Swing Advance definition

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

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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.

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

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 2.1(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. “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. 44

Swing Advance means an Advance made by the Swingline Lender pursuant to Section 2.01, which must be an ABR Advance. “Swing Advance Note” means the promissory note of the Borrower, substantially in the form of Exhibit B-2, evidencing the obligation

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 the cash amount advanced under the Warehouse Line by the Agent to or for the account of the Company under the terms of SECTION 2.2 of this Credit Agreement.

Swing Advance means an Advance made by the Swing Line Lender pursuant to Section 2.01(b). “Swing Advance 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. “Swing Line Borrowing” means a Borrowing consisting of Advances made to the Borrower pursuant to Section 2.01(b). “Swing Line Lender” means Huntington, in its capacity as such, and its successors and permitted assigns in such capacity. “Syndicated Borrowing” means a Borrowing consisting of Advances made to the Borrower pursuant to Section 2.01(a). “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. “Term SOFR” means, (a) for any calculation with respect to a SOFR Borrowing, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, that if as of 5:00 p.m. (Eastern time) on any Periodic Term SOFR Determination 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 U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business