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 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 shall not exceed the Total Availability at such time. During the period from the Effective Date until the 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 be available as Base Rate Advances only. (b) Each Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Advance made to it on the earlier of the Termination Date and the first date after such Swingline Advance is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Advance is made; provided that on each date that a Revolving Advance is borrowed by a Borrower, such Borrower shall repay all Swingline Advances then outstanding, if any, and may use all or a portion of such Revolving Advance to fund such repayment.
Appears in 2 contracts
Samples: Credit Agreement (Sears Roebuck Acceptance Corp), Credit Agreement (Kmart Holding Corp)
The Swingline Advances. (a) Subject Until the occurrence of the Swingline Termination Date, First Union shall make Swingline Advances, subject to the terms provisions of Section 10.1 and conditions Section 10.3 hereof, . Each Swingline Advance shall be made on the Swingline Lender agrees to make a portion of same Business Day (or such longer period as may be requested by the credit otherwise available to the Borrowers under the Commitments from time to time during the period from the Effective Date until the Termination Date by making swing line advances ("Swingline Advances"Issuer) to the Borrowers; provided that after receipt (i) by First Union of a written Swingline Funding Notice substantially in the aggregate principal amount form of Swingline Advances outstanding at any time shall not exceed Exhibit D hereto delivered by 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) Servicer and (ii) by the amount VFCC Deal Agent of any Swingline Advance made at any time shall not exceed --------- a written Funding Notice substantially in the Total Availability at such timeform of Exhibit A hereto delivered --------- to it by the Servicer. During the period from the Effective Date until the Termination Date, the Borrowers may use Each of the Swingline Commitment by borrowing, repaying Funding Notice and reborrowing, all Funding Notice shall include a completed Series 2000-1 Borrowing Base Report substantially in accordance the form of Annex 1 hereto. Each Swingline Funding Notice (along with the terms ------- Series 2000-1 Borrowing Base Report) must be received by First Union, and conditions hereof. Swingline Advances shall each related Funding Notice (along with the Series 2000-1 Borrowing Base Report) must be available as Base Rate Advances only.
(b) Each Borrower shall repay to received by the Swingline Lender the then unpaid principal amount of each Swingline Advance made to it VFCC Deal Agent, no later than 3:00 p.m. on the earlier of the Termination Date and the first date after Business Day for which such Swingline Advance is made that requested. If any Swingline Funding Notice (or Series 2000-1 Borrowing Base Report) is received by First Union, or if any related Funding Notice (or Series 2000-1 Borrowing Base Report) is received by the 15th or last day of a calendar month and is at least two VFCC Deal Agent, after 3:00 p.m. on the Business Days after Day for which such Swingline Advance is made; provided requested or on a day that on each date that is not a Revolving Advance is borrowed by a BorrowerBusiness Day, such Borrower Swingline Funding Notice (or Series 2000-1 Borrowing Base Report) , or such related Funding Notice (or Series 2000-1 Borrowing Base Report), shall repay all be deemed to be received by First Union or the VFCC Deal Agent, as the case may be, at 9:00 a.m. on the next following Business Day. Each such Swingline Advances then outstanding, if any, and may use all or a portion Funding Notice shall specify the amount by which the principal of the Swingline Note is to increase on such date. Each amount specified in any such Swingline Funding Notice must be in an amount at least equal to $100,000. On the date of such Revolving Advance Swingline Advance, First Union shall, upon satisfaction of the applicable conditions set forth in Section 10.3, make available to fund such repaymentthe Servicer, in same day funds, to the account designated by the Servicer in the Swingline Funding Notice, an amount equal to the Swingline Advance.
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Samples: Note Purchase Agreement (MCG Capital Corp), Note Purchase Agreement (MCG Capital Corp)
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 ’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 time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Total Availability 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 onlyAdvances.
(b) Each Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Advance made to it on the earlier of (i) the Extended Termination Date Date, and (ii) the first date after such Swingline Advance is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Advance is made; provided that on each date that a Revolving Advance is borrowed by a Borrower, such Borrower shall repay all Swingline Advances then outstanding, if any, and may use all or a portion of such Revolving Advance to fund such repayment.
Appears in 2 contracts
Samples: Credit Agreement (Sears Holdings Corp), Credit Agreement (Sears Holdings Corp)
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 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 ’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 time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Total Availability 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 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 onlyAdvances.
(b) Each Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Advance made to it on the earlier of (i) the Revolving Termination Date Date, and (ii) the first date after such Swingline Advance is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Advance is made; provided that on each date that a Revolving Advance is borrowed by a Borrower, such Borrower shall repay all Swingline Advances then outstanding, if any, and may use all or a portion of such Revolving Advance to fund such repayment.
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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 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 ’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 time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Total Availability 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 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 onlyAdvances.
(b) Each Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Advance made to it on the earlier of (i) the Termination Date Date, and (ii) the first date after such Swingline Advance is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Advance is made; provided that on each date that a Revolving Advance is borrowed by a Borrower, such Borrower shall repay all Swingline Advances then outstanding, if any, and may use all or a portion of such Revolving Advance to fund such repayment.
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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 Borrower under the Commitments from time to time during the period from the Commitment Effective Date until the 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 ’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 time, when aggregated with all other then outstanding Extensions of Credit, shall not exceed the Total Availability 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 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 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 onlyor Prime Rate Advances.
(b) Each The Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Advance made to it on the earlier of (i) the Termination Date Date, and (ii) the first date after such Swingline Advance is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Advance is made; provided that on each date that a Revolving Advance is borrowed by a Borrowerborrowed, such the Borrower shall repay all Swingline Advances then outstanding, if any, and may use all or a portion of such Revolving Advance to fund such repayment.
Appears in 1 contract
Samples: Credit Agreement (Sears Canada Inc.)
The Swingline Advances. (a) 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 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 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 shall not exceed the Total Availability at such time. During the period from the Effective Date until the 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 be available as Base Rate Advances only.
(b) Each Borrower shall repay to the Swingline Lender the then unpaid principal amount limits of each Swingline Advance made Lender’s Swingline Commitment, the Borrower may borrow under this Section 2.01(d)(i), prepay pursuant to it on the earlier of the Termination Date Section 2.10 and the first date after such reborrow under this Section 2.01(d)(i). A Swingline Advance is made that is the 15th or last day of a calendar month and is at least two may be refinanced on any Business Days after such Swingline Advance is made; provided that on each date that Day with a Revolving Credit Advance is borrowed by a Borrower, such Borrower shall repay all Swingline Advances then outstanding, if any, pursuant to Section 2.06(d) and may use all or a portion of such Revolving Advance to fund such repaymentSection 2.02(a).
Appears in 1 contract
Samples: Credit Agreement (Td Synnex 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 ’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 time, when aggregated with all other then outstanding Extensions of Credit (excluding FILO Extensions of Credit), shall not exceed the Total Availability 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 hereunder, and the Swingline Lender has, or after giving effect to such Swingline 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 onlyAdvances.
(b) Each Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Advance made to it weekly, on the earlier Wednesday of the Termination Date and the first date after such Swingline Advance is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Advance is madeeach week; provided that on each date that a Revolving Advance is borrowed by a Borrower, such Borrower shall repay all Swingline Advances then outstanding, if any, and may use all or a portion of such Revolving Advance to fund such repayment. In all events the unpaid principal balance of all Swingline Advances shall be repaid in full on the Extended Termination Date.
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