Common use of Swing Line Advances Clause in Contracts

Swing Line Advances. The Borrower may request the Swing Line Banks to make, and each Swing Line Bank severally agrees to make, on the terms and conditions hereinafter set forth, its ratable share of a Swing Line Advance 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 $25,000,000 (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 $1,000,000 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(d), repay pursuant to Section 2.04(c) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(d).

Appears in 4 contracts

Samples: Credit Agreement, Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.)

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Swing Line Advances. The Borrower may request the Swing Line Banks Bank to make, and each the Swing Line Bank severally agrees to make, on the terms and conditions hereinafter set forth, its ratable share of a Swing Line Advance 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 $25,000,000 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 $1,000,000 250,000 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(d2.01(c), repay pursuant to Section 2.04(c2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(d2.01(c).

Appears in 4 contracts

Samples: Credit Agreement (Campus Crest Communities, Inc.), Credit Agreement (Campus Crest Communities, Inc.), Credit Agreement (Campus Crest Communities, Inc.)

Swing Line Advances. The Borrower may request the Swing Line Banks Bank to make, and each the Swing Line Bank severally agrees to make, on the terms and conditions hereinafter set forth, its ratable share of a Swing Line Advance 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 $25,000,000 5,000,000 (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 $1,000,000 250,000 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(d2.01(c), repay pursuant to Section 2.04(c2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(d2.01(c).

Appears in 2 contracts

Samples: Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.)

Swing Line Advances. The Borrower may request the Swing Line Banks to make, and each Swing Line Bank severally agrees to make, on the terms and conditions hereinafter set forth, its ratable share of a Swing Line Advance Advances to the Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date (i) in an aggregate amount not to exceed at any time outstanding $25,000,000 10,000,000 (the “Swing Line Facility”"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 Revolving Credit Lenders at such time. No 40 40 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 $1,000,000 or an integral multiple of $250,000 500,000 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, so long as the Swing Line Bank, in its sole discretion, elects to make Swing Line Advances, the Borrower may borrow under this Section 2.01(d), repay pursuant to Section 2.04(c2.04(d) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(d).

Appears in 1 contract

Samples: Credit Agreement (Sovereign Specialty Chemicals Inc)

Swing Line Advances. The Borrower may request the Swing Line Banks Bank to make, and each the Swing Line Bank severally agrees to make, on the terms and conditions hereinafter set forth, its ratable share of a Swing Line Advance 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 $25,000,000 (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 $1,000,000 250,000 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(d2.01(c), repay pursuant to Section 2.04(c2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(d2.01(c).

Appears in 1 contract

Samples: Credit Agreement (Five Star Quality Care, Inc.)

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Swing Line Advances. The Borrower may request the Swing Line Banks Bank to make, and each the Swing Line Bank severally agrees to make, on the terms and conditions hereinafter set forth, its ratable share of a Swing Line Advance 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 $25,000,000 5,000,000 (the “Swing Line Facility”"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 $1,000,000 250,000 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 Great Wolf Senior Secured Revolving Credit Facility Section 2.01(d2.01 (c), repay pursuant to Section 2.04(c2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(d2.01(c).

Appears in 1 contract

Samples: Revolving Credit Agreement (Great Wolf Resorts, Inc.)

Swing Line Advances. The Borrower may request the Swing Line Banks Bank to make, and each the Swing Line Bank severally agrees to make, on the terms and conditions hereinafter set forth, its ratable share of a Swing Line Advance 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 $25,000,000 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 $1,000,000 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(d), repay pursuant to Section 2.04(c) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(d).

Appears in 1 contract

Samples: Credit Agreement (Summit Hotel OP, LP)

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