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 Bank) of each proposed Swing Line Loan not later than 12:00 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 not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line 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 Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line 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 Bank shall be deemed to have sold and transferred, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, an undivided interest and participation to the extent of such other 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)

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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 BankLender) of each proposed Swing Line Loan not later than 12:00 noon, Chicago time, 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, which shall be not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line Bank 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 Bank Lender may make the requested Swing Line Loan. If the Swing Line Bank Lender agrees to make the requested Swing Line Loan, the Swing Line Bank 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 Bank Lender shall be deemed to have sold and transferred, and each other Bank Lender shall be deemed to have purchased and received from the Swing Line BankLender, an undivided interest and participation to the extent of such other Bank's Revolving 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: Security Agreement (Middleby Corp), Pledge Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line BankLenders) of each proposed Swing Line Loan not later than 12:00 noon, Chicago 2:00 p.m. (New York City 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 not less than $100,000 50,000 or a higher integral multiple thereof. So long as the Swing Line Bank has Lenders have not received written notice that the conditions precedent set forth in Section 11 with respect to the making of such Swing Line Loan Loans have not been satisfied, the each Swing Line Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line Bank Lender shall pay over its ratable portion of the requested amount to the Company on the requested borrowing datedate (such ratable portion to be calculated based upon such Swing Line Lender’s Revolving Commitment to the total Revolving Commitments of all the Swing Line Lenders). Concurrently with the making of any Swing Line Loan, the such Swing Line Bank Lender shall be deemed to have sold and transferred, and each other Bank Revolving Lender shall be deemed to have purchased and received from the such Swing Line BankLender, an undivided interest and participation to the extent of such other Bank's Revolving 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 2 contracts

Samples: Credit Agreement (Regal Beloit Corp), Credit Agreement (Regal Beloit Corp)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the applicable Swing Line Lender with a copy to the Administrative Agent (which shall promptly inform the Swing Line Bank) of each proposed Swing Line Loan not later than 12:00 noon, Chicago 2:00 p.m. (New York City time, ) on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the Administrative Agent applicable Swing Line Lender and shall specify the date and amount of such Swing Line Loan, which shall be not less than $100,000 50,000 or a higher integral multiple thereof. So long as the applicable Swing Line Bank 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 such Swing Line Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line LoanLender may, the Swing Line Bank shall in its sole discretion, pay over the requested amount to the Company on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the applicable Swing Line Bank Lender shall be deemed to have sold and transferred, and each other Bank Facility A Revolving Lender shall be deemed to have purchased and received from the such Swing Line BankLender, an undivided interest and participation to the extent of such other Bank's Facility A Revolving Lender’s Facility A 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 2 contracts

Samples: Credit Agreement (Regal Beloit Corp), Credit Agreement (Regal Beloit Corp)

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 Bank) of each proposed Swing Line Loan not later than 12:00 noon, Chicago time, 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 and amount of such Swing Line Loan, which shall be not less than $100,000 or a higher an integral multiple thereof. So long as the Swing Line 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 Bank may make the requested such Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line Bank 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 Bank shall be deemed to have sold and transferred, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, Bank an undivided interest and participation to the extent of such other Bank's Revolving ’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 BankLender) of each proposed Swing Line Loan not later than 12:00 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 not less than $100,000 500,000 or a higher integral multiple thereofof $100,000. So long as the Swing Line Bank 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 Bank Lender may make the requested Swing Line Loan. If the Swing Line Bank Lender agrees to make the requested Swing Line Loan, the Swing Line Bank 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 Bank Lender shall be deemed to have sold and transferred, and each other Bank Lender shall be deemed to have purchased and received from the Swing Line BankLender, an undivided interest and participation to the extent of such other BankLender'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 Bank) of each proposed Swing Line Loan not later than 12:00 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 not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line 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 Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line 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 Bank shall be deemed to have sold and transferred, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, an undivided interest and participation to the extent of such other Bank's Revolving 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 Bank) of each proposed Swing Line Loan not later than 12:00 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 not less than $100,000 or a higher an integral multiple thereof. So long as the Swing Line 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 Bank may make the requested such Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line Bank 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 Bank shall be deemed to have sold and transferred, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, Bank an undivided interest and participation to the extent of such other Bank's Revolving Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3SECTION 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 Bank) of each proposed Swing Line Loan not later than 12:00 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 not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line 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 Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line 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 Bank shall be deemed to have sold and transferredtransferred to each other Revolving Bank, and each other Revolving Bank shall be deemed to have purchased and received from the Swing Line Bank, an undivided interest and participation to the extent of such other Revolving 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 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 Bank) of each proposed Swing Line Loan not later than 12:00 noon2:00 p.m. on the proposed date of such Swing Line Loan (or, Chicago timeif 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 and amount of such Swing Line Loan, which shall be not less than $100,000 50,000 or a higher integral multiple thereof. So long as the Swing Line 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 Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line 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 Bank shall be deemed to have sold and transferred, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, an undivided interest and participation to the extent of such other Bank's Revolving ’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: Assignment 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 BankLender) of each proposed Swing Line Loan not later than 12:00 noon, Chicago 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 and amount 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 Bank 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 Bank Lender may make the requested Swing Line Loan. If the Swing Line Bank Lender agrees to make the requested Swing Line Loan, the Swing Line Bank 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 Bank Lender shall be deemed to have sold and transferred, and each other Bank Lender shall be deemed to have purchased and received from the Swing Line BankLender, an undivided interest and participation to the extent of such other BankLender'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 (Cupertino Electric Inc)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line BankLender) of each proposed Swing Line Loan not later than 12:00 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 Bank 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 Bank Lender may make the requested Swing Line Loan. If the Swing Line Bank Lender agrees to make the requested Swing Line Loan, the Swing Line Bank 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 Bank Lender shall be deemed to have sold and transferred, and each other Bank Lender shall be deemed to have purchased and received from the Swing Line BankLender, an undivided interest and participation to the extent of such other Bank's Revolving 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 1 contract

Samples: Credit Agreement (Middleby Corp)

Swing Line Loan Procedures. The Company shall give written or telephonic notice to the Administrative Agent (which shall promptly inform the Swing Line Bank) of each proposed Swing Line Loan not later than 12:00 noon1:00 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 and amount 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 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 Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line 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 Bank shall be deemed to have sold and transferred, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, an undivided interest and participation to the extent of such other 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 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 Bank) of each proposed Swing Line Loan not later than 12:00 noon2:00 p.m. on the proposed date of such Swing Line Loan (or, Chicago timeif 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 and amount of such Swing Line Loan, which shall be not less than $100,000 50,000 or a higher integral multiple thereof. So long as the Swing Line 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 Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line 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 Bank shall be deemed to have sold and transferred, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, an undivided interest and participation to the extent of such other Bank's Revolving ’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 BankLender) of each proposed Swing Line Loan not later than 12:00 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 not less than $100,000 500,000 or a higher integral multiple thereofof $100,000. So long as the Swing Line Bank 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 Bank Lender may make the requested Swing Line Loan. If the Swing Line Bank Lender agrees to make the requested Swing Line Loan, the Swing Line Bank 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 Bank Lender shall be deemed to have sold and transferred, and each other Bank Revolving Lender shall be deemed to have purchased and received from the Swing Line BankLender, an undivided interest and participation to the extent of such other BankRevolving Lender'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 Bank) of each proposed Swing Line Loan not later than 12:00 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 not less than $100,000 or a higher integral multiple thereof. So long as the Swing Line 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 Bank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, the Swing Line 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 Bank shall be deemed to have sold and transferredtransferred to each other Bank, and each other Bank shall be deemed to have purchased and received from the Swing Line Bank, an undivided interest and participation to the extent of such other 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 1 contract

Samples: Credit Agreement (United Road Services Inc)

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