Foreign Swingline Borrower definition

Foreign Swingline Borrower means each Foreign Revolving Borrower that has been designated to the Administrative Agent in writing by the Company as a Foreign Swingline Borrower, provided that (x) its Maximum Credit Limit will remain unchanged and (y) there shall not be more than two Foreign Swingline Borrowers at any time and, provided, further, that the Company may revoke any such designation as to any Person at a time when no Swingline Loans are outstanding to such Person.

Foreign Swingline Borrower has the meaning specified in Section 3.3(a).

Foreign Swingline Borrower means each Revolving Borrower that is a Foreign Subsidiary (or Parent prior to the Restructuring Date) that has been designated to the Administrative Agent in writing by the Term Borrower as a Foreign Swingline Borrower, PROVIDED that (x) its Maximum Credit Limit will remain unchanged and (y) there shall not be more than two Foreign Swingline Borrowers at any time and, PROVIDED, FURTHER, that the Term Borrower may revoke any such designation as to any person at a time when no Swingline Loans are outstanding to such person.

Examples of Foreign Swingline Borrower in a sentence

• Each Foreign Swingline Borrower hereby unconditionally promises to pay in Euros to each Swingline Euro Lender the then unpaid principal amount of each Swingline Euro Loan made by such Lender to such Borrower on the earlier of the Revolving Facility Maturity Date and the last day of the Interest Period applicable to such Swingline Euro Loan.

• Each Foreign Swingline Borrower hereby unconditionally promises to pay in Euros to each Swingline Euro Lender the then unpaid principal amount of each Swingline Euro Loan made by such Lender to such Borrower on the earlier of the Tranche 2 Revolving Facility Maturity Date and the last day of the Interest Period applicable to such Swingline Euro Loan.

• Each applicable Foreign Swingline Borrower promises to pay interest on its Foreign Swingline Loans in arrears on each applicable Interest Payment Date (or at such other times as may be specified herein).

• The applicable Foreign Swingline Borrower may prepay Foreign Swingline Loans in accordance with terms agreed to by such Foreign Swingline Borrower and the applicable Foreign Swingline Lender, and any prepayment of a Foreign Swingline Loan shall be subject to Section 4.11.

• Notwithstanding the forgoing, each Foreign Swingline Lender hereby agrees that interest payable by the applicable Foreign Swingline Borrower on the Foreign Swingline Loans owing to such Foreign Swingline Lender as described in Section 3.3 shall be reduced by the amount of any Foreign Currency Commitment Unused Fee received by such Foreign Swingline Lender based on its Foreign Currency Commitment equal to the amount of such Foreign Swingline Loans.

• The applicable Foreign Swingline Borrower shall pay to the applicable Foreign Swingline Lender, for its own account, in accordance with the terms of Section 4.5(a), on the date of each termination or reduction of the applicable Foreign Swingline Commitment, the Foreign Swingline Unused Fee accrued through the date of such termination or reduction on the amount of such Foreign Swingline Commitment so terminated or reduced.

• Each Foreign Swingline Commitment shall automatically terminate on the Maturity Date (or such earlier date as agreed by the applicable Foreign Swingline Borrower and the applicable Foreign Swingline Lender).

• Each Foreign Borrower and Foreign Swingline Borrower agrees that such notice is reasonable to enable it sufficient time to prepare and present its case before the arbitration panel.