Common use of Swing Line Facility Clause in Contracts

Swing Line Facility. (a) Subject to the terms and conditions hereof, the Swing Line Lender may, in its sole discretion, make available from time to time until the Revolving Commitment Termination Date swing line loans in Dollars (each, a “Swing Line Loan”). The aggregate amount of Swing Line Loans outstanding shall not exceed at any time Swing Line Availability. Notwithstanding anything herein to the contrary, the aggregate outstanding principal balance of the Swing Line Loans may exceed the Swing Line Lender’s Revolving Credit Percentage of the Revolving Commitment Amount. Until the Revolving Commitment Termination Date, the Borrower may from time to time borrow, repay and reborrow Swing Line Loans under this Section 2.1.2. Each Swing Line Loan shall be made pursuant to a Notice of Borrowing delivered by the Borrower to the Administrative Agent in accordance with Section 2.4. Unless the Swing Line Lender has received at least one Business Day’s prior written notice from the Majority Lenders instructing it not to make a Swing Line Loan, the Swing Line Lender shall, notwithstanding the failure of any condition precedent set forth in Section 4.2, be entitled to fund such Swing Line Loan, and to have such Lenders make Revolving Loans in accordance with Section 2.1.2(c) or purchase participating interests in such Swing Line Loan in accordance with Section 2.1.2(d). Notwithstanding any other provision of this Agreement or the other Loan Documents, each Swing Line Loan shall constitute a Base Rate Loan. The Borrower shall repay the aggregate outstanding principal amount of each Swing Line Loan upon demand therefor by the Administrative Agent.

Appears in 2 contracts

Samples: Charter Agreement (Great Lakes Dredge & Dock CORP), Credit Agreement (Great Lakes Dredge & Dock CORP)

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Swing Line Facility. (a) Subject to the terms and conditions hereof, the Swing Line Lender may, in its sole discretion, make available advances to be funded from time to time until the Revolving Swing Line Commitment Termination Date swing line loans in Dollars Amount (each, a “Swing Line Loan”)) without a Notice of Borrowing from the Borrower at the end of each Business Day until the Termination Date. In the event that either the Swing Line Lender or the Borrower discontinues the advancement of Swing Line Loans at the end of each Business Day, then the Borrower shall be permitted to manually request the Swing Line Lender make available a Swing Line Loan by submitting a Notice of Borrowing to the Administrative Agent in accordance with Section 2.2.2. The sum of the Swing Line Lender’s Pro Rata Share of the Revolving Outstanding and all outstanding Swing Line Loans may exceed the Swing Line Lender’s Pro Rata Share of the Revolving Commitment. The provisions of this Section 2.2.4 shall not relieve Lenders of their obligations to make Revolving Loans under Section 2.1.1 pursuant to a Notice of Borrowing under Section 2.2.2. The aggregate amount of Swing Line Loans outstanding shall not exceed at any time the Swing Line Availability. Notwithstanding anything herein to the contrary, the aggregate outstanding principal balance of the Swing Line Loans may exceed the Swing Line Lender’s Revolving Credit Percentage of the Revolving Commitment Amount. Until the Revolving Commitment Termination Date, the Borrower may from time to time borrow, repay and reborrow Swing Line Loans under this Section 2.1.2. Each Swing Line Loan shall be made pursuant to a Notice of Borrowing delivered by the Borrower to the Administrative Agent in accordance with Section 2.4. Unless the Swing Line Lender has received at least one Business Day’s prior written notice from the Majority Lenders instructing it not to make a Swing Line Loan, the Swing Line Lender shall, notwithstanding the failure of any condition precedent set forth in Section 4.2, be entitled to fund such Swing Line Loan, and to have such Lenders make Revolving Loans in accordance with Section 2.1.2(c) or purchase participating interests in such Swing Line Loan in accordance with Section 2.1.2(d)2.2.4. Notwithstanding any other provision of this Agreement or the other Loan Documents, each Swing Line Loan shall constitute a Base Rate Loan. The Borrower shall repay the aggregate outstanding principal amount of each Swing Line Loan upon demand therefor by from the Administrative AgentRevolving Loan no less frequently than once weekly in accordance with Section 2.2.4(c) below.

Appears in 1 contract

Samples: Credit Agreement (Primoris Services Corp)

Swing Line Facility. (a) Subject to the terms and conditions hereof, the Swing Line Lender may, in its sole discretion, make available advances to be funded from time to time until the Revolving Swing Line Commitment Termination Date swing line loans in Dollars (each, each a “Swing Line Loan”)) without a Notice of Borrowing from the Borrower at the end of each Business day until the Termination Date. In the event that either the Swing Line Lender or the Borrower discontinues the advancement of Swing Line Loans at the end of each Business Day, then the Borrower shall be permitted to manually request the Swing Line Lender make available a Swing Line Loan by submitting a Notice of Borrowing to the Administrative Agent in accordance with Section 2.2.2. The sum of the Swing Line Lender’s Pro Rata Share of the Revolving Outstandings (including all outstanding Swing Line Loans) may exceed the Swing Line Lender’s Pro Rata Share of the Revolving Commitment. The provisions of this Section 2.2.4 shall not relieve Lenders of their obligations to make Revolving Loans under Section 2.1.1 pursuant to a Notice of Borrowing under Section 2.2.2. The aggregate amount of Swing Line Loans outstanding shall not exceed at any time Swing Line Availability. Notwithstanding anything herein to the contrary, the aggregate outstanding principal balance of the Swing Line Loans may exceed the Swing Line Lender’s Revolving Credit Percentage of the Revolving Commitment Amount. Until the Revolving Commitment Termination Date, the Borrower may from time to time borrow, repay and reborrow Swing Line Loans under this Section 2.1.2. Each Swing Line Loan shall be made pursuant to a Notice of Borrowing delivered by the Borrower to the Administrative Agent in accordance with Section 2.4. Unless the Swing Line Lender has received at least one Business Day’s prior written notice from the Majority Lenders instructing it not to make a Swing Line Loan, the Swing Line Lender shall, notwithstanding the failure of any condition precedent set forth in Section 4.2, be entitled to fund such Swing Line Loan, and to have such Lenders make Revolving Loans in accordance with Section 2.1.2(c) or purchase participating interests in such Swing Line Loan in accordance with Section 2.1.2(d)2.2.4. Notwithstanding any other provision of this Agreement or the other Loan Documents, each Swing Line Loan shall constitute a Base Rate Loan. The Borrower shall repay the aggregate outstanding principal amount of each Swing Line Loan upon demand therefor by from the Administrative AgentRevolving Commitment no less frequently than once weekly in accordance with Section 2.2.4(c) below.

Appears in 1 contract

Samples: Credit Agreement (Infrastructure & Energy Alternatives, Inc.)

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Swing Line Facility. (ai) Subject to the terms and conditions hereof, the Swing Line Lender may, in its sole discretion, agrees to make available from time to time until the Revolving Commitment Loan Termination Date swing line loans in Dollars advances (each, a "Swing Line Loan”Advance"). The aggregate amount of Swing Line Loans Advances outstanding shall not exceed at any time the lesser of (A) the Swing Line Commitment and (B) the aggregate Revolving Loan Commitment less the outstanding balance of the Revolving Loan at such time ("Swing Line Availability. Notwithstanding anything herein to the contrary, the aggregate outstanding principal balance of the Swing Line Loans may exceed the Swing Line Lender’s Revolving Credit Percentage of the Revolving Commitment Amount"). Until the Revolving Commitment Loan Termination Date, the Borrower may from time to time borrow, repay and reborrow Swing Line Loans under this Section 2.1.2. Each Swing Line Loan shall be made pursuant to a Notice of Borrowing delivered by the Borrower to the Administrative Agent in accordance with Section 2.42.2(d)(i). Unless the Swing Line Lender has received at least one Business Day’s 's prior written notice from the Majority Lenders Required Banks instructing it not to make a Swing Line Loan, the Swing Line Lender shall, notwithstanding Advance by reason of the failure of any condition precedent set forth in Section 4.24, be entitled to fund such the Swing Line LoanLender may, regardless of whether the Swing Line Lender is aware of the failure of any condition precedent set forth in Section 4, fund that Swing Line Advance, and to have such Lenders each Bank make Revolving Loans Credit Advances in accordance with Section 2.1.2(c2.2(d)(iii) or purchase participating interests in such Swing Line Loan in accordance with Section 2.1.2(d2.2(d)(iv). Notwithstanding any other provision of this Agreement or the other Loan Documents, each the Swing Line Loan shall constitute a Base Rate Loan. The Borrower shall repay entire unpaid balance of the aggregate outstanding principal amount of each Swing Line Loan upon demand therefor by shall be due and payable in full in immediately available funds on the Administrative AgentLoan Termination Date.

Appears in 1 contract

Samples: Loan Agreement (Direct General Corp)

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