Common use of The Swing Line Advances Clause in Contracts

The Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 (the “Swing Line Facility”) and (ii) in an amount for each such Swing Line Borrowing not to exceed the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of the Swing Line Bank shall be contingent on no Revolving Credit Lender being a Delinquent Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition). No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Rate Advance. Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) above, the Borrower may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c).

Appears in 2 contracts

Samples: Credit Agreement (American Campus Communities Operating Partnership LP), Credit Agreement (American Campus Communities Inc)

AutoNDA by SimpleDocs

The Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 (the “Swing Line Facility”) and (ii) in an amount for each such Swing Line Borrowing not to exceed the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of the Swing Line Bank shall be contingent on no Revolving Credit Lender being a Delinquent Defaulting Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition). No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Rate Advance. Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) above, the Borrower may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c).

Appears in 1 contract

Samples: Credit Agreement (American Campus Communities Operating Partnership LP)

The Swing Line Advances. The Borrower Paxar may request the Swing Line Bank to make, and the Swing Line Bank agrees to shall make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower Paxar from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 5,000,000 (the "Swing Line Facility") and (ii) in an amount for each such Swing Line Borrowing not to exceed the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of the Swing Line Bank shall be contingent on no Revolving Credit Lender being a Delinquent Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition). No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Prime Rate AdvanceAdvance or shall bear interest at such other interest rate, if any, as may be agreed upon by Paxar and the Swing Line Bank. Any "Swing Line Advances" outstanding on the Effective Date under the Existing Credit Agreement shall be Swing Line Advances for all purposes hereunder and under the other Loan Documents. Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) above, the Borrower Paxar may borrow under this Section 2.01(c2.01(b), repay pursuant to Section 2.04(b2.07(c) or prepay pursuant to Section 2.06(a) 2.11 and reborrow under this Section 2.01(c2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Paxar Corp)

The Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to shall, so long as no Default or Event of Default shall have occurred and be continuing, make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower from time to time on any Business Day during prior to the period from the date hereof until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 10,000,000 (the “Swing Line Facility”"SWING LINE FACILITY") and (ii) in an amount for each such Swing Line Borrowing not to exceed an amount equal to (x) the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of time minus (y) the aggregate Swing Line Bank Advances outstanding at such time. Each Swing Line Advance shall be contingent on no Revolving Credit Lender being a Delinquent Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition)integral multiples of $100,000. No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Rate Advancebear interest at the rate established pursuant to the Fee Letter (the "SWING LINE RATE"). Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) abovethis Section 2.01(c), the Borrower may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c)) and may repay or prepay the Swing Line Advances at such times prior to the Termination Date, and in such integral multiples, as the Borrower may elect.

Appears in 1 contract

Samples: Credit Agreement (Applied Graphics Technologies Inc)

The Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to shall, so long as no Default or Event of Default shall have occurred and be continuing, make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower from time to time on any Business Day during the period from the date hereof Initial Funding Date until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 5,000,000 (the “Swing Line Facility”"SWING LINE FACILITY") and (ii) in an amount for each such Swing Line Borrowing not to exceed an amount equal to (x) the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of time minus (y) the aggregate Swing Line Bank Advances outstanding at such time. Each Swing Line Advance shall be contingent on no Revolving Credit Lender being a Delinquent Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition)integral multiples of $100,000. No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Rate Advancebear interest at the rate established pursuant to the Fee Letter (the "SWING LINE RATE"). Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) abovethis Section 2.01(c), the Borrower may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c)) and may repay or prepay the Swing Line Advances at such times prior to the Revolving Credit Termination Date, and in such integral multiples, as the Borrower may elect.

Appears in 1 contract

Samples: Credit Agreement (Applied Graphics Technologies Inc)

The Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 15,000,000 (the “Swing Line Facility”) and (ii) in an amount for each such Swing Line Borrowing not to exceed the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of the Swing Line Bank shall be contingent on no Revolving Credit Lender being a Delinquent Lender or such Lender, or its parent holding company, being subject to (1) any bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or (2) any “cease and desist” order from, receivership of, or other operational control of any applicable state or federal regulatory authority (provided that the Swing Line Issuing Bank may, in its sole discretion, be entitled to waive this condition). No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Rate Advance. Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) above, the Borrower may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c).

Appears in 1 contract

Samples: Credit Agreement (American Campus Communities Inc)

AutoNDA by SimpleDocs

The Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to shall, so long as no Default or Event of Default shall have occurred and be continuing, make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower from time to time on any Business Day during the period from the date hereof Initial Funding Date until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 10,000,000 (the “Swing Line Facility”"SWING LINE FACILITY") and (ii) in an amount for each such Swing Line Borrowing not to exceed an amount equal to (x) the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of time minus (y) the aggregate Swing Line Bank Advances outstanding at such time. Each Swing Line Advance shall be contingent on no Revolving Credit Lender being a Delinquent Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition)integral multiples of $100,000. No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Rate Advancebear interest at the rate established pursuant to the Fee Letter (the "SWING LINE RATE"). 7 Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) abovethis Section 2.01(c), the Borrower may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c)) and may repay or prepay the Swing Line Advances at such times prior to the Revolving Credit Termination Date, and in such integral multiples, as the Borrower may elect."

Appears in 1 contract

Samples: Credit Agreement (Applied Graphics Technologies Inc)

The Swing Line Advances. The Borrower Paxar may request the Swing Line Bank to make, and the Swing Line Bank agrees to shall make, on the terms and conditions hereinafter set forth, Swing Line Advances to the Borrower Paxar from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 10,000,000 (the "Swing Line Facility") and (ii) in an amount for each such Swing Line Borrowing not to exceed the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time, provided that such obligation of the Swing Line Bank shall be contingent on no Revolving Credit Lender being a Delinquent Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition). No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Prime Rate AdvanceAdvance or shall bear interest at such other interest rate, if any, as may be agreed upon by Paxar and the Swing Line Bank. Any "Swing Line Advances" outstanding on the Effective Date under the Existing Credit Agreement shall be Swing Line Advances for all purposes hereunder and under the other Loan Documents. Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) above, the Borrower Paxar may borrow under this Section 2.01(c2.01(b), repay pursuant to Section 2.04(b2.07(c) or prepay pursuant to Section 2.06(a) 2.11 and reborrow under this Section 2.01(c2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Paxar Corp)

The Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, to make Swing Line Advances to the Borrower Company from time to time on any Business Day during the period from the date hereof Effective Date until the Revolving Credit Termination Date (i) in an aggregate amount not to exceed at any time outstanding $35,000,000 (the Swing Line Facility”) Facility at such time and (ii) in an amount for each such Swing Line Borrowing not to exceed the aggregate of the Unused Revolving Credit A Commitments of the Revolving Credit A Lenders at such time, provided that such obligation of the Swing Line Bank shall be contingent on no Revolving Credit Lender being a Delinquent Lender (provided that the Swing Line Bank may, in its sole discretion, be entitled to waive this condition). No Swing Line Advance shall be used for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing Line Borrowing shall be in an amount of $100,000 1,000,000 or an integral multiple of $100,000 in excess thereof and shall be made as a Base Rate Advance. Within the limits of the Swing Line Facility and within the limits referred to in clause (ii) above, the Borrower Company may borrow under this Section 2.01(c), repay pursuant to Section 2.04(b2.04(c) or prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(c). Immediately upon the making of a Swing Line Advance, each Revolving Credit A Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Bank a risk participation in such Swing Line Advance in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such Swing Line Advance.

Appears in 1 contract

Samples: Credit Agreement (Metrologic Instruments Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!