Swingline Agent Clause Samples
The Swingline Agent clause designates a specific party, usually a financial institution, to act as the administrative agent responsible for managing and overseeing the operation of a swingline loan facility within a larger credit agreement. In practice, the Swingline Agent handles requests for short-term, revolving loans (swingline loans), coordinates funding among lenders, and ensures compliance with the terms governing these quick-access borrowings. This clause is essential for streamlining the process of providing immediate liquidity to borrowers, ensuring efficient administration, and clarifying the responsibilities and authority of the agent in relation to swingline loans.
Swingline Agent. (a) The Agent may perform its duties in respect of the Swingline Facility through an Affiliate acting as its agent.
(b) Notwithstanding any other term of this Agreement and without limiting the liability of the Borrower under the Finance Documents, each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Agent, within three Business Days of demand, for or against any cost, loss or liability incurred by the Agent or its Affiliate (other than by reason of the Agent’s or the Affiliate’s gross negligence or wilful misconduct) in acting as Agent for the Swingline Facility under the Finance Documents (unless the Agent or its Affiliate has been reimbursed by the Borrower pursuant to a Finance Document).
Swingline Agent. If the appointment of a successor Agent or, as the case may be, successor U.S. Swingline Agent is to be made by the Majority Lenders but they have not, within 30 days after notice of resignation, appointed a successor Agent or, as the case may be, successor U.S. Swingline Agent which accepts the appointment, the retiring Agent or, as the case may be, the retiring U.S. Swingline Agent may, following consultation with the Borrowers' Agent, appoint a successor Agent or, as the case may be, successor U.S. Swingline Agent.
Swingline Agent. (a) The Agent may perform its duties in respect of the Swingline Facility through an Affiliate acting as its agent.
(b) Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Agent, within three Business Days of demand, for or against any cost, loss or liability (including, without limitation, for negligence or for any other category of loss whatsoever) incurred by the Agent or its Affiliate (other than by reason of the Agent's or the Affiliate's gross negligence or wilful misconduct) or, in the case of any cost, loss or liability pursuant to Clause 32.11 (
Swingline Agent. Notwithstanding its irrevocable appointment, the Agent or, as the case may be, the U.S. Swingline Agent, may resign by giving notice to the Lenders and Vodafone, in which case the Agent or, as the case may be, the U.S. Swingline Agent, may forthwith appoint one of its Affiliates as successor Agent or, failing that, the Majority Lenders may after consultation with Vodafone appoint a reputable and experienced bank as successor Agent or, as the case may be, successor U.S. Swingline Agent.
Swingline Agent. (a) The Agent may perform its duties in respect of the Swingline Facility through an Affiliate acting as its agent.
(b) Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each Lender shall (in proportion to its share of the Total Facility C Commitments or, if the Total Facility C Commitments are then zero, to its share of the Total Facility C Commitments immediately prior to their reduction to zero) pay to or indemnify the Agent, within three Business Days of demand, for or against any cost, loss or liability incurred by the Agent or its Affiliate (other than by reason of the Agent’s or the Affiliate’s gross negligence or wilful misconduct) in acting as Agent for the Swingline Facility under the Finance Documents (unless the Agent or its Affiliate has been reimbursed by an Obligor pursuant to a Finance Document).
Swingline Agent. (a) The Facility Agent may perform its duties in respect of the Swingline Facility through an Affiliate acting as its agent.
(b) Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Facility Agent, within three Business Days of demand, for or against any cost, loss or liability incurred by the Facility Agent or its Affiliate (other than by reason of the Facility Agent’s or the Affiliate’s gross negligence or wilful misconduct) in acting as Facility Agent for the Swingline Facility under the Finance Documents (unless the Facility Agent or its Affiliate has been reimbursed by an Obligor pursuant to a Finance Document).
Swingline Agent. 37.18.1 Each Swingline Lender appoints the Swingline Agent to act as its agent in connection with the Swingline Facility, and accordingly to exercise the rights, powers, authorities and discretions specifically given to the Swingline Agent under or in connection with the Finance Documents, together with any other incidental rights, powers, authorities and discretions.
37.18.2 Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each Facility A Lender shall (in the proportion its Facility A Commitment bears to the Total Commitments or, if the Total Commitments are then zero, bore to the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Swingline Agent, within three (3) Business Days of demand, for or against any cost, loss or liability incurred by the Swingline Agent (other than by reason of the Swingline Agent's gross negligence or wilful misconduct) in acting as Swingline Agent (unless the Swingline Agent has been reimbursed by an Obligor pursuant to a Finance Document).
37.18.3 This Clause 37 (except Clause 37.10 (Lenders' indemnity to the Agent)) applies to the Swingline Agent as if each reference to the "Agent" were as a reference to the Swingline Agent.
Swingline Agent. (a) The Relevant Swingline Agent may perform its duties in respect of the Swingline Facility through an Affiliate acting as its agent.
(b) Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Relevant Swingline Agent, within three Business Days of demand, for or against any cost, loss or liability incurred by the Relevant Swingline Agent or its Affiliate (other than by reason of the Agent's or the Affiliate's gross negligence or wilful misconduct) in acting as the Relevant Swingline Agent for the Swingline Facility under the Finance Documents (unless the Relevant Swingline Agent or its Affiliate has been reimbursed by an Obligor pursuant to a Finance Document).
Swingline Agent. 37.18.1 Each Swingline Lender appoints the Swingline Agent (which shall not be incorporated, domiciled or acting through an office situated in a Non-Cooperative Jurisdiction) to act as its agent in connection with the Swingline Facility, and accordingly to exercise the rights, powers, authorities and discretions specifically given to the Swingline Agent under or in connection with the Finance Documents, together with any other incidental rights, powers, authorities and discretions.
37.18.2 Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each Facility A Lender shall (in the proportion its Facility A Commitment bears to the Total Commitments or, if the Total Commitments are then zero, bore to the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Swingline Agent, within three (3) Business Days of demand, for or against any cost, loss or liability incurred by the Swingline Agent (other than by reason of the Swingline Agent’s gross negligence or wilful misconduct) in acting as Swingline Agent (unless the Swingline Agent has been reimbursed by an Obligor pursuant to a Finance Document).
37.18.3 This Clause 37 (except Clause 37.10 (Lenders’ indemnity to the Agent)) applies to the Swingline Agent as if each reference to the “Agent” were as a reference to the Swingline Agent.