Swing Line Tranche definition

Swing Line Tranche means the carveout of the Revolving Credit under which overdrafts are available as described in Section 2.1(1).
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Swing Line Tranche is defined in Section 2.1(1).
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Examples of Swing Line Tranche in a sentence

  • All payments of principal, interest, fees and other amounts relating to the Swing Line Tranche shall be made solely to the Swing Line Lender.

  • Notice and minimum amount requirements for Advances shall not apply to Advances by way of overdraft under the Swing Line Tranche.

  • The records maintained by the Agent, by the Issuing Bank relating to L/Cs and by the Swing Line Lender relating to the Swing Line Tranche, shall constitute prima facie evidence of the Obligations and all related details.

  • The Agent may revise those adjustments from time to time, having regard to the amounts outstanding or committed under the Swing Line Tranche and the Main Tranche, so that the aggregate of the Advances made by the Swing Line Lender under the Revolving Credit reflects as closely as reasonably possible its overall Applicable Percentage of the Revolving Credit.

  • Any notices by the Borrowers in connection with the Swing Line Tranche shall be made to the Swing Line Lender.

  • If a position or net position is a credit in favour of the Borrowers, the credit shall be deemed to be a repayment of Prime Rate Advances (in the case of Canadian Dollars) or Base Rate Advances (in the case of US Dollars) under the Swing Line Tranche in the amount of the credit.

  • The Swing Line Lender shall not, however, be required to make any such Advance if doing so would result in the sum of the Advances made by the Swing Line Lender under the Revolving Credit (other than the Swing Line Tranche) plus the Advances made by the Swing Line Lender under the Swing Line Tranche exceeding the Swing Line Lender’s Applicable Percentage of the Revolving Credit (without reference to the Swing Line Tranche).

  • While the Swing Line Lender is the sole Lender making Advances under the Swing Line Tranche, its participation in Advances and payments (including standby fees) under the Revolving Credit shall be reduced and the participation of the other Revolving Lenders under the Revolving Credit shall be correspondingly increased as specified in Schedule E.

  • If the unadvanced Commitments of the other Revolving Lenders would not be sufficient to cover their obligations and the obligations of the Defaulting Lender under Section 9.1 then the Borrowers shall repay Advances under the Swing Line Tranche and/or provide cash Collateral to the Issuing Bank to secure L/Cs to the extent necessary to cover the deficiency.

  • Interest for the Swing Line Tranche shall be paid to the Swing Line Lender for its own account.

Related to Swing Line Tranche

  • Swing Line Loans as defined in Section 2.6.

  • Swing Line Loan Commitment means the commitment of Swing Line Lender to make Swing Line Loans to Company pursuant to subsection 2.1A(iii).

  • Swing Line Facility means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Revolving Credit Lender pursuant to Section 2.02(b).

  • Swing Line Loan Commitment Amount means, on any date, $5,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.