Common use of Refunding of Swing Line Loans Clause in Contracts

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall on behalf of the Borrower (and Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the Borrower (which shall be a Prime Rate Loan) in an amount equal to such Revolving Lender’s Pro Rata Share of the principal amount of the Swing Line Loan (the “Refunded Swing Line Loan”) outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (h) or 9.1 (i) shall have occurred (in which event the procedures of Section 2.1(c)(iv) shall apply), and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 p.m. (Manchester, New Hampshire time), in immediately available funds on the same Business Day on which such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Presstek Inc /De/)

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Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall may on behalf of the Borrower (and Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the Borrower (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the Swing Line Loan (the "Refunded Swing Line Loan") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (h8.1(h) or 9.1 (i8.1(i) shall have occurred (in which event the procedures of Section 2.1(c)(iv1.1(c)(iv) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s its Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 3:00 p.m. (Manchester, New Hampshire York time), in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the BorrowerLoan.

Appears in 1 contract

Samples: Credit Agreement (American Physician Partners Inc)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall on behalf of the Borrower Borrowers (and each Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the Borrower Borrowers (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the Swing Line Loan (the "Refunded Swing Line Loan") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 8.1 (h) or 9.1 8.1 (i) shall have occurred (in which event the procedures of Section 2.1(c)(iv1.1 (d)(iv) shall apply), and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s 's Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 2:00 p.m. (Manchester, New Hampshire time), in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Wpi Group Inc)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall may on behalf of the Borrower (and Borrower which hereby irrevocably authorizes directs the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the Borrower (which shall be a Prime Rate Loan) Loan in an amount equal to such Revolving Lender’s Pro Rata Share 's Commitment Percentage of the principal amount of the Swing Line Loan Loans (the “Refunded Swing Line Loan”"REFUNDED SWING LINE LOANS") outstanding on the date such notice Notice of Borrowing is given; PROVIDED, HOWEVER, that such notice shall be deemed to have automatically been given upon the occurrence of a Bankruptcy Event of Default. Unless any a Bankruptcy Event of the events described in Sections 9.1 (h) or 9.1 (i) Default shall have occurred (in which event the procedures of Section 2.1(c)(ivSECTION 2.2(e) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance Loan are then satisfied, each Revolving Lender shall disburse directly make the proceeds of its Revolving Loan available to Administrative Agent, such Revolving Lender’s Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, Lender at its office specified in SCHEDULE 9.3 prior to 4:00 p.m. (Manchester11:00 A.M., New Hampshire York City time), in funds immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances Loans shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the BorrowerLoans.

Appears in 1 contract

Samples: Credit Agreement (Hon Industries Inc)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall on behalf of the Borrower (and Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the Borrower (which shall be a Prime Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the Swing Line Loan (the "Refunded Swing Line Loan") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (h) or 9.1 (i) shall have occurred (in which event the procedures of Section 2.1(c)(iv) shall apply), and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s 's Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 p.m. (Manchester, New Hampshire time), in immediately available funds on the same Business Day on which such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Presstek Inc /De/)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall may on behalf of the Borrower (and Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the Borrower (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the Swing Line Loan (the "Refunded Swing Line Loan") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (h8.1(h) or 9.1 (i8.1(i) shall have occurred (in which event the procedures of Section 2.1(c)(iv1.1(e)(iv) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s its Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 2:00 p.m. (Manchester, New Hampshire Chicago time), in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Code Alarm Inc)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall may on behalf of the Borrower Borrowers (and each Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the Borrower Borrowers (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the Swing Line Loan (the “Refunded Swing Line Loan”"REFUNDED SWING LINE LOAN") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (hSECTIONS 8.1(g), 8.1(h) or 9.1 (i8.1(i) shall have occurred (in which event the procedures of Section 2.1(c)(ivSECTION 1.1(c)(iv) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s its Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 2:00 p.m. (Manchester, New Hampshire Chicago time), in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the BorrowerLoan.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

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Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, but not less frequently than weekly, shall on behalf of the any Borrower (and each Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the such Borrower (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the such Borrower's Swing Line Loan (the "Refunded Swing Line Loan") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (h8.1(h) or 9.1 (i8.1(i) shall have occurred (in which event the procedures of Section 2.1(c)(iv1.1(b)(iv) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s Agent its Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, Lender prior to 4:00 p.m. 12:00 noon (Manchester, New Hampshire California time), ) in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the applicable Borrower.. (iv)

Appears in 1 contract

Samples: Credit Agreement (Itron Inc /Wa/)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, but not less frequently than weekly, shall on behalf of the any Borrower (and each Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the such Borrower (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the such Borrower's Swing Line Loan (the “Refunded Swing Line Loan”"REFUNDED SWING LINE LOAN") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (hSECTIONS 8.1(h) or 9.1 (i8.1(i) shall have occurred (in which event the procedures of Section 2.1(c)(ivSECTION 1.1(b)(iv) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s Agent its Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, Lender prior to 4:00 p.m. 12:00 noon (Manchester, New Hampshire California time), ) in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Track N Trail Inc)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, shall may on behalf of the any Borrower (and each Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the such Borrower (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the such Borrower's Swing Line Loan (the "Refunded Swing Line Loan") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (h8.1(h) or 9.1 (i8.1(i) shall have occurred (in which event the procedures of Section 2.1(c)(iv1.1(c)(iv) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s its Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 2:00 p.m. (Manchester, New Hampshire Chicago time), in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Verdant Brands Inc)

Refunding of Swing Line Loans. The Swing Line Lender, at any time and from time to time in its sole and absolute discretion, but no less frequently than once weekly, shall on behalf of the either Borrower (and each Borrower hereby irrevocably authorizes the Swing Line Lender to so act on its behalf) request each Revolving Lender (including the Swing Line Lender) to make a Revolving Credit Advance to the such Borrower (which shall be a Prime an Index Rate Loan) in an amount equal to such Revolving Lender’s 's Pro Rata Share of the principal amount of the such Borrower's Swing Line Loan (the "Refunded Swing Line Loan") outstanding on the date such notice is given. Unless any of the events described in Sections 9.1 (h8.1(h) or 9.1 (i8.1(i) shall have occurred (in which event the procedures of Section 2.1(c)(iv1.1(b)(iv) shall apply), ) and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Credit Advance are then satisfied, each Revolving Lender shall disburse directly to Administrative Agent, such Revolving Lender’s its Pro Rata Share of a Revolving Credit Advance on behalf of the Swing Line Lender, prior to 4:00 3:00 p.m. (Manchester, New Hampshire York time), in immediately available funds on the same Business Day on which next succeeding the date such notice is given. The proceeds of such Revolving Credit Advances shall be immediately paid to the Swing Line Lender and applied to repay the Refunded Swing Line Loan of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Hockey Co)

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