Swingline Committed Amount Sample Clauses
The Swingline Committed Amount clause defines the maximum amount of credit available to a borrower under a Swingline facility, which is a short-term, revolving loan option within a larger credit agreement. This clause specifies the upper limit that the Swingline Lender is obligated to provide, often set as a sublimit of the total committed facility, and may outline conditions or restrictions on usage, such as minimum draw amounts or repayment timelines. Its core practical function is to ensure both lender and borrower have clear expectations regarding the availability and limits of short-term liquidity, thereby managing risk and operational certainty for both parties.
Swingline Committed Amount. If the Revolving Committed Amount is reduced below the then current Swingline Committed Amount, the Swingline Committed Amount shall automatically be reduced by an amount such that the Swingline Committed Amount equals the Revolving Committed Amount.
Swingline Committed Amount. The definition of Swingline Committed Amount in Section 1.1 of the Existing Credit Agreement is amended and restated in its entirety to read as follows: