Common use of Swing Line Loan Commitment Clause in Contracts

Swing Line Loan Commitment. Subject to the terms and conditions of this Loan Agreement and in reliance upon the repre- sentations and warranties of the Borrower set forth herein, PNC hereby agrees, subject to the limitations set forth below with respect to the maximum amount of Swing Line Loans per- mitted to be outstanding from time to time, to make a portion of its Revolving Loan Commit- ment and a portion of its Line of Credit Commitment available to the Borrower from time to time during the period up to but not in- cluding the Revolving Loan Commitment Termina- tion Date and the Line of Credit Commitment Termination Date, respectively, in an aggre- gate principal amount of up to Five Million Dollars ($5,000,000.00), by making Swing Line Loans to the Borrower, notwithstanding the fact that such Swing Line Loans, when aggre- gated with PNC's outstanding Revolving Loans and Line of Credit Advances, may exceed PNC's Revolving Loan Commitment or its Line of Credit Commitment. PNC's commitment to make Swing Line Loans to the Borrower pursuant to this Section 2.11 is herein called its "Swing Line Loan Commitment." In no event shall (a) the aggregate principal amount of Swing Line Loans outstanding at any time exceed the Swing Line Loan Commitment, or (b) the aggregate principal amount of Revolving Loans, Line of Credit Advances and Swing Line Loans outstand- ing at any time exceed the sum of the aggre- gate Revolving Loan Commitments reduced by the aggregate Letter of Credit Usage at such time plus the aggregate Line of Credit Commitments. Any reduction of the Revolving Loan Commit- ments or the Line of Credit Commitments made pursuant to Section 2.4 hereof which reduces the Revolving Loan Commitments and the Line of Credit Commitments below the then current amount of the Swing Line Loan Commitment shall result in an automatic corresponding reduction of the Swing Line Loan Commitment to the amount of the Revolving Loan Commitments and Line of Credit Commitments, as so reduced, without any further action on the part of PNC. PNC's Swing Line Loan Commitment shall constitute a 364-day facility and shall be renewable from time to time at the sole option of PNC upon not less than thirty (30) days' prior written notice to the Borrower; provid- ed, that all outstanding Swing Line Loans on the date of cancellation of the Swing Line Loan Commitment, if such date is earlier than the Revolving Loan Commitment Termination Date or the Line of Credit Commitment Termination Date shall be paid in full to PNC with Revolv- ing Loans and/or Line of Credit Advances made by the Banks in accordance with their respec- tive Pro Rata Shares in the manner set forth in Section 2.1D herein; provided further, the Swing Line Commitment shall expire on either the Revolving Loan Commitment Termination Date or the Line of Credit Termination Date and all Swing Line Loans shall be paid in full to PNC no later than such date. All Swing Line Loans shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate per annum equal to the Offered Rate, shall be payable monthly in arrears and shall not be entitled to be converted into LIBOR Rate Loans unless and until such Swing Line Loans are converted to Revolving Loans or Line of Credit Advances in accordance with Section 2.11C hereof. Swing Line Loans made on any Funding Date may be in any amount up to Five Million Dollars ($5,000,000.00), or, if less, the positive difference between Five Million Dollars ($5,000,000.00) and the aggregate principal amount of all Swing Line Loans then outstand- ing. All Swing Line Loans together with accrued interest thereon shall be evidenced by the Swing Line Note. All Swing Line Loans shall be paid in full to PNC on the Swing Line Loan Commitment Termination Date.

Swing Line Loan Commitment. Subject During the Availability Period, subject to the terms and conditions of this Loan Agreement and in reliance upon the repre- sentations and warranties of the Borrower set forth hereinhereof, PNC hereby agrees, subject to the limitations set forth below with respect to the maximum amount of Swing Line Loans per- mitted to be outstanding from time to timeLenders shall, to make a portion of its Revolving Loan Commit- ment and a portion of its Line of Credit Commitment available to the Borrower from time to time during make Swing Line Loans to Borrower in the period aggregate amount up to but not in- cluding exceeding the Swing Line Sublimit; provided, that (i) after giving effect to the making of any Swing Line Loan, in no event shall the Revolving Loan Commitment Termina- tion Date Credit Exposures exceed the total Revolving Commitments then in effect and (ii) unless the Line of Credit Commitment Termination Date, respectively, in an aggre- gate principal amount of up to Five Million Dollars ($5,000,000.00), by making applicable Swing Line Loans to the BorrowerLender shall otherwise consent in writing, notwithstanding the fact that such no Swing Line Loans, when aggre- gated with PNC's outstanding Revolving Loans and Line of Credit Advances, may exceed PNC's Revolving Loan Commitment or its Line of Credit Commitment. PNC's commitment Lender shall be obligated to make Swing Line Loans in an aggregate outstanding principal amount determined as of the date of such Swing Line Lender’s receipt of a Borrowing Request pursuant to Section 1.13(2)(B) below, in excess of the Borrower lesser of (x) such Swing Line Lender’s Swing Line Commitment and (y) an amount equal to (A) the Revolving Commitment of such Swing Line Lender in its capacity as a Lender hereunder as of such date, minus (B) the aggregate outstanding principal amount of Revolving Loans made by such Swing Line Lender and such Swing Line Lender’s participation interest under Section 1.4(5) in all Letters of Credit hereunder as of such date, in each case in its capacity as a Lender hereunder (such lesser amount as of such date being such Swing Line Lender’s “Individual Swing Line Sublimit”). Amounts borrowed pursuant to this Section 2.11 is herein called its "1.13 may be repaid and reborrowed during the Availability Period. Each Swing Line Loan Commitment." In no event shall (a) the aggregate principal amount of Swing Line Loans outstanding at any time exceed the Swing Line Loan Commitment, or (b) the aggregate principal amount of Revolving Loans, Line of Credit Advances and Swing Line Loans outstand- ing at any time exceed the sum of the aggre- gate Revolving Loan Commitments reduced by the aggregate Letter of Credit Usage at such time plus the aggregate Line of Credit Commitments. Any reduction of the Revolving Loan Commit- ments or the Line of Credit Commitments made pursuant to Section 2.4 hereof which reduces the Revolving Loan Commitments and the Line of Credit Commitments below the then current amount of the Swing Line Loan Commitment shall result in an automatic corresponding reduction of the Swing Line Loan Commitment to the amount of the Revolving Loan Commitments and Line of Credit Commitments, as so reduced, without any further action on the part of PNC. PNC's Swing Line Loan Commitment shall constitute a 364-day facility and shall be renewable from time to time at the sole option of PNC upon not less than thirty (30) days' prior written notice to the Borrower; provid- ed, that all outstanding Swing Line Loans on the date of cancellation of the Swing Line Loan Commitment, if such date is earlier than the Revolving Loan Commitment Termination Date or the Line of Credit Commitment Termination Date shall be paid in full to PNC with Revolv- ing Loans and/or Line of Credit Advances made by the Banks in accordance with their respec- tive Pro Rata Shares in the manner set forth in Section 2.1D herein; provided further, the Lender’s Swing Line Commitment shall expire on either the Revolving Loan Commitment Termination Date or the Line of Credit Termination Date and all Swing Line Loans and all other amounts owed hereunder with respect to the Swing Line Loans and the Swing Line Commitments shall be paid in full to PNC no later than such date. All Swing Line Loans shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate per annum equal to the Offered Rate, shall be payable monthly in arrears and shall not be entitled to be converted into LIBOR Rate Loans unless and until such Swing Line Loans are converted to Revolving Loans or Line of Credit Advances in accordance with Section 2.11C hereof. Swing Line Loans made on any Funding Date may be in any amount up to Five Million Dollars ($5,000,000.00), or, if less, the positive difference between Five Million Dollars ($5,000,000.00) and the aggregate principal amount of all Swing Line Loans then outstand- ing. All Swing Line Loans together with accrued interest thereon shall be evidenced by the Swing Line Note. All Swing Line Loans shall be paid in full to PNC on the Swing Line Loan Commitment Termination Date.

Swing Line Loan Commitment. Subject to the terms and conditions of this Loan Agreement and in reliance upon the repre- sentations representations and warranties of the Borrower set forth herein, PNC hereby agrees, subject to the limitations set forth below with respect to the maximum amount of Swing Line Loans per- mitted to be outstanding from time to time, to make a portion of its Revolving Loan Commit- ment Commitment and a portion of its Line of Credit Commitment available to the Borrower from time to time during the period up to but not in- cluding including the Revolving Loan Commitment Termina- tion Termi- nation Date and the Line of Credit Commitment Termination Date, respectively, in an aggre- gate aggregate principal amount of up to Five Million Dollars ($5,000,000.00), by making Swing Line Loans to the Borrower, notwithstanding the fact that such Swing Line Loans, when aggre- gated aggregated with PNC's outstanding Revolving Loans and Line of Credit Advances, may exceed PNC's Revolving Loan Commitment or its Line of Credit Commitment. PNC's commitment to make Swing Line Loans to the Borrower pursuant to this Section 2.11 is herein called its "Swing Line Loan Commitment." In no event shall (a) the aggregate principal amount of Swing Line Loans outstanding at any time exceed the Swing Line Loan Commitment, or (b) the aggregate principal amount of Revolving Loans, Line of Credit Advances and Swing Line Loans outstand- ing outstanding at any time exceed the sum of the aggre- gate aggregate Revolving Loan Commitments reduced by the aggregate Letter of Credit Usage at such time plus the aggregate Line of Credit Commitments. Any reduction of the Revolving Loan Commit- ments Commitments or the Line of Credit Commitments made pursuant to Section 2.4 hereof which reduces the Revolving Loan Commitments and the Line of Credit Commitments below the then current amount of the Swing Line Loan Commitment shall result in an automatic corresponding reduction of the Swing Line Loan Commitment to the amount of the Revolving Loan Commitments and Line of Credit Commitments, as so reduced, without any further action on the part of PNC. PNC's Swing Line Loan Commitment shall constitute a 364-day facility and shall be renewable from time to time at the sole option of PNC upon not less than thirty (30) days' prior written notice to the Borrower; provid- edProvided, that all outstanding Swing Line Loans on the date of cancellation of the Swing Line Loan Commitment, if such date is earlier than the Revolving Loan Commitment Termination Date or the Line of Credit Commitment Termination Date shall be paid in full to PNC with Revolv- ing Revolving Loans and/or Line of Credit Advances made by the Banks in accordance with their respec- tive respective Pro Rata Shares in the manner set forth in Section 2.1D herein; provided further, the Swing Line Loan Commitment shall expire on either the Revolving Loan Commitment Termination Date or the Line of Credit Termination Date and all Swing Line Loans shall be paid in full to PNC no later than such date. All Swing Line Loans shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate per annum equal to the Offered Rate, shall be payable monthly in arrears and shall not be entitled to be converted into LIBOR Rate Loans unless and until such Swing Line Loans are converted to Revolving Loans or Line of Credit Advances in accordance with Section 2.11C hereof. Swing Line Loans made on any Funding Date may be in any amount up to Five Million Dollars ($5,000,000.00), or, if less, the positive difference between Five Million Dollars ($5,000,000.00) and the aggregate principal amount of all Swing Line Loans then outstand- ing. All Swing Line Loans together with accrued interest thereon shall be evidenced by the Swing Line Note. All Swing Line Loans shall be paid in full to PNC on the Swing Line Loan Commitment Termination Date.