Swingline Agents Clause Samples
The Swingline Agents clause designates a specific agent or group of agents responsible for administering and managing swingline loans within a syndicated loan agreement. In practice, these agents handle requests for short-term, typically smaller, revolving credit advances that are made available to borrowers on short notice, often to cover temporary cash flow needs. By clearly assigning responsibility for these rapid-access loans, the clause ensures efficient processing and coordination among lenders, thereby facilitating quick funding and reducing administrative confusion.
Swingline Agents. (a) The Dollar Swingline Agent may perform its duties in respect of the Dollar Swingline Facility through an Affiliate acting as its agent.
(b) The Euro Swingline Agent may perform its duties in respect of the Euro Swingline Facility through an Affiliate acting as its agent.
Swingline Agents. (a) Each Swingline Agent may perform its duties in respect of the relevant 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:
(i) each Lender shall (in proportion to its share of the Total Revolving Facility Commitments or, if the Total Revolving Facility Commitments are then zero, to its share of the Total Revolving Facility Commitments immediately prior to their reduction to zero) pay to or indemnify the €/£ Swingline Agent, within three Business Days of demand, for or against any cost, loss or liability (including, without limitation, for negligence or any other category of loss whatsoever) incurred by that €/£ Swingline Agent or its Affiliate (other than by reason of that €/£ Swingline Agent's or its Affiliate's gross negligence or wilful misconduct) or, in the case of any cost, loss or liability pursuant to Clause 32.11 (Disruption to payment systems etc.) notwithstanding that €/£ Swingline Agent’s or its Affiliate’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of that €/£ Swingline Agent or its Affiliate in acting as a €/£ Swingline Agent under the Finance Documents (unless that €/£ Swingline Agent or its Affiliate has been reimbursed by an Obligor pursuant to a Finance Document);
(ii) each Revolving Facility B Lender shall (in proportion to its share of the Total Revolving Facility B Commitments or, if the Total Revolving Facility B Commitments are then zero, to its share of the Total Revolving Facility B Commitments immediately prior to their reduction to zero) pay to or indemnify the U.S. Dollar Swingline Agent, within three Business Days of demand, for or against any cost, loss or liability (including, without limitation, for negligence or any other category of loss whatsoever) incurred by that U.S. Dollar Swingline Agent or its Affiliates (other than by reason of that U.S. Dollar Swingline Agent’s or its Affiliate's gross negligence or wilful misconduct) or, in the case of any cost, loss or liability pursuant to Clause 32.11 (Disruption to payment systems etc.) notwithstanding that U.S. Dollar Swingline Agent’s or its Affiliate’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of that U.S. Dollar Swingline Agent or its Affiliate in acting as a U.S. Dolla...
Swingline Agents. In this Clause 31 (Role of the Agent and the Arrangers) all references to the "Agent" shall, except where the context otherwise requires, include a reference to the Swingline Agents.