Utilisation Swingline Loans Clause Samples

The 'Utilisation – Swingline Loans' clause defines the terms and conditions under which borrowers can access short-term, small-amount loans—known as swingline loans—within a larger credit facility. Typically, this clause outlines the process for requesting such loans, sets limits on the maximum amount and duration, and specifies any unique repayment or interest terms that differ from standard loans under the agreement. Its core function is to provide borrowers with quick, flexible access to funds for immediate, short-term liquidity needs, thereby addressing temporary cash flow gaps without the administrative burden of a full loan drawdown.