Common use of Swing Loan Commitment Clause in Contracts

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 (the "Swing Loan Commitment"), provided that after giving effect to each such Loan, the Revolving Facility Usage shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 3 contracts

Samples: Credit Agreement (Foster L B Co), Credit Agreement (Foster L B Co), Credit Agreement (Foster L B Co)

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Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers at any time or from time to time after the date hereof to, but not including, the Expiration DateDate applicable to the Revolving Credit Commitments, in an aggregate principal amount up to but not in excess of $15,000,000 30,000,000.00 (the "Swing Loan Commitment"), provided that after giving effect to each such Loan, the aggregate principal amount of the Swing Loan Lender’s Swing Loans and the Dollar Equivalent amount of Revolving Facility Usage Credit Loans of all the Lenders at any one time outstanding shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if Commitments of all the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing LoanLenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 2 contracts

Samples: Credit Agreement (Glatfelter Corp), Fourth Restatement Agreement (Glatfelter Corp)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Datesin amounts of $30,000,000 or less, the Swing Loan Lender may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers Borrower at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 (the "Swing Loan Commitment"), subject to reduction as provided herein and to be made in accordance with the following provisions. The Swing Lender may in its discretion make Swing Loans provided that after giving effect to each such Loan, the aggregate principal amount of the Swing Loans and the Revolving Facility Usage Credit Loans of all of the Banks at any one time outstanding plus the Letter of Credit Outstandings shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers Borrower may borrow, repay and reborrow pursuant to this Section 2.1.22.10.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Stores Corp /De/)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender PNC Bank may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers Borrower at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 2,000,000 (the "Swing Loan Commitment"), provided that after giving effect to each such Loan, Swing Loans shall be made solely in Dollars and provided further that the aggregate principal amount of PNC Bank’s Swing Loans and the Revolving Facility Usage Credit Loans of all the Lenders at any one time outstanding shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if Commitments of all the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing LoanLenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers Borrower may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 1 contract

Samples: Credit Agreement (O'Gara Group, Inc.)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 30,000,000.00 (the "Swing Loan Commitment"), provided that after giving effect to each such Loan, the aggregate principal amount of the Swing Loan Lender’s Swing Loans and the Dollar Equivalent amount of Revolving Facility Usage Credit Loans of all the Lenders at any one time outstanding shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if Commitments of all the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing LoanLenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 1 contract

Samples: Credit Agreement (Glatfelter P H Co)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 30,000,000.00 (the "Swing Loan 42 Commitment"), provided that after giving effect to each such Loan, the aggregate principal amount of the Swing Loan Lender's Swing Loans and the Dollar Equivalent amount of Revolving Facility Usage Credit Loans of all the Lenders at any one time outstanding shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if Commitments of all the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing LoanLenders. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 1 contract

Samples: Credit Agreement (Glatfelter P H Co)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers Borrower at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 (the "Swing Loan Commitment")10,000,000, provided that after giving effect to each such Loan, the Revolving Facility Usage shall not exceed the aggregate Revolving Credit CommitmentsCommitments of the Lenders; and provided further that a Swing Loan shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers Borrower may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 1 contract

Samples: Continuing Agreement (Ii-Vi Inc)

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Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 (the "Swing Loan Commitment"), provided that after giving effect to each such Loan, the Revolving Facility Usage shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers may borrow, repay and reborrow pursuant to this Section 2.1.22.1.1.1.

Appears in 1 contract

Samples: Credit Agreement (Foster L B Co)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender PNC may, at its option, cancelable cancellable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers Borrower at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 (the "Swing Loan Commitment")10,000,000, provided that after giving effect to each such Loan, the Revolving Facility Usage shall not exceed the aggregate Revolving Credit CommitmentsCommitments of the Lenders; and provided further that a Swing Loan shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers Borrower may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 1 contract

Samples: Credit Agreement (Ii-Vi Inc)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 (the "Swing Loan Commitment"), provided that after giving effect to each such Loan, the Revolving Facility Usage shall not exceed the Revolving Credit Commitments; and provided further that a Swing Loan shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 1 contract

Samples: Credit Agreement (Foster L B Co)

Swing Loan Commitment. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, and in order to facilitate loans and repayments between Settlement Dates, the Swing Loan Lender PNC may, at its option, cancelable at any time for any reason whatsoever, make swing loans in Dollars (the "Swing Loans") to the Borrowers Borrower at any time or from time to time after the date hereof to, but not including, the Expiration Date, in an aggregate principal amount up to but not in excess of $15,000,000 (the "Swing Loan Commitment")15,000,000, provided that after giving effect to each such Loan, the Revolving Facility Usage shall not exceed the aggregate Revolving Credit CommitmentsCommitments of the Lenders; and provided further that a Swing Loan shall not be made if the proceeds thereof would be used to repay, in whole or in part, any outstanding Swing Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers Borrower may borrow, repay and reborrow pursuant to this Section 2.1.2.

Appears in 1 contract

Samples: Credit Agreement (Ii-Vi Inc)

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