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) seven days after the making of any Swing Loan or (ii) at any time at the discretion of 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.

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) seven days after the making of any Swing Loan or (ii) at any time at the discretion of 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.

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) seven fourteen days after the making of any Swing Loan or (ii) at any time at the discretion 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.

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) seven days after the making of any Swing Loan or (ii) at any time at the discretion of 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.