Common use of The Swing Line Loans Clause in Contracts

The Swing Line Loans. Subject to the terms and conditions hereinafter set forth, including without limitation, §12 hereof, upon notice from the Borrower to the Administrative Agent in accordance with §2.9.2 herein, the Administrative Agent agrees to make Swing Line Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Maturity Date in an aggregate amount not to exceed at any time outstanding $10,000,000 (the “Swing Line Facility”), provided, however, that while the outstanding amount of all outstanding Swing Line Loans and outstanding Revolving Credit Loans made by a Lender may exceed such Lender’s Commitment, the aggregate amount of all Swing Line Loans outstanding shall not exceed the lesser of (a) the Total Commitment and (b) the Borrowing Base, less the sum of all Revolving Credit Loans outstanding and the Maximum Drawing Amount and all Unpaid Reimbursement Obligations. No Swing Line Loan shall be used for the purpose of funding the payment of principal of any other Swing Line Loan. Each Swing Line Borrowing shall be in an amount of $500,000 or an integral multiple of $100,000 in excess thereof. Swing Line Loans must be Base Rate Loans only, and may not be LIBOR Rate Loans and, prior to a Settlement, interest on such Swing Line Loans shall be for the account of the Administrative Agent. For purposes of §3 through §16 of this Credit Agreement, unless otherwise specified, the term “Revolving Credit Loans” shall be deemed to include “Swing Line Loans”.

The Swing Line Loans. Subject to the terms and conditions hereinafter set forth, including without limitation, §12 hereof, upon notice from the Borrower to the Administrative Agent in accordance with §2.9.2 herein, the Administrative Agent agrees to make Swing Line Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Maturity Date in an aggregate amount not to exceed at any time outstanding $10,000,000 (the “Swing Line Facility”), provided, however, that while the outstanding amount of all outstanding Swing Line Loans and outstanding Revolving Credit Loans made by a Lender may exceed such Lender’s Commitment, the aggregate amount of all Swing Line Loans outstanding shall not exceed the lesser of (a) the Total Commitment and (b) the Borrowing Base, less the sum of all Revolving Credit Loans outstanding and the Maximum Drawing Amount and all Unpaid Reimbursement Obligations. No Swing Line Loan shall be used for the purpose of funding the payment of principal of any other Swing Line Loan. Each Swing Line Borrowing shall be in an amount of $500,000 or an integral multiple of $100,000 in excess thereof. Swing Line Loans must be Base Rate Loans only, and may not be LIBOR Rate Loans and, prior to a Settlement, interest on such Swing Line Loans shall be for the account of the Administrative Agent. For purposes of §3 through §16 of this Credit Agreement, unless otherwise specified, the term “Revolving Credit Loans” shall be deemed to include “Swing Line Loans”.