Swingline Loan Subfacility Clause Samples

A Swingline Loan Subfacility is a provision within a credit agreement that allows for the rapid issuance of short-term loans, typically by a designated Swingline Lender, to the borrower. These loans are usually smaller in amount and have shorter maturities than standard revolving loans, enabling the borrower to quickly access funds for immediate cash flow needs, such as covering payroll or unexpected expenses. The core practical function of this clause is to provide flexibility and immediate liquidity, addressing short-term funding gaps without the need for a full syndicate approval process.
Swingline Loan Subfacility. During the Availability Period for the Revolving Credit Facility, subject to the terms and conditions set forth herein, the Swingline Lender agrees to make certain revolving credit loans (each, a “Swingline Loan” and collectively, the “Swingline Loans”) to the Revolving Credit Borrowers in Dollars from time to time on any Business Day provided that, (a) the aggregate amount of Swingline Loans outstanding at any time shall not exceed the Swingline Committed Amount, (b) the Revolving Credit Exposure of any Revolving Credit Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, (c) the Total Revolving Credit Outstandings shall not exceed the Line Cap, and (d) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Dollar Cap. Swingline Loans may be repaid and reborrowed in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Swingline Lender shall not be required to make a Swingline Loan if any Credit Party shall have notified the Swingline Lender and the Revolving Credit Borrowers in writing at least one (1) Business Day prior to the Borrowing Date with respect to such Swingline Loan, that the conditions set forth in Section 4.02 have not been satisfied and such conditions remain unsatisfied as of the requested time of the making such Swingline Loan. Each Swingline Loan shall be due and payable in full on the earlier of (a) the Swingline Termination Date, or (b) such earlier maturity date as may be agreed to by the Swingline Lender and the Revolving Credit Borrowers. Swingline Loans may only be Adjusted Base Rate Borrowings and may not be SOFR Borrowings.
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Swingline Loan Subfacility. (a) SWINGLINE COMMITMENT. Subject to the terms and conditions of this Section 2.18, the Swingline Lender, in its individual capacity, agrees to make certain revolving credit loans to the Borrower (each a "SWINGLINE LOAN" and, collectively, the "SWINGLINE LOANS") from time to time during the term hereof; PROVIDED, HOWEVER, that the aggregate amount of Swingline Loans outstanding at any time shall not exceed the lesser of (i) SEVENTY-FIVE MILLION DOLLARS ($75,000,000), and (ii) the aggregate Commitments less all Loans then outstanding and Letter of Credit Usage (the "SWINGLINE COMMITMENT"). Subject to the limitations set forth herein, any amounts repaid in respect of Swingline Loans may be reborrowed.
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Swingline Loan Subfacility. 39 2.5 Foreign Currency Loan Subfacility ............................... 42 2.6 Foreign Letter of Credit Subfacility ............................ 43
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Swingline Loan Subfacility. (a) Subject to and upon the terms and conditions contained herein, the Swingline Lender, in its individual capacity, agrees to make prior to the Termination Date certain revolving credit loans to (i) the U.S. Borrowers, in Dollars, and (ii) the Dutch Borrower, in Euros or Dollars (each a “Swingline Loan” and, collectively, the “Swingline Loans”) for the purposes hereinafter set forth; provided, however, (i) the aggregate principal Dollar Amount of Swingline Loans outstanding at any time shall not exceed the Swingline Committed Amount, (ii) the aggregate Dollar Amount of the Loans (including Swingline Loans) and the Letter of Credit Obligations outstanding at any time shall not exceed the Maximum Credit, (iii) the aggregate principal amount of the Loans (including Swingline Loans) and Letter of Credit Obligations outstanding at any time shall not exceed the U.S. Borrowing Base, and (iv) the aggregate principal Dollar Amount of the Loans (including Swingline Loans) made to the Dutch Borrower shall not exceed the Dutch Revolving Loan Limit. Swingline Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
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Swingline Loan Subfacility. [Reserved]>.
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Swingline Loan Subfacility. (A) Subject to the terms and conditions hereof and in reliance upon the representations and warranties herein set forth, the Swingline Bank, in its individual capacity, agrees to make certain revolving credit loans requested by the Borrower to the Borrower (each a "Swingline Loan" and, collectively, the "Swingline Loans") from time to time from the Amendment and Restatement Closing Date until the Termination Date for the purposes hereinafter set forth; provided, however, (i) the aggregate principal amount of Swingline Loans outstanding at any time shall not exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00) (the "Swingline Committed Amount"), and (ii) the aggregate principal amount of outstanding Revolving Loans plus the aggregate Letter of Credit Liabilities plus the aggregate principal amount of outstanding Swingline Loans shall not exceed the Total Commitments.
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Swingline Loan Subfacility. Section 2.18(a) is hereby deleted and the following substituted therefor:
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Swingline Loan Subfacility. Term Loan SECTION 3 OTHER PROVISIONS RELATING TO CREDIT FACILITIES 3.1 Default Rate. 3.2
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Swingline Loan Subfacility 
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Related to Swingline Loan Subfacility

  • Swingline Loans (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans in Dollars to the Applicable Borrower from time to time during the Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $25,000,000 or (ii) the Dollar Amount of the total Revolving Credit Exposures exceeding the aggregate Revolving Commitments; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Applicable Borrower may borrow, prepay and reborrow Swingline Loans. (b) To request a Swingline Loan, the Applicable Borrower shall notify the Administrative Agent of such request by telephone (confirmed by telecopy), not later than 2:00 p.m., New York City time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received from the Applicable Borrower. The Swingline Lender shall make each Swingline Loan available to the Applicable Borrower by means of a credit to the general deposit account of such Applicable Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e), by remittance to the applicable Issuing Banks) by 2:00 p.m., New York City time, on the requested date of such Swingline Loan. (c) The Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., New York City time, on any Business Day require the Revolving Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such Lender’s Revolving Percentage of such Swingline Loan or Loans. Each Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Revolving Lender’s Revolving Percentage (after giving effect to the reallocation provisions of paragraph (d) below) of such Swingline Loan or Loans. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph in an amount equal to its Revolving Percentage thereof is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Revolving Lenders. The Administrative Agent shall notify the Applicable Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from an Applicable Borrower (or other party on behalf of such Applicable Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the applicable Revolving Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Applicable Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Applicable Borrower of any default in the payment thereof.