Common use of Swing Line Participation Obligations Unconditional Clause in Contracts

Swing Line Participation Obligations Unconditional. (a) Except as provided in Section 2.18 and Section 2.19, each Revolving Facility Lender's obligation to make Revolving Loans pursuant to Section 2.18 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.19 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (a) any set-off, counterclaim, recoupment, defense or other right which such Revolving Facility Lender may have against the Applicable Swing Line Lender, any Loan Party or any other Person for any reason whatsoever; (b) the occurrence or continuance of an Event of Default; (c) any adverse change in the condition (financial or otherwise) of any Loan Party or any other Person; (d) any breach of this Agreement by any Loan Party or any other Revolving Facility Lender; (e) any inability of the applicable Swing Line Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any Swing Line Loan is to be refunded or any participation interest therein is to be purchased; or (f) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. (b) Notwithstanding the provisions of subsection 2.20(a), no Revolving Facility Lender shall be required to make any Revolving Loan to any Applicable Borrower to refund a Swing Line Loan pursuant to Section 2.18 or to purchase a participation interest in a Swing Line Loan pursuant to Section 2.19 if, prior to the making by the Applicable Swing Line Lender of such Swing Line Loan, such Swing Line Lender received written notice from such Revolving Facility Lender specifying that such Revolving Facility Lender believes in good faith that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan; provided, however, that the obligation of such Revolving Facility Lender to make such Revolving Loans and to purchase such participation interests shall be reinstated upon the earlier to occur of (i) the date on which such Revolving Facility Lender notifies the Applicable Swing Line Lender that its prior notice has been withdrawn and (ii) the date on which all conditions precedent to the making of such Swing Line Loan have been satisfied (or waived by the Required Revolving Facility Lenders, the Required Lenders or all Lenders, as applicable).

Appears in 2 contracts

Samples: Credit Agreement (Mt Investors Inc), Credit Agreement (Mt Investors Inc/)

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Swing Line Participation Obligations Unconditional. (a) Except as provided in Section 2.18 and Section 2.19, each Each Revolving Facility Lender's obligation to make Revolving Loans pursuant to Section 2.18 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.19 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (a) any set-off, counterclaim, recoupment, defense or other right which such Revolving Facility Lender may have against the Applicable Swing Line Lender, any Loan Party or any other Person for any reason whatsoever; (b) the occurrence or continuance of an Event of Default; (c) any adverse change in the condition (financial or otherwise) of any Loan Party or any other Person; (d) any breach of this Agreement by any Loan Party or any other Revolving Facility Lender; (e) any inability of the applicable Swing Line Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any Swing Line Loan is to be refunded or any participation interest therein is to be purchased; or (f) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. (b) Notwithstanding the provisions of subsection 2.20(a), no Revolving Facility Lender shall be required to make any Revolving Loan to any Applicable either Borrower to refund a Swing Line Loan pursuant to Section 2.18 or to purchase a participation interest in a Swing Line Loan pursuant to Section 2.19 if, prior to the making by the Applicable Swing Line Lender of such Swing Line Loan, such Swing Line Lender received written notice from such Revolving Facility Lender specifying that such Revolving Facility Lender believes in good faith that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan; provided, however, that the obligation of such Revolving Facility Lender to make such Revolving Loans and to purchase such participation interests shall be reinstated upon the earlier to occur of (i) the date on which such Revolving Facility Lender notifies the Applicable Swing Line Lender that its prior notice has been withdrawn and (ii) the date on which all conditions precedent to the making of such Swing Line Loan have been satisfied (or waived by the Required Revolving Facility Lenders, the Required Lenders or all Lenders, as applicable).

Appears in 1 contract

Samples: Credit Agreement (Mettler Toledo Holding Inc)

Swing Line Participation Obligations Unconditional. (a) Except as provided in Section 2.18 and Section 2.19, each Revolving Facility Lender's obligation to make Revolving Loans pursuant to Section 2.18 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.19 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (ai) any set-set- off, counterclaim, recoupment, defense or other right which such Revolving Facility Lender may have against the Applicable Swing Line Lender, any Loan Party or any other Person for any reason whatsoever; (bii) the occurrence or continuance of an Event of Default; (ciii) any adverse change in the condition (financial or otherwise) of any Loan Party or any other Person; (div) any breach of this Agreement by any Loan Party or any other Revolving Facility Lender; (ev) any inability of the applicable Swing Line any Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any Swing Line Loan is to be refunded or any participation interest therein is to be purchased; or (fvi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. (b) Notwithstanding the provisions of subsection 2.20(a), no Revolving Facility Lender shall be required to make any Revolving Loan to any the Applicable Borrower to refund a Swing Line Loan pursuant to Section 2.18 or to purchase a participation interest in a Swing Line Loan pursuant to Section 2.19 if, prior to the making by the Applicable Swing Line Lender of such Swing Line Loan, such the Swing Line Lender received written notice from such Revolving Facility Lender specifying that such Revolving Facility Lender believes in good faith that one or more of the conditions con- ditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan; provided, however, that the obligation of such Revolving Facility Lender to make such Revolving Loans and to purchase such participation interests shall be reinstated upon the earlier to occur of (i) the date on which such Revolving Facility Lender notifies the Applicable Swing Line Lender that its prior notice has been withdrawn and (ii) the date on which all conditions precedent to the making of such Swing Line Loan have been satisfied (or waived by the Required Revolving Facility Lenders, the Required Lenders or all Lenders, as applicable).

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Greif Brothers Corp)

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Swing Line Participation Obligations Unconditional. (a) Except as provided in Section 2.18 and Section 2.19, each Revolving Facility Lender's obligation to make Revolving Loans pursuant to Section 2.18 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.19 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (a) any set-set- off, counterclaim, recoupment, defense or other right which such Revolving Facility Lender may have against the Applicable Swing Line Lender, any Loan Party or any other Person for any reason whatsoever; (b) the occurrence or continuance of an Event of Default; (c) any adverse change in the condition (financial or otherwise) of any Loan Party or any other Person; (d) any breach of this Agreement by any Loan Party or any other Revolving Facility Lender; (e) any inability of the applicable Swing Line Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any Swing Line Loan is to be refunded or any participation interest therein is to be purchased; or (f) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. (b) Notwithstanding the provisions of subsection 2.20(a), no Revolving Facility Lender shall be required to make any Revolving Loan to any Applicable Borrower to refund a Swing Line Loan pursuant to Section 2.18 or to purchase a participation interest in a Swing Line Loan pursuant to Section 2.19 if, prior to the making by the Applicable Swing Line Lender of such Swing Line Loan, such Swing Line Lender received written notice from such Revolving Facility Lender specifying that such Revolving Facility Lender believes in good faith that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan; provided, however, that the obligation of such Revolving Facility Lender to make such Revolving Loans and to purchase such participation interests shall be reinstated upon the earlier to occur of (i) the date on which such Revolving Facility Lender notifies the Applicable Swing Line Lender that its prior notice has been withdrawn and (ii) the date on which all conditions precedent to the making of such Swing Line Loan have been satisfied (or waived by the Required Revolving Facility Lenders, the Required Lenders or all Lenders, as applicable).

Appears in 1 contract

Samples: Credit Agreement (Mt Investors Inc)

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