Common use of Swing Line Loan Procedures Clause in Contracts

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line Lender) of each proposed Swing Line Loan not later than 12:00 noon on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan. So long as the Swing Line Lender has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender may make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender shall be deemed to have sold and transferred, and each other Lender shall be deemed to have purchased and received from the Swing Line Lender, an undivided interest and participation to the extent of such other Lender’s Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 3 contracts

Samples: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

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Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon noon, Chicago time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender Bank may make the requested Swing Line Loan. If the Swing Line Lender Bank agrees to make the requested Swing Line Loan, the Swing Line Lender Bank shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferred, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line LenderBank, an undivided interest and participation to the extent of such other Lender’s Bank's Revolving Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 3 contracts

Samples: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)

Swing Line Loan Procedures. The Company shall give written or -------------------------- telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon noon, Chicago time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been ---------- satisfied, the Swing Line Lender Bank may make the requested Swing Line Loan. If the Swing Line Lender Bank agrees to make the requested Swing Line Loan, the Swing Line Lender Bank shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferredtransferred to each other Bank, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line LenderBank, an undivided interest and participation to the extent of such other Lender’s Bank's Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).. -------------

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon 2:00 p.m. on the proposed date of such Swing Line Loan (or, if the amount of such Swing Line Loan is to be deposited into an account maintained with JPMorgan or one of its Affiliates, 3:00 p.m. on the proposed date of such Swing Line Loan). Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be $50,000 or a higher integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender may make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender Bank shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferred, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line LenderBank, an undivided interest and participation to the extent of such other LenderBank’s Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 1 contract

Samples: Credit Agreement (Regal Beloit Corp)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon noon, Chicago time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be $100,000 or an integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section SECTION 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender Bank may make the requested such Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender shall pay over the requested amount to the Company Loan on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferred, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line Lender, Bank an undivided interest and participation to the extent of such other Lender’s Bank's Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3SECTION 2.4.2).

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon noon, Chicago time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section SECTION 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender Bank may make the requested Swing Line Loan. If the Swing Line Lender Bank agrees to make the requested Swing Line Loan, the Swing Line Lender Bank shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferred, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line LenderBank, an undivided interest and participation to the extent of such other Lender’s Bank's Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section SECTION 2.4.3).

Appears in 1 contract

Samples: Credit Agreement (U S Liquids Inc)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line Lender) of each proposed Swing Line Loan not later than 12:00 noon noon, Chicago time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (and amount of such Swing Line Loan, which shall be $500,000 or a Business Day) and amount (which shall be an higher integral multiple of $100,000) of such Swing Line Loan. So long as the Swing Line Lender has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender may make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender shall be deemed to have sold and transferred, and each other Revolving Lender shall be deemed to have purchased and received from the Swing Line Lender, an undivided interest and participation to the extent of such other Revolving Lender’s 's Revolving Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 1 contract

Samples: Credit Agreement (American Italian Pasta Co)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon 2:00 p.m. on the proposed date of such Swing Line Loan (or, if the amount of such Swing Line Loan is to be deposited into an account maintained with Bank of America or one of its Affiliates, 4:00 p.m. on the proposed date of such Swing Line Loan). Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be $50,000 or a higher integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender may make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender Bank shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferred, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line LenderBank, an undivided interest and participation to the extent of such other LenderBank’s Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 1 contract

Samples: Credit Agreement (Regal Beloit Corp)

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Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line Lender) of each proposed Swing Line Loan not later than 12:00 noon noon, San Francisco time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line Lender has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender may make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender shall be deemed to have sold and transferred, and each other Lender shall be deemed to have purchased and received from the Swing Line Lender, an undivided interest and participation to the extent of such other Lender’s 's Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 1 contract

Samples: Credit Agreement (Cupertino Electric Inc)

Swing Line Loan Procedures. The Company shall give written or telephonic (followed promptly by written confirmation thereof) notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon 2:00 p.m. on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be $100,000 or an integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender Bank may make the requested such Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender shall pay over the requested amount to the Company Loan on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferred, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line Lender, Bank an undivided interest and participation to the extent of such other LenderBank’s Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.32.4.2).

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line LenderBank) of each proposed Swing Line Loan not later than 12:00 noon 1:00 p.m., Chicago time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be an integral multiple of $100,000) of such Swing Line Loan, which shall be $100,000 or a higher integral multiple thereof. So long as the Swing Line Lender Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender Bank may make the requested Swing Line Loan. If the Swing Line Lender Bank agrees to make the requested Swing Line Loan, the Swing Line Lender Bank shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender Bank shall be deemed to have sold and transferred, and each other Lender Bank shall be deemed to have purchased and received from the Swing Line LenderBank, an undivided interest and participation to the extent of such other Lender’s Bank's Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 1 contract

Samples: Credit Agreement (Regal Beloit Corp)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line Lender) of each proposed Swing Line Loan not later than 12:00 noon noon, Chicago time, on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent and shall specify the date (and amount of such Swing Line Loan, which shall be $500,000 or a Business Day) and amount (which shall be an higher integral multiple of $100,000) of such Swing Line Loan. So long as the Swing Line Lender has not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan have not been satisfied, the Swing Line Lender may make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, the Swing Line Lender shall pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the Swing Line Lender shall be deemed to have sold and transferred, and each other Lender shall be deemed to have purchased and received from the Swing Line Lender, an undivided interest and participation to the extent of such other Lender’s 's Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).

Appears in 1 contract

Samples: Credit Agreement (American Italian Pasta Co)

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