Swing Line Subfacility. (a) For the convenience of the parties and as an integral part of the transactions contemplated by the Loan Papers, NationsBank, solely for its own account, may make any requested Borrowing of $250,000 or a greater integral multiple thereof, subject to those terms and conditions applicable to Borrowings set forth in SECTION 7.3(b), (c), (d), and (e), directly to Borrower as a Swing Line Borrowing without requiring any other Lender to fund its Pro Rata Part thereof unless and until SECTION 2.2(b) is applicable; PROVIDED THAT: (i) each such Borrowing must occur on a Business Day prior to, and not on or after, the Swing Line Maturity Date; (ii) the aggregate Swing Line Principal Debt outstanding on any date of determination shall not exceed the Swing Line Commitment; (iii) on any date of determination, the Revolver Commitment Usage shall never exceed the Revolver Commitment; (iv) at the time of such Swing Line Borrowing, no Default or Potential Default shall have occurred and be continuing; (v) each Swing Line Borrowing shall bear interest at a rate per annum equal to the LESSER OF (a) the Base Rate plus the Applicable Margin for Base Rate Borrowings under the Revolver Facility, AND (b) the Maximum Rate; PROVIDED THAT at any time after Revolver Lenders are deemed to have purchased pursuant to SECTION 2.2(b) a participation in any Swing Line Borrowing, such Borrowing shall bear interest at the Default Rate; and (vi) no additional Swing Line Borrowing shall be made at any time after any Revolver Lender has refused, notwithstanding the requirements of SECTION 2.2(b), to purchase a participation in any Swing Line Borrowing as provided in such Section, and until such purchase shall occur or until the Swing Line Borrowing has been repaid. Each Borrowing under the Swing Line Subfacility shall be available and may be prepaid on same day telephonic notice from Borrower to NationsBank, SO LONG AS such notice is received by NationsBank prior to 12:00 noon (Dallas, Texas time). Interest on Swing Line Borrowings shall be paid monthly in arrears on the last Business Day of each month. Principal on each Swing Line Borrowing shall be repaid on the last Business Day of the month following such Swing Line Borrowing.
(b) If Borrower fails to repay any Swing Line Borrowing as provided herein (and in any event upon the earlier to occur of a Default or the Swing Line Maturity Date), Administrative Agent shall timely notify each Revolver Lender of such failure and of the date and a...
Swing Line Subfacility. Subject to the terms and conditions ---------------------- hereof, Crestar Bank, in its individual capacity (as such, the "Swing Line Lender"), shall, in its sole and absolute discretion from and after the Effective Date until one Business Day prior to the Maturity Date, make certain revolving credit loans (each, a "Swing Line Loan" and, collectively, the "Swing Line Loans") to the Borrowers; provided, however, that (i) the aggregate -------- ------- - principal amount of all Swing Line Loans shall at no time exceed $10,000,000 (such amount, the "Swing Line Subfacility"), and (ii) the sum of the aggregate -- amount of all Revolving Loans (whether bearing interest at the Base Rate or Applicable LIBOR Rate) plus the aggregate amount of all Swing Line Loans plus ---- the aggregate amount of all Standby Letters of Credit shall at no time exceed the Aggregate Commitment.
Swing Line Subfacility. Borrower acknowledges and agrees that the Swing Line Subfacility remains terminated, and Borrower shall not be allowed to request, and Swing Line Lender shall not be obligated to advance, any Swing Line Loans.
Swing Line Subfacility. (i) In addition to its other agreements with respect to the making of Committed Loans, the Swing Line Lender additionally agrees, on the terms and conditions of the Loan Documents (and subject to the Swing Line Lender's discretion, as provided in Section 1.2(b)(ii)(B)), to make Advances to Borrower from time to time, on a same-day basis, on Banking Days during the Swing Line Availability Period that do not fall within the last three (3) Business Days preceding a noticed reduction in the Maximum Loan Amount pursuant to Section 1.1(a), in an aggregate principal amount not exceeding at any one time the lesser of (A)
(1) the Committed Loan Availability, less (2) the outstanding principal of all Committed Loans other than Swing Line Borrowings, and (B) Fifty Million Dollars ($50,000,000) (the foregoing subfacility, the "Swing Line"). The Swing Line Lender's obligation to fund Swing Line Borrowings shall be unaffected by its making of any Committed Loans or issuance of Letters of Credit, notwithstanding that the sum of the Swing Line Borrowings plus the Swing Line Lender's Pro Rata Share of the aggregate principal amount of the outstanding Committed Loans and Letter of Credit Exposure, may exceed the Swing Line Lender's Commitment.
Swing Line Subfacility. (a) Notwithstanding anything contained herein to the contrary, SunTrust hereby establishes a subfacility within its Commitment of up to an aggregate of $2,000,000 (the "SWING LINE") to accommodate the short term borrowing needs of the Company. Sections 3.01 and 3.02 shall apply equally to Borrowings made through the Swing Line and Borrowings or Interest Rate Conversions requested or made through Section 2.02. The aggregate amount of all Borrowings under the Swing Line Facility shall not at any time exceed $2,000,000, and to the extent any Borrowing under the Swing Line Facility would cause such a result after giving effect thereto, the Company shall be required to request such Borrowing under Section 2.02(a) hereof. Any Borrowing made by the Company under the Swing Line shall be for a period not to exceed 30 days.
(b) Whenever the Company desires to make a Borrowing under the Swing Line, it shall give SunTrust prior written or telephonic notice (promptly confirmed in writing) of any requested Borrowing under the Swing Line (each a "SWING LINE BORROWING NOTICE") prior to 11:00 a.m. (Ft. Lauderdale, Florida time) on the date of such Borrowing. Each Swing Line Borrowing Notice shall specify the aggregate principal amount of the Swing Line Borrowing, the date of such Swing Line Borrowing (which shall be a Business Day) and the interest period to be applicable thereto. SunTrust shall make available to the Company the amount of the Borrowing requested in the Swing Line Borrowing Notice not later than 3:00 p.m. (Ft. Lauderdale, Florida time) on such date, PROVIDED that (i) no Default or Event of Default shall have occurred and be continuing and (ii) the aggregated principle amount of the Swing Line Borrowings, including the requested Borrowing under such Swing Line Borrowing Notice, shall be no greater than $2,000,000.
(c) The Company's obligation to pay the principal of, and interest on, the Swing Line Loans shall be evidenced by the records of SunTrust and by the Swing Line Note payable to SunTrust (or its assignee) completed in conformity with this Agreement.
(d) The outstanding principal amount under each Swing Line Loan shall be due and payable in full on the Commitment Termination Date.
(e) Each Borrowing under the Swing Line shall deemed to be made under SunTrust's Commitment to the extent of any Availability thereunder on the date such Borrowing is made.
Swing Line Subfacility. 27 2.6 EXTENSION OF MATURITY DATE.................................... 29 2.7
Swing Line Subfacility. 16 2.5 Termination....................................................................................17
Swing Line Subfacility. 19 2.5 Competitive Bid Subfacility................................................... 21 2.6 Lenders....................................................................... 23
Swing Line Subfacility. 17 Third Amended and Restated Credit Agreement
Swing Line Subfacility. Subject to and upon the terms and conditions herein set forth, the Swing Line Lender severally establishes in favor of the Borrower, from on and after the Closing Date, but prior to the Maturity Date, its Swing Line Subfacility within its Commitment. Sections 3.01 and 3.02 shall apply equally to Borrowings made under the Swing Line Subfacility and Borrowings requested or made through Section 2.01. The Swing Line Lender, subject to and upon the terms and conditions set forth herein, from time to time, agrees to make to the Borrower Swing Line Loans in an aggregate principal amount outstanding at any time not to exceed the Swing Line Subfacility. Borrower shall be entitled to repay and reborrow Swing Line Loans in accordance with the provisions hereof. Notwithstanding any provision of this Agreement to the contrary, the sum of (x) the aggregate principal amount of the Revolving Loans, plus (y) the aggregate principal amount of the Swing Line Loans at any one time outstanding, plus (z) the Letter of Credit Obligations, shall not exceed the aggregate Commitments.
