U.S. Swing Loans. Each US Swing Loan shall bear interest on each day outstanding at the US Swing Rate for such US Swing Loan in effect on such day.
U.S. Swing Loans. From and including the Closing Date, and prior to the Termination Date, each U.S. Swing Lender severally agrees, on the terms and conditions set forth in this Agreement and in reliance upon the agreement of the other Revolving Lenders set forth in Section 2.24, to make U.S. Swing Loans to any Borrower in Dollars from time to time in a principal amount not to exceed in the aggregate at any one time outstanding for all of the Borrowers the Dollar Amount of its U.S. Swing Commitment; provided that (a) each U.S. Swing Lender shall be obligated to make only its pro rata share of each U.S. Swing Loan (such pro rata share to be determined by dividing the unused U.S. Swing Commitment of each U.S. Swing Lender then in effect by the aggregate unused U.S. Swing Commitments then in effect, it being understood that the pro rata shares of the U.S. Swing Lenders with respect to a portion of a U.S. Swing Loan may be different than the pro rata shares of the U.S. Swing Lenders with respect to another portion of such U.S. Swing Loan), (b) the Dollar Amount of the outstanding principal of the Swing Loans (regardless of the currency in which such Swing Loans are denominated) made by any Swing Lender shall not at any time exceed the greater of (i) its U.S. Swing Commitment and (ii) its Maximum Swing Commitment (if any), (c) the Dollar Amount of the outstanding principal of all Swing Loans (regardless of the currency in which such Swing Loans are denominated) plus the Dollar Amount of the outstanding principal of all Revolving Loans shall not at any time exceed the Total Commitment and (d) during any period of ten consecutive Business Days, there must be at least one day on which no U.S. Swing Loans are outstanding. Subject to the terms of this Agreement, any Borrower may borrow, repay and reborrow U.S. Swing Loans at any time prior to the Termination Date. The U.S. Swing Commitment shall expire on the Termination Date.
U.S. Swing Loans. (i) Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate advances and repayments between Settlement Dates, PNC may, at its option, cancelable at any time for any reason whatsoever upon notice to U.S. Borrowing Agent, make swing loans (the “U.S. Swing Loans”) (which shall be Domestic Rate Loans only) to U.S. Borrowers at any time or from time to time after the date hereof to, but not including, the last day of the Term, in an aggregate principal amount up to but not in excess of the U.S. Swing Loan Commitment; provided that the aggregate principal amount of PNC’s U.S. Swing Loans and the U.S. Revolving Advances of all the Lenders shall not exceed the lesser of (x) the Maximum U.S. Revolving Advance Amount less the aggregate Maximum Undrawn Amount of outstanding U.S. Letters of Credit or (y) the U.S. Formula Amount. Within such limits of time and amount and subject to the other provisions of this Agreement, U.S. Borrower may borrow, repay and reborrow pursuant to this Section 2.25(a). 70
U.S. Swing Loans. From and including the Closing Date, and prior to the Revolving Termination Date, each U.S. Swing Lender severally agrees, on the terms and conditions set forth in this Agreement and in reliance upon the agreement of the other Multi-Currency Revolving Lenders set forth in Section 2.24, to make U.S. Swing Loans to the Borrower in Dollars from time to time in an aggregate principal amount not to exceed the U.S. Swing Commitment; provided that (a) each U.S. Swing Lender shall be obligated to make U.S. Swing Loans in an aggregate amount equal to 50% of the U.S. Swing Commitment, (b) each U.S. Swing Lender shall make 50% of each U.S. Swing Loan, (c) the aggregate amount of the outstanding Multi-Currency Revolving Loans and Swing Loans shall not at any time exceed the Multi-Currency Total Commitment and (d) during any period of ten consecutive Business Days, there must be at least one day on which no U.S. Swing Loans are outstanding. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow U.S. Swing Loans at any time prior to the Revolving Termination Date. The U.S. Swing Commitment shall expire on the Revolving Termination Date. Any U.S. Swing Loans shall be deemed to be usage of the Multi-Currency Revolving Commitments and not the Dollar Revolving Commitments.
U.S. Swing Loans. From and including the Closing Date, and prior to the Termination Date, each U.S. Swing Lender severally agrees, on the terms and conditions set forth in this Agreement and in reliance upon the agreement of the other Revolving Lenders set forth in Section 2.24, to make U.S. Swing Loans to the Borrowers in Dollars from time to time in an aggregate principal amount not to exceed the U.S. Swing Commitment; provided that (a) each U.S. Swing Lender shall be obligated to make 20% of each U.S. Swing Loan, provided that, unless and until a fifth Lender agrees to be a U.S. Swing Lender by notice to the Administrative Agent, each of Bank of America and JPMorgan Chase Bank shall be obligated to make 30% of each U.S. Swing Loan and each of Citibank, N.A. and HSBC Bank USA, N.A. shall be obligated to make 20% of each U.S. Swing Loan, (b) the aggregate amount of all outstanding Loans shall not at any time exceed the Total Commitment and (c) during any period of ten consecutive Business Days, there must be at least one day on which no U.S. Swing Loans are outstanding. Subject to the terms of this Agreement, any Borrower may borrow, repay and reborrow U.S. Swing Loans at any time prior to the Termination Date. The U.S. Swing Commitment shall expire on the Termination Date. Any U.S. Swing Loan shall be deemed to be usage of the Revolving Commitments.
U.S. Swing Loans. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, PNC Bank may, at its option, cancelable at any time for any reason whatsoever, make swing loans (the "US Swing Loans") in Dollars to the US Borrowers at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of Thirty Million and 00/100 Dollars ($30,000,000.00) (the "US Swing Loan Commitment"), provided that after giving effect to any such US Swing Loan, (i) the US Revolving Facility Usage shall not exceed the US Revolving Credit Commitments, and (ii) the Consolidated Facility Usage shall not exceed the US Revolving Credit Commitments. Within such limits of time and amount and subject to the other provisions of this Agreement, the US Borrowers may borrow, repay and reborrow pursuant to this Section 2.1.3.
U.S. Swing Loans. PNC Bank may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the applicable US Swing Loan, and each US Bank shall make a US Revolving Credit Loan in an amount equal to such US Bank's US Ratable Share or, if applicable, such US Bank's US Funded Percentage of the aggregate principal amount of the outstanding US Swing Loans, plus, if PNC Bank so requests, accrued interest thereon, provided that no US Bank shall be obligated in any event to make US Revolving Credit Loans in excess of its US Revolving Credit Commitment less its US Ratable Share of the Dollar Equivalent Amount of US Letters of Credit Outstanding. US Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.4.1 [US Loan Requests] without regard to any of the requirements of that provision. PNC Bank shall provide notice to the US Banks (which may be telephonic, written, or facsimile notice) that such US Revolving Credit Loans are to be made under this Section 2.6.1 and of the apportionment among the US Banks, and the US Banks shall be unconditionally obligated to fund such US Revolving Credit Loans (whether or not the conditions specified in Section 2.4.1 [US Loan Requests] are then satisfied) by the time PNC Bank so requests, which shall not be earlier than 2:00 p.m. on the next Business Day after the date the US Banks receive such notice from PNC Bank.
U.S. Swing Loans. US Borrower shall pay interest to Agent, for the sole benefit of the US Swing Line Lender (and any US Lender that shall have purchased a participation in such US Swing Loan), on the unpaid principal amount of each US Swing Loan outstanding from time to time from the date thereof until paid at the US Base Rate. Interest on each US Swing Loan shall be payable on the Swing Loan Maturity Date applicable thereto. Each US Swing Loan shall bear interest for a minimum of one day.
U.S. Swing Loans. During the Revolving Facility Availability Period, the U.S. Swing Line Lender agrees, on the terms and conditions set forth in this Agreement, to make a U.S. Swing Loan or U.S. Swing Loans to the U.S. Borrower from time to time, which U.S. Swing Loans: (i) shall be payable on the Swing Loan Maturity Date applicable to each such U.S. Swing Loan; (ii) shall be made only in Dollars; (iii) may be repaid or prepaid and reborrowed in accordance with the provisions hereof; (iv) may only be made if after giving effect thereto (A) the aggregate principal amount of U.S. Swing Loans outstanding does not exceed the U.S. Swing Line Commitment, and (B) the Aggregate U.S. Credit Facility Exposure would not exceed the lesser of (1) the Total U.S. Revolving Commitment or (2) the U.S. Borrowing Base; (v) shall not be made if, after giving effect thereto, the Company would be required to prepay Loans or Cash Collateralize U.S. Letters of Credit pursuant to Section 2.13(b) hereof; (vi) shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding U.S. Swing Loan and (vii) at no time shall there be more than 3 Borrowings of U.S. Swing Loans outstanding hereunder.
U.S. Swing Loans
