Common use of The Canadian Swing Line Note Clause in Contracts

The Canadian Swing Line Note. The obligation of the Canadian Borrowers to repay the Canadian Swing Line Loans made pursuant to this Agreement and to pay interest thereon as set forth in this Agreement may be evidenced by a promissory note of the Canadian Borrowers with appropriate insertions substantially in the form of Exhibit A-7 attached hereto (the “Canadian Swing Line Note”), dated the Closing Date and payable to the order of the Canadian Swing Line Lender in a principal amount stated to be the lesser of (i) $50,000,000, or (ii) the aggregate principal amount of Canadian Swing Line Loans at any time advanced by the Canadian Swing Line Lender and outstanding thereunder. Upon the request of the Canadian Swing Line Lender to the Canadian Borrowers, the Canadian Borrowers shall execute and deliver to the Canadian Swing Line Lender a Canadian Swing Line Note. The Canadian Borrowers irrevocably authorize the Canadian Swing Line Lender to make or cause to be made, at or about the time of the Drawdown Date of any Canadian Swing Line Loan or at the time of receipt of any payment of principal on the Canadian Swing Line Note, an appropriate notation on the grid attached to such Note or the Canadian Agent’s records reflecting the making of such Canadian Swing Line Loan or (as the case may be) the receipt of such payment. The Outstanding Amount of the Canadian Swing Line Loans set forth on such grid or such records shall be prima facie evidence of the principal amount thereof owing and unpaid to the Canadian Agent, but the failure to record, or any error in so recording, any such amount on such Note or such records shall not limit or otherwise affect the actual amount of the obligations of the Canadian Borrowers hereunder or under the Canadian Swing Line Note to make payments of principal of or interest on the Canadian Swing Line Note when due.

Appears in 2 contracts

Samples: Global Revolving Credit Agreement (Ryder System Inc), Global Revolving Credit Agreement (Ryder System Inc)

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The Canadian Swing Line Note. The obligation of the Canadian Borrowers to repay the Canadian Swing Line Loans made pursuant to this Agreement and to pay interest thereon as set forth in this Agreement may be evidenced by a promissory note of the Canadian Borrowers with appropriate insertions substantially in the form of Exhibit A-7 attached hereto (the “Canadian Swing Line Note”), dated the Closing Date and payable to the order of the Canadian Swing Line Lender in a principal amount stated to be the lesser of (i) $50,000,000, or (ii) the aggregate principal amount of Canadian Swing Line Loans at any time advanced by the Canadian Swing Line Lender and outstanding thereunder. Upon the request of the Canadian Swing Line Lender to the Canadian Borrowers, the Canadian Borrowers shall execute and deliver to the Canadian Swing Line Lender a Canadian Swing Line Note. The Canadian Borrowers irrevocably authorize the Canadian Swing Line Lender to make or cause to be made, at or about the time of the Drawdown Date of any Canadian Swing Line Loan or at the time of receipt of any payment of principal on the Canadian Swing Line Note, an appropriate notation on the grid attached to such Note or the Canadian Agent’s records reflecting the making of such Canadian Swing Line Loan or (as the case may be) the receipt of such payment. The Outstanding Amount of the Canadian Swing Line Loans set forth on such grid or such records shall be prima facie evidence of the principal amount thereof owing and unpaid to the Canadian Agent, but the failure to record, or any error in so recording, any such amount on such Note or such records shall not limit or otherwise affect the actual amount of the obligations of the Canadian Borrowers hereunder or under the Canadian Swing Line Note to make payments of principal of or interest on the Canadian Swing Line Note when due.

Appears in 2 contracts

Samples: Global Revolving Credit Agreement (Ryder System Inc), Global Revolving Credit Agreement (Ryder System Inc)

The Canadian Swing Line Note. The obligation of the Canadian Borrowers Borrower to repay the Canadian Swing Line Loans made pursuant to this Agreement and to pay interest thereon as set forth in this Agreement may shall be evidenced by a promissory note of the Canadian Borrowers Borrower with appropriate insertions substantially in the form of Exhibit A-7 A-4 attached hereto (the "Canadian Swing Line Note"), dated the Closing Date and payable to the order of the Canadian Swing Line Lender Bank in a principal amount stated to be the lesser of (i) $50,000,000the Maximum Canadian Swing Line Loan Amount, or (ii) the aggregate principal amount of Canadian Swing Line Loans at any time advanced by the Canadian Swing Line Lender Bank and outstanding thereunder. Upon the request of The Canadian Borrower irrevocably authorizes the Canadian Swing Line Lender to the Canadian Borrowers, the Canadian Borrowers shall execute and deliver to the Canadian Swing Line Lender a Canadian Swing Line Note. The Canadian Borrowers irrevocably authorize the Canadian Swing Line Lender Bank to make or cause to be made, at or about the time of the Drawdown Date of any Canadian Swing Line Loan or at the time of receipt of any payment of principal on the Canadian Swing Line Note, an appropriate notation on the grid attached to such Note or the Canadian Agent’s records Record reflecting the making of such Canadian Swing Line Loan or (as the case may be) the receipt of such payment. The Outstanding Amount outstanding amount of the Canadian Swing Line Loans set forth on such grid or such records Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to the Canadian AgentSwing Line Bank, but the failure to record, or any error in so recording, any such amount on such Note or such records Record shall not limit or otherwise affect the actual amount of the obligations of the Canadian Borrowers Borrower hereunder or under the Canadian Swing Line Note to make payments of principal of or interest on the Canadian Swing Line Note when due.

Appears in 1 contract

Samples: Revolving Credit Agreement (Allied Holdings Inc)

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The Canadian Swing Line Note. The obligation of the Canadian Borrowers Borrower to repay the Canadian Swing Line Loans made pursuant to this Agreement and to pay interest thereon as set forth in this Agreement may shall be evidenced by a promissory note of the Canadian Borrowers Borrower with appropriate insertions substantially in the form of Exhibit A-7 A-4 attached hereto (the "Canadian Swing Line Note"), dated the Original Closing Date and payable to the order of the Canadian Swing Line Lender Bank in a principal amount stated to be the lesser of (i) $50,000,000the Maximum Canadian Swing Line Loan Amount, or (ii) the aggregate principal amount of Canadian Swing Line Loans at any time advanced by the Canadian Swing Line Lender Bank and outstanding thereunder. Upon the request of The Borrower agrees that the Canadian Swing Line Lender to Note issued under the Canadian BorrowersExisting Credit Agreement shall, from and after the Canadian Borrowers shall execute and deliver to Effective Date, evidence the Canadian Swing Line Lender a Canadian Swing Line NoteLoans hereunder. The Canadian Borrowers Borrower irrevocably authorize authorizes the Canadian Swing Line Lender Bank to make or cause to be made, at or about the time of the Drawdown Date of any Canadian Swing Line Loan or at the time of receipt of any payment of principal on the Canadian Swing Line Note, an appropriate notation on the grid attached to such Note or the Canadian Agent’s records Record reflecting the making of such Canadian Swing Line Loan or (as the case may be) the receipt of such payment. The Outstanding Amount outstanding amount of the Canadian Swing Line Loans set forth on such grid or such records Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to the Canadian AgentSwing Line Bank, but the failure to record, or any error in so recording, any such amount on such Note or such records Record shall not limit or otherwise affect the actual amount of the obligations of the Canadian Borrowers Borrower hereunder or under the Canadian Swing Line Note to make payments of principal of or interest on the Canadian Swing Line Note when due.. 52 -45-

Appears in 1 contract

Samples: Revolving Credit Agreement (Allied Holdings Inc)

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