Common use of Canadian Swingline Loans Clause in Contracts

Canadian Swingline Loans. (a) The Swingline Lender agrees to make a portion of the credit otherwise available to the Canadian Borrower under the Canadian Commitments from time to time during the Commitment Period by making swing line loans (“Canadian Swingline Loans”) to the Canadian Borrower in an aggregate principal amount at any one time outstanding up to but not exceeding the amount of the Canadian Swingline Commitment (notwithstanding that the Canadian Swingline Loans outstanding at any time, when aggregated with the Canadian Swingline Lender’s other outstanding Revolving Loans, may exceed the Canadian Swingline Commitment then in effect), provided that in no event shall the aggregate outstanding principal amount of all C$ Loans and Canadian Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities under the Canadian Commitments outstanding, exceed the aggregate amount of the Canadian Commitments as in effect from time to time. During the Commitment Period, the Canadian Borrower may use the Canadian Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Canadian Swingline Loans shall be either Eurocurrency Loans, Canadian Prime Rate Loans or Agreed Rate Loans and the Interest Period with respect to such Eurocurrency Loans, Canadian Prime Rate Loans or Agreed Rate Loans shall be as agreed upon by the Canadian Swingline Lender. For purposes of calculating the commitment fee payable in respect of the Canadian Commitments under Section 2.03 of the Credit Agreement, the Canadian Swingline Loans shall not be treated as usage of the Canadian Commitments. Canadian Swingline Loans shall be denominated only in Canadian Dollars.

Appears in 2 contracts

Samples: Credit Agreement (Iron Mountain Inc), Subsidiary Pledge Agreement (Iron Mountain Inc)

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Canadian Swingline Loans. (a) The Swingline Lender agrees to make a portion of the credit otherwise available to the Canadian Borrower Borrowers under the Canadian Commitments from time to time during the Commitment Period by making swing line loans (“Canadian Swingline Loans”) to the Canadian Borrower Borrowers in an aggregate principal amount at any one time outstanding up to but not exceeding the amount of the Canadian Swingline Commitment (notwithstanding that the Canadian Swingline Loans outstanding at any time, when aggregated with the Canadian Swingline Lender’s other outstanding Revolving Loans, may exceed the Canadian Swingline Commitment then in effect), provided that in no event shall the aggregate outstanding principal amount of all C$ Loans and Canadian Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities Liabilities, in each case, under the Canadian Commitments outstanding, exceed the aggregate amount of the Canadian Commitments as in effect from time to time. During the Commitment Period, the Canadian Borrower Borrowers may use the Canadian Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Canadian Swingline Loans shall be either Eurocurrency Loans, Canadian C$ Prime Rate Loans or Agreed Rate Loans and the Interest Period with respect to such Eurocurrency Loans, Canadian Prime Rate Loans or Agreed Rate Loans shall be as agreed upon by the Canadian Swingline Lender. For purposes of calculating the commitment fee payable in respect of the Canadian Commitments under Section 2.03 of the Credit Agreement, the Canadian Swingline Loans shall not be treated as usage of the Canadian Commitments. Canadian Swingline Loans shall be denominated only in Canadian Dollars.Agreed

Appears in 1 contract

Samples: Credit Agreement (Iron Mountain Inc)

Canadian Swingline Loans. (a) The Swingline Lender agrees to make a portion of the credit otherwise available to the Canadian Borrower Borrowers under the Canadian Commitments from time to time during the Commitment Period by making swing line loans (“Canadian Swingline Loans”) to the Canadian Borrower Borrowers in an aggregate principal amount at any one time outstanding up to but not exceeding the amount of the Canadian Swingline Commitment (notwithstanding that the Canadian Swingline Loans outstanding at any time, when aggregated with the Canadian Swingline Lender’s other outstanding Revolving Loans, may exceed the Canadian Swingline Commitment then in effect), provided that in no event shall the aggregate outstanding principal amount of all C$ Loans and Canadian Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities Liabilities, in each case, under the Canadian Commitments outstanding, exceed the aggregate amount of the Canadian Commitments as in effect from time to time. During the Commitment Period, the Canadian Borrower Borrowers may use the Canadian Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Canadian Swingline Loans shall be either Eurocurrency Loans, Canadian C$ Prime Rate Loans or Agreed Rate Loans and the Interest Period with respect to such Eurocurrency Loans, Canadian Prime Rate Loans or Agreed Rate Loans shall be as agreed upon by the Canadian Swingline Lender. For purposes of calculating the commitment fee payable in respect of the Canadian Commitments under Section 2.03 of the Credit Agreement, the Canadian Swingline Loans shall not be treated as usage of the Canadian Commitments. Canadian Swingline Loans shall be denominated only in Canadian Dollars.

Appears in 1 contract

Samples: Credit Agreement (Iron Mountain Inc)

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Canadian Swingline Loans. (a) The Swingline Lender agrees to make a portion of the credit otherwise available to the Canadian Borrower under the Canadian Commitments from time to time during the Commitment Period by making swing line loans (“Canadian Swingline Loans”) to the Canadian Borrower in an aggregate principal amount at any one time outstanding up to but not exceeding the amount of the Canadian Swingline Commitment (notwithstanding that the Canadian Swingline Loans outstanding at any time, when aggregated with the Canadian Swingline Lender’s other outstanding Revolving Loans, may exceed the Canadian Swingline Commitment then in effect), provided that in no event shall the aggregate outstanding principal amount of all C$ Loans and Canadian Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities Liabilities, in each case, under the Canadian Commitments outstanding, exceed the aggregate amount of the Canadian Commitments as in effect from time to time. During the Commitment Period, the Canadian Borrower may use the Canadian Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Canadian Swingline Loans shall be either Eurocurrency Loans, Canadian Prime Rate Loans or Agreed Rate Loans and the Interest Period with respect to such Eurocurrency Loans, Canadian Prime Rate Loans or Agreed Rate Loans shall be as agreed upon by the Canadian Swingline Lender. For purposes of calculating the commitment fee payable in respect of the Canadian Commitments under Section 2.03 of the Credit Agreement, the Canadian Swingline Loans shall not be treated as usage of the Canadian Commitments. Canadian Swingline Loans shall be denominated only in Canadian Dollars.

Appears in 1 contract

Samples: Credit Agreement (Iron Mountain Inc)

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