Common use of Swing Loan Commitment Clause in Contracts

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified and the agreements of the other Lenders specified in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loans, the Swing Loan Lender may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, the Expiration Date, in an aggregate maximum principal amount not to exceed the Swing Loan Commitment, provided that after giving effect to such Swing Loan (i) the aggregate amount of any Lender’s Revolving Credit Loans plus such Lender’s Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such Lender’s Revolving Credit Commitment and (ii) the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments of the Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b).

Appears in 2 contracts

Samples: Credit Agreement (Factset Research Systems Inc), Credit Agreement (Factset Research Systems Inc)

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Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified and the agreements of the other Lenders specified in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loansset forth, the Swing Loan Lender may, at its option, cancelable at any time for any reason whatsoever, PNC Bank shall make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date date hereof to, but not including, the Expiration Date, in an aggregate maximum principal amount up to but not to exceed in excess of the Swing Loan Commitment, provided that . The Swing Loan Commitment is a sublimit of the Revolving Credit Commitments and after giving effect to such any Swing Loan Loan: (i) the aggregate amount of any Lender’s Revolving Credit Loans plus such Lender’s Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such Lender’s Revolving Credit Commitment and (iia) the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments of all the Lenders, and (b) the Borrower shall be in compliance with the covenant contained in the first sentence of Section 7.2.10 [Borrowing Base]. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b)2.1.2. Swing Loans shall, at the option of PNC Bank after consultation with the Borrower, be repaid by the proceeds of a Revolving Credit Loan deemed to have been made for such purpose pursuant to Section 2.8 [Borrowings to Repay Swing Loans] and shall be subject to the provisions of Section 4.8 [Settlement Date Procedures].

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified set forth and the agreements of the other Lenders specified set forth in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loans, the Swing Loan Lender and in order to facilitate loans and repayments between Settlement Dates, PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, the 5-Year Revolver Expiration Date, in an aggregate maximum principal amount up to but not to exceed the Swing Loan Commitmentin excess of $40,000,000, provided that after giving effect to such Swing Loan (i) the aggregate amount of any Lender’s 5-Year Revolving Credit Loans plus such Lender’s 5-Year Revolver Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such LenderXxxxxx’s 5-Year Revolving Credit Commitment and (ii) the 5-Year Revolving Facility Usage shall not exceed the aggregate 5-Year Revolving Credit Commitments of the 5- Year Revolver Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b2.1(c).

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified and the agreements of the other Lenders specified in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loansset forth, the Swing Loan Lender Bank may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the "Swing Loans") to the Borrower at any time or from time to time after the Closing Date to, but not including, date hereof to the Expiration Date, in an aggregate maximum principal amount up to but not to exceed in excess of $10,000,000 (the "Swing Loan Commitment"), provided that after giving effect that, notwithstanding the demand nature of Borrower's obligation to such repay Swing Loans, all Swing Loan outstanding shall be due and payable in full on the fifteenth (15th) day of each month (or, if earlier, on the Expiration Date) and provided further that (i) the aggregate principal amount of any Lender’s Swing Loans and the Revolving Credit Loans plus such Lender’s of Swing Loan Bank at any time outstanding and of Swing Loan Bank's Ratable Share of the outstanding Swing Loans and Letter Letters of Credit Obligations Outstanding shall not exceed such Lender’s the Revolving Credit Commitment of Swing Loan Bank, and (ii) the Revolving Facility Usage at any one time outstanding shall not exceed the aggregate Revolving Credit Commitments of all the Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Too Inc)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified set forth and the agreements of the other Lenders specified set forth in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loans, the Swing Loan Lender and in order to facilitate loans and repayments between Settlement Dates, PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, the 5-Year Revolver Expiration Date, in an aggregate maximum principal amount up to but not to exceed the Swing Loan Commitmentin excess of $40,000,000, provided that after giving effect to such Swing Loan (i) the aggregate amount of any Lender’s 5-Year Revolving Credit Loans plus such Lender’s 5-Year Revolver Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such LenderXxxxxx’s 5-Year Revolving Credit Commitment and (ii) the 5-Year Revolving Facility Usage shall not exceed the aggregate 5-Year Revolving Credit Commitments of the 5-Year Revolver Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b2.1(c).

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified set forth and the agreements of the other Lenders specified set forth in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loans, the Swing Loan Lender and in order to facilitate loans and repayments between Settlement Dates, PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, the 5-Year Revolver Expiration Date, in an aggregate maximum principal amount up to but not to exceed the Swing Loan Commitmentin excess of $45,000,000, provided that after giving effect to such Swing Loan (i) the aggregate amount of any Lender’s 5-Year Revolving Credit Loans plus such Lender’s 5-Year Revolver Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such LenderXxxxxx’s 5-Year Revolving Credit 41 Commitment and (ii) the 5-Year Revolving Facility Usage shall not exceed the aggregate 5-Year Revolving Credit Commitments of the 5-Year Revolver Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b2.1(c).

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified and the agreements of the other Lenders specified in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loansset forth, the Swing Loan Lender Bank may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, date hereof to the Expiration Date, in an aggregate maximum principal amount up to but not to exceed in excess of $10,000,000 (the Swing Loan Commitment”), provided that after giving effect that, notwithstanding the demand nature of Borrower’s obligation to such repay Swing Loans, all Swing Loan outstanding shall be due and payable in full on the fifteenth (15th) day of each month (or, if earlier, on the Expiration Date) and provided further that (i) the aggregate principal amount of any Lender’s Swing Loans and the Revolving Credit Loans plus such Lenderof Swing Loan Bank at any time outstanding and of Swing Loan Bank’s Ratable Share of the outstanding Swing Loans and Letter Letters of Credit Obligations Outstanding shall not exceed such Lender’s the Revolving Credit Commitment of Swing Loan Bank, and (ii) the Revolving Facility Usage at any one time outstanding shall not exceed the aggregate Revolving Credit Commitments of all the Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Too, Inc.)

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Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified and the agreements of the other Lenders specified in Section 2.6 2.5 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loans, the Swing Loan Lender PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower Borrowers at any time or from time to time after the Closing Date to, but not including, the Expiration Date, in an aggregate maximum principal amount up to but not to exceed in excess of the Swing Loan Commitment, provided that after giving effect to such Swing Loan Loan, (i) the aggregate amount of any Lender’s Revolving Credit Loans plus such Lender’s Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such Lender’s Revolving Credit Commitment and (ii) the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments of the Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower Borrowers may borrow, repay and reborrow pursuant to this Section 2.1(b)2.1.2.

Appears in 1 contract

Samples: Credit Agreement (Crocs, Inc.)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified set forth and the agreements of the other Lenders specified set forth in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loans, the Swing Loan Lender and in order to facilitate loans and repayments between Settlement Dates, PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, the 5-Year Revolver Expiration Date, in an aggregate maximum principal amount up to but not to exceed the Swing Loan Commitmentin excess of $40,000,000, provided that after giving effect to such Swing Loan (i) the aggregate amount of any Lender’s 5-Year Revolving Credit Loans plus such Lender’s 5-Year Revolver Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such Lender’s 5-Year Revolving Credit Commitment and (ii) the 5-Year Revolving Facility Usage shall not exceed the aggregate 5-Year Revolving Credit Commitments of the 5-Year Revolver Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b2.1(c).

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified set forth and the agreements of the other Lenders specified set forth in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loans, the Swing Loan Lender and in order to facilitate loans and repayments between Settlement Dates, PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, the Expiration Date, in an aggregate maximum principal amount up to but not to exceed the Swing Loan Commitmentin excess of $15,000,000, provided that after giving effect to such Swing Loan (i) the aggregate amount of any Lender’s Revolving Credit Loans plus such Lender’s Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations shall not exceed such LenderXxxxxx’s Revolving Credit Commitment and (ii) the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments of the Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1(b).. 2.2

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein specified and the agreements of the other Lenders specified in Section 2.6 [Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans] with respect to Swing Loansset forth, the Swing Loan Lender Bank may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the “Swing Loans”) to the Borrower at any time or from time to time after the Closing Date to, but not including, date hereof to the Expiration Date, in an aggregate maximum principal amount up to but not to exceed in excess of the Swing Loan Commitment, provided that after giving effect that, notwithstanding the demand nature of Borrower’s obligation to such repay Swing Loans, all Swing Loan outstanding shall be due and payable in full on the fifteenth (15th) day of each month (or, if earlier, on the Expiration Date) and provided further that (i) the aggregate principal amount of any Lender’s Swing Loans and the Revolving Credit Loans plus such Lenderof Swing Loan Bank at any time outstanding and of Swing Loan Bank’s Ratable Share of the outstanding Swing Loans and Letter Letters of Credit Obligations Outstanding shall not exceed such Lender’s the Revolving Credit Commitment of Swing Loan Bank, and (ii) the Revolving Facility Usage at any one time outstanding shall not exceed the aggregate Revolving Credit Commitments of all the Revolving Credit Lenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow Swing Loans pursuant to this Section 2.1(b2.01(c).

Appears in 1 contract

Samples: Credit Agreement (Tween Brands, Inc.)

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