Common use of Foreign Swingline Loans Clause in Contracts

Foreign Swingline Loans. Subject to the terms and conditions set forth herein and in reliance upon the agreements of the other Foreign Currency Lenders set forth in this Section 3.3, each Foreign Swingline Lender shall make revolving credit loans requested by to the applicable Foreign Swingline Borrower(s) and in the currency(ies) set forth in the applicable Foreign Swingline Facility Notice (each a “Foreign Swingline Loan” and, collectively, the “Foreign Swingline Loans”) from time to time from the effective date of the applicable Foreign Swingline Facility until the Maturity Date in an aggregate amount not to exceed at any time outstanding the amount of the applicable Foreign Swingline Sublimit, notwithstanding the fact that such Foreign Swingline Loans, when aggregated with the Applicable Percentage of the outstanding principal amount of Foreign Currency Loans of the Foreign Currency Lender acting as such Foreign Swingline Lender, may exceed the amount of such Foreign Currency Lender’s Foreign Currency Commitment, unless (x) any Foreign Currency Lender at such time is a Defaulting Lender and (y) such Foreign Swingline Lender has not entered into arrangements reasonably satisfactory to it with Airgas or such Defaulting Lender to eliminate such Foreign Swingline Lender’s Fronting Exposure with respect to such Defaulting Lender (including by operation of Section 4.16(a)(iv)), in which case each Foreign Swingline Lender may in its discretion, make such Foreign Swingline Loans; provided, however, (i) the aggregate principal amount of Foreign Swingline Loans outstanding at any time shall not exceed the Foreign Swingline Sublimit for the applicable Foreign Swingline Facility, and (ii) the aggregate principal amount of all outstanding Foreign Currency Loans plus the Foreign Swingline Facility Reserve shall not exceed the Foreign Currency Committed Amount. Foreign Swingline Loans may be repaid and reborrowed in accordance with the provisions hereof.

Foreign Swingline Loans. Subject Each Foreign Swingline Borrowing shall be made in Dollars and Alternative Currencies upon the Foreign Borrower’s irrevocable notice to the Foreign Swingline Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received by the Foreign Swingline Lender and the Administrative Agent not later than 12:00 noon (Copenhagen time) on the requested borrowing date, and shall specify (A) the currency and amount to be borrowed, which shall be a minimum of the Dollar Equivalent of $100,000, and (B) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed promptly by delivery to the Foreign Swingline Lender and the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of a Foreign Borrower. Promptly after receipt by the Foreign Swingline Lender of any telephonic Loan Notice, the Foreign Swingline Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Loan Notice and, if not, the Foreign Swingline Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Foreign Swingline Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Foreign Revolving Lender) prior to 1:00 p.m. (Copenhagen time) on the date of the proposed Foreign Swingline Borrowing (1) directing the Foreign Swingline Lender not to make such Foreign Swingline Loan as a result of the limitations set forth in this Article II, or (2) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions set forth herein and in reliance upon hereof, the agreements of the other Foreign Currency Lenders set forth in this Section 3.3, each Foreign Swingline Lender shall will, not later than 2:30 p.m. (Copenhagen time) on the borrowing date specified in such Loan Notice, make revolving credit loans requested by to the applicable Foreign Swingline Borrower(s) and in the currency(ies) set forth in the applicable Foreign Swingline Facility Notice (each a “Foreign Swingline Loan” and, collectively, the “Foreign Swingline Loans”) from time to time from the effective date of the applicable Foreign Swingline Facility until the Maturity Date in an aggregate amount not to exceed at any time outstanding the amount of the applicable its Foreign Swingline Sublimit, notwithstanding Loan available to the fact that such Foreign Swingline Loans, when aggregated with Borrowers at its office by crediting the Applicable Percentage of the outstanding principal amount of Foreign Currency Loans account of the Foreign Currency Lender acting as such Foreign Swingline Lender, may exceed Borrowers on the amount books of such Foreign Currency Lender’s Foreign Currency Commitment, unless (x) any Foreign Currency Lender at such time is a Defaulting Lender and (y) such the Foreign Swingline Lender has not entered into arrangements reasonably satisfactory to it with Airgas or such Defaulting Lender to eliminate such Foreign Swingline Lender’s Fronting Exposure with respect to such Defaulting Lender (including by operation of Section 4.16(a)(iv)), in which case each Foreign Swingline Lender may in its discretion, make such Foreign Swingline Loans; provided, however, (i) the aggregate principal amount of Foreign Swingline Loans outstanding at any time shall not exceed the Foreign Swingline Sublimit for the applicable Foreign Swingline Facility, and (ii) the aggregate principal amount of all outstanding Foreign Currency Loans plus the Foreign Swingline Facility Reserve shall not exceed the Foreign Currency Committed Amount. Foreign Swingline Loans may be repaid and reborrowed in accordance with the provisions hereofimmediately available funds.

Foreign Swingline Loans. Subject to During the terms and conditions set forth herein and Commitment Period, the Foreign Swingline Lender agrees, in reliance upon the agreements commitments of the other Foreign Currency Revolving Lenders set forth in this Section 3.3herein, each Foreign Swingline Lender shall to make revolving credit loans requested by to the applicable Foreign Swingline Borrower(s) and in the currency(ies) set forth in the applicable Foreign Swingline Facility Notice (each a “Foreign Swingline Loan” and, collectively, the “Foreign Swingline Loans”) from time to time from the effective date Foreign Borrowers in Dollars or Alternative Currencies on any Business Day; provided that (i) the Outstanding Amount of the applicable Foreign Swingline Facility until Loans shall not exceed TWENTY MILLION DOLLARS ($20,000,000) (as such amount may be decreased in accordance with the Maturity Date in an aggregate amount not to exceed at any time outstanding provisions hereof, the amount of the applicable “Foreign Swingline Sublimit”), notwithstanding the fact that such Foreign Swingline Loans, when aggregated with the Applicable Percentage of the outstanding principal amount of Foreign Currency Loans of the Foreign Currency Lender acting as such Foreign Swingline Lender, may exceed the amount of such Foreign Currency Lender’s Foreign Currency Commitment, unless (xii) any Foreign Currency Lender at such time is a Defaulting Lender and (y) such Foreign Swingline Lender has not entered into arrangements reasonably satisfactory to it with Airgas or such Defaulting Lender to eliminate such Foreign Swingline Lender’s Fronting Exposure with respect to such Defaulting Lender (including by operation of Section 4.16(a)(iv))each Designated Borrower, in which case each Foreign Swingline Lender may in its discretion, make such Foreign Swingline Loans; provided, however, (i) the aggregate principal amount of Foreign Swingline Loans outstanding at any time Revolving Obligations owing by such Designated Borrower shall not exceed its Designated Borrowing Limit and (iii) with respect to the Foreign Revolving Lenders collectively, the Outstanding Amount of Foreign Revolving Obligations shall not exceed the Aggregate Foreign Swingline Sublimit for the applicable Foreign Swingline Facility, and (ii) the aggregate principal amount of all outstanding Foreign Currency Loans plus the Foreign Swingline Facility Reserve shall not exceed the Foreign Currency Revolving Committed Amount. Foreign Swingline Loans shall bear an interest rate corresponding to N Bor (or such other rate as may be mutually agreed between the Foreign Swingline Lender and the Foreign Borrowers) and may be repaid and reborrowed in accordance with the provisions hereof. Immediately upon the making of a Foreign Swingline Loan, each Foreign Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Foreign Swingline Lender a participation interest in such Foreign Swingline Loan in an amount equal to the product of such Lender’s Foreign Revolving Commitment Percentage thereof; provided that the participation interest shall not be funded except on demand as provided in Section 2.04(b)(ii).

Foreign Swingline Loans. Subject to During the terms and conditions set forth herein and Commitment Period, the Foreign Swingline Lender agrees, in reliance upon the agreements commitments of the other Foreign Currency Revolving Lenders set forth in this Section 3.3herein, each Foreign Swingline Lender shall to make revolving credit loans requested by to the applicable Foreign Swingline Borrower(s) and in the currency(ies) set forth in the applicable Foreign Swingline Facility Notice (each a “Foreign Swingline Loan” and, collectively, the “Foreign Swingline Loans”) from time to time from the effective date of the applicable Foreign Swingline Facility until the Maturity Date in an aggregate amount not to exceed at any time outstanding the amount of the applicable Foreign Swingline Sublimit, notwithstanding the fact that such Foreign Swingline Loans, when aggregated with the Applicable Percentage of the outstanding principal amount of Foreign Currency Loans of the Foreign Currency Lender acting as such Foreign Swingline Lender, may exceed the amount of such Foreign Currency Lender’s Foreign Currency Commitment, unless (x) Borrowers in Dollars or Alternative Currencies on any Foreign Currency Lender at such time is a Defaulting Lender and (y) such Foreign Swingline Lender has not entered into arrangements reasonably satisfactory to it with Airgas or such Defaulting Lender to eliminate such Foreign Swingline Lender’s Fronting Exposure with respect to such Defaulting Lender (including by operation of Section 4.16(a)(iv)), in which case each Foreign Swingline Lender may in its discretion, make such Foreign Swingline LoansBusiness Day; provided, however, provided that (i) the aggregate principal amount Outstanding Amount of Foreign Swingline Loans outstanding at any time shall not exceed TWENTY-FIVE MILLION DOLLARS ($25,000,000) (as such amount may be decreased in accordance with the provisions hereof, the “Foreign Swingline Sublimit”), (ii) with respect to each Designated Borrower, the Outstanding Amount of all Foreign Revolving Obligations of such Designated Borrower shall not exceed its Designated Borrower Limit, and (iii) with respect to the Foreign Revolving Lenders collectively, the Outstanding Amount of Foreign Revolving Obligations shall not exceed the Aggregate Foreign Swingline Sublimit for the applicable Foreign Swingline Facility, and (ii) the aggregate principal amount of all outstanding Foreign Currency Loans plus the Foreign Swingline Facility Reserve shall not exceed the Foreign Currency Revolving Committed Amount. Foreign Swingline Loans shall bear an interest rate corresponding to N Bor (or such other rate as may be mutually agreed between the Foreign Swingline Lender and the Foreign Borrowers) and may be repaid and reborrowed in accordance with the provisions hereof. Immediately upon the making of a Foreign Swingline Loan, each Foreign Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Foreign Swingline Lender a participation interest in such Foreign Swingline Loan in an amount equal to the product of such Lender’s Foreign Revolving Commitment Percentage thereof; provided that the participation interest shall not be funded except on demand as provided in Section 2.04(b)(ii).

Foreign Swingline Loans. Subject Each Foreign Swingline Borrowing shall be made in Dollars and Alternative Currencies upon a Foreign Borrower’s irrevocable notice to the Foreign Swingline Lender and the Foreign Administrative Agent (and also to the Domestic Administrative Agent), which may be given by telephone. Each such notice must be received by the Foreign Swingline Lender and the Foreign Administrative Agent not later than 12:00 noon (Copenhagen time) on the requested borrowing date, and shall specify (A) the currency and amount to be borrowed, which shall be a minimum of the Dollar Equivalent of $100,000, and (B) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed promptly by delivery to the Foreign Swingline Lender and the Foreign Administrative Agent (with a copy to the Domestic Administrative Agent) of a written Loan Notice, appropriately completed and signed by a Responsible Officer of a Foreign Borrower. Promptly after receipt by the Foreign Swingline Lender of any telephonic Loan Notice, the Foreign Swingline Lender will confirm with the Foreign Administrative Agent (by telephone or in writing) that the Foreign Administrative Agent has also received such Loan Notice and, if not, the Foreign Swingline Lender will notify the Foreign Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Foreign Swingline Lender has received notice (by telephone or in writing) from the Foreign Administrative Agent (including at the request of any Foreign Revolving Lender) prior to 1:00 p.m. (Copenhagen time) on the date of the proposed Foreign Swingline Borrowing (1) directing the Foreign Swingline Lender not to make such Foreign Swingline Loan as a result of the limitations set forth in this Article II, or (2) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions set forth herein and in reliance upon hereof, the agreements of the other Foreign Currency Lenders set forth in this Section 3.3, each Foreign Swingline Lender shall will, not later than 2:30 p.m. (Copenhagen time) on the borrowing date specified in such Loan Notice, make revolving credit loans requested by to the applicable Foreign Swingline Borrower(s) and in the currency(ies) set forth in the applicable Foreign Swingline Facility Notice (each a “Foreign Swingline Loan” and, collectively, the “Foreign Swingline Loans”) from time to time from the effective date of the applicable Foreign Swingline Facility until the Maturity Date in an aggregate amount not to exceed at any time outstanding the amount of the applicable its Foreign Swingline Sublimit, notwithstanding Loan available to the fact that such Foreign Swingline Loans, when aggregated with Borrowers at its office by crediting the Applicable Percentage of the outstanding principal amount of Foreign Currency Loans account of the Foreign Currency Lender acting as such Foreign Swingline Lender, may exceed Borrowers on the amount books of such Foreign Currency Lender’s Foreign Currency Commitment, unless (x) any Foreign Currency Lender at such time is a Defaulting Lender and (y) such the Foreign Swingline Lender has not entered into arrangements reasonably satisfactory to it with Airgas or such Defaulting Lender to eliminate such Foreign Swingline Lender’s Fronting Exposure with respect to such Defaulting Lender (including by operation of Section 4.16(a)(iv)), in which case each Foreign Swingline Lender may in its discretion, make such Foreign Swingline Loans; provided, however, (i) the aggregate principal amount of Foreign Swingline Loans outstanding at any time shall not exceed the Foreign Swingline Sublimit for the applicable Foreign Swingline Facility, and (ii) the aggregate principal amount of all outstanding Foreign Currency Loans plus the Foreign Swingline Facility Reserve shall not exceed the Foreign Currency Committed Amount. Foreign Swingline Loans may be repaid and reborrowed in accordance with the provisions hereofimmediately available funds.