Common use of Requests for Swing Loans Clause in Contracts

Requests for Swing Loans. The Company shall give the Agent prior notice (which may be written or oral), no later than 12:00 Noon (Chicago time) on the date upon which the Company requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender shall in its discretion quote an interest rate to the Company at which the Swing Line Lender would be willing to make such Swing Loan available to the Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Quoted Rate”). The Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company does not so immediately accept the Quoted Rate for the full amount requested by the Company for such Swing Loan, the Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company on the date so requested at the offices of the Agent in Chicago, Illinois.

Appears in 2 contracts

Samples: Credit Agreement (EMCOR Group, Inc.), Credit Agreement (Emcor Group Inc)

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Requests for Swing Loans. The Company Borrower shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago Cincinnati time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Agent’s Quoted Rate”). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Agent’s Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Agent’s Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility Credit to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Agent in ChicagoCincinnati, IllinoisOhio. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 2 contracts

Samples: Credit Agreement (American Pharmaceutical Partners Inc /De/), Credit Agreement (Abraxis BioScience, Inc.)

Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility Credit to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois. Anything contained in the foregoing to the contrary notwithstanding, (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 2 contracts

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

Requests for Swing Loans. The Company Borrower shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 thirty (30) minutes after receiving such notice, the Swing Line Lender Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Agent would be willing to make such Swing Loan available to the Company Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Agent's Quoted Rate"). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If , and if the Company Borrower does not so immediately accept the Agent's Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Eurodollar Loans under the U.S. Revolving Facility to the Base Federal Funds Rate as from time to time in effect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Agent in Chicago, IllinoisIllinois (or by wire transfer of funds pursuant to the Borrower's written instructions to the Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 2 contracts

Samples: Credit Agreement (Apac Teleservices Inc), Credit Agreement (Apac Teleservices Inc)

Requests for Swing Loans. The Company shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company requests that any Swing Loan be made, made of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender shall in its discretion quote an interest rate to the Company at which the Swing Line Lender would be willing to make such Swing Loan available to the Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Quoted Rate”). The Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company does not so immediately accept the Quoted Rate for the full amount requested by the Company for such Swing Loan, the Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Domestic Rate Loans under the U.S. Revolving Facility Credit to the Base Domestic Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company on the date so requested at the offices of the Agent in Chicago, Illinois.

Appears in 2 contracts

Samples: Credit Agreement (Emcor Group Inc), Credit Agreement (Emcor Group Inc)

Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If , and if the Company Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to the Base Rate as from time to time provided in effectSection 1.7(b)(i) above. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in Chicago, IllinoisIllinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 2 contracts

Samples: Credit Agreement (Lamson & Sessions Co), Credit Agreement (Lamson & Sessions Co)

Requests for Swing Loans. The Company Borrower shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon 2:00 p.m. (Chicago time) on the date upon which the Company Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 thirty (30) minutes after receiving such notice, the Swing Line Lender Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Agent would be willing to make such Swing Loan available to the Company Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Quoted Rate”"AGENT'S QUOTED RATE"). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If , and if the Company Borrower does not so immediately accept the Agent's Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to the Base Rate as from time to time in effect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Agent in Chicago, IllinoisIllinois (or by wire transfer of funds pursuant to the Borrower's written instructions to the Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Apac Customer Service Inc)

Requests for Swing Loans. The Company Borrower shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Agent’s Quoted Rate”). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Agent’s Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Agent’s Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding sum of the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to plus the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Agent in Chicago, Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Federal Signal Corp /De/)

Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility Credit to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Rent Way Inc)

Requests for Swing Loans. The Company shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Administrative Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender shall in its discretion quote an interest rate to the Company at which the Swing Line Lender would be willing to make such Swing Loan available to the Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as the “Quoted Rate”). The Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company does not so immediately accept the Quoted Rate for the full amount requested by the Company for such Swing Loan, the Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility Credit to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company on the date so requested at the offices of the Administrative Agent in Chicago, Illinois, by depositing such proceeds to the credit of the Company’s operating account maintained with the Administrative Agent or as the Company and the Administrative Agent may otherwise agree. Anything contained in the foregoing to the contrary notwithstanding, the undertaking of the Swing Line Lender to make Swing Loans shall be subject to all of the terms and conditions of this Agreement (provided that the Swing Line Lender shall be entitled to assume that the conditions precedent to an advance of any Swing Loan have been satisfied unless notified to the contrary by the Administrative Agent or the Required Lenders).

Appears in 1 contract

Samples: Credit Agreement (Amcol International Corp)

Requests for Swing Loans. The Company shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company requests that any Swing Loan be made, made of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender shall in its discretion quote an interest rate to the Company at which the Swing Line Lender would be willing to make such Swing Loan available to the Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Quoted Rate”). The Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company does not so immediately accept the Quoted Rate for the full amount requested by the Company for such Swing Loan, the Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Domestic Rate Loans under the U.S. Revolving Facility to the Base Domestic Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company on the date so requested at the offices of the Agent in Chicago, Illinois.

Appears in 1 contract

Samples: Credit Agreement (Emcor Group Inc)

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Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Administrative Agent’s Quoted Rate”). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Administrative Agent’s Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Administrative Agent’s Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility equal to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Usfreightways Corp)

Requests for Swing Loans. The Company Borrower shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, Loan and the Interest Period requested selected therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 thirty (30) minutes after receiving such notice, the Swing Line Lender Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Agent would be willing to make such Swing Loan available to the Company Borrower for the a given Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Agent's Quoted Rate"). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If , and if the Company Borrower does not so immediately accept the Agent's Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the a rate per annum determined by adding equal to the sum of the Base Rate as in effect from time to plus the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to the Base Rate as from time to time in effect. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Agent in Chicago, Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Diamond Home Services Inc)

Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon 2:00 p.m. (Chicago time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Quoted Rate”). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility Credit to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (CTS Corp)

Requests for Swing Loans. The Company shall give the Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (i) 11:30 a.m. (Chicago time) on the date upon which the Company requests that any Swing Loan bearing interest at the Quoted Rate be made, and (ii) 3:00 p.m. (Chicago time) on the date upon which the Company requests that any Swing Loan that is a Base Rate Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender Bank of any such notice received from the Company. Within 30 minutes after After receiving such notice, the Swing Line Lender Bank shall in its discretion quote an interest rate to the Company at which the Swing Line Lender Bank would be willing to make such Swing Loan available to the Company for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Quoted Rate”). The Company acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company does not so immediately accept the Quoted Rate for the full amount requested by the Company for such Swing Loan, the Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the a rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility equal to the Base Rate as from time to time lesser of the rate set forth in effectclause (i) and (ii)(A) of Section 1.20(b) above. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company on the date so requested at requested, by depositing such proceeds to the offices credit of the Company’s operating account maintained with the Agent or as the Company may direct. Anything contained in Chicagothe foregoing to the contrary notwithstanding, Illinoisthe Swing Bank shall have no obligation to make Swing Loans even if the Borrowers are in compliance with all of the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Secured Credit Agreement (Pilgrims Pride Corp)

Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon (Chicago time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as "Administrative Agent's Quoted Rate"). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If , and if the Company Borrower does not so immediately accept the Administrative Agent's Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Administrative Agent's Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to the Base Rate as from time to time provided in effectSection 1.6(b)(i) above. Subject to all of the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in Chicago, IllinoisIllinois (or by wire transfer of funds pursuant to the written instructions of the Borrower to the Administrative Agent). Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Lamson & Sessions Co)

Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), ) no later than 12:00 Noon 2:00 p.m. (Chicago time) on the date upon which the Company a Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Administrative Agent’s Quoted Rate”). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Administrative Agent’s Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Administrative Agent’s Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility Credit to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in Chicago, Illinois. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (CTS Corp)

Requests for Swing Loans. The Company Borrower shall give the Administrative Agent prior notice (which may be written or oral), no later than 12:00 Noon 1:00 p.m. (Chicago timeEastern Standard Time) on the date upon which the Company Borrower requests that any Swing Loan be made, of the amount and date of such Swing Loan, and the Interest Period requested therefor. The Agent shall promptly advise the Swing Line Lender of any such notice received from the Company. Within 30 minutes after receiving such notice, the Swing Line Lender Administrative Agent shall in its discretion quote an interest rate to the Company Borrower at which the Swing Line Lender Administrative Agent would be willing to make such Swing Loan available to the Company Borrower for the Interest Period so requested (the rate so quoted for a given Interest Period being herein referred to as “Administrative Agent’s Quoted Rate”). The Company Borrower acknowledges and agrees that the interest rate quote is given for immediate and irrevocable acceptance. If the Company Borrower does not so immediately accept the Administrative Agent’s Quoted Rate for the full amount requested by the Company Borrower for such Swing Loan, the Administrative Agent’s Quoted Rate shall be deemed immediately withdrawn and such Swing Loan shall bear interest at the rate per annum determined by adding the Applicable Margin for Base Rate Loans under the U.S. Revolving Facility to the Base Rate as from time to time in effect. Subject to the terms and conditions hereof, the proceeds of such Swing Loan shall be made available to the Company Borrower on the date so requested at the offices of the Administrative Agent in ChicagoCincinnati, IllinoisOhio. Anything contained in the foregoing to the contrary notwithstanding (i) the obligation of the Administrative Agent to make Swing Loans shall be subject to all of the terms and conditions of this Agreement and (ii) the Administrative Agent shall not be obligated to make more than one Swing Loan during any one day.

Appears in 1 contract

Samples: Credit Agreement (Delek US Holdings, Inc.)

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