Common use of Repayment of U.S. Swingline Loans Clause in Contracts

Repayment of U.S. Swingline Loans. Airgas promises to pay the principal amount of all U.S. Swingline Loans on the earlier of (A) the maturity date agreed to by the U.S. Swingline Lender and Airgas with respect to such U.S. Swingline Loan (which maturity date shall not be a date more than thirty (30) days from the date of advance thereof) or (B) the Maturity Date. The U.S. Swingline Lender may, at any time, in its sole discretion, by written notice to Airgas and the U.S. Revolving Lenders, demand repayment of its U.S. Swingline Loans by way of a U.S. Revolving Loan advance, in which case Airgas shall be deemed to have requested a U.S. Revolving Loan advance comprised solely of U.S. Base Rate Loans in the amount of such U.S. Swingline Loans; provided, however, that any such demand (if not made prior thereto) shall be deemed to have been given one Business Day prior to the Maturity Date and on the date of the occurrence of any Event of Default described in Section 9.1 (or if such date is not a Business Day, the first Business Day succeeding such date) and upon acceleration of the Obligations and the exercise of remedies in accordance with the provisions of Section 9.2. Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage of each such U.S. Revolving Loan in the amount, in the manner and on the date specified in the preceding sentence notwithstanding (I) the amount of such borrowing may not comply with the minimum amount for advances of U.S. Revolving Loans otherwise required hereunder, (II) whether any conditions specified in Section 5.2 are then satisfied, (III) whether a Default or an Event of Default then exists, (IV) failure of any such request or deemed request for a U.S. Revolving Loan to be made by the time otherwise required hereunder, (V) whether the date of such borrowing is a date on which U.S. Revolving Loans are otherwise permitted to be made hereunder or (VI) any termination of the Commitments relating thereto immediately prior to or contemporaneously with such borrowing. In the event that any U.S. Revolving Loan cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to Airgas), then each U.S. Revolving Lender hereby agrees that it shall forthwith purchase (as of the date such borrowing would otherwise have occurred, but adjusted for any payments received from Airgas on or after such date and prior to such purchase) from the U.S. Swingline Lender such participations in the outstanding U.S. Swingline Loans as shall be necessary to cause each U.S. Revolving Lender to share in such U.S. Swingline Loans ratably based upon its Applicable Percentage of the U.S. Revolving Committed Amount, provided that (A) all interest payable on the U.S. Swingline Loans shall be for the account of the U.S. Swingline Lender until the date as of which the respective participation is purchased and (B) at the time any purchase of participations pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required to pay to the U.S. Swingline Lender, to the extent not paid to the U.S. Swingline Lender by Airgas in accordance with the terms of Section 2.3(c)(ii), interest on the principal amount of participation purchased for each day from and including the day upon which such borrowing would otherwise have occurred to but excluding the date of payment for such participation, at the rate equal to the Federal Funds Rate.

Repayment of U.S. Swingline Loans. Airgas promises to pay the principal amount of all U.S. Swingline Loans on the earlier of (A) the maturity date agreed to by the U.S. Swingline Lender and Airgas with respect to such The Company shall repay each U.S. Swingline Loan (which maturity date shall not be a date more than thirty (30) days from on the date of advance thereof) or (B) the Revolving/TLA Maturity Date, unless accelerated sooner pursuant to Section 7.2. The U.S. Swingline Lender may, at any time, in its sole discretion, by written notice to Airgas the Company and the U.S. Revolving LendersAdministrative Agent, demand repayment of its U.S. Swingline Loans by way of a U.S. Revolving Loan advanceborrowing, in which case Airgas the Company shall be deemed to have requested a U.S. Revolving Loan advance borrowing comprised solely entirely of U.S. Alternate Base Rate Loans in the amount Dollar Amount of such U.S. Swingline Loans; provided, however, that that, in the following circumstances, any such demand (if not made prior thereto) shall also be deemed to have been given one Business Day prior to each of (A) the Revolving/TLA Maturity Date and on the date of Date, (B) the occurrence of any Event of Default described in Section 9.1 7.1(g), (or if such date is not a Business Day, the first Business Day succeeding such dateC) and upon acceleration of the Credit Party Obligations hereunder, whether on account of an Event of Default described in Section 7.1(g) or any other Event of Default and (D) the exercise of remedies in accordance with the provisions of Section 9.27.2 (each such U.S. Revolving Loan borrowing made on account of any such deemed request therefor as provided herein being hereinafter referred to as a “Mandatory U.S. Borrowing”). Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage of each such U.S. Revolving Loan Loans promptly upon any such request or deemed request on account of each Mandatory U.S. Borrowing in the amount, Dollar Amount and in the manner and on the date specified in the preceding sentence and on the same such date notwithstanding (I1) the amount of such borrowing the Mandatory U.S. Borrowing may not comply with the minimum amount for advances borrowings of U.S. Revolving Loans otherwise required hereunder, (II2) whether any conditions specified in Section 5.2 4.2 are then satisfied, except for the condition specified in Section 4.2(c)(i), (III3) whether a Default or an Event of Default then exists, (IV4) failure of any such request or deemed request for a U.S. Revolving Loan Loans to be made by the time otherwise required hereunderin Section 2.1(b)(i), (V5) whether the date of such borrowing is a date on which Mandatory U.S. Borrowing, or (6) any reduction in the U.S. Revolving Loans are otherwise permitted to be made hereunder Committed Amount or (VI) any termination of the U.S. Revolving Commitments relating thereto immediately prior to such Mandatory U.S. Borrowing or contemporaneously with such borrowingtherewith. In the event that any Mandatory U.S. Revolving Loan Borrowing cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to Airgasthe Company), then each U.S. Revolving Lender hereby agrees that it shall forthwith purchase (as of the date such borrowing the Mandatory U.S. Borrowing would otherwise have occurred, but adjusted for any payments received from Airgas the Company on or after such date and prior to such purchase) from the U.S. Swingline Lender such participations in the outstanding U.S. Swingline Loans as shall be necessary to cause each U.S. Revolving such Lender to share in such U.S. Swingline Loans ratably based upon its Applicable respective U.S. Revolving Commitment Percentage (determined before giving effect to any termination of the U.S. Revolving Committed Amount, Commitments pursuant to Section 7.2); provided that (Ax) all interest payable on the U.S. Swingline Loans shall be for the account of the U.S. Swingline Lender until the date as of which the respective participation is purchased purchased, and (By) at the time any purchase of participations pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required to pay to the U.S. Swingline Lender, to the extent not paid to the U.S. Swingline Lender by Airgas in accordance with the terms of Section 2.3(c)(ii), interest on the principal amount of such participation purchased for each day from and including the day upon which such borrowing the Mandatory U.S. Borrowing would otherwise have occurred to but excluding the date of payment for such participation, at the rate equal to to, if paid within two (2) Business Days of the date of the Mandatory U.S. Borrowing, the Federal Funds Effective Rate, and thereafter at a rate equal to the Alternate Base Rate.

Repayment of U.S. Swingline Loans. Airgas promises to pay the principal amount of all U.S. Swingline Loans on the earlier of (A) the maturity date agreed to by the U.S. Swingline Lender and Airgas with respect to such The Company shall repay each U.S. Swingline Loan (which maturity date shall not be a date more than thirty (30) days from on the date of advance thereof) or (B) the Revolving/Term Loan A Maturity Date, unless accelerated sooner pursuant to Section 7.2. The U.S. Swingline Lender may, at any time, in its sole discretion, by written notice to Airgas the Company and the U.S. Revolving LendersAdministrative Agent, demand repayment of its U.S. Swingline Loans by way of a U.S. Revolving Loan advanceborrowing, in which case Airgas the Company shall be deemed to have requested a U.S. Revolving Loan advance borrowing comprised solely entirely of U.S. Alternate Base Rate Loans in the amount Dollar Amount of such U.S. Swingline Loans; provided, however, that that, in the following circumstances, any such demand (if not made prior thereto) shall also be deemed to have been given one Business Day prior to each of (A) the Revolving/Term Loan A Maturity Date and on the date of Date, (B) the occurrence of any Event of Default described in Section 9.1 7.1(g), (or if such date is not a Business Day, the first Business Day succeeding such dateC) and upon acceleration of the Credit Party Obligations hereunder, whether on account of an Event of Default described in Section 7.1(g) or any other Event of Default and (D) the exercise of remedies in accordance with the provisions of Section 9.27.2 (each such U.S. Revolving Loan borrowing made on account of any such deemed request therefor as provided herein being hereinafter referred to as a “Mandatory U.S. Borrowing”). Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage of each such U.S. Revolving Loan Loans promptly upon any such request or deemed request on account of each Mandatory U.S. Borrowing in the amount, Dollar Amount and in the manner and on the date specified in the preceding sentence and on the same such date notwithstanding (I1) the amount of such borrowing the Mandatory U.S. Borrowing may not comply with the minimum amount for advances borrowings of U.S. Revolving Loans otherwise required hereunder, (II2) whether any conditions specified in Section 5.2 4.2 are then satisfied, except for the condition specified in Section 4.2(c)(i), (III3) whether a Default or an Event of Default then exists, (IV4) failure of any such request or deemed request for a U.S. Revolving Loan Loans to be made by the time otherwise required hereunderin Section 2.1(b)(i), (V5) whether the date of such borrowing is a date on which Mandatory U.S. Borrowing, or (6) any reduction in the U.S. Revolving Loans are otherwise permitted to be made hereunder Committed Amount or (VI) any termination of the U.S. Revolving Commitments relating thereto immediately prior to such Mandatory U.S. Borrowing or contemporaneously with such borrowingtherewith. In the event that any Mandatory U.S. Revolving Loan Borrowing or other deemed request cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to Airgasthe Company), then each U.S. Revolving Lender hereby agrees that it shall forthwith purchase (as of the date such borrowing the Mandatory U.S. Borrowing or other deemed request would otherwise have occurred, but adjusted for any payments received from Airgas the Company on or after such date and prior to such purchase) from the U.S. Swingline Lender such participations in the outstanding U.S. Swingline Loans as shall be necessary to cause each U.S. Revolving such Lender to share in such U.S. Swingline Loans ratably based upon its Applicable respective U.S. Revolving Commitment Percentage (determined before giving effect to any termination of the U.S. Revolving Committed Amount, Commitments pursuant to Section 7.2); provided that (Ax) all interest payable on the U.S. Swingline Loans shall be for the account of the U.S. Swingline Lender until the date as of which the respective participation is purchased purchased, and (By) at the time any purchase of participations pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required to pay to the U.S. Swingline Lender, to the extent not paid to the U.S. Swingline Lender by Airgas in accordance with the terms of Section 2.3(c)(ii), interest on the principal amount of such participation purchased for each day from and including the day upon which such borrowing the Mandatory U.S. Borrowing would otherwise have occurred to but excluding the date of payment for such participation, at the rate equal to to, if paid within two (2) Business Days of the date of the Mandatory U.S. Borrowing, the Federal Funds Effective Rate, and thereafter at a rate equal to the Alternate Base Rate.

Repayment of U.S. Swingline Loans. Airgas promises to pay the principal amount of all U.S. Swingline Loans on the earlier of (A) the maturity date agreed to by the U.S. Swingline Lender and Airgas with respect to such The Company shall repay each U.S. Swingline Loan (which maturity date shall not be a date more than thirty (30) days from on the date of advance thereof) or (B) the Revolving/Term Loan Maturity Date, unless accelerated sooner pursuant to Section 7.2. The U.S. Swingline Lender may, at any time, in its sole discretion, by written notice to Airgas the Company and the U.S. Revolving LendersAdministrative Agent, demand repayment of its U.S. Swingline Loans by way of a U.S. Revolving Loan advanceborrowing, in which case Airgas the Company shall be deemed to have requested a U.S. Revolving Loan advance borrowing comprised solely entirely of U.S. Alternate Base Rate Loans in the amount Dollar Amount of such U.S. Swingline Loans; provided, however, that that, in the following circumstances, any such demand (if not made prior thereto) shall also be deemed to have been given one Business Day prior to each of (A) the Revolving/Term Loan Maturity Date and on the date of Date, (B) the occurrence of any Event of Default described in Section 9.1 7.1(g), (or if such date is not a Business Day, the first Business Day succeeding such dateC) and upon acceleration of the Credit Party Obligations hereunder, whether on account of an Event of Default described in Section 7.1(g) or any other Event of Default and (D) the exercise of remedies in accordance with the provisions of Section 9.27.2 (each such U.S. Revolving Loan borrowing made on account of any such deemed request therefor as provided herein being hereinafter referred to as a “Mandatory U.S. Borrowing”). Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage of each such U.S. Revolving Loan Loans promptly upon any such request or deemed request on account of each Mandatory U.S. Borrowing in the amount, Dollar Amount and in the manner and on the date specified in the preceding sentence and on the same such date notwithstanding (I1) the amount of such borrowing the Mandatory U.S. Borrowing may not comply with the minimum amount for advances borrowings of U.S. Revolving Loans otherwise required hereunder, (II2) whether any conditions specified in Section 5.2 4.2 are then satisfied, except for the condition specified in Section 4.2(c)(i), (III3) whether a Default or an Event of Default then exists, (IV4) failure of any such request or deemed request for a U.S. Revolving Loan Loans to be made by the time otherwise required hereunderin Section 2.1(b)(i), (V5) whether the date of such borrowing is a date on which Mandatory U.S. Borrowing, or (6) any reduction in the U.S. Revolving Loans are otherwise permitted to be made hereunder Committed Amount or (VI) any termination of the U.S. Revolving Commitments relating thereto immediately prior to such Mandatory U.S. Borrowing or contemporaneously with such borrowingtherewith. In the event that any Mandatory U.S. Revolving Loan Borrowing or other deemed request cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to Airgasthe Company), then each U.S. Revolving Lender hereby agrees that it shall forthwith purchase (as of the date such borrowing the Mandatory U.S. Borrowing or other deemed request would otherwise have occurred, but adjusted for any payments received from Airgas the Company on or after such date and prior to such purchase) from the U.S. Swingline Lender such participations in the outstanding U.S. Swingline Loans as shall be necessary to cause each U.S. Revolving such Lender to share in such U.S. Swingline Loans ratably based upon its Applicable respective U.S. Revolving Commitment Percentage (determined before giving effect to any termination of the U.S. Revolving Committed Amount, Commitments pursuant to Section 7.2); provided that (Ax) all interest payable on the U.S. Swingline Loans shall be for the account of the U.S. Swingline Lender until the date as of which the respective participation is purchased purchased, and (By) at the time any purchase of participations pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required to pay to the U.S. Swingline Lender, to the extent not paid to the U.S. Swingline Lender by Airgas in accordance with the terms of Section 2.3(c)(ii), interest on the principal amount of such participation purchased for each day from and including the day upon which such borrowing the Mandatory U.S. Borrowing would otherwise have occurred to but excluding the date of payment for such participation, at the rate equal to to, if paid within two (2) Business Days of the date of the Mandatory U.S. Borrowing, the Federal Funds Effective Rate, and thereafter at a rate equal to the Alternate Base Rate.

Repayment of U.S. Swingline Loans. Airgas promises to pay the principal amount of all U.S. Swingline Loans on the earlier of (A) the maturity date agreed to by the U.S. Swingline Lender and Airgas with respect to such U.S. Swingline Loan (which maturity date shall not be a date more than thirty (30) days from the date of advance thereof) or (B) the Maturity Termination Date. The U.S. Swingline Lender may, at any time, in its sole discretion, by written notice to Airgas and the U.S. Revolving Lenders, demand repayment of its U.S. Swingline Loans by way of a U.S. Revolving Loan advance, in which case Airgas shall be deemed to have requested a U.S. Revolving Loan advance comprised solely of U.S. Base Rate Loans in the amount of such U.S. Swingline Loans; provided, however, that any such demand (if not made prior thereto) shall be deemed to have been given one Business Day prior to the Maturity Termination Date and on the date of the occurrence of any Event of Default described in Section 9.1 (or if such date is not a Business Day, the first Business Day succeeding such date) and upon acceleration of the Obligations indebtedness hereunder and the exercise of remedies in accordance with the provisions of Section 9.2. Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage pro rata share of each such U.S. Revolving Loan in the amount, in the manner and on the date specified in the preceding sentence notwithstanding (I) the amount of such borrowing may not comply with the minimum amount for advances of U.S. Revolving Loans otherwise required hereunder, (II) whether any conditions specified in Section 5.2 are then satisfied, (III) whether a Default or an Event of Default then exists, (IV) failure of any such request or deemed request for a U.S. Revolving Loan to be made by the time otherwise required hereunder, (V) whether the date of such borrowing is a date on which U.S. Revolving Loans are otherwise permitted to be made hereunder or (VI) any termination of the Commitments relating thereto immediately prior to or contemporaneously with such borrowing. In the event that any U.S. Revolving Loan cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to Airgas), then each U.S. Revolving Lender hereby agrees that it shall forthwith purchase (as of the date such borrowing would otherwise have occurred, but adjusted for any payments received from Airgas on or after such date and prior to such purchase) from the U.S. Swingline Lender such participations in the outstanding U.S. Swingline Loans as shall be necessary to cause each U.S. Revolving Lender to share in such U.S. Swingline Loans ratably based upon its Applicable U.S. Revolving Commitment Percentage of the U.S. Revolving Committed AmountAmount (determined before giving effect to any termination of the Commitments pursuant to Section 9.2), provided that (A) all interest payable on the U.S. Swingline Loans shall be for the account of the U.S. Swingline Lender until the date as of which the respective participation is purchased and (B) at the time any purchase of participations pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required to pay to the U.S. Swingline Lender, to the extent not paid to the U.S. Swingline Lender by Airgas in accordance with the terms of Section 2.3(c)(ii)subsection (c)(ii) hereof, interest on the principal amount of participation purchased for each day from and including the day upon which such borrowing would otherwise have occurred to but excluding the date of payment for such participation, at the rate equal to the Federal Funds Rate.