Common use of U.S. Swingline Commitment Clause in Contracts

U.S. Swingline Commitment. Subject to the terms and conditions set forth herein, the US Swingline Lender agrees to make US Swingline Loans to US Borrowers from time to time during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in the aggregate principal amount of outstanding US Swingline Loans exceeding $35 million and provided that after making a US Swingline Loan, the sum of the total US Revolving Exposures shall not exceed the lesser of (A) the total Revolving Commitments minus any Line Reserve and (B) the Borrowing Base then in effect; provided that the US Swingline Lender shall not be required to make a US Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, US Borrowers may borrow, repay and reborrow US Swingline Loans.

Appears in 2 contracts

Samples: Credit Agreement (LNT Leasing II, LLC), Credit Agreement (Linens N Things Inc)

AutoNDA by SimpleDocs

U.S. Swingline Commitment. Subject to the terms and conditions set forth herein, the US Swingline Lender agrees to make US Swingline Loans to US Borrowers from time to time during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in the aggregate principal amount of outstanding US Swingline Loans exceeding $35 50 million and provided that after making a US Swingline Loan, the sum of the total US Revolving Exposures shall not exceed the lesser of (A) the total Revolving Commitments minus any Line Reserve and (B) the Borrowing Base minus the U.S. Minimum Availability Requirement then in effect; provided that the aggregate US Revolving Exposure shall not exceed the amount equal to the Borrowing Base minus the U.S. Minimum Availability Requirement; provided further that the US Swingline Lender shall not be required to make a US Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, US Borrowers may borrow, repay and reborrow US Swingline Loans.

Appears in 1 contract

Samples: Option Credit Agreement (Linens N Things Inc)

AutoNDA by SimpleDocs

U.S. Swingline Commitment. Subject to the terms and conditions set forth herein, the US Swingline Lender agrees to make US Swingline Loans to the US Borrowers Borrower from time to time during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding US Cayman Swingline Loans exceeding $35 5.0 million and provided that after making a less the aggregate principal amount of US Swingline Loan, Loans then outstanding or (ii) the sum of the total US Revolving Exposures shall not exceed the lesser of (A) exceeding the total Revolving Commitments minus any Line Reserve and (B) the Borrowing Base then in effectCommitments; provided that the US Swingline Lender shall not be required to make a US Swingline Loan to refinance an outstanding US Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the US Borrowers Borrower may borrow, repay and reborrow US Swingline Loans.

Appears in 1 contract

Samples: Credit Agreement (Sciele Pharma, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.