Swingline Loan Subfacility. (a) SWINGLINE COMMITMENTCOMMITMENT. Subject to the terms and conditions of this Section 2.18, the Swingline Lender, in its individual capacity, agrees to make certain revolving credit loans to the Borrower (each a "SWINGLINE LOAN" and, collectively, the "SWINGLINE LOANS") from time to time during the term hereof; provided, however, that the aggregate amount of Swingline Loans outstanding at any time shall not exceed the lesser of (i) FIFTY MILLION DOLLARS ($50,000,000), and (ii) the aggregate Commitments less all Loans then outstanding (the "SWINGLINE COMMITMENT"). Subject to the limitations set forth herein, any amounts repaid in respect of Swingline Loans may be reborrowed. (b) SWINGLINE BORROWINGSBORROWINGS.
Appears in 1 contract
Sources: Revolving Credit Agreement (Equity Residential Properties Trust)
Swingline Loan Subfacility. (a) SWINGLINE COMMITMENTCOMMITMENTCOMMITMENT. Subject to the terms and conditions of this Section 2.18, the Swingline Lender, in its individual capacity, agrees to make certain revolving credit loans to the Borrower (each a "SWINGLINE LOAN" and, collectively, the "SWINGLINE LOANS") from time to time during the term hereof; providedPROVIDED, howeverHOWEVER, that the aggregate amount of Swingline Loans outstanding at any time shall not exceed the lesser of (i) FIFTY SEVENTY-FIVE MILLION DOLLARS ($50,000,00075,000,000), and (ii) the aggregate Commitments less all Loans then outstanding and Letter of Credit Usage (the "SWINGLINE COMMITMENT"). Subject to the limitations set forth herein, any amounts repaid in respect of Swingline Loans may be reborrowed.
(b) SWINGLINE BORROWINGSBORROWINGS.
Appears in 1 contract
Sources: Revolving Credit Agreement (Equity Residential Properties Trust)