The Domestic Swing Line Loans Sample Clauses

The Domestic Swing Line Loans. Subject to the terms and conditions hereinafter set forth, upon notice by Ryder to the Domestic Swing Line Lenders in accordance with this §2.12, each of the Domestic Swing Line Lenders severally (and not jointly) agrees to make loans directly to Ryder (the “Domestic Swing Line Loans”) in Dollars in an amount equal to its Domestic Swing Line Commitment Percentage of such Domestic Swing Line Loans on any Business Day during the Availability Period; provided that (i) the aggregate Outstanding Amount of Domestic Swing Line Loans shall not, at any time and after giving effect to all amounts requested, exceed the Total Domestic Swing Line Commitment, and (ii) the Outstanding Amount of the Domestic Swing Line Loans owed to a Domestic Swing Line Lender shall not, at any time and after giving effect to all amounts requested, exceed such Domestic Swing Line Lender’s Domestic Swing Line Commitment. Each Domestic Swing Line Loan shall be in a minimum amount equal to $1,000,000 or an integral multiple thereof. Notwithstanding any other provisions of this Agreement and in addition to the limit set forth above, at no time shall the aggregate Outstanding Amount of all Domestic Swing Line Loans exceed the remainder of (A) the Total Domestic Commitment then in effect minus (B) the sum of (1) the Outstanding Amount of all Domestic Loans at such time, plus (2) the Outstanding Amount of L/C Obligations at such time; provided, that Ryder shall not use the proceeds of any Domestic Swing Line Loan to refinance any outstanding Domestic Swing Line Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, Ryder may borrow under this §2.12, prepay or repay under §2.11, and reborrow under this §2.12. Each Domestic Swing Line Loan shall be a Base Rate Loan. Immediately upon the making of a Domestic Swing Line Loan, each Domestic Bank shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from each Domestic Swing Line Lender a risk participation in such Domestic Swing Line Loan made by such Domestic Swing Line Lender in an amount equal to the product of such Domestic Bank’s Domestic Commitment Percentage times the amount of such Domestic Swing Line Loan made by such Domestic Swing Line Lender. Notwithstanding the foregoing, neither of the Domestic Swing Line Lenders shall be under any obligation to advance any Domestic Swing Line Loan if any Bank is at such time a Defaulting Bank unless Cash Collateral is provided to the Domest...
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The Domestic Swing Line Loans. Subject to all of the terms and conditions hereof, the Bank then acting as Administrative Agent (the "Domestic Swing Line Bank") agrees to make loans in U.S. Dollars to each and any Borrower ("Domestic Swing Line Loans") which shall not in the aggregate (for all the Borrowers taken together) at any time outstanding exceed the lesser of (i) the Domestic Swing Line Commitment or (ii) the difference between (x) the Revolving Credit Commitments in effect at such time and (y) the aggregate Original Dollar Amount of all Loans (whether Committed Loans or Swing Line Loans) and L/C Obligations then outstanding. The Domestic Swing Line Commitment shall be available to each and any Borrower and may be availed of by each Borrower from time to time and Borrowings thereunder may be repaid and used again during the period ending on the Revolving Credit Termination Date. Without regard to the face principal amount of the Domestic Swing Line Note issued by a given Borrower, the actual principal amount at any time outstanding and owing by such Borrower on account of such Domestic Swing Line Note on any date during the period ending on the Revolving Credit Termination Date shall be the sum of all Domestic Swing Line Loans then or theretofore made thereon through such date less all payments actually received thereon through such date.
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The Domestic Swing Line Loans. (a) Subject to the terms and conditions hereinafter set forth, upon notice by the Borrower made to the Domestic Swing Line Bank in accordance with ss.2.12(b) hereof, the Domestic Swing Line Bank agrees to lend to the Borrower Domestic Swing Line Loans on any Business Day from the Effective Date until the Maturity Date in an aggregate principal amount not to exceed $10,000,000 (the "Maximum Domestic Swing Line Loan Amount"). Each Domestic Swing Line Loan shall be in a minimum amount equal to $1,000 or an integral multiple thereof. Notwithstanding any other provisions of this Agreement and in addition to the limit set forth above, at no time shall the aggregate principal amount of all outstanding Domestic Swing Line Loans plus the Dollar Equivalent of the aggregate principal amount of all Canadian Swing Line Loans outstanding exceed the Total Domestic Commitment then in effect minus the sum of (i) the aggregate principal amount of all Domestic Revolving Credit Loans outstanding and (ii) the aggregate Maximum Drawing Amount of all Letters of Credit outstanding; provided however that subject to the limitations set forth in this ss.2.12(a) from time to time the sum of the aggregate outstanding Domestic Swing Line Loans plus all outstanding Revolving Credit Loans made by BKB plus the Maximum Drawing Amount of all Letters of Credit issued by BKB as Letter of Credit Issuing Bank may exceed BKB's Commitment Percentage of the Total Domestic Commitment then in effect.
Sample 1
The Domestic Swing Line Loans. 12 Section 3.1. The Domestic Swing Line Loans.........................................................12 Section 3.2. Interest on Domestic Swing Line Loans.................................................12 Section 3.3. Requests for Domestic Swing Line Loans................................................13 Section 3.4. Refunding Domestic Swing Line Loans...................................................13 Section 3.5. Participations........................................................................14 Section 3.6. Indemnification.......................................................................14
Sample 1
The Domestic Swing Line Loans. Subject to the terms and conditions hereinafter set forth, upon notice by Ryder to the Administrative Agent in accordance with this Section 2.12, the Administrative Agent agrees to make loans to Ryder (the "Domestic Swing Line Loans") on any Business Day prior to the Maturity Date in an aggregate principal amount not to exceed $25,000,000 at any one time outstanding. Each Domestic Swing Line Loan shall be in a minimum amount equal to $1,000,000 or an integral multiple thereof. Notwithstanding any other provisions of this Agreement and in addition to the limit set forth above, at no time shall the aggregate principal amount of all outstanding Domestic Swing Line Loans exceed the remainder of (i) the Total Domestic Commitment then in effect minus (ii) the sum of (A) the aggregate principal amount of all Domestic Loans outstanding, plus (B) the outstanding L/C Obligations with respect to Letters of Credit issued for the account of Ryder and its domestic Subsidiaries.
Sample 1

Related to The Domestic Swing Line Loans

  • Swing Line Loans The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date ten Business Days after such Loan is made and (ii) the Maturity Date for the Revolving Credit Facility.

  • Refinancing of Swing Line Loans (i) The Swing Line Lender at any time in its sole discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan in an amount equal to such Lender’s Applicable Revolving Credit Percentage of the amount of Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Credit Facility and the conditions set forth in Section 4.02. The Swing Line Lender shall furnish the Borrower with a copy of the applicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Applicable Revolving Credit Percentage of the amount specified in such Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender.

  • Refunding of Swing Line Loans (a) Either the Swing Line Agent or the Administrative Agent, at any time in its sole and absolute discretion may, and on the seventh day (or if such day is not a Business Day, the next Business Day following the seventh day) after the Borrowing Date with respect to any Swing Line Loans to a Borrower shall, on behalf of such Borrower (and each Borrower hereby irrevocably directs the Swing Line Agent and Administrative Agent to so act on its behalf and with respect to such Borrower), upon notice given by the Swing Line Agent to the Administrative Agent, or by the Administrative Agent, no later than 10:00 A.M., New York City time, on the relevant refunding date, request each Lender to make, and, subject to Section 2.2(b), each Lender hereby agrees to make, a Revolving Credit Loan to such Borrower, at the rate applicable to the Swing Line Loans of such Borrower, in an amount equal to such Lender’s Commitment Percentage of the amount of such Swing Line Loans of such Borrower (the “Refunded Swing Line Loans”) outstanding on the date of such notice, to repay the Swing Line Lenders. Each Lender shall make the amount of such Revolving Credit Loan available to the Administrative Agent at its office set forth in Section 9.2 in immediately available funds, no later than 1:00 P.M., New York City time, on the date of such notice. The proceeds of such Revolving Credit Loans shall be distributed by the Administrative Agent to the Swing Line Lenders and immediately applied by the Swing Line Lenders to repay the Refunded Swing Line Loans. Effective on the day such Revolving Credit Loans are made, the portion of the Swing Line Loans so paid shall no longer be outstanding as Swing Line Loans. Notwithstanding any provision hereof to the contrary, if prior to the seventh day (or if such day is not a Business Day, the next Business Day following such seventh day) after the Borrowing Date with respect to any Swing Line Loan, any Swing Line Lender lending such Swing Line Loan requests the refunding of such Swing Line Loan as described in the first sentence above, the Administrative Agent shall effect the refunding of all outstanding Swing Line Loan as described above.

  • New Swing Line Loans/Letters of Credit Notwithstanding anything in this Agreement to the contrary, so long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no L/C Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Making of Swing Line Loans Promptly after receipt of a Swing Line Borrowing Notice, the Agent shall notify each Lender by fax or other similar form of transmission, of the requested Swing Line Loan. Not later than 4:00 p.m. (Chicago time) on the applicable Borrowing Date, the Swing Line Lender shall make available the Swing Line Loan, in funds immediately available in Chicago, to the Agent at its address specified pursuant to Article XIII. The Agent will promptly make the funds so received from the Swing Line Lender available to the Borrower on the Borrowing Date at the Agent’s aforesaid address in an account maintained and designated by the Borrower.

  • Repayment of Swing Line Loans The Borrower shall pay each Swing Line Loan in full on the date selected by the Administrative Agent. In addition, the Swing Line Lender may at any time in its sole discretion with respect to any outstanding Swing Line Loan require each Lender to fund the participation acquired by such Lender pursuant to Section 2.21(c) or require each Lender (including the Swing Line Lender) to make a Revolving Loan in the amount of such Lender’s Revolving Percentage of such Swing Line Loan (including, without limitation, any interest accrued and unpaid thereon) for the purpose of repaying such Swing Line Loan. Not later than noon (Minneapolis time) on the date of any notice received pursuant to this Section, each Lender shall make available its required Revolving Loan, in funds immediately available to the Administrative Agent at its address specified pursuant to Article XIII. Revolving Loans made pursuant to this Section shall initially be Base Rate Loans and thereafter may be continued as Base Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.7 and subject to the other conditions and limitations set forth in this Article II. Unless a Lender notifies the Swing Line Lender, prior to its making any Swing Line Loan, that any applicable condition precedent set forth in Section 4.1 or 4.2 has not been satisfied, such Lender’s obligation to make Revolving Loans pursuant to this Section to repay Swing Line Loans or to fund the participation acquired pursuant to Section 2.21(c) shall be unconditional, continuing, irrevocable and absolute and shall not be affected by any circumstances, including, without limitation, (a) any set-off, counterclaim, recoupment, defense or other right that such Lender may have against the Borrower, the Administrative Agent, the Swing Line Lender or any other Person, (b) the occurrence or continuance of a Default or Event of Default, (c) any adverse change in the condition (financial or otherwise) of the Borrower, or (d) any other circumstances, happening or event whatsoever. In the event that any Lender fails to make payment to the Administrative Agent of any amount due under this Section, interest shall accrue thereon at the Federal Funds Effective Rate for each day during the period commencing on the date of demand and ending on the date such amount is received, and the Administrative Agent shall be entitled to receive, retain and apply against such obligation the principal and interest otherwise payable to such Lender hereunder until the Administrative Agent receives such payment from such Lender or such obligation is otherwise fully satisfied. On the Facility Termination Date, the Borrower shall repay in full the outstanding principal balance of the Swing Line Loans.

  • Swing Line Advances The Borrower shall repay to the Administrative Agent for the account of the Swing Line Bank and each other Revolving Credit Lender that has made a Swing Line Advance the outstanding principal amount of each Swing Line Advance made by each of them on the earlier of the maturity date specified in the applicable Notice of Swing Line Borrowing (which maturity shall be no later than the seventh day after the requested date of such Borrowing) and the Termination Date.

  • Swing Line Loans Commitments During the Revolving Commitment Period, subject to the terms and conditions hereof, Swing Line Lender shall make Swing Line Loans in Dollars to Borrower in the aggregate amount up to but not exceeding the Swing Line Sublimit; provided, that after giving effect to the making of any Swing Line Loan, in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Amounts borrowed pursuant to this Section 2.3 may be repaid and reborrowed during the Revolving Commitment Period. Swing Line Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all Swing Line Loans and all other amounts owed hereunder with respect to the Swing Line Loans and the Revolving Commitments shall be paid in full no later than such date.

  • Procedure for Swing Line Borrowing; Refunding of Swing Line Loans (a) The Borrower may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period, provided, the Borrower shall give the Swing Line Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swing Line Lender not later than 1:00 P.M., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrower on such Borrowing Date in like funds as received by the Administrative Agent.

  • Amount of Swing Line Loans Upon the satisfaction of the conditions precedent set forth in Section 4.2 and, if such Swing Line Loan is to be made on the date of the initial Credit Extension hereunder, the satisfaction of the conditions precedent set forth in Section 4.1 as well, from and including the Restatement Effective Date and prior to the Facility Termination Date, the Swing Line Lender agrees, on the terms and conditions set forth in this Agreement, to make Swing Line Loans in Dollars to the Borrower from time to time in an aggregate principal amount not to exceed the Swing Line Commitment, provided that (i) the Aggregate Outstanding Credit Exposure shall not at any time exceed the Aggregate Commitment and (ii) at no time shall the sum of (a) the Swing Line Loans then outstanding, plus (b) the outstanding Revolving Loans made by the Swing Line Lender pursuant to Section 2.1 (including its participation in any Facility LCs), exceed the Swing Line Lender’s Commitment at such time. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Swing Line Loans at any time prior to the Facility Termination Date.

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