Swingline Advance Sample Clauses
A Swingline Advance clause establishes a mechanism within a loan agreement that allows borrowers to access short-term, small-amount loans, typically to cover immediate liquidity needs. This clause usually sets specific limits on the maximum amount and frequency of such advances, and may restrict their use to certain types of borrowers or purposes, such as funding working capital gaps. Its core practical function is to provide borrowers with flexible, rapid access to funds for day-to-day operational needs, thereby addressing short-term cash flow shortages without requiring a full loan drawdown.
Swingline Advance. (i) Amount of Swingline Advance (which must be an Alternate Base Borrowing): $ (Minimum of $500,000.00 or a greater integral multiple of $100,000.00).
(ii) Date of Swingline Advance:
Swingline Advance. Borrower hereby requests a Swingline Advance in an amount equal to $____________.
Swingline Advance. Subject to the terms and conditions of this Agreement, relying upon the representations and warranties set forth in this Agreement, and so long as the aggregate outstanding principal amount of all Advances are less than or equal to the Credit Amount, Swingline Lender agrees to make to the Company Swingline Advances totaling not more than FIFTEEN MILLION DOLLARS ($15,000,000.00) as requested by the Company by Requests for Advance as provided in Section 2.3 A. or Section 2.3 B., as applicable. Swingline Advances will be evidenced by the Swingline Note and shall bear interest as provided therein.
Swingline Advance. Borrower requests a Swingline Advance in the amount of $ on
(1) Borrower shall also be required to provide the additional information (if any) required by the Credit Agreement.
Swingline Advance. (i) Amount of Swingline Advance (which must be an Alternate Base Borrowing): $_________________ (Minimum of $500,000.00 or a greater integral multiple of $100,000.00).
(ii) Date of Swingline Advance: ________________________
Swingline Advance. Borrower will make a prepayment of the principal of the Swingline Advances in the amount of $ on . The undersigned, on behalf of Borrower, hereby certifies to the Administrative Agent as follows:
1. I am a Responsible Officer of Borrower on the date hereof.
2. No Default or Event of Default now exists or will exist after giving effect to the borrowing, conversion, continuation or prepayment requested herein.
3. The representations and warranties contained in Article 7 of the Credit Agreement are true and correct in all respects as of the date hereof with the same force and effect as though made on and as of the date hereof, except to the extent that such representations and warranties are expressly by their terms made only as of the Closing Date or another specific date and except to the extent that such representations and warranties are made with respect to information in the Schedules to the Credit Agreement, such Schedules shall be deemed to be modified or supplemented by transactions, acts or omissions that have occurred since March , 2005 that are permitted or required under the Credit Agreement.(2)
4. All covenants and agreements to have been complied with and performed by the Borrower on or prior to the making of the requested borrowing, conversion, continuation or prepayment have been fully complied with and performed.