Automatic Advance. (a) In the event that the Company does not repay a Swingline Advance in full on the last day of its Interest Period, on the Business Day immediately following such day, the Company shall, unless all the Lenders (including, for the avoidance of doubt, the Swingline Lenders) agree otherwise, be deemed to have served a Utilisation Request for an Advance (not being a Swingline Advance) in the amount and currency of such Swingline Advance and with an Interest Period of 1 week and such Advance shall be made in accordance with Clause 5.4 (Lenders’ participation) and the proceeds thereof applied in repayment of the said Swingline Advance.
Automatic Advance. (a) In the event that the Borrower does not repay a Swingline Advance in full on the last day of its Interest Period, on the Business Day immediately following such day, the Borrower shall be deemed to have served a Utilisation Request for an Advance (not being a Swingline Advance) in the amount and currency of such Swingline Advance and with an Interest Period of 1 week and such Advance shall be made in accordance with Clause 5.4 (Lenders’ participation) and the proceeds thereof applied in repayment of the said Swingline Advance.
Automatic Advance. If a supervisor or other Employer representative fails to hold a meeting or to respond to a grievance by the stated deadline, the grievance is automatically advanced to the next step.
Automatic Advance. (a) In the event that a Borrower does not repay a Swingline Advance made to it in full on the last day of its Interest Period, on the Business Day falling 3 Business Days prior to such day, that Borrower shall be deemed to have served a Utilisation Request for an Advance (not being a Swingline Advance) to be made on such day in the amount and currency of such Swingline Advance and with an Interest Period of 1 week and such Advance shall be made on such day in accordance with Clause 5.4 (Lenders’ participation) (for this purpose (i) ignoring the Available Commitment of any Defaulting Lender and (ii) calculating the Available Commitment of each Lender as if the outstanding Swingline Advance had been repaid in full), and the proceeds thereof applied in repayment of the said Swingline Advance.
