Common use of Requests for Swing Loans Clause in Contracts

Requests for Swing Loans. The Borrower shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. Within 30 minutes after receiving such notice, the Administrative Agent shall quote an interest rate to the Borrower at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest as provided in Section 1.7(b)(i) above. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 2 contracts

Samples: Credit Agreement (Lamson & Sessions Co), Credit Agreement (Lamson & Sessions Co)

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Requests for Swing Loans. The Borrower Company shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a Borrower the Company requests that any Swing Loan be made, made of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Administrative Agent Swing Line Lender shall in its discretion quote an interest rate to the Borrower Company at which the Administrative Agent Swing Line Lender would be willing to make such Swing Loan available to the Borrower Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower Company does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower Company for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Domestic Rate Loans under the Revolving Credit to the Domestic Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower Company on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one dayIllinois.

Appears in 2 contracts

Samples: Credit Agreement (Emcor Group Inc), Credit Agreement (Emcor Group Inc)

Requests for Swing Loans. The Borrower shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a the Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. Within 30 thirty (30) minutes after receiving such notice, the Administrative Agent shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Eurodollar Loans to the Federal Funds Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the Borrower's written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 2 contracts

Samples: Credit Agreement (Apac Teleservices Inc), Credit Agreement (Apac Teleservices Inc)

Requests for Swing Loans. The Borrower Company shall give the Administrative Agent prior notice (which may be written or oral) ), no later than 12:00 Noon (Chicago time) on the date upon which a Borrower the Company requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Administrative Agent Swing Line Lender shall in its discretion quote an interest rate to the Borrower Company at which the Administrative Agent Swing Line Lender would be willing to make such Swing Loan available to the Borrower Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower Company does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower Company for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to the Base Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower Company on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one dayIllinois.

Appears in 2 contracts

Samples: Credit Agreement (EMCOR Group, Inc.), Credit Agreement (Emcor Group Inc)

Requests for Swing Loans. The Borrower shall give the Administrative Agent Hxxxxx prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a the Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. Within 30 thirty (30) minutes after receiving such notice, the Administrative Agent Hxxxxx shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent Hxxxxx would be willing to make such Swing Loan available to the Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Hxxxxx' Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative Agent's Hxxxxx' Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Hxxxxx' Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest as provided in Section 1.7(b)(i) aboveat the Domestic Rate. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent)Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent Hxxxxx to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent Hxxxxx shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Bell Sports Corp)

Requests for Swing Loans. The Borrower shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a the Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. Within 30 minutes after receiving such notice, the Administrative Agent shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's ’s Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower does not so immediately accept the Administrative Agent's ’s Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's ’s Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the sum of the Applicable Margin plus the Base Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent)Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Federal Signal Corp /De/)

Requests for Swing Loans. The Borrower shall give the Administrative Agent Xxxxxx Bank prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a the Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. Within 30 thirty (30) minutes after receiving such notice, the Administrative Agent Xxxxxx Bank shall quote an interest rate determined in its discretion to the Borrower at which the Administrative Agent Xxxxxx Bank would be willing to make such Swing Loan available to the Borrower for the such Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted RateXXXXXX BANK'S QUOTED RATE"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative AgentXxxxxx Bank's Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative AgentXxxxxx Bank's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest as provided in Section 1.7(b)(i) abovenot be made. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent)Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent Xxxxxx Bank to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent Xxxxxx Bank shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Nash Finch Co)

Requests for Swing Loans. The Borrower Company shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a Borrower the Company requests that any Swing Loan be made, made of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Administrative Agent Swing Line Lender shall in its discretion quote an interest rate to the Borrower Company at which the Administrative Agent Swing Line Lender would be willing to make such Swing Loan available to the Borrower Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower Company does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower Company for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Domestic Rate Loans under the U.S. Revolving Facility to the Domestic Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower Company on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one dayIllinois.

Appears in 1 contract

Samples: Credit Agreement (Emcor Group Inc)

Requests for Swing Loans. The Borrower Company shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a Borrower the Company requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Administrative Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Administrative Agent Swing Line Lender shall in its discretion quote an interest rate to the Borrower Company at which the Administrative Agent Swing Line Lender would be willing to make such Swing Loan available to the Borrower Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's the “Quoted Rate"). The Borrower Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower Company does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower Company for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the Revolving Credit to the Base Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower Company on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or Illinois, by wire transfer of funds pursuant depositing such proceeds to the written instructions credit of the Borrower to Company’s operating account maintained with the Administrative Agent)Agent or as the Company and the Administrative Agent may otherwise agree. Anything contained in the foregoing to the contrary notwithstanding (i) notwithstanding, the obligation undertaking of the Administrative Agent Swing Line Lender to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) provided that the Swing Line Lender shall be entitled to assume that the conditions precedent to an advance of any Swing Loan have been satisfied unless notified to the contrary by the Administrative Agent shall not be obligated to make more than one Swing Loan during any one dayor the Required Lenders).

Appears in 1 contract

Samples: Credit Agreement (Amcol International Corp)

Requests for Swing Loans. The Borrower Company shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a Borrower the Company requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. Within 30 minutes after receiving such notice, the Administrative Agent shall in its discretion quote an interest rate to the Borrower Company at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower Company does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower Company for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the Revolving Credit to the Base Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower Company on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or Illinois, by wire transfer of funds pursuant depositing such proceeds to the written instructions credit of the Borrower to Company's operating account maintained with the Administrative Agent)Agent or as the Company and the Administrative Agent may otherwise agree. Anything contained in the foregoing to the contrary notwithstanding notwithstanding, (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Amcol International Corp)

Requests for Swing Loans. The Borrower shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. Within 30 minutes after receiving such notice, the Administrative Agent shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's ’s Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower does not so immediately accept the Administrative Agent's ’s Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's ’s Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum equal to the Base Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent)Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Usfreightways Corp)

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Requests for Swing Loans. The Borrower shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon 2:00 p.m. (Chicago time) on the date upon which a the Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. Within 30 thirty (30) minutes after receiving such notice, the Administrative Agent shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted RateAGENT'S QUOTED RATE"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans to the Base Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the Borrower's written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Apac Customer Service Inc)

Requests for Swing Loans. The Borrower shall give the Administrative Agent Xxxxxx prior notice (which may be written or oral) no later than 12:00 Noon 3:00 p.m. (Chicago time) on the date upon which a the Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. Within 30 minutes after receiving such notice, the Administrative Agent Xxxxxx shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent Xxxxxx would be willing to make such Swing Loan available to the Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Xxxxxx' Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative Agent's Xxxxxx' Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Xxxxxx' Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest as provided in Section 1.7(b)(i) aboveat the Domestic Rate. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent Xxxxxx in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent)Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent Xxxxxx to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent Xxxxxx shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Gallagher Arthur J & Co)

Requests for Swing Loans. The Borrower Company shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (i) 11:30 a.m. (Chicago time) on the date upon which a Borrower the Company requests that any Swing Loan bearing interest at the Quoted Rate be made, and (ii) 3:00 p.m. (Chicago time) on the date upon which the Company requests that any Swing Loan that is a Base Rate Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. Within 30 minutes after The Agent shall promptly advise the Swing Bank of any such notice received from the Company. After receiving such notice, the Administrative Agent Swing Bank shall in its discretion quote an interest rate to the Borrower Company at which the Administrative Agent Swing Bank would be willing to make such Swing Loan available to the Borrower Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower Company does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower Company for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest as provided at a rate per annum equal to the lesser of the rate set forth in clause (i) and (ii)(A) of Section 1.7(b)(i1.20(b) above. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower Company on the date so requested at requested, by depositing such proceeds to the offices credit of the Administrative Company’s operating account maintained with the Agent in Chicago, Illinois (or by wire transfer of funds pursuant to as the written instructions of the Borrower to the Administrative Agent)Company may direct. Anything contained in the foregoing to the contrary notwithstanding (i) notwithstanding, the Swing Bank shall have no obligation of the Administrative Agent to make Swing Loans shall be subject to even if the Borrowers are in compliance with all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one dayAgreement.

Appears in 1 contract

Samples: Secured Credit Agreement (Pilgrims Pride Corp)

Requests for Swing Loans. The Borrower shall give the Administrative Agent Xxxxxx prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a the Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. Within 30 thirty (30) minutes after receiving such notice, the Administrative Agent Xxxxxx shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent Xxxxxx would be willing to make such Swing Loan available to the Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted RateXXXXXX' QUOTED RATE"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative Agent's Xxxxxx' Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Xxxxxx' Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest as provided at the sum of the Applicable Margin plus the Domestic Rate from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent)Illinois. Anything contained in the foregoing to the contrary notwithstanding notwithstanding, (i) the obligation of the Administrative Agent Xxxxxx to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent Xxxxxx shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Morton Industrial Group Inc)

Requests for Swing Loans. The Borrower shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon 2:00 p.m. (Chicago time) on the date upon which a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. Within 30 minutes after receiving such notice, the Administrative Agent shall in its discretion quote an interest rate to the Borrower at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if . If the Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the Revolving Credit to the Base Rate as provided from time to time in Section 1.7(b)(i) aboveeffect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent)Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (CTS Corp)

Requests for Swing Loans. The Borrower shall give the Administrative Agent prior notice (which may be written or oral) no later than 12:00 Noon (Chicago time) on the date upon which a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. Within 30 minutes after receiving such notice, the Administrative Agent shall quote an interest rate to the Borrower at which the Administrative Agent would be willing to make such Swing Loan available to the Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance, and if the Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest as provided in Section 1.7(b)(i1.6(b)(i) above. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Lamson & Sessions Co)

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