Examples of UK Swing Line Lender in a sentence
The Administrative Agent shall remit the funds so received 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.
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.
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.
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. 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.
Notwithstanding anything to the contrary contained herein, if at any time Wxxxx Fargo or HSBC, as applicable, assigns all of its Commitment or UK Commitment, as applicable, and Loans pursuant to subsection (b) above, Wxxxx Fargo may, (i) upon 30 days’ notice to the Company and the Lenders, resign as an L/C Issuer and/or (ii) upon 30 days’ notice to the Company, resign as US Swing Line Lender, and HSBC shall, upon effectiveness of any such assignment, cease to be an L/C Issuer and the UK 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.
The Company shall pay to the Administrative Agent for the account of each Lender (other than the UK Swing Line Lender) in accordance with its Applicable Percentage, a commitment fee in Dollars equal to the Applicable Rate for the Commitment Fee times the actual daily amount by which the Aggregate Commitments (US) exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations (excluding the UK Issued L/Cs).