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 of each proposed Swing Line Loan not later than 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 applicable Swing Line Lender and shall specify the date and amount of such Swing Line Loan, which shall be $50,000 or a higher integral multiple thereof. So long as the applicable 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, such Swing Line Lender may, 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 Lender shall be deemed to have sold and transferred, and each Facility A Revolving Lender shall be deemed to have purchased and received from such Swing Line Lender, an undivided interest and participation to the extent of such 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 notice to the applicable Administrative Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Lenders) of each proposed Swing Line Loan not later than 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 applicable Swing Line Lender Administrative Agent and shall specify the date and amount of such Swing Line Loan, which shall be $50,000 or a higher integral multiple thereof. So long as the applicable Swing Line Lender 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, such each Swing Line Lender may, in its sole discretion, 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 applicable such Swing Line Lender shall be deemed to have sold and transferred, and each Facility A Revolving Lender shall be deemed to have purchased and received from such Swing Line Lender, an undivided interest and participation to the extent of such 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 notice to the applicable U.S. Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Bank) of each proposed Swing Line Loan not later than 2:00 p.m. (New York City 12:00 noon, Chicago time) , on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the applicable Swing Line Lender U.S. Agent and shall specify the date and amount of such Swing Line Loan, which shall be $50,000 not less than U.S.$100,000 or a higher integral multiple thereof. So long as the applicable 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 satisfiedsatisfied (and does not have knowledge of any default in the payment of any principal, such interest or fees to be paid to either Agent for the account of the applicable Banks), the Swing Line Lender mayBank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, in its sole discretion, 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 applicable Swing Line Lender Bank shall be deemed to have sold and transferred, and each Facility A Revolving Lender other U.S. Bank shall be deemed to have purchased and received from such the Swing Line LenderBank, an undivided interest and participation to the extent of such Facility A Revolving Lender’s Facility A other U.S. Bank's Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.32.5.3).. -------------
Appears in 1 contract
Samples: Credit Agreement (United Rentals North America Inc)
Swing Line Loan Procedures. The Company shall give written or telephonic notice to the applicable Administrative Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Lender) of each proposed Swing Line Loan not later than 2:00 p.m. (New York City 12:00 noon, Chicago time) , on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the applicable Swing Line Lender Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be $500,000 or a higher 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 applicable 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, such the Swing Line Lender maymay make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, in its sole discretion, 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 applicable Swing Line Lender shall be deemed to have sold and transferred, and each Facility A other Revolving Lender shall be deemed to have purchased and received from such the Swing Line Lender, an undivided interest and participation to the extent of such Facility A other Revolving Lender’s Facility A Revolving Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).. 2.4.3
Appears in 1 contract
Samples: Credit Agreement (Middleby Corp)
Swing Line Loan Procedures. The Company Borrower shall give written or telephonic notice to the applicable Administrative Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Lender) of each proposed Swing Line Loan not later than 2:00 p.m. 12:00 noon (New York City Chicago time) on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the applicable Swing Line Lender Administrative Agent and shall specify the date and amount of such Swing Line Loan, which shall be $50,000 100,000 or a higher integral multiple thereof. So long as the applicable Swing Line Lender has not received written notice that the conditions precedent set forth in Section 11 5.2 with respect to the making of such Swing Line Loan have not been satisfiedsatisfied (and does not have actual knowledge of any default in the payment of any principal, such interest or fees to be paid to either the Administrative Agent for the account of the applicable Lenders), the Swing Line Lender may, in its sole discretion, shall make the requested Swing Line Loan and shall pay over the requested amount to the Company Borrower on the requested borrowing date. Concurrently with the making of any Swing Line Loan, the applicable Swing Line Lender shall be deemed to have sold and transferred, and each Facility A other Revolving Lender shall be deemed to have irrevocably purchased and received from such the Swing Line Lender, an undivided interest and participation to the extent of such Facility A other Revolving Lender’s Facility A 's Revolving Loan Percentage in such Swing Line Loan (but such participation shall remain unfunded until required to be funded pursuant to Section 2.4.3).such
Appears in 1 contract
Samples: Credit Agreement (Fidelity National Financial Inc /De/)
Swing Line Loan Procedures. The Company shall give written or telephonic notice to the applicable Administrative Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Lender) of each proposed Swing Line Loan not later than 2:00 p.m. (New York City 12:00 noon, Chicago time) , on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the applicable Swing Line Lender 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 applicable 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, such the Swing Line Lender maymay make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, in its sole discretion, 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 applicable Swing Line Lender shall be deemed to have sold and transferred, and each Facility A other Revolving Lender shall be deemed to have purchased and received from such the Swing Line Lender, an undivided interest and participation to the extent of such Facility A other Revolving Lender’s Facility A '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 (Middleby Corp)
Swing Line Loan Procedures. The Company shall give written or -------------------------- telephonic notice to the applicable Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Bank) of each proposed Swing Line Loan not later than 2:00 p.m. (New York City 12:00 noon, Chicago time) , on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the applicable Swing Line Lender Agent and shall specify the date and amount of such Swing Line Loan, which shall be not less than $50,000 100,000 or a higher integral multiple thereof. So long as the applicable 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, such the Swing Line Lender mayBank may make the requested Swing Line Loan. If the Swing Line Bank agrees to make the requested Swing Line Loan, in its sole discretion, 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 applicable Swing Line Lender Bank shall be deemed to have sold and transferredtransferred to each other Revolving Bank, and each Facility A other Revolving Lender Bank shall be deemed to have purchased and received from such the Swing Line LenderBank, an undivided interest and participation to the extent of such Facility A other Revolving Lender’s Facility A 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
Swing Line Loan Procedures. The Company Borrower shall give written or telephonic notice to the applicable Administrative Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Lender) of each proposed Swing Line Loan not later than 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 applicable Swing Line Lender Administrative Agent and shall specify the date (which shall be a Business Day) and amount (which shall be $500,000 or a higher 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 applicable Swing Line Lender has not received written notice that the conditions precedent set forth in Section 11 12.2 with respect to the making of such Swing Line Loan have not been satisfied, such the Swing Line Lender maymay make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, in its sole discretion, the Swing Line Lender shall pay over the requested amount to the Company Borrower on the requested borrowing date. not later than 4:00 p.m. Concurrently with the making of any Swing Line Loan, the applicable Swing Line Lender shall be deemed to have sold and transferred, and each Facility A other Revolving Lender shall be deemed to have purchased and received from such the Swing Line Lender, an undivided interest and participation to the extent of such Facility A other Revolving Lender’s Facility A 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
Swing Line Loan Procedures. The Company shall give written or telephonic notice to the applicable Administrative Agent (which shall promptly inform the Swing Line Lender with a copy to the Administrative Agent Lender) of each proposed Swing Line Loan not later than 2:00 p.m. (New York City 12:00 noon, Chicago time) , on the proposed date of such Swing Line Loan. Each such notice shall be effective upon receipt by the applicable Swing Line Lender 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 applicable 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, such the Swing Line Lender maymay make the requested Swing Line Loan. If the Swing Line Lender agrees to make the requested Swing Line Loan, in its sole discretion, 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 applicable Swing Line Lender shall be deemed to have sold and transferred, and each Facility A Revolving other Lender shall be deemed to have purchased and received from such the Swing Line Lender, an undivided interest and participation to the extent of such Facility A Revolving other 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 1 contract
Samples: Credit Agreement (Middleby Corp)