Common use of Swing Line Commitments Clause in Contracts

Swing Line Commitments. (a) Subject to the terms and conditions hereof and provided no Default or Event of Default shall have occurred and be continuing, each Swing Line Bank hereby agrees to make swing line loans to the Company (individually, a "Committed Swing Line Loan"; collectively the "Committed Swing Line Loans" and together with the Uncommitted Swing Line Loans, the "Swing Line Loans") from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding not to exceed the Swing Line Commitment of such Swing Line Bank; provided that the aggregate unpaid principal amount of all Swing Line Loans, together with the aggregate unpaid principal amount of all Revolving Credit Loans and all Bid Loans at any one time outstanding, may not exceed the aggregate amount of the Commitments and provided further that the aggregate unpaid principal amount of all Swing Line Loans and Revolving Credit Loans made by any Swing Line Bank shall not exceed the Commitment of such Swing Line Bank. Amounts borrowed by the Company under this subsection 2.19 may be repaid and, through but excluding the Termination Date, reborrowed. All Committed Swing Line Loans shall be made as ABR Loans and may not be converted into Eurodollar Loans. Each borrowing of Swing Line Loans shall be in an amount

Appears in 1 contract

Samples: First Data Corp

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Swing Line Commitments. (a) Subject to the terms and conditions hereof and provided no Default or Event of Default shall have occurred and be continuinghereof, each the US Swing Line Bank hereby Lender agrees that, during the US Revolving Credit Commitment Period, it will make available to make the Borrower in the form of swing line loans (“US Swing Line Loans”) a portion of the credit otherwise available to the Company Borrower under the US Revolving Credit Commitments; provided, that (individuallyi) the aggregate principal amount of US Swing Line Loans outstanding at any time shall not exceed the US Swing Line Commitment then in effect (notwithstanding that the US Swing Line Loans outstanding at any time, a "Committed when aggregated with the US Swing Line Lender’s other outstanding US Revolving Credit Loans hereunder, may exceed the US Swing Line Commitment then in effect or such US Swing Line Lender’s US Revolving Credit Commitment then in effect) and (ii) the Borrower shall not request, and the US Swing Line Lender shall not make, any US Swing Line Loan if, after giving effect to the making of such US Swing Line Loan"; collectively the "Committed Swing Line Loans" and together with the Uncommitted Swing Line Loans, the "Swing Line Loans") from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding not to exceed the Swing Line Commitment of such Swing Line Bank; provided that the aggregate unpaid principal amount of all Swing Line Loans, together with the aggregate unpaid principal amount of all Revolving Credit Loans and all Bid Loans at any one time outstanding, may not exceed the aggregate amount of the Available US Revolving Credit Commitments and provided further that would be less than zero. During the aggregate unpaid principal amount of all US Revolving Credit Commitment Period, the Borrower may use the US Swing Line Loans Commitment by borrowing, repaying and Revolving Credit Loans made by any Swing Line Bank shall not exceed reborrowing, all in accordance with the Commitment of such Swing Line Bankterms and conditions hereof. Amounts borrowed by the Company under this subsection 2.19 may be repaid and, through but excluding the Termination Date, reborrowed. All Committed US Swing Line Loans shall be made as ABR Base Rate Loans and may not be converted into Eurodollar Loans. Each borrowing of Swing Line Loans shall be in an amountonly.

Appears in 1 contract

Samples: Credit Agreement (Waste Services, Inc.)

Swing Line Commitments. (a) Subject to The Swing Line Bank shall, on the terms and conditions hereof and provided no Default or Event of Default shall have occurred and be continuing, each Swing Line Bank hereby agrees to make swing line loans subject to the Company conditions hereinafter set forth (individuallyincluding Section 4.3), make one or more advances (each such advance being a "Committed Swing Line Loan"; collectively the "Committed Swing Line Loans" and together with the Uncommitted Swing Line Loans, the "Swing Line Loans") to any Floor Plan Borrower from time to time on any Business Day during the Commitment Period period from the Closing Date to the Maturity Date in an aggregate principal amount at any one time outstanding not to exceed the at any time (not including Swing Line Commitment Overdraft Loans) the aggregate amount of such the Floor Plan Loan Commitments of all the Banks; provided, however, that after giving effect to all Borrowings of Swing Line Bank; provided that Loans and all Floor Plan Loans requested on any date, the sum of the aggregate unpaid principal amount of all outstanding Floor Plan Loans and Swing Line Loans (but excluding Swing Line Overdraft Loans, together with the aggregate unpaid principal amount of all Revolving Credit Loans and all Bid Loans at any one time outstanding, may ) shall not exceed the aggregate amount of the Commitments and provided further that the then applicable aggregate unpaid principal amount of all Floor Plan Loan Commitments. All Swing Line Loans and Revolving Credit Loans made by any (including the Swing Line Bank Overdraft Loans) shall not exceed be evidenced by the Commitment of such Swing Line BankNote, under which advances, repayments and readvances may be made, subject to the terms and conditions of this Agreement. Amounts borrowed Each Swing Line Loan shall mature and the principal amount thereof shall be due and payable by the Company under this subsection 2.19 applicable Floor Plan Borrower, as the case may be repaid andbe, through but excluding on the Termination Date, reborrowedlast day of the Interest Period applicable thereto. All Committed In no event whatsoever shall any outstanding Swing Line Loans shall Loan be made as ABR Loans and may not be converted into Eurodollar Loans. Each borrowing of Swing Line Loans shall be in an amountdeemed to

Appears in 1 contract

Samples: Group 1 Automotive Inc

Swing Line Commitments. (a) Subject to the terms and conditions hereof and provided no Default or Event of Default shall have occurred and be continuinghereof, each the US Swing Line Bank hereby Lender agrees that, during the US Revolving Credit Commitment Period, it will make available to make the Borrower in the form of swing line loans to the Company (individually, a "Committed Swing Line Loan"; collectively the "Committed Swing Line Loans" and together with the Uncommitted Swing Line Loans, the "US Swing Line Loans") from time a portion of the credit otherwise available to time during the Commitment Period in an Borrower under the US Revolving Credit Commitments; provided, that (i) the aggregate principal amount of US Swing Line Loans outstanding at any one time outstanding shall not to exceed the US Swing Line Commitment of such then in effect (notwithstanding that the US Swing Line Bank; provided that Loans outstanding at any time, when aggregated with the aggregate unpaid principal amount of all US Swing Line Loans, together with the aggregate unpaid principal amount of all Lender's other outstanding US Revolving Credit Loans and all Bid Loans at any one time outstandinghereunder, may exceed the US Swing Line Commitment then in effect or such US Swing Line Lender's US Revolving Credit Commitment then in effect) and (ii) the Borrower shall not exceed request, and the US Swing Line Lender shall not make, any US Swing Line Loan if, after giving effect to the making of such US Swing Line Loan, the aggregate amount of the Available US Revolving Credit Commitments and provided further that would be less than zero. During the aggregate unpaid principal amount of all US Revolving Credit Commitment Period, the Borrower may use the US Swing Line Loans Commitment by borrowing, repaying and Revolving Credit Loans made by any Swing Line Bank shall not exceed reborrowing, all in accordance with the Commitment of such Swing Line Bankterms and conditions hereof. Amounts borrowed by the Company under this subsection 2.19 may be repaid and, through but excluding the Termination Date, reborrowed. All Committed US Swing Line Loans shall be made as ABR Base Rate Loans and may not be converted into Eurodollar Loans. Each borrowing of Swing Line Loans shall be in an amountonly.

Appears in 1 contract

Samples: Credit Agreement (Capital Environmental Resource Inc)

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Swing Line Commitments. (a) Subject to the terms and conditions hereof and provided no Default or Event of Default shall have occurred and be continuingset forth herein, each Swing Line Bank hereby severally agrees to make a portion of the credit otherwise available from time to time by making swing line loans advances (“Swing Line Loans”) to the Company (individually, a "Committed on any Business Day during the Commitment Period applicable to such Swing Line Loan"; collectively the "Committed Bank. Such Swing Line Loans shall be denominated in Dollars and, in the aggregate, shall not exceed (x) at any time outstanding (i) for each Swing Line Bank (1) such Swing Line Bank’s Swing Line Commitment then in effect and (2) when aggregated to such Swing Line Bank’s outstanding Revolving Credit Loans" , participations in Letters of Credit and together with the Uncommitted such Swing Line Bank’s unfunded participations in Swing Line Loans made by any other Swing Line Bank, such Swing Line Bank’s Revolving Credit Commitment then in effect and (ii) for all Swing Line Loans, the "Swing Line Loans") from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding not to exceed of the Swing Line Commitment Sublimit or (y) at the time of such Swing Line Bank; provided that Loan, the aggregate unpaid principal amount of all Swing Line Loans, together with the aggregate unpaid principal amount of all Available Revolving Credit Loans and all Bid Loans at any one time outstanding, may not exceed the aggregate amount Commitments of the Commitments Banks. Within the foregoing limits, and provided further that subject to the aggregate unpaid principal amount of all Swing Line Loans other terms and Revolving Credit Loans made by any Swing Line Bank shall not exceed the Commitment of such Swing Line Bank. Amounts conditions hereof, amounts borrowed by the Company under this subsection 2.19 may be repaid and, through but excluding the Termination Date, and reborrowed. All Committed Immediately upon the making of a Swing Line Loans Loan, each Bank shall be made as ABR Loans deemed to have purchased, and may not be converted into Eurodollar Loans. Each borrowing of hereby irrevocably and unconditionally agrees to purchase, from the applicable Swing Line Loans shall be Bank a risk participation in such Swing Line Loan in an amountamount equal to such Bank’s Revolving Credit Commitment Percentage of such Swing Line Loan.

Appears in 1 contract

Samples: Credit Agreement (Western Union CO)

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