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).
Sample 1Sample 2Sample 3
Swing Line Tranche is defined in Section 2.1(1).
Sample 1

Examples of Swing Line Tranche in a sentence

  • 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.

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

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

  • The Agent may also, and shall at the request of the Swing Line Lender, require the Borrowers to obtain Advances under the Revolving Credit and use the proceeds to repay the Swing Line Tranche, if doing so would result in the aggregate of the Advances made by the Swing Line Lender under the Revolving Credit reflecting more closely its overall Applicable Percentage of the Revolving Credit.

  • 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 for any reason a payment to the Swing Line Lender under Sections 2.4(4) or 2.4(1) in respect of Advances under the Swing Line Tranche cannot be made or must be rescinded, each Lender shall immediately indemnify the Swing Line Lender for that Lender’s Applicable Percentage of any such payment, and shall do all such things, including purchase of participations in Advances made by the Swing Line Lender, as shall be required to ensure that result.

  • If a position or net position is a debit in favour of the Swing Line Lender and if the Borrowers are entitled to an Advance, the debit shall be deemed to be a Prime Rate Advance (in the case of Canadian Dollars) or Base Rate Advance (in the case of US Dollars) under the Swing Line Tranche in the amount of the debit.

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

  • On the day of receipt of such notice, each of the other Revolving Lenders shall disburse to the Swing Line Lender its respective Applicable Percentage thereof, which shall thereupon be deemed to be Prime Rate Advances (to the extent that the Advances under the Swing Line Tranche were in Canadian Dollars) and Base Rate Advances (to the extent that the Advances under the Swing Line Tranche were in US Dollars), in each case under the Revolving Credit.

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 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.

  • Swing Line Loan has the meaning specified in Section 2.04(a).

  • Refunded Swing Line Loans has the meaning assigned to that term in subsection 2.1A(iii).

  • Swing Line Commitment the obligation of the Swing Line Lender to make Swing Line Loans pursuant to Section 2.6 in an aggregate principal amount at any one time outstanding not to exceed $10,000,000.

  • Swing Line Outstandings means, as of any date of determination, the aggregate principal amount of all Swing Line Loans then outstanding.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • Swing Line Participation Amount as defined in Section 2.7.

  • Swing Line Lender means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

  • Swing Line Lenders means each of the Lenders that has a Swing Line Commitment on Schedule 2.1 hereto, or any successor swing line lender hereunder.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

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

  • Swing Line Rate means an interest rate per annum offered by the Swing Line Lender with respect to the Swing Line Loans, as determined in its sole discretion, but in any event not in excess of the rate applicable to Base Rate Loans at the time of determination.

  • Refunded Swing Line Loan has the meaning ascribed to it in Section 1.1(c)(iii).

  • Swing Line Exposure means, at any time, the aggregate principal amount of all Swing Line Loans outstanding at such time. The Swing Line Exposure of any Lender at any time shall be its Applicable Percentage of the total Swing Line Exposure at such time.

  • Swing Loan Commitment means PNC Bank’s commitment to make Swing Loans to the Borrower pursuant to Section 2.1.2 hereof in an aggregate principal amount up to $10,000,000.

  • Swing Line Loan Notice means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit B.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • U.S. Swing Line Lender means Bank of America in its capacity as provider of U.S. Swing Line Loans, or any successor swing line lender hereunder.