Common use of Relationship with the Revolving Credit Facility Clause in Contracts

Relationship with the Revolving Credit Facility. (A) The Revolving Credit Facility may be used by way of Swingline Advances. The Swingline Facility is not independent of the Revolving Credit Facility. (B) Notwithstanding any other term of this Agreement, a Swingline Lender is only obliged to participate in a Revolving Credit Advance or a Swingline Advance to the extent that it would not result in the participation by it and its affiliate that is a Lender in such Revolving Credit Advances and Swingline Advances exceeding its Revolving Credit Commitment or that of its affiliate that is a Lender. (C) Where, but for the operation of paragraph (B) above, a Lender’s participation (including the participation of its affiliate that is a Swingline Lender hereunder) in the Revolving Credit Advances and Swingline Advances would have exceeded its Revolving Credit Commitment, the excess will be apportioned among the other Lenders participating in the relevant Revolving Credit Advance pro rata according to their relevant Revolving Credit Commitments. This calculation will be applied as often as necessary until the Revolving Credit Advance is apportioned among the relevant Lenders in a manner consistent with paragraph (B) above.

Appears in 5 contracts

Samples: Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.)

AutoNDA by SimpleDocs

Relationship with the Revolving Credit Facility. (Ai) The Revolving Credit Facility may be used by way of Swingline Advances. The Swingline Facility is not independent of the Revolving Credit Facility. (Bii) Notwithstanding any other term of this Agreement, a Swingline Lender is only obliged to participate in a Revolving Credit Advance or a Swingline Advance to the extent that it would not result in the participation by it and its affiliate that is a Revolving Credit Lender in such Revolving Credit Advances and Swingline Advances exceeding its Revolving Credit Commitment or that of its affiliate that is a Revolving Credit Lender. (Ciii) Where, but for the operation of paragraph (Bii) above, a Revolving Credit Lender’s participation (including the participation of its affiliate that is a Swingline Lender hereunder) in the Revolving Credit Advances and Swingline Advances would have exceeded its Revolving Credit Commitment, the excess will be apportioned among the other Revolving Credit Lenders participating in the relevant Revolving Credit Advance pro rata according to their relevant Revolving Credit Commitments. This calculation will be applied as often as necessary until the Revolving Credit Advance is apportioned among the relevant Revolving Credit Lenders in a manner consistent with paragraph (Bii) above.

Appears in 2 contracts

Samples: Credit Agreement (Philip Morris International Inc.), Credit Agreement (Altria Group Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!