Common use of Loans or Revolving Loans Clause in Contracts

Loans or Revolving Loans. The Borrower hereby authorizes the Swing Loan Lender to make Swing Loans pursuant to Section 2.3(a) (Swing Loans) and the Revolving Credit Lenders to make Revolving Loans pursuant to Section 2.2(a) (Borrowing Procedures) from time to time in the Swing Loan Lender's or such Revolving Credit Lender's discretion, that are in the amounts of any and all principal due and payable with respect to the Swing Loans, interest, fees, expenses and other sums due and payable in respect of the Revolving Loans and any and all sums in respect of the Protective Advances, and further authorizes the First Lien Agent to give the Revolving Credit Lenders notice of any Borrowing with respect to such Swing Loans and Revolving Loans and to distribute the proceeds of such Swing Loans and Revolving Loans to pay such amounts. The Borrower agrees that all such Swing Loans and Revolving Loans so made shall be deemed to have been requested by it (irrespective of the satisfaction of the conditions in Section 3.2 (Conditions Precedent to Each Loan and Letter of Credit), which conditions the Revolving Credit Lenders irrevocably waive) and directs that all proceeds thereof shall be used to pay such amounts.

Appears in 1 contract

Samples: Credit Agreement (Hli Operating Co Inc)

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Loans or Revolving Loans. The Borrower hereby authorizes the Swing Loan Lender to make Swing Loans pursuant to Section 2.3(a) 2.3 (Swing Loans) and the Revolving Credit Lenders to make Revolving Loans pursuant to Section 2.2(a) 2.2 (Borrowing Procedures) (and each Lender hereby agrees to make, regardless of whether, after giving effect to such Revolving Loan, either the then effective aggregate Commitment or the Borrowing Base at such time exceeds the Maximum Credit in effect at such time), from time to time in the Swing Loan Lender's or such Revolving Credit Lender's, or, in the case of the Lenders, the Administrative Agent's discretion, Swing Loans or Revolving Loans, as applicable, that are in the amounts aggregate amount of any and all principal due and payable with respect to the Swing Loans, Loans and interest, fees, expenses and other sums due and payable in respect of the Revolving Loans, Swing Loans and any and all sums in respect of the Protective Advances, and further authorizes the First Lien Administrative Agent to give the Revolving Credit Lenders notice of any such Borrowing with respect to such Swing Loans and Revolving Loans and to distribute the proceeds of such Swing Loans and Revolving Loans to pay such amounts; provided, however, that the aggregate principal amount outstanding in respect of such Swing Loans and Revolving Loans for payments under this Section 2.13(g) shall not exceed five million Dollars ($5,000,000). The Borrower agrees that all such Swing Loans and Revolving Loans so made shall be deemed to have been requested by it (irrespective of the satisfaction of the conditions in Section 3.2 (Conditions Precedent to Each Loan and Letter of Credit), which conditions the Revolving Credit Lenders irrevocably waivewaive in respect of such Swing Loans and Revolving Loans) and directs that all proceeds thereof shall be used to pay such amounts.

Appears in 1 contract

Samples: Credit Agreement (National Steel Corp)

Loans or Revolving Loans. The Each Borrower hereby authorizes the Swing Loan Lender to make Swing Loans pursuant to Section 2.3(a) (Swing Loans) and the Revolving Credit Lenders to make Revolving Loans pursuant to Section 2.2(a) (Borrowing Procedures) from time to time in the Swing Loan Lender's or such Revolving Credit Lender's discretion, that are in the amounts of any and all principal due and payable with respect to the Swing Loans, Loans and interest, fees, expenses and other sums due and payable in respect of the AMENDED AND RESTATED CREDIT AGREEMENT SUNTRON CORPORATION Revolving Loans and any and all sums in respect of the Protective AdvancesLoans, and further authorizes the First Lien Administrative Agent to give the Revolving Credit Lenders notice of any Borrowing with respect to such Swing Loans and Revolving Loans and to distribute the proceeds of such Swing Loans and Revolving Loans to pay such amounts. The Each Borrower agrees that all such Swing Loans and Revolving Loans so made shall be deemed to have been requested by it (irrespective of the satisfaction of the conditions in Section 3.2 (Conditions Precedent to Each Loan and Letter of Credit), which conditions the Revolving Credit Lenders irrevocably waive) and directs that all proceeds thereof shall be used to pay such amounts.

Appears in 1 contract

Samples: Credit Agreement (Suntron Corp)

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Loans or Revolving Loans. The Borrower hereby authorizes the Swing Loan Lender to make Swing Loans pursuant to Section 2.3(a) (Swing Loans) and the Revolving Credit Lenders to make Revolving Loans pursuant to Section 2.2(a) (Borrowing Procedures) from time to time in the Swing Loan Lender's or such Revolving Credit Lender's discretion, that are in the amounts of any and all principal due and payable with respect to the Swing Loans, interest, fees, expenses and other sums due and payable in respect of the Revolving Loans and any and all sums in respect of the Protective Advances, and further authorizes the First Lien Administrative Agent to give the Revolving Credit Lenders notice of any Borrowing with respect to such Swing Loans and Revolving Loans and to distribute the proceeds of such Swing Loans and Revolving Loans to pay such amounts. The Borrower agrees that all such Swing Loans and Revolving Loans so made shall be deemed to have been requested by it (irrespective of the satisfaction of the conditions in Section 3.2 (Conditions Precedent to Each Loan and Letter of Credit), which conditions the Revolving Credit Lenders irrevocably waive) and directs that all proceeds thereof shall be used to pay such amounts.

Appears in 1 contract

Samples: Credit Agreement (Hayes Lemmerz International Inc)

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