Swing Advance definition

Swing Advance means an Advance made by the Swingline Lender pursuant to Section 2.1(b).

Swing Advance means an Advance made by BB&T pursuant to Section 2.01(b), which must be a Base Rate Advance.

Swing Advance means an Advance made by the Swingline Lender pursuant to Section 2.01, which must be a Base Rate Advance or an Index Euro-Dollar Advance.

Examples of Swing Advance in a sentence

• Each Swing Advance under this Section 2.1(b) shall be in an aggregate principal amount of $2,000,000 or any larger multiple of $1,000,000.

• So long as any Lender is a Defaulting Lender, the Swingline Lender shall not fund Swing Advances unless (i) each Non-Defaulting Lender shall have consented thereto, and (ii) the Swingline Lender is satisfied that it will have no Fronting Exposure after giving effect to such Swing Advance and any reallocation to other Lenders.

• Each Borrower Notice shall specify the amount (subject to Section 2.1 hereof) of Advances to be borrowed or repaid and the Funding Date or repayment date (which, in all cases, shall be a Business Day) and whether such Advance is a Revolver Advance or a Swing Advance.

• The Borrower may, concurrent with the delivery of a Funding Request for a Swing Advance under this Section 2.1(b) or at any time thereafter, deliver a Funding Request for a Revolver Advance pursuant to Section 2.1(a) and direct that all or any portion of such Revolver Advance be wired or credited to Swing Lender immediately on the Funding Date of such Revolver Advance to prepay any Swing Advance then outstanding.

• Unless the Administrative Agent determines that any applicable condition specified in Article III has not been satisfied, the Swingline Lender will make available to the Borrower the amount of any such Swing Advance.

More Definitions of Swing Advance

Swing Advance has the meaning set forth in Section 2.17.

Swing Advance means an Advance made by the Swingline Lender pursuant to Section 2.1(b). “Swing Prepayment Amount” is defined in Section 12.16(e).

Swing Advance means an Advance made by the Swingline Lender pursuant to Section 2.01, which must be a Base Rate Advance or an Index Term Benchmark Advance.

Swing Advance means an Advance made by the Swing Line Lender pursuant to Section 2.01(b), which must be a Base Rate Advance. “Swing Advance Note” means the promissory note of the Borrower, substantially in the form of Exhibit D, evidencing the obligation of the

Swing Advance means the cash amount advanced under the Warehouse Line by the Agent to or for the account of the Company under the terms of Section 2.2A of this Credit Agreement.

Swing Advance means an Advance made by the Swingline Lender pursuant to Section 2.1(b). “Swing Prepayment Amount” is defined in Section 12.16(e). “Swingline Lender” means KeyBank, in its capacity as lender of Swing Advances hereunder. “Swingline Note” means the promissory note of the Borrower, substantially in the form of Exhibit B-2, evidencing the obligation of the Borrower to repay the Swing Advances, together with all amendments, consolidations, modifications, renewals, and supplements thereto. “Taxes” means any present or future taxes, levies, imposts, duties, charges, assessments or fees of any nature (including interest, penalties, and additions thereto) that are imposed by any Government Authority. “Term SOFR” means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body. “Termination Date” means the earliest to occur of (a) the date declared by the Administrative Agent or occurring automatically in respect of the occurrence of an Early Termination Event pursuant to Section 8.1, (b) a date selected by the Borrower upon at least 30 days’ prior written notice to the Administrative Agent and each Managing Agent and (c) the Commitment Termination Date. “Termination Notice” is defined in Section 7.18. “Termination Premium” is defined in Section 2.3(a). “Term SOFR” means for any calculation with respect to a SOFR Advance, the Term SOFR Reference Rate on the day (such day, the “Lookback Day”) that is two SOFR Business Days prior to the first day of such Settlement Period (and rounded in accordance with the Administrative Agent’s customary practice), as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Lookback Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding SOFR Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term 46

Swing Advance means an Advance made by the Swingline Lender pursuant toSection 2.01, which must be a Base Rate Advance.