Examples of UK Swing Line Lender in a sentence
Not later than 2:00 p.m. (London time) on the applicable Borrowing Date, each UK Swing Line Lender shall make available its UK Swing Line Share of the UK Swing Line Loan, in funds immediately available in London, to the European Administrative Agent at its address specified pursuant to Article XIII.
The Administrative Agent shall remit the funds so received to the U.K. Swing Line Lender.
Each Borrowing of U.K. Swing Line Loans shall be made upon the U.K. Borrower’s irrevocable written notice to the U.K. Swing Line Lender and the Administrative Agent, which shall be signed by a Responsible Officer of the U.K. Borrower and which may be given by facsimile.
Each such facsimile notice must be confirmed promptly by delivery of the original executed notice to the U.K. Swing Line Lender.
The U.K. Swing Line Lender shall be responsible for invoicing the U.K. Borrower for interest on the U.K. Swing Line Loans.
At any time that there shall exist a Defaulting Lender, immediately upon the request of the Administrative Agent, the L/C Issuer, the Swing Line Lender, the U.K. Swing Line Lender or the Canadian Lender, the Company shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect to Section 2.17(a)(iv) and any Cash Collateral provided by the Defaulting Lender).
Until each Lender funds its Revolving Loans that are Base Rate Loans or Eurocurrency Rate Loans, as applicable, or risk participation pursuant to this Section 2.18 to refinance such Lender’s Applicable Percentage of any U.K. Swing Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the U.K. Swing Line Lender.
Immediately upon the making of a U.K. Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the U.K. Swing Line Lender a risk participation in such U.K. Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such U.K. Swing Line Loan.
The U.K. Borrower shall make all payments of principal and interest in respect of the U.K. Swing Line Loans directly to the U.K. Swing Line Lender.
Each such notice must be received by the U.K. Swing Line Lender and the Administrative Agent not later than 11:00 a.m. (London time) on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum principal amount of £150,000 and integral multiples of £100,000 in excess thereof, and (ii) the requested borrowing date, which shall be a Business Day.