Examples of Swingline Capital in a sentence
Each of the Lenders acknowledges that the Swingline Lender will make Swingline Loans on same-day notice to facilitate the administration of the facility evidenced by this Agreement, but that the Swingline Lender will do so based on its expectation that not later than the next succeeding Swingline Settlement Date, each other Lender will purchase its ratable share of the aggregate outstanding Swingline Capital at par.
All Interest (and Fees) accrued on or with respect to the Swingline Capital prior to such payment shall remain payable to the Swingline Lender for its own account.
Accordingly, not later than 3:00 p.m. (New York City time) on the Business Day before each Swingline Settlement Date, if any Swingline Capital is then outstanding, the Swingline Lender shall send a written statement (a “Swingline Statement”) to each of the other Lender setting forth the amount of the outstanding Swingline Capital and each such Lender ratable share thereof (such Lender’s “Swingline Settlement Amount”).