Common use of The Swing Loans Clause in Contracts

The Swing Loans. On the terms and subject to the conditions contained in this Agreement, each Swing Loan Lender may, in its sole discretion, make loans (each, a “Swing Loan”) to the Swing Loan Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date. Such Swing Loans shall be denominated in Dollars and in an aggregate principal amount not to exceed at any time outstanding the lesser of (i) the Swing Loan Commitments and (ii) the then Unused Commitments of Lenders having Termination Dates falling on or after the proposed maturity date of such Swing Loan. Each Swing Loan must be paid in full upon any Revolving Loan Borrowing by the Swing Loan Borrower hereunder and shall in any event mature no later than the Termination Date. Within the limits set forth in the first sentence of this Section 2.03, amounts of Swing Loans repaid may be reborrowed under this Section

Appears in 2 contracts

Samples: Credit Agreement (FMC Corp), Credit Agreement (FMC Corp)

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The Swing Loans. On The Company may request the Swing Loan Bank to make, and the Swing Loan Bank agrees, on the terms and subject conditions hereinafter set forth, to the conditions contained make Swing Loans to any Borrower in this Agreement, each Swing Loan Lender may, in its sole discretion, make loans (each, a “Swing Loan”) to the Swing Loan Borrower Dollars from time to time on any Business Day during the period from the date hereof of the initial Borrowing until 60 days before the Final Termination Date. Such Swing Loans shall be denominated in Dollars and Date in an aggregate principal amount as to all Borrowers not to exceed at any time outstanding the lesser of (i) the Swing Loan Commitments Facility and (ii) the then Unused Commitments of Lenders having Termination Dates falling on or after the proposed maturity date of such Swing Loan. Each Swing Loan must be paid in full upon any Revolving Loan Borrowing by shall bear interest at the Swing Loan Borrower hereunder and shall in any event mature no later than the Termination DateBase Rate. Within the limits set forth in of the first sentence of Swing Loan Facility and the Unused Commitments as aforesaid, each Borrower may borrow under this Section 2.03, amounts of Swing Loans repaid may be reborrowed repay pursuant to Section 2.06 or prepay pursuant to Section 2.09 and reborrow under this SectionSection 2.03.

Appears in 1 contract

Samples: Credit Agreement (Marriott International Inc /Md/)

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The Swing Loans. On the terms and subject to the conditions contained in this Agreement, each the Swing Loan Lender may, in its sole discretion, shall make loans (each, each a “Swing Loan”) to the a Swing Loan Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date. Such Swing Loans shall be denominated in Dollars any Alternate Currency and in an aggregate principal amount as to all Borrowers not to exceed at any time outstanding the lesser of the Dollar Equivalent of (i) the Swing Loan Commitments and (ii) the then Unused Commitments of Lenders having Termination Dates falling on or after the proposed maturity date of such Swing Loan. Each Swing Loan must be paid in full upon any Revolving Loan Borrowing by the a Swing Loan Borrower hereunder and shall in any event mature no later than the Termination Date. Within the limits set forth in the first sentence of this Section 2.03, amounts of Swing Loans repaid may be reborrowed under this SectionSection 2.03.

Appears in 1 contract

Samples: Credit Agreement (FMC Corp)

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