Common use of The Swingline Advances Clause in Contracts

The Swingline Advances. (a) Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion of the credit otherwise available to the Borrowers under the Commitments from time to time during the period from the Effective Date until the Extended Termination Date by making swing line advances (“Swingline Advances”) to the Borrowers; provided that (i) the aggregate principal amount of Swingline Advances outstanding at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the Swingline Advances outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Advances, may exceed the Swingline Commitment then in effect) and (ii) the amount of any Swingline Advance made at any time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Line Cap at such time; provided that the Swingline Lender shall not be obligated to make any Swingline Loan at any time when any Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless the Swingline Lender has entered into satisfactory arrangements with the Borrowers or such Lender to eliminate the Swingline Lender’s risk with respect to such Lender. During the period from the Effective Date until the Extended Termination Date, the Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Advances shall only be available as Base Rate Advances.

Appears in 2 contracts

Samples: Intercreditor Agreement (Sears Holdings Corp), Credit Agreement (Sears Holdings Corp)

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The Swingline Advances. (a) Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion of the credit otherwise available to the Borrowers under the Commitments from time to time during the period from the Effective Date until the Extended Termination Date by making swing line advances (“Swingline Advances”) to the Borrowers; provided that (i) the aggregate principal amount of Swingline Advances outstanding at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the Swingline Advances outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Advances, may exceed the Swingline Commitment then in effect) and (ii) the amount of any Swingline Advance made at any time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Line Cap at such time; provided that the Swingline Lender shall not be obligated to make any Swingline Loan at any time when any Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless the Swingline Lender has entered into satisfactory arrangements with the Borrowers or such Lender to eliminate the Swingline Lender’s risk with respect to such Lender. During the period from the Effective Date until the Extended Termination Date, the Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Advances shall only be available as Base Rate Advances.

Appears in 1 contract

Samples: Intercreditor Agreement (Sears Holdings Corp)

The Swingline Advances. (a) . (a) Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion of the credit otherwise available to the Borrowers Borrower under the Commitments from time to time during the period from the Commitment Effective Date until the Extended Termination Date by making swing line advances (“Swingline Advances”) to the BorrowersBorrower; provided that (i) the aggregate principal amount of Swingline Advances outstanding at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the Swingline Advances outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Advances, may exceed the Swingline Commitment then in effect) and (ii) the amount of any Swingline Advance made at any time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Line Cap at such time; provided that the Swingline Lender shall not be obligated to make any Swingline Loan at any time when any Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless the Swingline Lender has entered into satisfactory arrangements with the Borrowers Borrower or such Lender to eliminate the Swingline Lender’s risk with respect to such Lender. During the period from the Commitment Effective Date until the Extended Termination Date, the Borrowers Borrower may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Advances shall only be available as Base Rate Advances or Prime Rate Advances.

Appears in 1 contract

Samples: Credit Agreement (Sears Canada Inc.)

The Swingline Advances. (ai) Subject to Each Swingline Lender severally agrees, on the terms and conditions hereofhereinafter set forth, the Swingline Lender agrees to make a portion of the credit otherwise available Swingline Advance denominated in Dollars to the Borrowers under the Commitments Borrower from time to time on any Business Day during the period from the Amendment No. 1 Effective Date until the Extended Termination Date in an aggregate amount not to exceed (x) the Swingline Sublimit, (y) such Swingline Lender’s Swingline Commitment and (z) when the aggregate amount of outstanding Swingline Advances of each Swingline Lender is combined with the aggregate amount of Revolving Credit Advances made by making swing line advances (“a Revolving Credit Lender acting as a Swingline Advances”) to Lender plus such Revolving Credit Lendxx’x Xatable Share of all the BorrowersLetters of Credit outstanding at such time, the Revolving Credit Commitment of such Revolving Credit Lender acting as a Swingline Lender; provided that no Swingline Lender shall be required to (ibut may at its option) the aggregate principal make a Swingline Advance to refinance an outstanding Swingline Advance. Each Swingline Borrowing shall be in an amount not less than $5,000,000 or any multiple in excess of $1,000,000 and shall consist of Swingline Advances outstanding at any time shall made on the same day by one or more Swingline Lenders in an aggregate amount not to exceed the Swingline Commitment then limits set forth in effect (notwithstanding that this Section 2.01(d)(i). Within the Swingline Advances outstanding at any time, when aggregated with the limits of each Swingline Lender’s other outstanding Swingline Commitment, the Borrower may borrow under this Section 2.01(d)(i), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(d)(i). A Swingline Advance may be refinanced on any Business Day with a Revolving Advances, may exceed the Swingline Commitment then in effectCredit Advance pursuant to Section 2.06(d) and (ii) the amount of any Swingline Advance made at any time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Line Cap at such time; provided that the Swingline Lender shall not be obligated to make any Swingline Loan at any time when any Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless the Swingline Lender has entered into satisfactory arrangements with the Borrowers or such Lender to eliminate the Swingline Lender’s risk with respect to such Lender. During the period from the Effective Date until the Extended Termination Date, the Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Advances shall only be available as Base Rate AdvancesSection 2.02(a).

Appears in 1 contract

Samples: Credit Agreement (Td Synnex Corp)

The Swingline Advances. (ai) Subject to Each Swingline Lender severally agrees, on the terms and conditions hereofhereinafter set forth, the Swingline Lender agrees to make a portion of the credit otherwise available Swingline Advance denominated in Dollars to the Borrowers under the Commitments Borrower from time to time on any Business Day during the period from the Effective Restatement Date until the Extended Termination Date in an aggregate amount not to exceed (x) the Swingline Sublimit, (y) such Swingline Lender’s Swingline Commitment and (z) when the aggregate amount of outstanding Swingline Advances of each Swingline Lender is combined with the aggregate amount of Revolving Credit Advances made by making swing line advances (“a Revolving Credit Lender acting as a Swingline Advances”) to Lender plus such Revolving Credit Lender’s Ratable Share of all the BorrowersLetters of Credit outstanding at such time, the Revolving Credit Commitment of such Revolving Credit Lender acting as a Swingline Lender; provided that no Swingline Lender shall be required to (ibut may at its option) the aggregate principal make a Swingline Advance to refinance an outstanding Swingline Advance. Each Swingline Borrowing shall be in an amount not less than $5,000,000 or any multiple in excess of $1,000,000 and shall consist of Swingline Advances outstanding at any time shall made on the same day by one or more Swingline Lenders in an aggregate amount not to exceed the Swingline Commitment then limits set forth in effect (notwithstanding that the Swingline Advances outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Advances, may exceed the Swingline Commitment then in effect) and (ii) the amount of any Swingline Advance made at any time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Line Cap at such time; provided that the Swingline Lender shall not be obligated to make any Swingline Loan at any time when any Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless the Swingline Lender has entered into satisfactory arrangements with the Borrowers or such Lender to eliminate the Swingline Lender’s risk with respect to such Lender. During the period from the Effective Date until the Extended Termination Date, the Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Advances shall only be available as Base Rate Advances.this Section 2.01

Appears in 1 contract

Samples: Credit Agreement (Td Synnex Corp)

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The Swingline Advances. (a) Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion of the credit otherwise available to the Borrowers under the Revolving Commitments from time to time during the period from the Effective Date until the Extended Revolving Termination Date by making swing line advances (“Swingline Advances”) to the Borrowers; provided that (i) the aggregate principal amount of Swingline Advances outstanding at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the Swingline Advances outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Advances, may exceed the Swingline Commitment then in effect) and (ii) the amount of any Swingline Advance made at any time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Line Cap at such time; provided that the Swingline Lender shall not be obligated to make any Swingline Loan at any time when any Revolving Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless the Swingline Lender has entered into satisfactory arrangements with the Borrowers or such Revolving Lender to eliminate the Swingline Lender’s risk with respect to such Revolving Lender. During the period from the Effective Date until the Extended Revolving Termination Date, the Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Advances shall only be available as Base Rate Advances.

Appears in 1 contract

Samples: Credit Agreement (Sears Holdings Corp)

The Swingline Advances. (a) Subject to the terms and conditions hereof, the Swingline Lender agrees to may, in its discretion, make a portion of the credit otherwise available to the Borrowers under the Revolving Commitments from time to time during the period from the Effective Date until the Extended Termination Date by making swing line advances (“Swingline Advances”) to the Borrowers; provided that (i) the aggregate principal amount of Swingline Advances outstanding at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the Swingline Advances outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Advances, may exceed the Swingline Commitment then in effect) and (ii) the amount of any Swingline Advance made at any time, when aggregated with all other then outstanding Extensions of Credit (excluding FILO Extensions of Credit), shall not exceed the Line Cap at such time; provided that the Swingline Lender shall not be obligated to make any Swingline Loan at any time when any Revolving Lender is at such time a Defaulting Lender or Deteriorating Lender hereunder, unless and the Swingline Lender has entered into satisfactory arrangements with the Borrowers has, or such Lender to eliminate the Swingline Lender’s risk with respect after giving effect to such LenderSwingline Loan, may have Fronting Exposure. During the period from the Effective Date until the Extended Termination Date, the Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Advances shall only be available as Base Rate Advances.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Sears Holdings Corp)

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