Swingline Loans definition
Examples of Swingline Loans in a sentence
Notwithstanding any contrary provision herein, this Section shall not be construed to permit any Borrower to request a Revolving Credit Loan or a Term Loan bearing interest as Daily RFR Loan denominated in Euros or Yen (it being understood and agreed that such Daily RFR Loans shall only be available as Swingline Loans in accordance with Section 2.5(b)).
The Administrative Agent shall notify each Lender of its Ratable Share of the total of the Revolving Credit Loans and the Swingline Loans (each, a “Required Share”).
So long as PNC elects to make Swingline Loans, PNC shall, after receipt by it of a Swingline Loan Request pursuant to Section 2.5(b), fund such Swingline Loan to any applicable Borrower in Dollars in immediately available funds at the Principal Office prior to 4:00 p.m. New York Time on the Borrowing Date.
A Swingline Loan Note shall, if required by PNC, evidence the Swingline Loans.
Whenever a Borrower desires to prepay any part of the Swingline Loans, it shall provide a prepayment notice to the Administrative Agent no later than 1:00 p.m. Eastern Time.