Swing Lender Clause Samples
The Swing Lender clause designates a specific lender within a syndicated loan arrangement to provide short-term, immediate funding to the borrower when other lenders are unable to do so quickly. Typically, the swing lender advances funds to cover temporary shortfalls or urgent cash needs, with the expectation that other lenders will later reimburse their share. This clause ensures the borrower has continuous access to liquidity, addressing timing mismatches and preventing operational disruptions due to delays in funding from the broader lender group.
Swing Lender. JPMorgan, in its capacity as the Swing Lender under the Swing Loan facility described in §2.1(b), and its successors in such capacity.
Swing Lender. JPMorgan, in its capacity as the Swing Lender under the Swing Loan facility described in Section 2.1(b), and its successors in such capacity. SWING LOAN. A Loan made by the Swing Lender pursuant to Section 2.1(b).
Swing Lender. M&T, so long as it is a Lender, or if M&T is no longer a Lender, then a Lender designated by the Borrower and reasonably acceptable to the Agent.
Swing Lender. JPM, so long as it is a Lender, or if JPM is no longer a Lender, then a Lender designated by the Borrower and acceptable to the Agent.
Swing Lender. The Borrower may from time to time pay, subject to the payment of any funding indemnification amounts required by Section 3.4 but without penalty or premium, all outstanding Eurocurrency Advances or, in an amount equal to the Minimum Tranche, any portion of the outstanding Eurocurrency Advances upon three Business Days’ prior notice to the Administrative Agent. The Borrower may from time to time pay, without premium or penalty, all outstanding Yen Swing Loans or Sterling Swing Loans or, in an amount equal to a principal Equivalent Amount of at least U.S.$5,000,000 and an integral multiple of 1,000,000 units of the Appropriate Foreign Currency, any portion of an outstanding Foreign Currency Swing Loan upon notice to the Appropriate Foreign Currency Swing Lender not later than 10:00 a.m. (local time at the place of payment) on the date of such prepayment. The Borrower may from time to time pay, without premium or penalty, all outstanding Euro Swing Loans or, in an amount equal to a principal Equivalent Amount of at least U.S.$5,000,000 and an integral multiple of 1,000,000 Euros, any portion of an outstanding Euro Swing Loan upon notice to the Euro Swing Lender not later than 10:00 a.m. (London time) on the date of such prepayment.
Swing Lender. U.S. Bank National Association, in its capacity as the lender under the Swing Loan facility described in Section 3.5, and its successors in such capacity.