Common use of Swingline Loan Participations Clause in Contracts

Swingline Loan Participations. Any Swingline Lender may by written notice given to the Administrative Agent require the Revolving Lenders to acquire participations in all or a portion of its Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such Revolving Lender’s Applicable Percentage of such Swingline Loans. Each Revolving Lender hereby absolutely and unconditionally agrees, promptly upon receipt of such notice from the Administrative Agent (and in any event, if such notice is received by 12:00 noon, Minneapolis time, on a Business Day no later than 5:00 p.m. Minneapolis time on such Business Day and if received after 12:00 noon, Minneapolis time, on a Business Day shall mean no later than 10:00 a.m. Minneapolis time on the immediately succeeding Business Day), to pay to the Administrative Agent, for the account of such Swingline Lenders, such Revolving Lender’s Applicable Percentage of such Swingline Loans. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 with respect to Loans made by such Revolving Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to such Swingline Lenders the amounts so received by it from the Revolving Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to such Swingline Lenders. Any amounts received by a Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by such Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders that shall have made their payments pursuant to this paragraph and to such Swingline Lenders, as their interests may appear; provided that any such payment so remitted shall be repaid to such Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof.

Swingline Loan Participations. Any Swingline Lender may by written notice given to the Administrative Agent require the Revolving Lenders to acquire participations in all or a portion of its Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such Revolving Lender’s Applicable Percentage of such Swingline Loans. Each Revolving Lender hereby absolutely and unconditionally agrees, promptly upon receipt of such notice from the Administrative Agent (and in any event, if such notice is received by 12:00 noon, Minneapolis New York City time, on a Business Day no later than 5:00 p.m. Minneapolis New York City time on such Business Day and if received after 12:00 noon, Minneapolis New York City time, on a Business Day shall mean no later than 10:00 a.m. Minneapolis New York City time on the immediately succeeding Business Day), to pay to the Administrative Agent, for the account of such Swingline Lenders, such Revolving Lender’s Applicable Percentage of such Swingline Loans. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 2.6 with respect to Loans made by such Revolving Lender (and Section 2.07 2.6 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to such Swingline Lenders the amounts so received by it from the Revolving Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to such Swingline Lenders. Any amounts received by a Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by such Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders that shall have made their payments pursuant to this paragraph and to such Swingline Lenders, as their interests may appear; provided that any such payment so remitted shall be repaid to such Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof.

Swingline Loan Participations. Any The Swingline Lender may by written notice given to the General Administrative Agent not later than 10:00 A.M. (Eastern time) on any Business Day require the Revolving U.S. Lenders to acquire participations on such Business Day in all or a portion of its the Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving U.S. Lenders will participate. Promptly upon receipt of such notice, the General Administrative Agent will give notice notify each U.S. Lender as to the details thereof to each Revolving Lender, specifying in and such notice such Revolving U.S. Lender’s Applicable Percentage of such aggregate amount of Swingline Loans. Each Revolving U.S. Lender hereby absolutely and unconditionally agrees, promptly upon receipt of such notice from the Administrative Agent (and in any event, if such notice is received by 12:00 noon, Minneapolis time, on a Business Day no later than 5:00 p.m. Minneapolis time on such Business Day and if received after 12:00 noon, Minneapolis time, on a Business Day shall mean no later than 10:00 a.m. Minneapolis time on the immediately succeeding Business Day)as provided above, to pay to the General Administrative Agent, for the account of such the Swingline LendersLender, such Revolving U.S. Lender’s Applicable Percentage of such aggregate amount of Swingline Loans. Each Revolving U.S. Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph subsection is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the U.S. Commitments, and that each payment by a U.S. Lender to acquire such payment participations shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving U.S. Lender shall comply with its obligation under this paragraph subsection by making available by wire transfer its share of such Swingline Loan or Loans in Federal or other funds immediately available fundsin New York City, in the same manner as provided in Section 2.07 2.04 with respect to Loans made by such Revolving Lender (and Section 2.07 2.04(c) shall apply, mutatis mutandis, mutandis to the payment obligations of the Revolving LendersU.S. Lenders under this subsection), and the General Administrative Agent shall promptly pay to such the Swingline Lenders Lender the amounts so received by it from the Revolving U.S. Lenders. The General Administrative Agent shall notify the Borrower U.S. Borrowers’ Agent of any participations in any Swingline Loan acquired pursuant to this paragraphsubsection, and thereafter payments in respect of such Swingline Loan shall be made to the General Administrative Agent and not to such the Swingline LendersLender. Any amounts received by a the Swingline Lender from the Borrower (or other party on behalf of the Borrower) U.S. Borrowers in respect of a Swingline Loan after receipt by such the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the General Administrative Agent; any such amounts received by the General Administrative Agent shall be promptly remitted by the General Administrative Agent to the Revolving U.S. Lenders that shall have made their payments pursuant to this paragraph subsection and to such the Swingline LendersLender, as their interests may appear; provided that any such payment so remitted shall be repaid promptly to such the Swingline Lender or to the General Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Borrower U.S. Borrowers for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph subsection shall not relieve the Borrower U.S. Borrowers of any default in the payment thereof.

Swingline Loan Participations. Any Swingline Lender Bank may by written notice given to the Administrative Agent require the Revolving Lenders Banks to acquire participations in all or a portion of its Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving Lenders Banks will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving LenderBank, specifying in such notice such Revolving LenderBank’s Applicable Percentage of such Swingline Loans. Each Revolving Lender Bank hereby absolutely and unconditionally agrees, promptly upon receipt of such notice from the Administrative Agent (and in any event, if such notice is received by 12:00 noon, Minneapolis timeLocal Time, on a Business Day no later than 5:00 p.m. Minneapolis time Local Time on such Business Day and if received after 12:00 noon, Minneapolis timeLocal Time, on a Business Day shall mean no later than 10:00 a.m. Minneapolis time Local Time on the immediately succeeding Business Day), to pay to the Administrative Agent, for the account of such Swingline Lenders, Bank such Revolving LenderBank’s Applicable Percentage of such Swingline Loans. Each Revolving Lender Bank acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a an Event of Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender Bank shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 2.02 with respect to Loans Advances made by such Revolving Lender Bank (and Section 2.07 2.02 shall apply, mutatis mutandis, to the payment obligations of the Revolving LendersBanks), and the Administrative Agent shall promptly pay to such Swingline Lenders Bank the amounts so received by it from the Revolving LendersBanks. The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to such Swingline LendersBanks. Any amounts received by a Swingline Lender Bank from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by such Swingline Lender Bank of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders Banks that shall have made their payments pursuant to this paragraph and to such Swingline LendersBanks, as their interests may appear; provided that any such payment so remitted shall be repaid to such Swingline Lender Bank or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof.

Swingline Loan Participations. Any Swingline Lender Bank may by written notice given to the Administrative Agent require the Revolving Lenders Banks to acquire participations in all or a portion of its Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving Lenders Banks will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving LenderBank, specifying in such notice such Revolving LenderBank’s Applicable Percentage of such Swingline Loans. Each Revolving Lender Bank hereby absolutely and unconditionally agrees, promptly upon receipt of such notice from the Administrative Agent (and in any event, if such notice is received by 12:00 noon, Minneapolis timeLocal Time, on a Business Day no later than 5:00 p.m. Minneapolis time London Time on such Business Day and if received after 12:00 noon, Minneapolis timeLondon Time, on a Business Day shall mean no later than 10:00 a.m. Minneapolis time London Time on the immediately succeeding Business Day), to pay to the Administrative Agent, for the account of such Swingline LendersBank, such Revolving LenderBank’s Applicable Percentage of such Swingline Loans. Each Revolving Lender Bank acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a an Event of Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender Bank shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 2.02 with respect to Loans Advances made by such Revolving Lender Bank (and Section 2.07 2.02 shall apply, mutatis mutandis, to the payment obligations of the Revolving LendersBanks), and the Administrative Agent shall promptly pay to such Swingline Lenders Bank the amounts so received by it from the Revolving LendersBanks. The Administrative Agent shall notify the Applicable Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to such Swingline LendersBanks. Any amounts received by a Swingline Lender Bank from the Applicable Borrower (or other party on behalf of the Applicable Borrower) in respect of a Swingline Loan after receipt by such Swingline Lender Bank of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders Banks that shall have made their payments pursuant to this paragraph and to such Swingline LendersBanks, as their interests may appear; provided that any such payment so remitted shall be repaid to such Swingline Lender Bank or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Applicable Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Applicable Borrower of any default in the payment thereof.