Common use of Procedure for Swing Line Borrowing; Refunding of Swing Line Loans Clause in Contracts

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period; provided that the Borrowers shall give the Swing Line Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swing Line Lender not later than 2:00 p.m. on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 4:00 p.m. on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Administrative Agent’s Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers on such Borrowing Date in like funds as received by the Administrative Agent.

Appears in 7 contracts

Samples: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)

AutoNDA by SimpleDocs

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers may borrow under Whenever such Borrower desires that the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period; provided that the Borrowers Bank make Swing Line Loans it shall give the Swing Line Lender Bank irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swing Line Lender Bank not later than 2:00 p.m. 11:00 A.M. on a Business Day on the proposed Borrowing Dateborrowing date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Dateborrowing date (which shall be a Business Day during the Commitment Period). Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 250,000 or a whole multiple of $100,000 250,000 in excess thereof. Not later than 4:00 p.m. 1:00 P.M. on a Business Day on the Borrowing Date borrowing date specified in the borrowing a notice in respect of any Swing Line LoanLoans, the Swing Line Lender Bank shall make available to the Administrative Agent Agent, at the address set forth opposite the Administrative Agent’s Office 's name on the signature page hereof or at such account in London as the Administrative Agent shall specify to such Borrower and the Banks, an amount in immediately available funds equal to the amount of such the Swing Line LoanLoan to be made by the Swing Line Bank. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers such Borrower on such Borrowing Date borrowing date in like funds as received by the Administrative Agentimmediately available funds.

Appears in 1 contract

Samples: Credit Agreement (Eplus Inc)

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers Borrower may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period; , provided that the Borrowers Borrower shall give the Swing Line Lender irrevocable telephonic written notice confirmed promptly in writing (which telephonic written notice must be received by the Swing Line Lender not later than 2:00 p.m. P.M., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 4:00 p.m. 3:00 P.M., New York City time, on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Administrative Agent’s Funding Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers Borrower on such Borrowing Date in like funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Hanger Orthopedic Group Inc)

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers Borrower may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period; provided that , provided, the Borrowers Borrower shall give the Swing Line Lender irrevocable telephonic written notice confirmed promptly in writing (which telephonic written notice must be received by the Swing Line Lender not later than 2:00 p.m. 1:00 P.M., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 4:00 p.m. 3:00 P.M., New York City time, on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Administrative Agent’s Funding Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers Borrower on such Borrowing Date in like funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Gentiva Health Services Inc)

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers Borrower may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period; provided that , provided, the Borrowers Borrower shall give the Swing Line Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swing Line Lender not later than 2:00 p.m. 11:00 A.M., Pacific time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 4:00 p.m. 3:00 P.M., Pacific time, on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Administrative Agent’s Funding Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers Borrower on such Borrowing Date in like funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Symetra Financial CORP)

AutoNDA by SimpleDocs

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period; provided that the Borrowers shall give the Swing Line Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swing Line Lender not later than 2:00 p.m. on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 4:00 p.m. on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Administrative Agent’s 's Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers on such Borrowing Date in like funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Leslie's, Inc.)

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers Borrower may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period; provided that , provided, the Borrowers Borrower shall give the Swing Line Lender irrevocable telephonic written notice confirmed promptly in writing (which telephonic written notice must be received by the Swing Line Lender not later than 2:00 p.m. 1:00 p.m., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 4:00 p.m. 3:00 p.m., New York City time, on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Administrative Agent’s Funding Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers Borrower on such Borrowing Date in like funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers US Borrower may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit US Dollar RCF Commitment Period; provided that , provided, the Borrowers US Borrower shall give the Swing Line Lender irrevocable telephonic written notice confirmed promptly in writing (which telephonic written notice must be received by the Swing Line Lender not later than 2:00 p.m. 1:00 P.M., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 integrals in excess thereof. Not later than 4:00 p.m. 3:00 P.M., New York City time, on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Administrative Agent’s Funding Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrowers US Borrower on such Borrowing Date in like funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (LKQ Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.