Common use of Unconditional Obligation to Refund Swing Line Loans Clause in Contracts

Unconditional Obligation to Refund Swing Line Loans. (a) Each --------------------------------------------------- Revolving Lender's obligation to make Revolving Credit Loans and to purchase participating interests in accordance with subsections 8.3(a) and (b) above shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any set-off, counterclaim, recoupment, defense or other right which such Revolving Credit Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever; (ii) the occurrence or continuance of any Default or Event of Default; (iii) any adverse change in the condition (financial or otherwise) of the Borrower or any other Person; (iv) any breach of this Agreement by the Borrower or any other Person; (v) any inability of the Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such Revolving Credit Loan is to be made or participating interest is to be purchased or (vi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Credit Lender does not make available to the Administrative Agent the amount required pursuant to subsections 8.3(a) and (b) above, as the case may be, the Administrative Agent shall be entitled to recover such amount on demand from such Revolving Credit Lender, together with interest thereon for each day from the date of non- payment until such amount is paid in full at the Federal Funds Effective Rate for the first two Business Days and at the rate applicable to ABR Loans thereafter.

Appears in 1 contract

Samples: Credit Agreement (Dynatech Corp)

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Unconditional Obligation to Refund Swing Line Loans. (a) Each --------------------------------------------------- Revolving Credit Lender's obligation to make Revolving Credit Loans and to purchase participating interests in accordance with subsections 8.3(a4.3(b) and (bc) above shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any set-off, counterclaim, recoupment, defense or other right which such Revolving Credit Lender may have against the Swing Line Lender, the Borrower Company or any other Person for any reason whatsoever; (ii) the occurrence or continuance of any Default or Event of Default; (iii) any adverse change in the condition (financial or otherwise) of the Borrower Company or any other Person; (iv) any breach of this Agreement by the Borrower Company or any other Person; (v) any inability of the Borrower Company to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such Revolving Credit Loan is to be made or participating interest is to be purchased or (vi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Credit Lender does not make available to the Administrative Agent the amount required pursuant to subsections 8.3(a4.3(b) and (bc) above, as the case may be, the Administrative Agent shall be entitled to recover such amount on demand from such Revolving Credit Lender, together with interest thereon for each day from the date of non- non-payment until such amount is paid in full at the Federal Funds Effective Rate for the first two Business Days and at the rate applicable to ABR Loans thereafter.

Appears in 1 contract

Samples: Credit Agreement (Hexcel Corp /De/)

Unconditional Obligation to Refund Swing Line Loans. (a) Each --------------------------------------------------- Revolving Credit Lender's obligation to make Revolving Credit Loans and to purchase participating interests in accordance with subsections 8.3(a6.3(b) and (bc) above shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any set-off, counterclaim, recoupment, defense or other right which such Revolving Credit Lender may have against the Swing Line Lender, the Borrower Company or any other Person for any reason whatsoever; (ii) the occurrence or continuance of any Default or Event of Default; (iii) any adverse change in the condition (financial or otherwise) of the Borrower Company or any other Person; (iv) any breach of this Agreement by the Borrower Company or any other Person; (v) any inability of the Borrower Company to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such Revolving Credit Loan is to be made or participating interest is to be purchased or (vi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Credit Lender does not make available to the Administrative Agent the amount required pursuant to subsections 8.3(a6.3(b) and (bc) above, as the case may be, the Administrative Agent shall be entitled to recover such amount on demand from such Revolving Credit Lender, together with interest thereon for each day from the date of non- non-payment until such amount is paid in full at the Federal Funds Effective Rate for the first two Business Days and at the rate applicable to ABR Loans thereafter.

Appears in 1 contract

Samples: Credit Agreement (Hexcel Corp /De/)

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Unconditional Obligation to Refund Swing Line Loans. (a) Each --------------------------------------------------- Revolving Lender's obligation to make Revolving Credit Loans and to purchase participating interests in accordance with subsections 8.3(a) and (b) above shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any set-off, counterclaim, recoupment, defense or other right which such Revolving Credit Lender may have against the Swing Line Lender, the Primary Borrower or any other Person for any reason whatsoever; (ii) the occurrence or continuance of any Default or Event of Default; (iii) any adverse change in the condition (financial or otherwise) of the Primary Borrower or any other Person; (iv) any breach of this Agreement by the Primary Borrower or any other Person; (v) any inability of the Primary Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such Revolving Credit Loan is to be made or participating interest is to be purchased or (vi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Credit Lender does not make available to the Administrative Agent the amount required pursuant to subsections 8.3(a) and (b) above, as the case may be, the Administrative Agent shall be entitled to recover such amount on demand from such Revolving Credit Lender, together with interest thereon for each day from the date of non- non-payment until such amount is paid in full at the Federal Funds Effective Rate for the first two Business Days and at the rate applicable to ABR Loans thereafter.

Appears in 1 contract

Samples: Credit Agreement (Dynatech Corp)

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