Common use of Swing Loans Clause in Contracts

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, in its sole discretion, make, in Dollars, loans (each a “Swing Loan”) otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan made by the Swing Loan Lender hereunder) not to exceed the Swing Loan Sublimit; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen days after its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a).

Appears in 4 contracts

Samples: Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp)

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Swing Loans. (a) On During the Revolving Availability Period, the Swing Line Lender may, on the terms and subject to the conditions contained set forth in this Agreement, make a Swing Loan or Swing Loans to the Borrower from time to time, which Swing Loans: (i) shall be payable on the Swing Loan Lender may, in its sole discretion, make, in Dollars, loans (Maturity Date applicable to each a “such Swing Loan; (ii) otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date shall be made only in an aggregate principal amount at any time outstanding dollars; (together iii) may be repaid or prepaid and reborrowed in accordance with the aggregate outstanding principal amount of any other Swing Loan provisions hereof; (iv) may only be made by the Swing Loan Lender hereunder) not to exceed the Swing Loan Sublimit; provided, however, that if after giving effect thereto (iA) the outstanding aggregate principal amount of Swing Loans equal to outstanding does not exceed the amount by which Swing Line Sublimit, and (B) the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 Revolving Exposures would not exceed the total Revolving Commitments at such time; (v) shall not be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender make any Swing Loan to the extent thatmade if, after giving effect thereto, the Borrower would be required to such prepay Loans or cash collateralize Letters of Credit pursuant to Section 2.05(j); and (vi) shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. To request a Swing Loan, the aggregate Revolving Credit Outstandings would exceed Borrower shall notify the Maximum CreditAdministrative Agent and the Swing Line Lender of such request by written notice, not later than 10:00 a.m., New York City time, on the day of such proposed Swing Loan. Each Swing Loan such notice shall be irrevocable and shall specify the requested date (which shall be a Base Rate Loan Business Day) and must be repaid in full within fifteen days after its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Dateaggregate principal amount of the requested Swing Loan. Within the limits set forth in the first sentence of this clause (ab), amounts of Swing Loans repaid may be reborrowed under this clause (a).

Appears in 2 contracts

Samples: Credit Agreement (Digital Media Solutions, Inc.), Credit Agreement (Digital Media Solutions, Inc.)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, in its sole discretion, make, in Dollars, make loans (each a "Swing Loan") otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan Loans made by the Swing Loan Lender hereunderhereunder in its capacity as Lender or Swing Loan Lender) not to exceed the lesser of $5,000,000 and the Swing Loan SublimitLender's Ratable Portion of the Available Credit; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after of its making or, if sooner, upon any Revolving Credit Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a).

Appears in 2 contracts

Samples: Credit Agreement (Aviall Inc), Credit Agreement (Aviall Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, loans (each, together with each a “"Swing Loan" as defined in and made under the Original DIP Credit Agreement, a "Swing Loan") otherwise available to the Borrower under the Revolving Credit Facility (but only as requested by the Borrower) from time to time on any Business Day during the period from the date hereof Initial Closing Date until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan made by the Swing Loan Lender hereunderhereunder in its capacity as a Lender or the Swing Loan Lender) not to exceed the lesser of the (i) the Swing Loan Lender's Ratable Portion of the Available Credit and (ii) the Swing Loan Sublimit; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after its making or, if sooner, upon any Revolving Credit Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a). Swing Loans are not subject to a minimum borrowing amount.

Appears in 1 contract

Samples: Friedmans Inc

Swing Loans. (a) On The Swing Loan Lender, in its sole discretion, on the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, in its sole discretion, make, in Dollars, loans may make advances (each a "Swing Loan") otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof Closing Date until the Revolving Credit Termination Date in an aggregate principal amount not to exceed at any time outstanding (together with the aggregate outstanding principal amount lesser of any other Swing Loan made by the Swing Loan Lender hereunder) not to exceed the Swing Loan Sublimit; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) Available Credit and (ii) the lesser of (A) the Maximum Amount minus the sum of the Stated Amount ----- of all Letters of Credit and the aggregate amount of Revolving Loans outstanding and (B) the Aggregate Borrowing Base minus the sum of the Letter of Credit ----- Reserve and the aggregate amount of Revolving Loans outstanding. Moreover, the sum of the aggregate amount of Loans (including Swing Loans) plus the Letter of ---- Credit Reserve shall not at no any time shall exceed the sum of the Borrower Borrowing Base plus the lesser of the Permitted Amount and the RMSM Borrowing Base. The ---- Swing Loan Lender make any Swing Loan shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen days after its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination DateAgent. Within the limits set forth in the first sentence of this clause (a)above, amounts of Swing Loans repaid may be reborrowed under this clause (a)Section 2.1.4. All Swing Loans shall ------------- be made as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Oregon Steel Mills Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, loans (each a "Swing Loan") otherwise available to the Borrower under the Facility (but only as requested by the Borrower) from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan made by the Swing Loan Lender hereunderhereunder in its capacity as a Lender or the Swing Loan Lender) not to exceed the lesser of the (i) the Swing Loan Lender's Ratable Portion of the Available Credit and (ii) the Swing Loan Sublimit; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a). Swing Loans are not subject to a minimum borrowing amount.

Appears in 1 contract

Samples: Friedmans Inc

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, discretion make loans (each a "Swing Loan") otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan loans made by the Swing Loan Lender hereunderhereunder in its capacity as a Lender or the Swing Loan Lender) at any time not to exceed the lesser of $20,000,000 and the Swing Loan SublimitLender's Ratable Portion of the Available Credit at such time; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after of its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause Section 2.3(a) (a), Swing Loans) amounts of Swing Loans repaid may be reborrowed under this clause Section 2.3(a) (aSwing Loans).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, discretion make loans (each a “Swing Loan”) otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan loans made by the Swing Loan Lender hereunderhereunder in its capacity as a Lender or the Swing Loan Lender) at any time not to exceed the lesser of $20,000,000 and the Swing Loan SublimitLender’s Ratable Portion of the Available Credit at such time; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after of its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), Section 2.3(a) amounts of Swing Loans repaid may be reborrowed under this clause (aSection 2.3(a).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Agreement a Swing Loan Lender may, may in its sole discretion, make, in Dollars, discretion make loans (each a “Swing Loan”"SWING LOAN") otherwise available to the US Borrower under the US Revolving Credit Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan Loans made by the such Swing Loan Lender hereunderhereunder in its capacity as Lender or Swing Loan Lender) not to exceed the lesser of $5,000,000 and such Swing Loan SublimitLender's Ratable Portion of the US Available Credit; providedPROVIDED, howeverHOWEVER, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate US Revolving Credit Outstandings would exceed the Maximum CreditUS Revolving Credit Commitments in effect at such time. Each Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Domestic Administrative Agent. Each Swing Loan shall be a Domestic Base Rate Loan and must be repaid in full within fifteen seven days after of its making or, if sooner, upon any US Revolving Credit Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (aSection 2.3(a), amounts of Swing Loans repaid may be reborrowed under this clause (aSection 2.3(a).; and

Appears in 1 contract

Samples: Credit Agreement (Polaroid Holding Co)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the a Swing Loan Lender may, in its sole discretion, make, make loans denominated in Dollars, loans Dollars (each a “Swing Loan”) otherwise available to the Borrower under the Revolving Credit Facility from time to time on any Business Day during the period from the date hereof Effective Date until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan Loans made by the such Swing Loan Lender hereunderhereunder in its capacity as Lender or Swing Loan Lender) not to exceed the lesser of such Swing Loan SublimitLender’s Ratable Portion of the Available Credit under the Revolving Credit Facility and such Swing Loan Lenders’ Swing Loan Allocation and, together with the aggregate outstanding principal amount of all Swing Loans outstanding, not to exceed $30,000,000; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan at any time to the extent that, after giving effect to such Swing Loan, Loan the Dollar Equivalent of the aggregate Revolving Credit Outstandings would exceed the Maximum CreditRevolving Credit Commitments in effect at such time. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen ten days after of its making or, if sooner, upon any Dollar/ Euro Revolving Credit Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a).

Appears in 1 contract

Samples: Credit Agreement (Johnsondiversey Holdings Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, in its sole discretion, make, in Dollars, make loans (each, together with each a “"Swing Loan" as defined in and made under the Existing Credit Agreement, a "Swing Loan") otherwise available to the Borrower Borrowers under the Facility from time to time on any Business Day during the period from the date hereof Effective Date until the Revolving Credit Termination Date in an aggregate principal AMENDED AND RESTATED CREDIT AGREEMENT SUNTRON CORPORATION amount at any time outstanding (together with the aggregate outstanding principal amount of at any other Swing Loan made by the Swing Loan Lender hereunder) time not to exceed the Swing Loan Sublimit$10,000,000; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings Obligations would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen days after its making or, if sooner, upon any Revolving Credit Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a). Swing Loans shall be Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Suntron Corp)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, in its sole discretion, agrees to make, in Dollars, loans (each a “Swing Loan”) otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding in an aggregate amount (together with the aggregate outstanding principal amount of any other Swing Loan) not to exceed the Swing Line Sublimit; provided, however, that to the extent that, after giving effect to such Swing Loan, the aggregate outstanding principal amount of such Swing Loan and any other Loan made by the Swing Loan Lender hereunder) not to hereunder in its capacity as a Lender or the Swing Loan Lender would exceed the Swing Loan Sublimit; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization Lender’s Ratable Portion of the Revolving Credit Commitment of the Available Credit, such Swing Loan Lender (unless otherwise agreed in writing shall by made by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) in its sole discretion; provided, further, that at no time shall the Swing Loan Lender make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum CreditCommitments in effect at such time. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a).

Appears in 1 contract

Samples: Credit Agreement (Orbital Sciences Corp /De/)

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Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, in its sole discretion, agrees to make, in Dollars, loans (each a “Swing Loan”) otherwise available to the Borrower Xerium under the Facility Initial Revolving Commitments from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date Commitment Period in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan made by the Swing Loan Lender hereunder) not to exceed the Swing Loan Sublimit; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Total Utilization of Revolving Credit Outstandings Commitments would exceed the Maximum CreditRevolving Commitments then in effect. Each Swing Loan shall be a Base Rate an ABR Loan and must be repaid in full within fifteen days five (5) Business Days after its making or, if sooner, upon any Borrowing borrowing of Revolving Loans hereunder (it being understood that in any event, such Swing Loan shall be automatically deemed a borrowing of Revolving Loans at the end of such five (5) Business Day period unless a cash repayment in full was made during such period), and shall in any event mature no later than the Revolving Credit Commitment Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Xerium Technologies Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, discretion make loans (each a “Swing Loan”"SWING LOAN") otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan loans made by the Swing Loan Lender hereunderhereunder in its capacity as a Lender or the Swing Loan Lender) at any time not to exceed the lesser of $20,000,000 and the Swing Loan SublimitLender's Ratable Portion of the Available Credit at such time; providedPROVIDED, howeverHOWEVER, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after of its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), Section 2.3(a) amounts of Swing Loans repaid may be reborrowed under this clause (aSection 2.3(a).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the each Swing Loan Lender may, in its sole discretion, make, make loans denominated in Dollars, loans Dollars (each a “Swing Loan”) otherwise available to the Borrower Company under the Revolving Credit Facility from time to time on any Business Day during the period from the date hereof Closing Date until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan Loans made by the such Swing Loan Lender hereunderhereunder in its capacity as Lender or Swing Loan Lender) not to exceed the lesser of such Swing Loan SublimitLender’s Ratable Portion of the Available Credit under the Revolving Credit Facility and such Swing Loan Lenders’ Swing Loan Allocation and, together with the aggregate outstanding principal amount of all Swing Loans outstanding, not to exceed $30,000,000; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan at any time to the extent that, after giving effect to such Swing Loan, Loan the Dollar Equivalent of the aggregate Revolving Credit Outstandings would exceed the Maximum CreditRevolving Credit Commitments in effect at such time. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen ten days after of its making or, if sooner, upon any Revolving Credit Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a).

Appears in 1 contract

Samples: Credit Agreement (Johnsondiversey Holdings Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, discretion make loans (each each, a “Swing Loan”) otherwise available to the Borrower under the Revolving Credit Facility from time to time on any Business Day during the period from the date hereof Effective Date until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of at any other Swing Loan made by the Swing Loan Lender hereunder) time not to exceed the lesser of (i) $5,000,000 and (ii) the Swing Loan SublimitLender’s Ratable Portion of the amount by which the Maximum Credit exceeds the Revolving Credit Outstandings at such time; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the no Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender make any Swing Loan to the extent may be made that, after giving effect thereto, would result in a Borrowing Base Deficiency. The Swing Loan Lender shall be entitled to such Swing Loan, rely on the aggregate Revolving Credit Outstandings would exceed most recent Borrowing Base Certificate delivered to the Maximum CreditAdministrative Agent. Each Swing Loan shall be a Base Rate Loan and must (subject to Sections 2.6 and 2.9) shall be repaid in full within fifteen days after its making or, if sooner, upon any Borrowing hereunder and shall of a Revolving Loan or from time to time at the discretion of the Swing Loan Lender but in any event mature no later than the Revolving Credit Scheduled Termination Date. Within the limits set forth in the first sentence of this clause (aSection 2.3(a), amounts of Swing Loans repaid may be reborrowed under this clause (aSection 2.3(a).

Appears in 1 contract

Samples: Credit Agreement (Terra Industries Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, discretion make loans (each a “Swing Loan”) otherwise available to the Borrower Borrowers under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan loans made by the Swing Loan Lender hereunderhereunder in its capacity as a Lender or the Swing Loan Lender) at any time not to exceed the lesser of $20,000,000 and the Swing Loan SublimitLender’s Ratable Portion of the Available Credit at such time; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after of its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), Section 2.3(a) amounts of Swing Loans repaid may be reborrowed under this clause (aSection 2.3(a).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, may in its sole discretion, make, in Dollars, discretion make loans (each a "Swing Loan") otherwise available to the Borrower under the Facility from time to time on any Business Day during the period from the date hereof until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of any other Swing Loan loans made by the Swing Loan Lender hereunderhereunder in its capacity as a Lender or the Swing Loan Lender) at any time not to exceed the lesser of $20,000,000 and the Swing Loan SublimitLender's Ratable Portion of the Available Credit at such time; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen seven days after of its making or, if sooner, upon any Borrowing hereunder and shall in any event mature no later than the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), Section 2.3(a) amounts of Swing Loans repaid may be reborrowed under this clause (aSection 2.3(a).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Swing Loans. (a) On the terms and subject to the conditions contained in this Agreement, the Swing Loan Lender may, in its sole discretion, make, in Dollars, make loans (each, together with each “Swing Loan” as defined in and made under the Existing Credit Agreement, a “Swing Loan”) otherwise available to the Borrower Borrowers under the Facility from time to time on any Business Day during the period from the date hereof Effective Date until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding (together with the aggregate outstanding principal amount of at any other Swing Loan made by the Swing Loan Lender hereunder) time not to exceed the Swing Loan Sublimit$10,000,000; provided, however, that (i) the outstanding principal amount of Swing Loans equal to the amount by which the aggregate outstanding principal amount of Swing Loans exceeds $25,000,000 shall be deemed a utilization of the Revolving Credit Commitment of the Swing Loan Lender (unless otherwise agreed in writing by the Swing Loan Lender and prompt notice of such agreement is given to the Administrative Agent) and (ii) at no time shall the Swing Loan Lender not make any Swing Loan to the extent that, after giving effect to such Swing Loan, the aggregate Revolving Credit Outstandings would exceed the Maximum Credit. The Swing Loan Lender shall be entitled to rely on the most recent Borrowing Base Certificate delivered to the Administrative Agent. Each Swing Loan shall be a Base Rate Loan and must be repaid in full within fifteen days after its making or, if sooner, upon any Revolving Credit Borrowing hereunder and shall in any event mature no later than than, (i) the 15th day after the date such Swing Loan is made or (ii) the Revolving Credit Termination Date. Within the limits set forth in the first sentence of this clause (a), amounts of Swing Loans repaid may be reborrowed under this clause (a). Swing Loans shall be Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Suntron Corp)

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