Common use of Refunding Loans Clause in Contracts

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 7 contracts

Samples: Credit Agreement (Penford Corp), Credit Agreement (CTS Corp), Credit Agreement (Excelligence Learning Corp)

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Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s 's Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s 's principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 2 contracts

Samples: Credit Agreement (Plexus Corp), Credit Agreement (Rent Way Inc)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j9.1(l) or 9.1(k9.1(m) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 2 contracts

Samples: Credit Agreement (Kimball Hill, Inc.), Credit Agreement (National Credit & Guaranty CORP)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s 's Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j8.1(i) or 9.1(k8.1(j) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s 's principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 2 contracts

Samples: Credit Agreement (Hewitt Associates Inc), Credit Agreement (Hewitt Associates Inc)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent Swing Line Lender to act on its behalf for such purpose) and with notice to the BorrowerBorrower and Administrative Agent, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j8.1(j) or 9.1(k8.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to Administrative Agent for the Administrative Agentaccount of the Swing Line Lender), in immediately available funds, at the Administrative Agent’s principal office in Chicago, IllinoisIllinois (or such other location designated by Administrative Agent), before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Administrative Agent shall promptly remit the proceeds of such Borrowing of Revolving Loans shall be immediately applied to the Swing Line Lender to repay the outstanding Swing Loans.. (e)

Appears in 2 contracts

Samples: Credit Agreement (Sterling Infrastructure, Inc.), Credit Agreement (Sterling Construction Co Inc)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower Company (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the BorrowerCompany, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver 's Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the BorrowerCompany, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s 's principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Amcol International Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower Company (which hereby irrevocably authorizes the Administrative Agent Swing Line Lender to act on its behalf for such purpose) and with notice to the BorrowerCompany and the Administrative Agent, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the BorrowerCompany, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentAgent for the account of the Swing Line Lender, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Amcol International Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower Company (which hereby irrevocably authorizes the Administrative Agent Swing Line Lender to act on its behalf for such purpose) and with notice to the BorrowerAgent and the Company, request each Lender to make a Revolving Loan in the form of a Base Domestic Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j8.1(k) or 9.1(k8.1(l) exists with respect to the BorrowerCompany, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentAgent (for the account of the Swing Line Lender), in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Emcor Group Inc)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent at the direction of the Swing Bank may at any time, on behalf of the Borrower Company (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the BorrowerCompany, request each Lender Bank to make a Revolving Credit Loan in the form of a Base Domestic Rate Loan in an amount equal to such LenderBank’s Revolver Commitment Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j8.1(i) or 9.1(k8.1(j) exists with respect to the any Borrower, regardless of the existence of any other Event of Default, each Lender Bank shall make the proceeds of its requested Revolving Credit Loan available to the Administrative AgentAgent for the benefit of the Swing Bank, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Agent shall promptly remit the proceeds of such Borrowing borrowing of Revolving Credit Loans shall to the Swing Bank to be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Secured Credit Agreement (Pilgrims Pride Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon 2:00 p.m. (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Unified Western Grocers Inc)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Lender may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent Swing Lender to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentSwing Lender, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Administrative Agent shall promptly remit the proceeds of such Borrowing of Revolving Loans shall be immediately applied to the Swing Lender to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Plexus Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent Swing Line Lender to act on its behalf for such purpose) and with notice to the BorrowerBorrower and the Administrative Agent, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver 's Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentAgent for the account of the Swing Line Lender), in immediately available funds, at the Administrative Agent’s principal 's office in Chicago, IllinoisIllinois (or such other location designated by the Administrative Agent), before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Administrative Agent shall promptly remit the proceeds of such Borrowing of Revolving Loans shall be immediately applied to the Swing Line Lender to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (International Assets Holding Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j8.1(j) or 9.1(k8.1(k) exists with respect to the Borrower, regardless of the existence of eof any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Usfreightways Corp)

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Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower Borrowers (which hereby irrevocably authorizes authorize the Administrative Agent to act on its their behalf for such purpose) and with notice to the BorrowerBorrowers, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s 's Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the applicable Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s 's principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Lender may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent Swing Lender to act on its behalf for such purpose) and with notice to the Borrower, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentSwing Lender, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Administrative Agent shall promptly remit the proceeds of such Borrowing of Revolving Loans shall be immediately applied to the Swing Lender to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Plexus Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower Borrowers (which hereby irrevocably authorizes authorize the Administrative Agent to act on its their behalf for such purpose) and with notice to the BorrowerBorrowers, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the applicable Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Rc2 Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent Swing Line Lender to act on its behalf for such purpose) and with notice to the BorrowerBorrower and Administrative Agent, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j8.1(j) or 9.1(k8.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to Administrative Agent for the Administrative Agentaccount of the Swing Line Lender), in immediately available funds, at the Administrative Agent’s principal office in Chicago, IllinoisIllinois (or such other location designated by Administrative Agent), before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Administrative Agent shall promptly remit the proceeds of such Borrowing of Revolving Loans shall be immediately applied to the Swing Line Lender to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Sterling Construction Co Inc)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent Swing Line Lender to act on its behalf for such purpose) and with notice to the BorrowerBorrower and the Administrative Agent, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentAgent for the account of the Swing Line Lender), in immediately available funds, at the Administrative Agent’s principal office in Chicago, IllinoisIllinois (or such other location designated by the Administrative Agent), before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Administrative Agent shall promptly remit the proceeds of such Borrowing of Revolving Loans shall be immediately applied to the Swing Line Lender to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (FCStone Group, Inc.)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent may at any time, on behalf of the Borrower Borrowers (which hereby irrevocably authorizes authorize the Administrative Agent to act on its their behalf for such purpose) and with notice to the BorrowerBorrowers, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver 's Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the applicable Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative Agent, in immediately available funds, at the Administrative Agent’s 's principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower Borrowers (which and the Borrowers hereby irrevocably authorizes authorize the Administrative Agent Swing Line Lender to act on its their behalf for such purpose) and with notice to the BorrowerCompany, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such Lender’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j10.1(k) or 9.1(k(l) exists with respect to the BorrowerCompany, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentSwing Line Lender, in immediately available funds, at the Administrative AgentSwing Line Lender’s principal office in Chicago, Illinois, before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The proceeds of such Borrowing of Revolving Loans shall be immediately applied to repay the such outstanding Swing Loans.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Gallagher Arthur J & Co)

Refunding Loans. In its sole and absolute discretion, the Administrative Agent Swing Line Lender may at any time, on behalf of the Borrower (which hereby irrevocably authorizes the Administrative Agent Swing Line Lender to act on its behalf for such purpose) and with notice to the BorrowerBorrower and the Administrative Agent, request each Lender to make a Revolving Loan in the form of a Base Rate Loan in an amount equal to such LenderXxxxxx’s Revolver Percentage of the amount of the Swing Loans outstanding on the date such notice is given. Unless an Event of Default described in Section 9.1(j) or 9.1(k) exists with respect to the Borrower, regardless of the existence of any other Event of Default, each Lender shall make the proceeds of its requested Revolving Loan available to the Administrative AgentAgent for the account of the Swing Line Lender), in immediately available funds, at the Administrative Agent’s principal office in Chicago, IllinoisIllinois (or such other location designated by the Administrative Agent), before 12:00 Noon (Chicago time) on the Business Day following the day such notice is given. The Administrative Agent shall promptly remit the proceeds of such Borrowing of Revolving Loans shall be immediately applied to the Swing Line Lender to repay the outstanding Swing Loans.

Appears in 1 contract

Samples: Credit Agreement (StoneX Group Inc.)

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