Swingline Sublimit Sample Clauses
A Swingline Sublimit clause establishes a specific, typically lower, maximum borrowing amount available under a larger credit facility, often for short-term or same-day loans. This sublimit applies to quick-access loans, such as those needed to cover immediate cash flow needs, and is usually subject to stricter conditions or shorter repayment periods than the main facility. Its core function is to provide borrowers with rapid, limited access to funds while managing the lender’s risk exposure for these expedited advances.
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Swingline Sublimit. If the Revolving Committed Amount is reduced below the then current Swingline Sublimit, the Swingline Sublimit shall automatically be reduced by an amount such that the Swingline Sublimit equals the Revolving Committed Amount.
Swingline Sublimit. During the Commitment Period, subject to the terms and conditions hereof, the Swingline Lender, in its individual capacity, agrees to make certain revolving credit loans to the Borrower in Dollars (each a “Swingline Loan” and, collectively, the “Swingline Loans”) for the purposes hereinafter set forth; provided, however, (i) the aggregate amount of Swingline Loans outstanding at any time shall not exceed FIFTEEN MILLION DOLLARS ($15,000,000) (the “Swingline Sublimit”), and (ii) the sum of the outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations shall not exceed the Revolving Committed Amount. Swingline Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Swingline Sublimit. During the Commitment Period, subject to the terms and conditions hereof, the Swingline Lender, in its individual capacity, may, in its discretion and in reliance upon the agreements of the other Lenders set forth in this Section 2.3, make certain revolving credit loans to the Borrower (each a “Swingline Loan” and, collectively, the “Swingline Loans”) for the purposes hereinafter set forth; provided, however, (i) the aggregate principal amount of Swingline Loans outstanding at any time shall not exceed TEN MILLION DOLLARS ($10,000,000) (the “Swingline Sublimit”), (ii) with regard to each Revolving Lender individually (other than the Swingline Lender in its capacity as such), such Revolving Lender’s Revolving Exposure shall not exceed its Commitment and (iii) with regard to the Revolving Lenders collectively, the Aggregate Revolving Exposure shall not exceed Revolving Committed Amount then in effect. Swingline Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Swingline Sublimit. The definition of "Swingline Sublimit" set forth in Section 1.01 of the Credit Agreement shall be hereby amended by deleting such definition in its entirety and replacing it with the following:
Swingline Sublimit. The reference to “$100,000,000” in clause (i) of the first sentence in Section 2.05(a) of the Existing Credit Agreement is hereby amended to refer instead to “the Swingline Sublimit”.