Common use of The Swing Line Loans Clause in Contracts

The Swing Line Loans. Subject to the terms and conditions hereof, each Swing Line Lender may in its sole discretion make Swing Line Loans denominated in Dollars to the Company or, subject to the mutual agreement of such Swing Line Lender and a Borrower, any other Borrower, in each case from time to time prior to the Revolving Termination Date in an aggregate principal amount at any one time outstanding not to exceed the Swing Line Sublimit; provided, that, (a) after giving effect to any such Swing Line Loan, the Total Revolving Usage shall not exceed the Aggregate Revolving Commitment, and (b) unless otherwise agreed to by the applicable Swing Line Lender in its sole discretion, after giving effect to the extension of all Swing Line Loans, the aggregate outstanding amount of all Swing Line Loans of any Swing Line Lender shall not exceed such Swing Line Lender’s Swing Line Commitment. Prior to the Revolving Termination Date, each Borrower may use the Swing Line Sublimit by borrowing, prepaying the Swing Line Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. All Swing Line Loans shall bear interest at the Swing Line Rate and shall not be entitled to be converted into Loans that bear interest at any other rate.

Appears in 2 contracts

Samples: Credit Agreement (Oshkosh Corp), Credit Agreement (Oshkosh Corp)

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The Swing Line Loans. Subject to the terms and conditions hereinafter set forth, including without limitation, §12 hereof, each Swing Line Lender may upon notice from the Borrower to the Administrative Agent in its sole discretion accordance with §2.9.2 herein, the Administrative Agent agrees to make Swing Line Loans denominated in Dollars to the Company or, subject to the mutual agreement of such Swing Line Lender and a Borrower, any other Borrower, in each case Borrower from time to time prior to on any Business Day during the Revolving Termination period from the date hereof until the Maturity Date in an aggregate principal amount at any one time outstanding not to exceed at any time outstanding $10,000,000 (the Swing Line Sublimit; Facility”), provided, thathowever, (a) after giving effect to any such that while the outstanding amount of all outstanding Swing Line Loan, the Total Loans and outstanding Revolving Usage shall not Credit Loans made by a Lender may exceed the Aggregate Revolving such Lender’s Commitment, and (b) unless otherwise agreed to by the applicable Swing Line Lender in its sole discretion, after giving effect to the extension of all Swing Line Loans, the aggregate outstanding amount of all Swing Line Loans of any Swing Line Lender outstanding shall not exceed such the lesser of (a) the Total Commitment and (b) the Borrowing Base, less the sum of all Revolving Credit Loans outstanding and the Maximum Drawing Amount and all Unpaid Reimbursement Obligations. No Swing Line Lender’s Loan shall be used for the purpose of funding the payment of principal of any other Swing Line CommitmentLoan. Prior to the Revolving Termination Date, each Borrower may use the Each Swing Line Sublimit by borrowing, prepaying the Borrowing shall be in an amount of $500,000 or an integral multiple of $100,000 in excess thereof. Swing Line Loans in whole or in partmust be Base Rate Loans only, and reborrowingmay not be LIBOR Rate Loans and, all in accordance with the terms and conditions hereof. All prior to a Settlement, interest on such Swing Line Loans shall bear interest at be for the account of the Administrative Agent. For purposes of §3 through §16 of this Credit Agreement, unless otherwise specified, the term “Revolving Credit Loans” shall be deemed to include “Swing Line Rate and shall not be entitled to be converted into Loans that bear interest at any other rateLoans”.

Appears in 2 contracts

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (SeaCube Container Leasing Ltd.)

The Swing Line Loans. Subject to the terms and conditions hereinafter set forth, including without limitation, §12 hereof, each Swing Line Lender may upon notice from the Borrower to the Agent in its sole discretion accordance with §2.9.2 herein, the Agent agrees to make Swing Line Loans denominated in Dollars to the Company or, subject to the mutual agreement of such Swing Line Lender and a Borrower, any other Borrower, in each case Borrower from time to time prior to on any Business Day during the Revolving Termination period from the date hereof until the Maturity Date in an aggregate principal amount at any one time outstanding not to exceed at any time outstanding $10,000,000 (the Swing Line Sublimit; Facility”), provided, thathowever, (a) after giving effect to any such that while the outstanding amount of all outstanding Swing Line Loan, the Total Loans and outstanding Revolving Usage shall not Credit Loans made by a Lender may exceed the Aggregate Revolving such Lender’s Commitment, and (b) unless otherwise agreed to by the applicable Swing Line Lender in its sole discretion, after giving effect to the extension of all Swing Line Loans, the aggregate outstanding amount of all Swing Line Loans of any Swing Line Lender outstanding shall not exceed such the lesser of (a) the Total Commitment and (b) the Borrowing Base, less the sum of all Revolving Credit Loans outstanding and the Maximum Drawing Amount and all Unpaid Reimbursement Obligations. No Swing Line Lender’s Loan shall be used for the purpose of funding the payment of principal of any other Swing Line CommitmentLoan. Prior to the Revolving Termination Date, each Borrower may use the Each Swing Line Sublimit by borrowing, prepaying the Borrowing shall be in an amount of $500,000 or an integral multiple of $100,000 in excess thereof. Swing Line Loans in whole or in partmust be Base Rate Loans only, and reborrowingmay not be LIBOR Rate Loans and, all in accordance with the terms and conditions hereof. All prior to a Settlement, interest on such Swing Line Loans shall bear interest at be for the account of the Agent. For purposes of §3 through §16 of this Credit Agreement, unless otherwise specified, the term “Revolving Credit Loans” shall be deemed to include “Swing Line Rate and shall not be entitled to be converted into Loans that bear interest at any other rateLoans”.

Appears in 2 contracts

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (Seacastle Inc.)

The Swing Line Loans. Subject to the terms and conditions hereof, each the Swing Line Lender may in its sole discretion agrees to make Swing Line Loans denominated in Dollars to the Company or, subject to the mutual agreement of such Swing Line Lender and a Borrower, any other Borrower, in each case either Group or UWLIC from time to time prior to the Revolving Facility Termination Date in an aggregate principal amount at any one time outstanding not to exceed $10,000,000 (the Swing Line Sublimit"SWING LINE COMMITMENT"); providedPROVIDED, that, (a) that after giving effect to any such Swing Line Loan, the Total principal amount outstanding of all Revolving Usage shall Loans and Swing Line Loans at such time would not exceed the Aggregate Revolving CommitmentCommitment at such time; PROVIDED, and (b) unless otherwise agreed to by further, that the applicable Swing Line Lender in its sole discretion, after giving effect to principal amount outstanding of the extension of all Swing Line Loans, the aggregate outstanding amount of all Swing Line Loans and of any Swing Line Lender shall not exceed such the Swing Line Lender’s 's Revolving Loans would not exceed the Swing Line Lender's Commitment. Prior to the Revolving Facility Termination Date, each Borrower the Borrowers may use the Swing Line Sublimit Commitment by borrowing, prepaying the Swing Line Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. All Swing Line Loans shall bear interest at the Swing Line Floating Rate and shall not be entitled to be converted into Loans that bear interest at any other rate. At the Swing Line Lender's request, the Swing Line Loans shall be evidenced by a Swing Line Note made payable thereto.

Appears in 1 contract

Samples: Credit Agreement (American Medical Security Group Inc)

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The Swing Line Loans. Subject to the terms and conditions hereof, each the Swing Line Lender may in its sole discretion Bank agrees to make Swing Line Loans denominated in Dollars loans to the Company or(each such loan, subject to the mutual agreement of such Swing Line Lender and a Borrower, any other Borrower, in each case "SWING LINE LOAN") from time to time prior on any Business Day during the period from the Closing Date to the Revolving Swing Line Termination Date in an aggregate principal amount at any one time outstanding not to exceed $5,000,000 (the Swing Line Sublimit"SWING LINE LOAN COMMITMENT"); providedPROVIDED, that, (a) after giving effect to any such Swing Line Loan, the Total Revolving Usage shall not exceed the Aggregate Revolving Commitment, and (b) unless otherwise agreed to by the applicable Swing Line Lender in its sole discretion, after giving effect to the extension Borrowing of all Swing Line Loans, the aggregate Effective Amount of all outstanding amount Swing Line Loans shall not at any time exceed the Swing Line Loan Commitment; AND PROVIDED FURTHER, that the Effective Amount of all outstanding Revolving Loans, the Effective Amount of all Swing Line Loans and the Effective Amount of any Swing Line Lender all L/C Obligations shall not at any time exceed such Swing Line Lender’s Swing Line Commitmentthe combined Revolving Loan Commitments. Prior to the Revolving Swing Line Termination Date, each Borrower the Company may use the Swing Line Sublimit Loan Commitment by borrowing, prepaying the Swing Line Loans in whole or in part, and reborrowing, all in accordance 27 35 with the terms and conditions hereof. All Swing Line Loans shall bear interest at the Swing Line Rate and shall not be entitled to be converted into Loans that bear interest at any other rate.

Appears in 1 contract

Samples: Credit Agreement (Waterlink Inc)

The Swing Line Loans. Subject to the terms and conditions hereof, each the Swing Line Lender may in its sole discretion agrees to make Swing Line Loans denominated in Dollars to the Company or, subject to the mutual agreement of such Swing Line Lender and a Borrower, any other Borrower, in each case AMS from time to time prior to the Revolving Facility Termination Date in an aggregate principal amount at any one time outstanding not to exceed $10,000,000 (the "Swing Line SublimitCommitment"); provided, that, (a) that after giving effect to any such Swing Line Loan, the Total principal amount outstanding of all Revolving Usage shall Loans and Swing Line Loans at such time would not exceed the Aggregate Revolving CommitmentCommitment at such time; provided, and (b) unless otherwise agreed to by further, that the applicable Swing Line Lender in its sole discretion, after giving effect to principal amount outstanding of the extension of all Swing Line Loans, the aggregate outstanding amount of all Swing Line Loans and of any Swing Line Lender shall not exceed such the Swing Line Lender’s 's Revolving Loans would not exceed the Swing Line Lender's Commitment. Prior to the Revolving Facility Termination Date, each Borrower AMS may use the Swing Line Sublimit Commitment by borrowing, prepaying the Swing Line Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. All Swing Line Loans shall bear interest at the Swing Line Floating Rate and shall not be entitled to be converted into Loans that bear interest at any other rate. At the Swing Line Lender's request, the Swing Line Loans shall be evidenced by a Swing Line Note made payable thereto.

Appears in 1 contract

Samples: Credit Agreement (American Medical Security Group Inc)

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