Common use of Swing Line Loan Clause in Contracts

Swing Line Loan. (i) The Treasury Manager may request of the Agent that Swing Line Bank make, and the Swing Line Bank may, in its sole discretion provided that the requirements of Section 2.7 are complied with by the Borrowers at the time of such request, make, Swing Line Loans to the Borrowers from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount not to exceed at any date the lesser of (A) $10,000,000 (the "Swing Line Facility") and (B) the aggregate of the unused portions of the Commitments of the Banks as of such date. Each Bank's Commitment shall be deemed utilized by an amount equal to such Bank's pro rata share (based on such Bank's Commitment) of each Swing Line Loan for purposes of determining the amount of Revolving Credit Loans required to be made by such Bank. Swing Line Loans shall bear interest at the Interbank Offered Rate or the Negotiated Rate, as the Borrowers may elect hereunder. Within the limits of the Swing Line Facility, so long as the Swing Line Bank, in its sole discretion, elects to make Swing Line Loans, the Borrowers may borrow and reborrow under this Section 2.1(b)(i).

Appears in 2 contracts

Samples: Loan Agreement (Invacare Corp), Guaranty Agreement (Invacare Corp)

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Swing Line Loan. (i) The Treasury Manager Any Borrower may request of the Agent that Swing Line Bank to make, and the Swing Line Bank may, in its sole discretion provided that the requirements of Section 2.7 2.6 are complied with by the Borrowers at the time of such request, make, Swing Line Loans to the Borrowers any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount not to exceed at any date the lesser of (A) $10,000,000 15,000,000 (the "Swing Line Facility") and (B) the aggregate of the unused portions of the Commitments of the Banks as of such date. Each Bank's Commitment shall be deemed utilized by an amount equal to such Bank's pro rata share (based on such Bank's Commitment) of each Swing Line Loan for purposes of determining the amount of Revolving Credit Loans Advances required to be made by such Bank, but no Bank's Commitment shall be deemed utilized for purposes of determining commitment fees under Section 2.3(a)(i). Swing Line Loans shall bear interest at the Interbank Offered Floating Rate or at the Negotiated Swing Line Rate, as elected by the Borrowers may elect hereunderBorrower requesting such Loan pursuant to Section 2.4. Within the limits of the Swing Line Facility, so long as the Swing Line Bank, in its sole discretion, elects to make Swing Line Loans, the Borrowers may borrow and reborrow under this Section 2.1(b)(i).

Appears in 1 contract

Samples: Loan Agreement (Jabil Circuit Inc)

Swing Line Loan. (i) The Treasury Manager Any Borrower may request of the Agent that Swing Line Bank to make, and the Swing Line Bank may, in its sole discretion provided that the requirements of Section 2.7 2.6 are complied with by the Borrowers at the time of such request, make, Swing Line Loans to the Borrowers any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount not to exceed at any date the lesser of (A) $10,000,000 (or the Dollar Equivalent thereof in any other Permitted Currency) (the "Swing Line Facility") and (B) the aggregate of the unused portions of the Commitments of the Banks as of such date. Each Bank's Commitment shall be deemed utilized by an amount equal to such Bank's pro rata share (based on such Bank's Commitment) of each Swing Line Loan for purposes of determining the amount of Revolving Credit Loans Advances required to be made by such Bank, but no Bank's Commitment shall be deemed utilized for purposes of determining commitment fees under Section 2.3(a)(i). Swing Line Loans shall bear interest at the Interbank Offered Floating Rate or at the Negotiated Swing Line Rate, as elected by the Borrowers may elect hereunderBorrower requesting such Loan pursuant to Section 2.4. Within the limits of the Swing Line Facility, so long as the Swing Line Bank, in its sole discretion, elects to make Swing Line Loans, the Borrowers may borrow and reborrow under this Section 2.1(b)(i).

Appears in 1 contract

Samples: Loan Agreement (Jabil Circuit Inc)

Swing Line Loan. (i) The Treasury Manager Any Borrower may request of the Agent that Swing Line Bank to make, and the Swing Line Bank may, in its sole discretion provided that the requirements of Section 2.7 2.6 are complied with by the Borrowers at the time of such request, make, Swing Line Loans to the Borrowers any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount not to exceed at any date the lesser of (A) $10,000,000 25,000,000 (the "Swing Line Facility") and (B) the aggregate of the unused portions of the Commitments of the Banks as of such date. Each Bank's Commitment shall be deemed utilized by an amount equal to such Bank's pro rata share (based on such Bank's Commitment) of each Swing Line Loan for purposes of determining the amount of Revolving Credit Loans Advances required to be made by such Bank, but no Bank's Commitment shall be deemed utilized for purposes of determining commitment fees under Section 2.3(a)(i). Swing Line Loans shall bear interest at the Interbank Offered Floating Rate or at the Negotiated Swing Line Rate, as elected by the Borrowers may elect hereunderBorrower requesting such Loan pursuant to Section 2.4. Within the limits of the Swing Line Facility, so long as the Swing Line Bank, in its sole discretion, elects to make Swing Line Loans, the Borrowers may borrow and reborrow under this Section 2.1(b)(i).

Appears in 1 contract

Samples: Jabil Circuit Inc

Swing Line Loan. (i) The Treasury Manager Any Borrower may request of the Agent that Swing Line Bank to make, and the Swing Line Bank may, in its sole discretion provided that the requirements of Section 2.7 2.6 are complied with by the Borrowers at the time of such request, make, Swing Line Loans in Dollars to the Borrowers any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount Dollar Amount not to exceed at any date the lesser of (A) $10,000,000 25,000,000 (the "Swing Line Facility") and (B) the aggregate of the unused portions of the Commitments of the Banks as of such date. Each Bank's Commitment shall be deemed utilized by an amount equal to such Bank's pro rata share (based on such Bank's Commitment) of each Swing Line Loan for purposes of determining the amount of Revolving Credit Loans Advances required to be made by such Bank, but no Bank's Commitment shall be deemed utilized for purposes of determining commitment fees under Section 2.3(a)(i). Swing Line Loans shall bear interest at the Interbank Offered Floating Rate or at the Negotiated Swing Line Rate, as elected by the Borrowers may elect hereunderBorrower requesting such Loan pursuant to Section 2.4. Within the limits of the Swing Line Facility, so long as the Swing Line Bank, in its sole discretion, elects to make Swing Line Loans, the Borrowers may borrow and reborrow under this Section 2.1(b)(i).

Appears in 1 contract

Samples: Jabil Circuit Inc

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Swing Line Loan. (i) The Treasury Manager may request of the Agent that Swing Line Bank to make, and the Swing Line Bank Agent may, in its sole discretion provided that the requirements of Section 2.7 2.8 are complied with by the Borrowers at the time of such request, make, Swing Line Loans to the Borrowers from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount not to exceed at any date the lesser of (A) $10,000,000 25,000,000 (the "Swing Line Facility") and (B) the aggregate of the unused portions of the Commitments of the Banks as of such date. Each Bank's Commitment shall be deemed utilized by an amount equal to such Bank's pro rata share (based on such Bank's Commitment) of each Swing Line Loan for purposes of determining the amount of Revolving Credit Loans Advances required to be made by such Bank. Swing Line Loans shall bear interest at the Interbank Offered Rate or the Negotiated Rate, as the Borrowers may elect hereunder. Within the limits of the Swing Line Facility, so long as the Swing Line BankAgent, in its sole discretion, elects to make Swing Line Loans, the Borrowers may borrow and reborrow under this Section 2.1(b)(i).

Appears in 1 contract

Samples: Assumption Agreement (Invacare Corp)

Swing Line Loan. (i) The Treasury Manager Borrower may request of the Administrative Agent that Swing Line Bank to make, and the Swing Line Bank Administrative Agent may, in its sole discretion provided that the requirements of Section Sections 2.6 and 2.7 are complied with by the Borrowers Borrower at the time of such request, make, Swing Line Loans to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount not to exceed at any date the lesser of (A) $10,000,000 5,000,000 (the "Swing Line Facility") and (B) the aggregate of the unused portions of the Commitments of the Banks Lenders as of such date. The Administrative Agent may make Swing Line Loans (provided that the Administrative Agent has received a request in writing from the Borrower no later than 1:00 p.m. Chicago time) on the Business Day on which such Swing Line Loan is requested to be made. Each BankSwing Line Loan shall be payable on demand and shall bear interest at the Floating Rate. Each Lender's Commitment shall be deemed utilized by an amount equal to such BankLender's pro rata share (based on such BankLender's Commitment) of each Swing Line Loan for purposes of determining the amount of Revolving Credit Loans Advances required to be made by such Bank. Swing Line Loans shall bear interest at the Interbank Offered Rate or the Negotiated Rate, as the Borrowers may elect hereunderLender. Within the limits of the Swing Line Facility, so long as the Swing Line BankAdministrative Agent, in its sole discretion, elects to make Swing Line Loans, the Borrowers Borrower may borrow and reborrow under this Section 2.1(b)(i).

Appears in 1 contract

Samples: Guaranty Agreement (National Auto Credit Inc /De)

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