Swingline Loan Limit definition

Swingline Loan Limit means, at any time, the smaller of the following amounts: (i) $10,000,000, and (ii) the aggregate Revolving Credit Commitments minus the sum of the Outstanding Amount of Revolving Credit Loans, Swingline Loans and L/C Obligations; provided that, in each case, the Swingline Loan Limit shall be reduced by any Defaulting Lender’s Applicable Percentage of the Swingline Loan Commitment which cannot be reallocated pursuant to Section 2.14.
Sample 1Sample 2
Swingline Loan Limit means, at any time, the smaller of the following amounts: (i) $10,000,000, (ii) the aggregate Revolver Commitment minus the Revolver Usage and (iii) the Borrowing Base, minus the amount of Revolving Loans outstanding.
Sample 1Sample 2Sample 3
Swingline Loan Limit means, at any time, the amount shown as such on Annex I attached hereto (as such annex may be amended from time to time).
Sample 1

Examples of Swingline Loan Limit in a sentence

  • The Swingline Loans made by Swingline Lender shall be evidenced, if so requested by Swingline Lender, by a promissory note executed by Borrower (a “Swingline Loan Note”) in an original principal amount equal to the amount identified in clause (i) of the definition of Swingline Loan Limit.

  • If at any time the Swingline Loan Outstandings exceed the Swingline Loan Limit, then, on the next succeeding Business Day, Borrower shall repay Revolving Loans and/or Swingline Loans or cash collateralize Letter of Credit Liabilities in the manner specified in Section 2.5(e) or cancel outstanding Letters of Credit, or any combination of the foregoing, in an aggregate amount equal to such excess.

  • If at any time the Outstanding Amount of Swingline Loans exceeds the Swingline Loan Limit, then, on the next succeeding Business Day, the Borrower shall repay Swingline Loans in an aggregate amount equal to such excess.

  • The Swingline Loans made by Swingline Lender shall be evidenced, if so requested by Swingline Lender, by a promissory note executed by Borrowers on a joint and several basis (a “Swingline Loan Note”) in an original principal amount equal to the amount identified in clause (i) of the definition of Swingline Loan Limit.

  • The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Swingline Loan Limit, the Letter of Credit Sublimit or the Revolving Credit Commitment under this Section 2.05.

  • The integration core can be thought of as the spatial hub of the system; it contributes most to keeping the parts together, and it is likely to feature many functional transitions as people traverse the facility.

  • If at any time the Swingline Loan Outstandings exceed the Swingline Loan Limit, then, on the next succeeding Business Day, Borrowers shall repay Revolving Loans and/or Swingline Loans or cash collateralize Letter of Credit Liabilities in the manner specified in Section 2.5(e) or cancel outstanding Letters of Credit, or any combination of the foregoing, in an aggregate amount equal to such excess.

  • The Swingline Lender shall not make any Swingline Loans to the extent that the aggregate principal amount of the Swingline Loans at any time outstanding would exceed $10,000,000 or would cause the aggregate amount of all outstanding Revolving Loans, Swingline Loans and Letters of Credit Outstanding to exceed the Revolving Loan Maximum Aggregate Principal Amount ("Swingline Loan Limit").

  • The Swingline Loans made by Swingline Lender shall be evidenced, if so requested by Swingline Lender, by a promissory note executed by Borrower (a “Swingline Loan Note”) in an original principal amount equal to the amount identified In clause (i) of the definition of Swingline Loan Limit.

  • The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Swingline Loan Limit, Letter of Credit Sublimit or the Revolving Credit Commitment under this Section 2.05.

Related to Swingline Loan Limit

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Swingline 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 Loans as defined in Section 2.6.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

  • U.S. Swingline Loan means any swingline loan denominated in Dollars made by the applicable Swingline Lender to a US Borrower pursuant to Section 2.2, and all such swingline loans collectively as the context requires.

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

  • 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.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Swingline Loan Request has the meaning set forth in Section 2.06(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.

  • 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.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).

  • Revolving Credit Limit has the meaning set forth in the Schedule.

  • Swing Loan Lender means PNC, in its capacity as lender of the Swing Loans.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

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

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Swing Loans means collectively and “Swing Loan” shall mean separately all Swing Loans or any Swing Loan made by the Swingline Lender to the Borrower pursuant to Section 2.6.3 [Making Swing Loans].

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Swingline Loan Notice means a notice of a Swingline Borrowing pursuant to Section 2.04(b), which shall be substantially in the form of Exhibit J or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

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

  • Swingline Loan means a Loan made pursuant to Section 2.04.

  • Revolving Credit Loans as defined in Section 2.1.

  • 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.