Common use of Refunding of Swing Line Loans Clause in Contracts

Refunding of Swing Line Loans. Upon demand by First Union, ----------------------------- Swing Line Loans shall be refunded or participations therein acquired, as applicable, in accordance with the following provisions. Such refunding or acquisition will occur no later than 4:00 p.m. (Charlotte, North Carolina time) on the day of such demand if made before 2:00 p.m. (Charlotte, North Carolina time) and no later than 12:00 noon (Charlotte, North Carolina time) on the next succeeding Business Day if demand therefor is made after 2:00 p.m. (Charlotte, North Carolina time). (1) Prior to the occurrence of an Event of Default or Potential Default, Swing Line Loans shall be refunded by the Lenders. Such refundings shall be made by the Lenders in accordance with their respective Percentage Shares and shall, thereafter, be reflected as actual Regular Loans of the Lenders on the books and records of the Administrative Agent. The type of Regular Loan made by the Lenders in connection with the refunding of any Swing Line Loan shall be the type of Loan identified by the Companies in the Loan Request for such Swing Line Loan as being scheduled to repay such Swing Line Loan. (2) After the occurrence of any Event of Default or Potential Default, each Lender (other than First Union) shall irrevocably and unconditionally purchase from First Union, without recourse or warranty (except that such outstanding Swing Line Loans in fact were made in accordance with the provisions of this Agreement, and are not subject to any Liens arising out of any act of First Union), an undivided interest and participation in any Swing Line Loans then outstanding, by paying to First Union, in dollars immediately available to First Union, an amount equal to such Lender's Percentage Share of such Swing Line Loans, and thereafter, except as otherwise provided in the second succeeding sentence, the Lenders' respective interests in such Swing Line Loans, and the remaining interest of First Union in such Swing Line Loans, shall in all respects be treated as Regular Loans under this Agreement of the type identified by the Companies in the Loan Request for such Swing Line Loan as being scheduled to repay such Swing Line Loan, but such Swing Line Loans shall continue to be evidenced by the Note which evidences the Swing Line Loans. If any Lender does not pay any amount which it is required to pay to First Union, First Union shall be entitled to recover such amount on demand from such Lender, together with interest thereon, at the Applicable Corporate Rate, for each day from the date of such demand, if made prior to 2:00 p.m. (Charlotte, North Carolina time) on any Business Day, or, if made after 2:00 p.m. from the next Business Day following the date of such demand, until the date such amount is paid to First Union by such Lender. If such Lender does not pay such amount forthwith upon First Union's demand therefor, and until such time as such Lender makes the required payment, First Union shall be deemed to continue to have outstanding a Swing Line Loan in the amount of such unpaid participation obligation for all purposes of this Agreement other than those provisions requiring such other Lender to purchase a participation therein. First Union shall upon the request of such Lender, furnish to such Lender a participation certificate evidencing the participation purchased by such Lender.

Refunding of Swing Line Loans. Upon demand by First Union, ----------------------------- Swing Line Loans shall be refunded or participations therein acquired, as applicable, in accordance with the following provisions. Such refunding or acquisition will occur no later than 4:00 p.m. (Charlotte, North Carolina time) on the day of such demand if made before 2:00 p.m. (CharlotteChar- lotte, North Carolina time) and no later than 12:00 noon (Charlotte, North Carolina time) on the next succeeding Business Day if demand therefor is made after 2:00 p.m. (Charlotte, North Carolina time). (1) Prior to the occurrence of an Event of Default or Potential Default, Swing Line Loans shall be refunded by the Lenders. Such refundings shall be made by the Lenders in accordance with their respective Percentage Shares and shall, thereafter, be reflected as actual Regular Loans of the Lenders on the books and records of the Administrative Agent. The type of Regular Loan made by the Lenders in connection with the refunding of any Swing Line Loan shall be the type of Loan identified by the Companies in the Loan Request for such Swing Line Loan as being scheduled to repay such Swing Line Loan. (2) After the occurrence of any Event of Default or Potential Default, each Lender (other than First Union) shall irrevocably and unconditionally purchase from First Union, without recourse or warranty (except that such outstanding Swing Line Loans in fact were made in accordance with the provisions of this Agreement, and are not subject to any Liens arising out of any act of First Union), an undivided interest and participation in any Swing Line Loans then outstanding, by paying to First Union, in dollars immediately available to First Union, an amount equal to such Lender's Percentage Share of such Swing Line Loans, and thereafter, except as otherwise provided in the second succeeding sentence, the Lenders' respective interests in such Swing Line Loans, and the remaining interest of First Union in such Swing Line Loans, shall in all respects be treated as Regular Loans under this Agreement of the type identified by the Companies in the Loan Request for such Swing Line Loan as being scheduled to repay such Swing Line Loan, but such Swing Line Loans shall continue to be evidenced by the Note which evidences the Swing Line Loans. If any Lender does not pay any amount which it is required to pay to First Union, First Union shall be entitled to recover such amount on demand from such Lender, together with interest thereon, at the Applicable Corporate Rate, for each day from the date of such demand, if made prior to 2:00 p.m. (Charlotte, North Carolina time) on any Business Day, or, if made after 2:00 p.m. from the next Business Day following the date of such demand, until the date such amount is paid to First Union by such Lender. If such Lender does not pay such amount forthwith upon First Union's demand therefor, and until such time as such Lender makes the required payment, First Union shall be deemed to continue to have outstanding a Swing Line Loan in the amount of such unpaid participation obligation for all purposes of this Agreement other than those provisions requiring such other Lender to purchase a participation therein. First Union shall upon the request of such Lender, furnish to such Lender a participation certificate evidencing the participation purchased by such Lender.

Refunding of Swing Line Loans. Upon demand by First Union, ----------------------------- Swing Line Loans shall be refunded or participations therein acquired, as applicable, in accordance with the following provisions. Such refunding or acquisition will occur no later than 4:00 p.m. (Charlotte, North Carolina time) on the day of such demand if made before 2:00 p.m. (Charlotte, North Carolina time) and no later than 12:00 noon (Charlotte, North Carolina time) on the next succeeding Business Day if demand therefor is made after 2:00 p.m. (Charlotte, North Carolina time). (1) Prior to the occurrence of an Event of Default or Potential Default, Swing Line Loans shall be refunded by the LendersLenders on a weekly basis no later than 4:00 p.m. (Charlotte, North Carolina time) on each Tuesday (or if not a business day, the next business day). First Union will provide written notice of all amounts owed by the Lenders by 2:00 p.m. (Charlotte, North Carolina time) on the day such refunding is to occur. Such refundings shall be made by the Lenders in accordance with their respective Percentage Shares and shall, thereafter, be reflected as actual Regular Loans of the Lenders on the books and records of the Administrative Agent. The type of Regular Loan made by the Lenders in connection with the refunding of any Swing Line Loan shall be the type of Loan identified by the Companies in the Loan Request for such Swing Line Loan as being scheduled to repay such Swing Line Loan. (2) After Upon demand by FUNB after the occurrence of any Event of Default or Potential Default, each Lender (other than First UnionFUNB) shall irrevocably and unconditionally purchase from First UnionFUNB, without recourse or warranty (except that such outstanding Swing Line Loans in fact were made in accordance with the provisions of this Agreement, and are not subject to any Liens arising out of any act of First UnionFUNB), an undivided interest and participation in any the designated Swing Line Loans then outstanding, by paying to First UnionFUNB, in dollars Dollars immediately available to First Union, FUNB an amount equal to such Lender's Percentage Share of such Swing Line Loans, and thereafter, except as otherwise provided in the second succeeding sentence, the Lenders' Lender's respective interests in such Swing Line Loans, and the remaining interest of First Union FUNB in such Swing Line Loans, shall in all respects be treated as Regular Loans under this Agreement of the type identified by the Companies in the Loan Request for such Swing Line Loan as being scheduled to repay such Swing Line LoanAgreement, but such Swing Line Loans shall continue to be evidenced by the Note which evidences the Swing Line Loans, provided that the obligation of any Lender to purchase such participation in a Swing Loan shall be subject to the provisions of Paragraph 1(c)(4). If any Lender does not pay any amount which it is required to pay to First UnionFUNB after giving effect to the provisions of Paragraph 1(c)(4), First Union FUNB shall be entitled to recover such amount on demand from such Lender, together with interest thereon, at the Applicable Corporate Federal Funds Rate, for each day from the date of such demand, if made prior to 2:00 p.m. (Charlotte, North Carolina time) on any Business Day, or, if made after 2:00 p.m. from the next Business Day following the date of such demand, until the date such amount is paid to First Union by such Lender. If such Lender does not pay such amount forthwith upon First Union's demand therefor, and until such time as such Lender makes the required payment, First Union shall be deemed to continue to have outstanding a Swing Line Loan in the amount of such unpaid participation obligation for all purposes of this Agreement other than those provisions requiring such other Lender to purchase a participation therein. First Union shall upon the request of such Lender, furnish to such Lender a participation certificate evidencing the participation purchased by such Lender.2:00