Common use of Swingline Loans; Settlement Clause in Contracts

Swingline Loans; Settlement. (a) To fulfill any request for a Base Rate Loan hereunder, Bank of America may in its discretion advance Swingline Loans to Borrowers, up to an aggregate outstanding amount of $15,000,000. Swingline Loans shall constitute Loans for all purposes, except that payments thereon shall be made to Bank of America for its own account until Lenders have funded their participations therein as provided below. (b) Settlement of Loans, including Swingline Loans, among Lenders, Bank of America and Administrative Agent shall take place on a date determined from time to time by Administrative Agent (but at least weekly, unless the settlement amount is de minimis), on a Pro Rata basis in accordance with the Settlement Report delivered by Administrative Agent to Lenders. Between settlement dates, Administrative Agent may in its discretion apply payments on Loans to Swingline Loans, regardless of any designation by Borrowers or any provision herein to the contrary. Each Lender hereby purchases, without recourse or warranty, an undivided Pro Rata participation in all Swingline Loans outstanding from time to time until settled. If a Swingline Loan cannot be settled among Lenders, whether due to an Obligor’s Insolvency Proceeding or for any other reason, each Lender shall pay the amount of its participation in the Loan to Administrative Agent, in immediately available funds, within one Business Day after Administrative Agent’s request therefor. Lenders’ obligations to make settlements and to fund participations are absolute, irrevocable and unconditional, without offset, counterclaim or other defense, and whether or not the Commitments have terminated, an Overadvance exists or the conditions in Section 6 are satisfied.

Swingline Loans; Settlement. (a) To fulfill any request for a Base Rate Loan hereunder, Bank of America Agent may in its discretion advance Swingline Loans to Borrowers, up to an aggregate outstanding amount of $15,000,0005,000,000. Swingline Loans shall constitute Loans for all purposes, except that payments thereon shall be made to Bank of America Agent for its own account until settled with or funded by Lenders have funded their participations therein as provided belowhereunder. (b) Settlement of Loans, including Swingline Loans, among Lenders, Bank of America Lenders and Administrative Agent shall take place on a date determined from time to time by Administrative Agent (but at least weekly, unless the settlement amount is de minimis), on a Pro Rata basis in accordance with the Settlement Report delivered by Administrative Agent to Lenders. Between settlement dates, Administrative Agent may in its discretion apply payments on Loans to Swingline Loans, regardless of any designation by Borrowers or any provision anything herein to the contrary. Each Lender hereby purchases, without recourse or warranty, an undivided Pro Rata participation in all Swingline Loans outstanding from time to time until settled. If a Swingline Loan cannot be settled among Lenders, whether due to an Obligor’s Insolvency Proceeding or for any other reason, each Lender shall pay the amount of its participation in the Loan to Administrative Agent, in immediately available funds, within one Business Day after Administrative Agent’s request therefor. Lenders’ obligations to make settlements and to fund participations are absolute, 133315237_8 irrevocable and unconditional, without offset, counterclaim or other defense, and whether or not the Commitments have terminated, an Overadvance exists or the conditions in Section 6 are satisfied.

Swingline Loans; Settlement. (a) To fulfill any request for a Base Rate Revolver Loan hereunder, Bank at the request of America may in its discretion Borrower Agent, Agent shall advance Swingline Loans to Borrowers, up to an aggregate outstanding amount of $15,000,00025,000,000. Swingline Loans shall constitute Revolver Loans for all purposes, except that payments thereon shall be made to Bank of America Agent for its own account until Lenders have funded their participations therein as provided below. (b) Settlement of Loans, including Swingline Loans, among Lenders, Bank of America Lenders and Administrative Agent shall take place on a date determined from time to time by Administrative Agent (but at least weekly, unless the settlement amount is de minimis), on a Pro Rata basis in accordance with the Settlement Report delivered by Administrative Agent to Lenders. Between settlement dates, Administrative Agent may in its discretion apply payments on Revolver Loans to Swingline Loans, regardless of any designation by Borrowers or any provision herein to the contrary. Each Lender hereby purchases, without recourse or warranty, an undivided Pro Rata participation in all Swingline Loans outstanding from time to time until settled. If a Swingline Loan cannot be settled among Lenders, whether due to an Obligor’s Insolvency Proceeding or for any other reason, each Lender shall pay the amount of its participation in the Loan to Administrative Agent, in immediately available funds, within one Business Day after Administrative Agent’s request therefor. Lenders’ obligations to make settlements and to fund participations are absolute, irrevocable and unconditional, without offset, counterclaim or other defense, and whether or not the Commitments have terminated, an Overadvance exists or the conditions in Section 6 are satisfied.