Swing Line Borrowing Sample Clauses
The Swing Line Borrowing clause allows borrowers to access short-term, small-scale loans—known as swing line loans—under a larger credit facility. Typically, these loans are made available quickly and in smaller amounts than standard borrowings, often to cover immediate cash flow needs or to bridge short-term funding gaps. This clause provides flexibility for borrowers to manage day-to-day liquidity without the administrative burden of a full loan drawdown, ensuring smoother financial operations and addressing urgent funding requirements.
Swing Line Borrowing. A borrowing of a Swing Line Loan pursuant to §2.10.
Swing Line Borrowing. A borrowing of a Swing Line Loan pursuant to §2.9. Swing Line Lender. Bank of America in its capacity as lender of Swing Line Loans hereunder. Swing Line Loan(s). See §2.9. Swing Line Loan Request. A request for a Swing Line Borrowing pursuant to §2.9.2, which, if in writing, shall be substantially in the form of Exhibit B-2.
Swing Line Borrowing. A borrowing consisting of a Swing Line Loan made by any Swing Line Lender.
Swing Line Borrowing. Any Domestic Swing Line Borrowing and any Foreign Swing Line Borrowing, as the context requires. Swing Line Lender. Bank of America in its capacity as lender of Swing Line Loans hereunder. Swing Line Loan(s). See §2.9.
Swing Line Borrowing. Each Swing Line Borrowing shall be made on notice, given not later than 3:00 P.M. (New York City time) on the date of the proposed Swing Line Borrowing by the Borrower to each Swing Line Bank and the Agent, of which the Agent shall give prompt notice to the Lenders. Each such notice of a Swing Line Borrowing (a “Notice of Swing Line Borrowing”) shall be by telephone, confirmed at once in writing, or telecopier, specifying therein the requested (i) date of such Borrowing, (ii) amount of such Borrowing and (iii) maturity of such Borrowing (which maturity shall be no later than the fifth Business Day after the requested date of such Borrowing). Each Swing Line Bank shall, before 5:00 P.M. (New York City time) on the date of such Swing Line Borrowing, make such Swing Line Bank’s ratable portion of such Swing Line Borrowing available (based on the respective Swing Line Commitments of the Swing Line Banks) to the Agent at the Agent’s Account, in same day funds. After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Agent will make such funds available to the Borrower at the Agent’s address referred to in Section 9.02. Upon written demand by any Swing Line Bank with a Swing Line Advance, with a copy of such demand to the Agent, each other Lender will purchase from such Swing Line Bank, and such Swing Line Bank shall sell and assign to each such other Lender, such other Lender’s Ratable Share of such outstanding Swing Line Advance, by making available for the account of its Applicable Lending Office to the Agent for the account of such Swing Line Bank, by deposit to the Agent’s Account, in same day funds, an amount equal to the portion of the outstanding principal amount of such Swing Line Advance to be purchased by such Lender. The Borrower hereby agrees to each such sale and assignment. Each Lender agrees to purchase its Ratable Share of an outstanding Swing Line Advance on (i) the Business Day on which demand therefor is made by the Swing Line Bank which made such Advance, provided that notice of such demand is given not later than 11:00 A.M. (New York City time) on such Business Day or (ii) the first Business Day next succeeding such demand if notice of such demand is given after such time. Upon any such assignment by Swing Line Bank to any other Lender of a portion of a Swing Line Advance, such Swing Line Bank represents and warrants to such other Lender that such Swing Line Bank is the legal an...
Swing Line Borrowing. A borrowing consisting of a Swing Line Loan made by any Swing Line Lender. Swing Line Borrowing Date. See §2.9.2 hereof. Swing Line Facility. See §2.9.1 hereof.
Swing Line Borrowing. A borrowing consisting of a Swing Line Loan made by the Swing Line Bank.