Swingline Credit Clause Samples

Swingline Credit. Subject to all the terms and conditions hereof, and so long as no Default exists, on such Business Days prior to the Revolving Credit Termination Date as Gerber may from time to time request (each a “Swingline Loan Closing Date”) by telephone notice (the “Swingline Loan Notice”) to the Swingline Lender and to the Agent, if other than the Swingline Lender, given not later than 3:00 p.m., Boston time, on the Swingline Loan Closing Date, which telephone notice shall be promptly confirmed in writing, the Swingline Lender will lend to the Borrowers such amount, which shall not be less than $500,000 and shall be in an integral multiple of $100,000, as Gerber shall have so requested, by causing the Agent to debit the amount of such loan to the Swingline Loan Account and to credit the amount thereof to the general account of Gerber with the Agent; provided, however, that in no event shall the aggregate principal amount of all loans at any one time outstanding under this Section 2.7 exceed $5,000,000 (the “Swingline Commitment”); and provided, further, that in no event shall the combined aggregate principal amount of the Revolving Credit Advances, Swingline Loans and the Letter of Credit Exposure exceed the Maximum Revolving Credit Amount. In connection with each request for a loan under this Section 2.7, if requested by Agent, Gerber shall furnish to the Agent by telecopy no later than 2:00 p.m., Boston time, on the applicable Swingline Loan Closing Date (with a duplicate furnished promptly by mail) a certificate dated such Swingline Loan Closing Date and signed by Gerber, attesting to satisfaction of the conditions contained in Section 3.2 hereof. The Borrowers may use the proceeds of Revolving Credit Advances from (a) the Agent shall debit to the Swingline Loan Account, and the Swingline Loan Account shall evidence, the principal amount of loans from time to time made by the Swingline Lender to the Borrowers pursuant to this Section 2.7, and (b) the Agent shall credit the Swingline Loan Account with all payments made on account of the principal amount of Indebtedness evidenced thereby. The principal amount of Indebtedness from time to time evidenced by the Swingline Loan Account is referred to as the “Swingline Loan.”