Noon, New York City time, longer be outstanding as Swingline Loans but shall be outstanding as Revolving Loans. If any portion of any such amount repaid (or deemed to charge such US$ Borrower’s, as applicable, accounts with the Administrative Agent (up be repaid) to the amount available Swingline Lender shall be recovered by or on behalf of the Borrower from the Swingline Lender in each such account) in order to pay any bankruptcy, insolvency or similar proceeding or otherwise, the loss of the amount of such Refunded US$ Swingline Loans to so recovered shall be shared ratably among all the extent amounts received from Lenders in the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loansmanner contemplated by Section 2.3.

Appears in 2 contracts

Samples: Credit Agreement (WGL Holdings Inc), Credit Agreement (WGL Holdings Inc)

Refunded Swingline Loans. (i) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of the US$-Borrowers, Company (each of which hereby irrevocably directs the Swingline Lender to so act on its behalf), on one Business Days’ Day's notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender to make, and each US$ Lender hereby agrees to make, a US$ Loan, in an amount equal to such US$ Lender’s 's US$ Commitment Percentage of the aggregate amount of the US$ Swingline Loans (the “Refunded "REFUNDED US$ Swingline Loans”SWINGLINE LOANS") outstanding on the date of such notice, to repay the Swingline Lender. Each US$ Lender shall make the amount of such US$ Loan available to the Administrative Agent at the Applicable Lending Office in immediately available funds, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the Swingline Lender to the repayment of the Refunded US$ Swingline Loans. Each of the US$ Borrowers, as applicable, The Company irrevocably authorizes the Swingline Lender, on one Business Days’ Day's notice given by the Swingline Lender no later than 12:00 Noon, New York City time, to charge such US$ Borrower’s, as applicable, the Company's accounts with the Administrative Agent (up to the amount available in each such account) in order to pay the amount of such Refunded US$ Swingline Loans to the extent amounts received from the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loans.

Appears in 2 contracts

Samples: Credit Agreement (Iron Mountain Inc/Pa), Credit Agreement (Iron Mountain Inc/Pa)

Refunded Swingline Loans. (i) The With respect to any outstanding Swingline LenderLoans, the Swingline Lender may at any time (whether or not an Event of Default has occurred and from time to time is continuing) in its sole and absolute discretion maydiscretion, and is hereby authorized and empowered by the Borrower to, cause a Borrowing of Revolving Loans to be made for the purpose of repaying such Swingline Loans by delivering to the Administrative Agent (if the Administrative Agent is not also the Swingline Lender) and each other Lender (on behalf of of, and with a copy to, the US$-Borrowers, (each of which hereby irrevocably directs the Swingline Lender to so act on its behalfBorrower), not later than 11:00 a.m. on one Business Days’ the proposed Borrowing Date therefor, a notice (which shall be deemed to be a Borrowing Notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender Borrower) requesting the Lenders to make, and each US$ Lender hereby agrees to make, a US$ Loan, make Revolving Loans (which shall be made initially as Base Rate Loans) on such Borrowing Date in an aggregate amount equal to such US$ Lender’s US$ Commitment Percentage of the aggregate amount of the US$ such Swingline Loans (the “Refunded US$ Swingline Loans”) outstanding on the date of such notice, to repay notice is given that the Swingline LenderLender requests to be repaid. Each US$ Lender shall make To the amount of extent the Lenders have made such US$ Loan amounts available to the Administrative Agent at the Applicable Lending Office as provided in immediately available fundsSection 2.3, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent will make the aggregate of such amounts available to the Swingline Lender for application in like funds as received by the Swingline Lender to the Administrative Agent, which shall apply such amounts in repayment of the Refunded US$ Swingline Loans. Each Notwithstanding any provision of this Agreement to the US$ Borrowerscontrary, as applicableon the relevant Borrowing Date, irrevocably authorizes the Refunded Swingline Loans (including the Swingline Lender’s ratable share thereof, on one Business Days’ notice given in its capacity as a Lender) shall be deemed to be repaid with the proceeds of the Revolving Loans made as provided above (including a Revolving Loan deemed to have been made by the Swingline Lender Lender), and such Refunded Swingline Loans deemed to be so repaid shall no later than 12:00 Noon, New York City time, longer be outstanding as Swingline Loans but shall be outstanding as Revolving Loans. If any portion of any such amount repaid (or deemed to charge such US$ Borrower’s, as applicable, accounts with the Administrative Agent (up be repaid) to the amount available Swingline Lender shall be recovered by or on behalf of the Borrower from the Swingline Lender in each such account) in order to pay any bankruptcy, insolvency or similar proceeding or otherwise, the loss of the amount of such Refunded US$ Swingline Loans to so recovered shall be shared ratably among all the extent amounts received from Lenders in the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loans.manner contemplated by Section 2.3. 2.2.5

Appears in 1 contract

Samples: Credit Agreement (Washington Gas Light Co)

Refunded Swingline Loans. (i) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of the US$-Borrowers, (each of which hereby irrevocably directs the Swingline Lender to so act on its behalf), on one Business Days’ Day’s notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender to make, and each US$ Lender hereby agrees to make, a US$ Loan, in an amount equal to such US$ Lender’s US$ Commitment Percentage of the aggregate amount of the US$ Swingline Loans (the “Refunded US$ Swingline Loans”) outstanding on the date of such notice, to repay the Swingline Lender. Each US$ Lender shall make the amount of such US$ Loan available to the Administrative Agent at the Applicable Lending Office in immediately available funds, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the Swingline Lender to the repayment of the Refunded US$ Swingline Loans. Each of the US$ Borrowers, as applicable, irrevocably authorizes the Swingline Lender, on one Business Days’ Day’s notice given by the Swingline Lender no later than 12:00 Noon, New York City time, to charge such US$ Borrower’s, as applicable, accounts with the Administrative Agent (up to the amount available in each such account) in order to pay the amount of such Refunded US$ Swingline Loans to the extent amounts received from the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loans.

Appears in 1 contract

Samples: Credit Agreement (Iron Mountain Inc)

AutoNDA by SimpleDocs

Refunded Swingline Loans. (i) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of the US$-Borrowers, Company (each of which hereby irrevocably directs the Swingline Lender to so act on its behalf), on one Business Days’ Day's notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender to make, and each US$ Lender hereby agrees to make, a US$ Loan, in an amount equal to such US$ Lender’s 's US$ Commitment Percentage of the aggregate amount of the US$ Swingline Loans (the “Refunded US$ Swingline Loans”"REFUNDED SWINGLINE LOANS") outstanding on the date of such notice, to repay the Swingline Lender. Each US$ Lender shall make the amount of such US$ Loan available to the Administrative Agent at the Applicable Lending Office in immediately available funds, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the Swingline Lender to the repayment of the Refunded US$ Swingline Loans. Each of the US$ Borrowers, as applicable, The Company irrevocably authorizes the Swingline Lender, on one Business Days’ Day's notice given by the Swingline Lender no later than 12:00 Noon, New York City time, to charge such US$ Borrower’s, as applicable, the Company's accounts with the Administrative Agent (up to the amount available in each such account) in order to pay the amount of such Refunded US$ Swingline Loans to the extent amounts received from the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loans.

Appears in 1 contract

Samples: Credit Agreement (Iron Mountain Inc/Pa)

Refunded Swingline Loans. (i) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of the US$-BorrowersParent or the Company, (each of which hereby irrevocably directs the Swingline Lender to so act on its behalf), on one Business Days’ Day’s notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender to make, and each US$ Lender hereby agrees to make, a US$ Loan, in an amount equal to such US$ Lender’s US$ Commitment Percentage of the aggregate amount of the US$ Swingline Loans (the “Refunded US$ Swingline Loans”) outstanding on the date of such notice, to repay the Swingline Lender. Each US$ Lender shall make the amount of such US$ Loan available to the Administrative Agent at the Applicable Lending Office in immediately available funds, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the Swingline Lender to the repayment of the Refunded US$ Swingline Loans. Each of The Parent or the US$ BorrowersCompany, as applicable, irrevocably authorizes the Swingline Lender, on one Business Days’ Day’s notice given by the Swingline Lender no later than 12:00 Noon, New York City time, to charge such US$ Borrowerthe Parent’s or the Company’s, as applicable, accounts with the Administrative Agent (up to the amount available in each such account) in order to pay the amount of such Refunded US$ Swingline Loans to the extent amounts received from the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loans.

Appears in 1 contract

Samples: Subsidiary Pledge Agreement (Iron Mountain Inc)

Refunded Swingline Loans. (i) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of the US$-BorrowersCompany, (each of which hereby irrevocably directs the Swingline Lender to so act on its behalf), on one Business Days’ Day’s notice given by the Swingline Lender no later than 12:00 Noon, New York City time, request each US$ Lender to make, and each US$ Lender hereby agrees to make, a US$ Loan, in an amount equal to such US$ Lender’s US$ Commitment Percentage of the aggregate amount of the US$ Swingline Loans (the “Refunded US$ Swingline Loans”) outstanding on the date of such notice, to repay the Swingline Lender. Each US$ Lender shall make the amount of such US$ Loan available to the Administrative Agent at the Applicable Lending Office in immediately available funds, not later than 10:00 a.m., New York City time, one Business Day after the date of such notice. The proceeds of such US$ Loans shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the Swingline Lender to the repayment of the Refunded US$ Swingline Loans. Each of the US$ Borrowers, as applicable, The Company irrevocably authorizes the Swingline Lender, on one Business Days’ Day’s notice given by the Swingline Lender no later than 12:00 Noon, New York City time, to charge such US$ Borrower’s, as applicable, the Company’s accounts with the Administrative Agent (up to the amount available in each such account) in order to pay the amount of such Refunded US$ Swingline Loans to the extent amounts received from the US$ Lenders are not sufficient to repay in full such Refunded US$ Swingline Loans.

Appears in 1 contract

Samples: Credit Agreement (Iron Mountain Inc)

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