Swing Line Advances Clause Samples

Swing Line Advances. (i) Each Borrower shall repay to the Swing Line Agent for the ratable account of the Swing Line Banks on the last day of the applicable Interest Period, the unpaid principal amount of any Swing Line Advance then outstanding. (ii) In the event that a Borrower does not repay a Swing Line Advance made to it in full on the last day of its Interest Period, on the Business Day immediately following such day, that Borrower shall be deemed to have served a Notice of Revolving Credit Borrowing for a Revolving Credit Borrowing to be made on the third Business Day thereafter in the amount (including accrued interest) and currency of such Swing Line Advance and with an Interest Period of one month and such Revolving Credit Advance shall be made on the third Business Day in accordance with Section 2.02(a) (without regard to the minimum amount thereof) and the proceeds thereof applied in repayment of such Swing Line Advance. Notwithstanding anything contained herein to the contrary, for the time period from the day immediately following the end of the Interest Period for any such Swing Line Advance that is not repaid on the last day of its Interest Period until and including the third Business Day thereafter, Section 2.08(b) shall apply to the unpaid principal amount of any such Swing Line Advance. (iii) Section 3.03 shall not apply to any Revolving Credit Advance to which this Section 2.07(d) refers. (iv) In the circumstances set out in paragraph (ii) above, to the extent that it is not possible to make a Revolving Credit Advance due to the insolvency of a Borrower, the Lenders will indemnify (pro-rata according to their Revolving Credit Commitments) the Swing Line Banks for any loss that they incur as a result of the relevant Swing Line Borrowing.

Swing Line Advances. The Swing Line Lender may, on the terms and subject to the conditions hereinafter set forth (including without limitation Section 2.5(c) hereof), but shall not be required to, make one or more Advances (each such advance being a “Swing Line Advance”) to the Borrower from time to time on any Business Day during the period from the Effective Date hereof until (but excluding) the Revolving Credit Maturity Date in an aggregate amount not to exceed at any one time outstanding the Swing Line Maximum Amount. Subject to the terms set forth herein, advances, repayments and readvances may be made under the Swing Line.

Swing Line Advances. Each Swing Line Advance shall be paid in full on each Swing Line Payment Date.

Swing Line Advances. (a) Upon the terms and subject to the conditions set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrower herein, BKB may, in its sole discretion, make short term advances ("Swing Line Advances") to the Borrower from time to time from and after the Closing Date and prior to the Borrowing Base Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and Swing Line Advances) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Total Commitment, provided, further that the aggregate outstanding principal amount of Swing Line Advances shall not exceed $5,000,000, and provided, further that the aggregate principal amount of Revolving Credit Loans and Swing Line Advances made by BKB shall not at any time exceed BKB's Commitment. Each Swing Line Advance shall be due and payable on such Business Day (not more than seven (7) days after the making thereof) as the Borrower shall specify in the Notice of Borrowing or Conversion requesting such Swing Line Advance. Each request for a Swing Line Advance hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Section 3.1, in the case of any Swing Line Advance to be made on the Closing Date, and Section 3.2 in the case of all other Swing Line Advances, have been satisfied as of the date of such request. (b) Each Swing Line Advance shall be either a Base Rate Loan or, subject to availability, a Money Market Loan; no Swing Line Advance shall be a Eurodollar Loan. No Swing Line Advance shall be requested or made for less than $100,000 in principal amount. (c) Subject to the limitations set forth above, Swing Line Advances of one Type may be converted into a Loan of another Type in accordance with Section 2.4. No Revolving Credit Loan may be converted into a Swing Line Advance.

Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date (i) in an aggregate amount not to exceed at any time outstanding $10,000,000 (the “Swing Line Facility”) and (ii) in an amount for each such Swing Line Borrowing not to exceed the aggregate of the Unused Revolving Credit Commitments of the Lenders at such time. No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $250,000 or an integral multiple of $250,000 in excess thereof and shall be made as a Base Rate Advance. Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) above, the Borrower may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c).

Swing Line Advances. (A) Each Swing Line Advance shall be funded directly by the Swing Line Lender to the Borrower. Immediately upon the making of each Swing Line Advance by the Swing Line Lender, the Swing Line Lender shall be deemed to have sold and transferred to each Revolving Lender, and each Revolving Lender shall be deemed to have purchased and received from the Swing Line Lender, in each case irrevocably and without any further action by any party, an undivided interest and participation in such Swing Line Advance and the Obligations of the Borrower under this Agreement in respect thereof in an amount equal to such Revolving Lender's Pro Rata Share, PROVIDED, HOWEVER, that (1) no Revolving Lender shall be required to fund its participation in any such Swing Line Advance until demand therefor is made by the Agent pursuant to Section 2.2(b)(ii)(C) hereof, and (2) no Revolving Lender shall be entitled to share in any payments of principal or interest in respect of its participation in any such Swing Line Advance except to the extent set forth in Section 2.2(b)(ii)(C) hereof with respect to any such participation which has been funded by such Lender as provided therein. (B) The Agent may, and upon request of the Swing Line Lender the Agent shall, at any time and from time to time, give to the Revolving Lenders a Notice of Borrowing on behalf of the Borrower for Revolving Advances, in each case in an amount equal to the aggregate amount of Swing Line Advances then owing by the Borrower (or such lesser amount as the Agent or the Swing Line Lender shall specify). Upon receipt of any such Notice of Borrowing, each Revolving Lender shall (whether or not the conditions set forth in Section 4.2 are then satisfied), on or before the time specified by the Agent (which in no event shall be earlier than 10:00 a.m. nor later than 2:00 p.m. (Dallas, Texas time) on the Business Day following the date on which such Notice of Borrowing is given), make available for the account of its Applicable Lending Office to the Agent such Lender's ratable portion of such Revolving Borrowing by depositing same day funds in the Agent's Account. The proceeds of any such Borrowing shall be distributed by the Agent to the Swing Line Lender (subject to Section 2.2(b)(ii)(E)) as a prepayment or repayment of all or a portion of the Swing Line Advances then owing by the Borrower.

Swing Line Advances. Each Borrower may, upon notice to the Administrative Agent and the Swing Line Agent by 9:30 A.M. (London time) on the date of the prepayment stating the aggregate principal amount of the prepayment, and, if such notice is given, such Borrower shall prepay the outstanding principal amount of the Swing Line Advances comprising part of the same Swing Line Borrowing in whole or ratably in part; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of no less than €1,000,000 or $1,000,000, as the case may be and (y) in the event of any such prepayment of a Swing Line Advance other than on the maturity date therefor, such Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(c).

Swing Line Advances. The U.S. Borrower shall repay to the Administrative Agent for the account of the Swing Line Bank and each other Revolving Credit Lender that has made a Swing Line Advance the outstanding principal amount of each Swing Line Advance made by each of them on the earlier of the maturity date specified in the applicable Notice of Swing Line Borrowing (which maturity shall be no later than the seventh day after the requested date of such Borrowing) and the Termination Date.

Swing Line Advances. A rate per annum equal at all times to the result of (x) the Federal Funds Rate in effect from time to time plus (y) the Applicable Margin for Swing Line Advances in effect from time to time, in each case payable in arrears on the date such Swing Line Advance shall be paid in full.