Common use of Special Swing Loan Provisions Clause in Contracts

Special Swing Loan Provisions. (a) All Swing Loans shall be payable with accrued interest thereon solely to Whitney for its own account. Upon the earlier to occur of (i) fourteen days after the making of any Swing Loan or (ii) receipt of written notice or demand from Whitney, Borrower shall repay all of such Swing Loans in cash by 1:00 p.m., New Orleans time the following Business Day, or make a Revolving Credit Loan in an amount at least equal to the aggregate outstanding principal amount of all Swing Loans, together with all accrued interest thereon, and shall apply the proceeds of such Revolving Credit Loans to repay in its entirety the aggregate outstanding principal amount of all Swing Loans, together with accrued interest thereon to the date of such repayment. (b) In the event that any portion of any Swing Loan is not repaid as set forth above, Whitney shall promptly notify Agent and Agent shall promptly, and in no event later than 5:00 p.m., New Orleans time, two Business Days thereafter, notify each Bank in writing of the unreimbursed amount of such Swing Loan and of such Bank's Pro-Rata Share of such unreimbursed amount. Each of the Banks shall make a Revolving Credit Loan in an amount equal to such Bank's Pro-Rata Share of the unreimbursed amount of such Swing Loan, together with accrued unpaid interest thereon (to the extent that there is availability under the Revolving Credit Commitments), and pay the proceeds thereof, in immediately available funds, directly to Whitney, not later than 1:00 p.m., New Orleans time, on the next Business Day after the date such Bank is notified by the Agent. Revolving Credit Loans made by the Banks to repay unreimbursed Swing Loans pursuant to this subsection shall constitute Revolving Credit Loans hereunder, initially shall be Base Rate Loans and shall be subject to all of the provisions of this Agreement concerning Revolving Credit Loans, except that such Revolving Credit Loans shall be made upon demand by the Agent as set forth above rather than upon notice by Borrower and shall be made, notwithstanding anything in this Agreement to the contrary, without regard to satisfaction of conditions precedent to the making of Revolving Credit Loans set forth in Section 3 hereof or any other Section of this Agreement. (c) Each Bank's obligation to make Revolving Credit Loans in the amount of its Pro-Rata Share of any unreimbursed Swing Loan pursuant hereto is several, and not joint or joint and several. The failure of any Bank to perform its obligation to make a Revolving Credit Loan in the amount of such Bank's Pro- Rata Share of any unreimbursed Swing Loan will not relieve any other Bank of its obligation hereunder to make a Revolving Credit Loan in the amount of such other Bank's Pro-Rata Share of such unreimbursed Swing Loan. Any Bank may but shall have no obligation to any Person to assume all or any portion of any non- performing Bank's obligation to make a Revolving Credit Loan in the amount of such Bank's Pro-Rata Share of such unreimbursed Swing Loan. The Borrower agrees to accept the Revolving Credit Loans hereinabove provided, whether or not such Loans could have been made pursuant to the terms of Section 3 hereof or any other Section of this Agreement. (d) In the event, for whatever reason, the Agent determines that the Banks are not able to, or that it could be disadvantageous for the Banks to, advance their respective Pro- Rata Share of Revolving Credit Loans for the purpose of refunding Swing Loans as required hereunder, then each of the Banks (subject to the provisions of this Section 3.7) absolutely and unconditionally agrees to purchase and take from Whitney on demand an undivided participation interest in Swing Loans outstanding in an amount equal to their respective Pro-Rata Share of such Swing Loans.

Special Swing Loan Provisions. (a) All Swing Loans shall be payable with accrued interest thereon solely to Whitney Xxxxxxx for its own account. Upon the earlier to occur of (i) fourteen seven days after the making of any Swing Loan or (ii) receipt at any time at the discretion of written notice or demand from Whitney, Borrower Borrowers shall repay all of such Swing Loans in cash by 1:00 p.m., New Orleans time the following Business Day, or make a Revolving Credit Loan in an amount at least equal to the aggregate outstanding principal amount of all Swing Loans, together with all accrued interest thereon, and shall apply the proceeds of such Revolving Credit Loans to repay in its entirety the aggregate outstanding principal amount of all Swing Loans, together with accrued interest thereon to the date of such repayment. (b) In the event that any portion of any Swing Loan is not repaid as set forth above, Whitney Xxxxxxx shall promptly notify Agent and Agent shall promptly, and in no event later than 5:00 p.m., New Orleans time, two Business Days thereafter, notify each Bank in writing of the unreimbursed amount of such Swing Loan and of such Bank's Pro-Rata Share of such unreimbursed amount. Each of the Banks shall make a Revolving Credit Loan in an amount equal to such Bank's Pro-Pro- Rata Share of the unreimbursed amount of such Swing Loan, together with accrued unpaid interest thereon (to the extent that there is availability under the Revolving Credit Commitments), and pay the proceeds thereof, in immediately available funds, directly to WhitneyXxxxxxx, not later than 1:00 p.m., New Orleans time, on the next Business Day after the date such Bank is notified by the Agent. Revolving Credit Loans made by the Banks to repay unreimbursed Swing Loans pursuant to this subsection shall constitute Revolving Credit Loans hereunder, initially shall be Base Rate Loans and shall be subject to all of the provisions of this Agreement concerning Revolving Credit Loans, except that such Revolving Credit Loans shall be made upon demand by the Agent as set forth above rather than upon notice by Borrower and shall be made, notwithstanding anything in this Agreement to the contrary, without regard to satisfaction of conditions precedent to the making of Revolving Credit Loans set forth in Section 3 hereof or any other Section of this Agreement; provided however, that no Bank shall be obligated to make such Revolving Credit Loans if, prior to the date of such notice from Agent to Xxxxx, Xxxxxxx had received written notice from the Agent or any Bank of the existence and continuance of a Default or an Event of Default or Xxxxxxx had actual knowledge of the existence and continuance of a Default or an Event of Default. (c) Each Bank's obligation to make Revolving Credit Loans in the amount of its Pro-Rata Share of any unreimbursed Swing Loan pursuant hereto is several, and not joint or joint and several. The failure of any Bank to perform its obligation to make a Revolving Credit Loan in the amount of such Bank's Pro- Rata Share of any unreimbursed Swing Loan will not relieve any other Bank of its obligation hereunder to make a Revolving Credit Loan in the amount of such other Bank's Pro-Rata Share of such unreimbursed Swing Loan. Any Bank may but shall have no obligation to any Person to assume all or any portion of any non- performing Bank's obligation to make a Revolving Credit Loan in the amount of such Bank's Pro-Rata Share of such unreimbursed Swing Loan. The Borrower agrees to accept the Revolving Credit Loans hereinabove provided, whether or not such Loans could have been made pursuant to the terms of Section 3 hereof or any other Section of this Agreement. (d) In the event, for whatever reason, the Agent determines that the Banks are not able to, or that it could be disadvantageous for the Banks to, advance their respective Pro- Pro-Rata Share of Revolving Credit Loans for the purpose of refunding Swing Loans as required hereunder, then each of the Banks (subject to the provisions of this Section 3.7) absolutely and unconditionally agrees to purchase and take from Whitney Xxxxxxx on demand an undivided participation interest in Swing Loans outstanding in an amount equal to their respective Pro-Pro- Rata Share of such Swing Loans.

Special Swing Loan Provisions. (a) All Swing Loans shall be payable with accrued interest thereon solely to Whitney the Swingline Lender for its own account, and shall otherwise be subject to all the terms and conditions applicable to the Revolving Loans (unless otherwise specifically set forth herein). Upon the earlier to occur of (ix) fourteen thirty days after the making of any Swing Loan or (iiy) receipt one Business Day after the occurrence of written notice or demand from Whitneyan Event of Default, the Borrower shall repay all of such Swing Loans in cash by 1:00 p.m., New Orleans time York time, on the following Business Day, date due or make a Borrowing of Revolving Credit Loan Loans in an amount at least equal to the aggregate outstanding principal amount of all Swing Loans, together with all accrued interest thereon, and shall apply the proceeds of such Revolving Credit Loans to repay in its entirety the aggregate outstanding principal amount of all Swing Loans, together with accrued interest thereon to the date of such repayment. (b) In the event that any portion of any Swing Loan is not repaid as set forth abovewhen due, Whitney the Swingline Lender shall promptly notify the Agent and the Agent shall promptly, and in no event later than 5:00 p.m., New Orleans York time, two Business Days thereafterafter its receipt of such notice, notify each Bank Lender in writing of the unreimbursed amount of such Swing Loan and of such BankLender's Pro-Rata Share Revolving Percentage of such unreimbursed amount. Each of the Banks Lenders shall make a Revolving Credit Loan in an amount equal to such BankLender's Pro-Rata Share Revolving Percentage of the unreimbursed amount of such Swing Loan, together with accrued unpaid interest thereon (to the extent that there is availability under the Revolving Credit CommitmentsLoan Commitment), and pay the proceeds thereof, in immediately available funds, directly to Whitneythe Agent for the account of the Swingline Lender, not later than 1:00 p.m., New Orleans York time, on the next Business Day after the date such Bank Lender is notified by the Agent. Revolving Credit Loans made by the Banks Lenders to repay unreimbursed Swing Loans pursuant to this subsection Section shall constitute Revolving Credit Loans hereunder, initially shall be Base Rate Loans and shall be subject to all of the provisions of this Agreement concerning Revolving Credit Loans, except that such Revolving Credit Loans shall be made upon demand by the Agent as set forth above rather than upon notice by Borrower the Borrower, and shall be made, notwithstanding anything in this Agreement to the contrary, without regard to satisfaction of conditions precedent to the making of Revolving Credit Loans set forth in Section 3 hereof or any other Section Article V of this Agreement. (c) ; provided, however that no Lender shall be obligated to make such Revolving Loans if, prior to the date of the Borrowing of the Swing Loan to be refunded, the Swingline Lender had received written notice from the Agent or any Lender of the existence and continuance of an Event of Default. Each BankLender's obligation to make Revolving Credit Loans in the amount of its Pro-Rata Share Revolving Percentage of any unreimbursed Swing Loan pursuant hereto is several, and not joint or joint and several. The failure of any Bank Lender to perform its obligation to make a Revolving Credit Loan in the amount of such BankLender's Pro- Rata Share Revolving Percentage of any unreimbursed Swing Loan will not relieve any other Bank Lender of its obligation hereunder to make a Revolving Credit Loan in the amount of such other BankLender's Pro-Rata Share Revolving Percentage of such unreimbursed Swing Loan. Any Bank may Lender may, but shall have no 48 obligation to any Person to to, assume all or any portion of any non- non-performing BankLender's obligation to make a Revolving Credit Loan in the amount of such BankLender's Pro-Rata Share Revolving Percentage of such unreimbursed Swing Loan. The Borrower agrees agree to accept the Revolving Credit Loans hereinabove provided, whether or not such Loans could have been made pursuant to the terms of Section 3 5.2 hereof or any other Section of this Agreement. (d) . In the event, for whatever reason, the Agent determines that the Banks Lenders are not able to, or that it could be disadvantageous for the Banks Lenders to, advance their respective Pro- Rata Share Revolving Percentage of Revolving Credit Loans for the purpose of refunding Swing Loans as required hereunder, then each of the Banks (subject to the provisions of this Section 3.7) Lenders absolutely and unconditionally agrees to purchase and take from Whitney the Swingline Lender on demand an undivided participation interest in Swing Loans outstanding in an amount equal to their respective Pro-Rata Share Revolving Percentage of such Swing Loans.

Special Swing Loan Provisions. (a) All Swing Loans shall be payable with accrued interest thereon solely to Whitney for its own account. Upon the earlier to occur of (i) fourteen seven days after the making of any Swing Loan or (ii) receipt at any time at the discretion of written notice or demand from Whitney, Borrower shall repay all of such Swing Loans in cash by 1:00 p.m., New Orleans time the following Business Day, or make obtain a Revolving Credit Loan in an amount at least equal to the aggregate outstanding principal amount of all Swing Loans, together with all accrued interest thereon, and shall apply the proceeds of such Revolving Credit Loans Loan to repay in its entirety the aggregate outstanding principal amount of all Swing Loans, together with accrued interest thereon to the date of such repayment. (b) In the event that any portion of any Swing Loan is not repaid as set forth above, Whitney shall promptly notify Agent and Agent shall promptly, and in no event later than 5:00 p.m., New Orleans time, two Business Days thereafter, notify each Bank in writing of the unreimbursed amount of such Swing Loan and of such Bank's Pro-Rata Share of such unreimbursed amount. Each of the Banks shall make a Revolving Credit Loan in an amount equal to such Bank's Pro-Pro- Rata Share of the unreimbursed amount of such Swing Loan, together with accrued unpaid interest thereon (to the extent that there is availability under the Revolving Credit Commitments)thereon, and pay the proceeds thereof, in immediately available funds, directly to Whitney, not later than 1:00 p.m., New Orleans time, on the next Business Day after the date such Bank is notified by the Agent. Revolving Credit Loans made by the Banks to repay unreimbursed Swing Loans pursuant to this subsection shall constitute Revolving Credit Loans hereunder, initially shall be Base Rate Loans and shall be subject to all of the provisions of this Agreement concerning Revolving Credit Loans, except that such Revolving Credit Loans shall be made upon demand by the Agent as set forth above rather than upon notice by Borrower and shall be made, notwithstanding anything in this Agreement to the contrary, without regard to satisfaction of conditions precedent to the making of Revolving Credit Loans set forth in Section 3 hereof or any other Section of this Agreement. (c) Each Bank's obligation to make Revolving Credit Loans in the amount of its Pro-Rata Share of any unreimbursed Swing Loan pursuant hereto is several, and not joint or joint and several. The failure of any Bank to perform its obligation to make a Revolving Credit Loan in the amount of such Bank's Pro- Rata Share of any unreimbursed Swing Loan will not relieve any other Bank of its obligation hereunder to make a Revolving Credit Loan in the amount of such other Bank's Pro-Rata Share of such unreimbursed Swing Loan. Any Bank may but shall have no obligation to any Person to assume all or any portion of any non- performing Bank's obligation to make a Revolving Credit Loan in the amount of such Bank's Pro-Rata Share of such unreimbursed Swing Loan. The Borrower agrees to accept the Revolving Credit Loans hereinabove provided, whether or not such Loans could have been made pursuant to the terms of Section 3 hereof or any other Section of this Agreement. (d) In the event, for whatever reason, the Agent determines that the Banks are not able to, or that it could be disadvantageous for the Banks to, advance their respective Pro- Pro-Rata Share of Revolving Credit Loans for the purpose of refunding Swing Loans as required hereunder, then each of the Banks (subject to the provisions of this Section 3.7) absolutely and unconditionally agrees to purchase and take from Whitney on demand an undivided participation interest in Swing Loans outstanding in an amount equal to their respective Pro-Pro- Rata Share of such Swing Loans.

Special Swing Loan Provisions. (a) All Swing Loans shall be ----------------------------- payable with accrued interest thereon solely to Whitney the Swingline Lender for its own account, and shall otherwise be subject to all the terms and conditions applicable to the Revolving Loans (unless otherwise specifically set forth herein). Upon the earlier to occur of (ix) fourteen days five Business Days after the making of any Swing Loan or (iiy) receipt one Business Day after the occurrence of written notice or demand from Whitneyan Event of Default, the Borrower shall repay all of such Swing Loans in cash by 1:00 p.m., New Orleans time York time, on the following Business Day, date due or make a Borrowing of Revolving Credit Loan Loans in an amount at least equal to the aggregate outstanding principal amount of all such Swing Loans, Loans together with all accrued interest thereon, and shall apply the proceeds of such Revolving Credit Loans Borrowing to repay in its entirety the aggregate outstanding principal amount of all such Swing Loans, Loans together with accrued interest thereon to the date of such repayment. (b) . In the event that any portion of any Swing Loan is not repaid as set forth abovewhen due, Whitney the Swingline Lender shall promptly notify the Administrative Agent and the Administrative Agent shall promptly, and in no event later than 5:00 p.m., New Orleans York time, two Business Days thereafterafter its receipt of such notice, notify each Bank Lender in writing of the unreimbursed amount of such Swing Loan and of such BankLender's Pro-Rata Share Revolving Percentage of such unreimbursed amount. Each of the Banks Lenders shall make a Revolving Credit Loan in an amount equal to such BankLender's Pro-Rata Share Revolving Percentage of the unreimbursed amount of such Swing Loan, together with accrued and unpaid interest thereon (to the extent that there is availability under the Revolving Credit CommitmentsLoan Commitment of such Lender), and pay the proceeds thereof, in immediately available funds, directly to Whitneythe Administrative Agent for the account of the Swingline Lender, not later than 1:00 p.m., New Orleans York time, on the next Business Day after the date such Bank Lender is notified by the Administrative Agent. Revolving Credit Loans made by the Banks Lenders to repay unreimbursed Swing Loans pursuant to this subsection Section shall constitute Revolving Credit Loans hereunder, initially shall be Base Rate Loans and shall be subject to all of the provisions of this Agreement concerning Revolving Credit Loans, except that such Revolving Credit Loans shall be made upon demand by the Administrative Agent as set forth above rather than upon notice by Borrower the Borrower, and shall be made, notwithstanding anything in this Agreement to the contrary, without regard to satisfaction of conditions precedent to the making of Revolving Credit Loans set forth in Section 3 hereof or any other Section Article V of this Agreement. (c) ; provided, however that no Lender shall be -------- obligated to make such Revolving Loans if, prior to the date of the Borrowing of the Swing Loan to be refunded, the Swingline Lender had received written notice from the Administrative Agent or any Lender of the existence and continuance of an Event of Default. Each BankLender's obligation to make Revolving Credit Loans in the amount of its Pro-Rata Share Revolving Percentage of any unreimbursed Swing Loan pursuant hereto is several, and not joint or joint and several. The failure of any Bank Lender to perform its obligation to make a Revolving Credit Loan in the amount of such BankLender's Pro- Rata Share Revolving Percentage of any unreimbursed Swing Loan will not relieve any other Bank Lender of its obligation hereunder to make a Revolving Credit Loan in the amount of such other BankLender's Pro-Rata Share Revolving Percentage of such unreimbursed Swing Loan. Any Bank may Lender may, but shall have no obligation to any Person to to, assume all or any portion of any non- non-performing BankLender's obligation to make a Revolving Credit Loan in the amount of such BankLender's Pro-Rata Share Revolving Percentage of such unreimbursed Swing Loan. The Borrower agrees to accept the Revolving Credit Loans hereinabove provided, whether or not such Loans could have been made pursuant to the terms of Section 3 5.2 hereof ----------- or any other Section of this Agreement. (d) . In the event, for whatever reason, the Administrative Agent determines that the Banks Lenders are not able to, or that it could be disadvantageous for the Banks Lenders to, advance their respective Pro- Rata Share Revolving Percentage of Revolving Credit Loans for the purpose of refunding Swing Loans as required hereunder, then each of the Banks (subject to the provisions of this Section 3.7) Lenders absolutely and unconditionally agrees to purchase and take from Whitney the Swingline Lender on demand an undivided participation interest in Swing Loans outstanding in an amount equal to their respective Pro-Rata Share Revolving Percentage of such Swing Loans.

Special Swing Loan Provisions. (a) All Swing Loans shall be payable with accrued interest thereon solely to Whitney for its own account. Upon the earlier to occur of (i) fourteen seven days after the making of any Swing Loan or (ii) receipt at any time at the discretion of written notice or demand from Whitney, Borrower shall repay all of such Swing Loans in cash by 1:00 p.m., New Orleans time the following Business Day, or make a Revolving Credit Loan in an amount at least equal to the aggregate outstanding principal amount of all Swing Loans, together with all accrued interest thereon, and shall apply the proceeds of such Revolving Credit Loans to repay in its entirety the aggregate outstanding principal amount of all Swing Loans, together with accrued interest thereon to the date of such repayment. (b) In the event that any portion of any Swing Loan is not repaid as set forth above, Whitney shall promptly notify Agent and Agent shall promptly, and in no event later than 5:00 p.m., New Orleans time, two Business Days thereafter, notify each Bank in writing of the unreimbursed amount of such Swing Loan and of such Bank's Pro-Rata Share of such unreimbursed amount. Each of the Banks shall make a Revolving Credit Loan in an amount equal to such Bank's Pro-Rata Share of the unreimbursed amount of such Swing Loan, together with accrued unpaid interest thereon (to the extent that there is availability under the Revolving Credit Commitments), and pay the proceeds thereof, in immediately available funds, directly to Whitney, not later than 1:00 p.m., New Orleans time, on the next Business Day after the date such Bank is notified by the Agent. Revolving Credit Loans made by the Banks to repay unreimbursed Swing Loans pursuant to this subsection shall constitute Revolving Credit Loans hereunder, initially shall be Base Rate Loans and shall be subject to all of the provisions of this Agreement concerning Revolving Credit Loans, except that such Revolving Credit Loans shall be made upon demand by the Agent as set forth above rather than upon notice by Borrower and shall be made, notwithstanding anything in this Agreement to the contrary, without regard to satisfaction of conditions precedent to the making of Revolving Credit Loans set forth in Section 3 hereof or any other Section of this Agreement. (c) Each Bank's obligation to make Revolving Credit Loans in the amount of its Pro-Rata Share of any unreimbursed Swing Loan pursuant hereto is several, and not joint or joint and several. The failure of any Bank to perform its obligation to make a Revolving Credit Loan in the amount of such Bank's Pro- Pro-Rata Share of any unreimbursed Swing Loan will not relieve any other Bank of its obligation hereunder to make a Revolving Credit Loan in the amount of such other Bank's Pro-Rata Share of such unreimbursed Swing Loan. Any Bank may but shall have no obligation to any Person to assume all or any portion of any non- non-performing Bank's obligation to make a Revolving Credit Loan in the amount of such Bank's Pro-Rata Share of such unreimbursed Swing Loan. The Borrower agrees to accept the Revolving Credit Loans hereinabove provided, whether or not such Loans could have been made pursuant to the terms of Section 3 hereof or any other Section of this Agreement. (d) In the event, for whatever reason, the Agent determines that the Banks are not able to, or that it could be disadvantageous for the Banks to, advance their respective Pro- Pro-Rata Share of Revolving Credit Loans for the purpose of refunding Swing Loans as required hereunder, then each of the Banks (subject to the provisions of this Section 3.7) absolutely and unconditionally agrees to purchase and take from Whitney on demand an undivided participation interest in Swing Loans outstanding in an amount equal to their respective Pro-Rata Share of such Swing Loans.)