Common use of The Swing Line Loans Clause in Contracts

The Swing Line Loans. The Borrower may request Swing Line Bank to make, and Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, advances ("Swing Line Advances") to the Borrower from time to time on any Business Day during the period from the date hereof until the Maturity Date in an aggregate amount not to exceed at any time outstanding the lesser of (i) the Commitment, less the sum of (A) the aggregate principal amount of Revolving Credit Advances then outstanding plus (B) the aggregate principal amount of all Reimbursement Obligations then outstanding, and (ii) $10,000,000 (assuming compliance with all conditions to drawing) (the "Swing Line Facility"). Each Swing Line Advance shall be in an amount not less than $100,000 and in multiples thereof. Each Swing Line Advance shall be a Base Rate Advance. Within the limits of the Swing Line Facility, Swing Line Advances may be repaid and then reborrowed.

Appears in 2 contracts

Samples: Credit Agreement (Sunterra Corp), Credit Agreement (Signature Resorts Inc)

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The Swing Line Loans. The Borrower may request Swing Line Bank to make, -------------------- and Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, advances ("Swing Line Advances") to the Borrower from time to time on any ------------------- Business Day during the period from the date hereof until the Facility A Maturity Date in an aggregate amount not to exceed at any time outstanding the lesser of (i) $5,000,000, and (ii) the Facility A Commitment, less the sum of (A) the aggregate principal amount of Revolving Credit Facility A Advances then outstanding plus ---- (B) the aggregate principal amount of all Reimbursement Obligations then outstanding, and (ii) $10,000,000 outstanding (assuming compliance with all conditions to drawing) (the "Swing ----- Line Facility"). Each Swing Line Advance shall be in an amount not less than ------------- $100,000 and in multiples thereof. Each Swing Line Advance shall be a Base Rate Advance. Within the limits of the Swing Line Facility, Swing Line Advances may be repaid and then reborrowed.

Appears in 2 contracts

Samples: Credit Agreement (Compucom Systems Inc), Credit Agreement (Safeguard Scientifics Inc Et Al)

The Swing Line Loans. The Borrower may request Swing Line Bank to -------------------- make, and Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, advances ("Swing Line Advances") to the Borrower from ------------------- time to time on any Business Day during the period from the date hereof until the Maturity Date in an aggregate amount not to exceed at any time outstanding the lesser of (i) $10,000,000, and (ii) the Commitment, less the sum of (A) the aggregate principal amount of Revolving Credit Advances then outstanding plus ---- (B) the aggregate principal amount of all Reimbursement Obligations then outstanding, and (ii) $10,000,000 outstanding (assuming compliance with all conditions to drawing) (the "Swing Line Facility"). Each Swing Line Advance shall be in ------------------- an amount not less than $100,000 and in multiples thereof. Each Swing Line Advance shall be a Base Rate Advance. Within the limits of the Swing Line Facility, Swing Line Advances may be repaid and then reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Signature Resorts Inc)

The Swing Line Loans. The Borrower may request Swing Line Bank to make, and Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, advances ("Swing Line AdvancesSWING LINE ADVANCES") to the Borrower from time to time on any Business Day during the period from the date hereof until the Facility A Maturity Date in an aggregate amount not to exceed at any time outstanding the lesser of (i) $5,000,000, and (ii) the CommitmentBorrowing Base, less the sum of (A) the aggregate principal amount of Revolving Credit Facility A Advances then outstanding plus PLUS (B) the aggregate principal amount of all Reimbursement Obligations then outstanding, and (ii) $10,000,000 outstanding (assuming compliance with all conditions to drawing) (the "Swing Line FacilitySWING LINE FACILITY"). Each Swing Line Advance shall be in an amount not less than $100,000 and in multiples thereof. Each Swing Line Advance shall be a Base Rate Advance. Within the limits of the Swing Line Facility, Swing Line Advances may be repaid and then reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Safeguard Scientifics Inc Et Al)

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The Swing Line Loans. The Borrower may request mayrequest Swing Line Bank to -------------------- make, and Swing Line Bank agrees to make, on the terms and conditions hereinafter set forth, advances ("Swing Line Advances") to the Borrower from ------------------- time to time on any Business Day during the period from the date hereof until the Facility A Maturity Date in an aggregate amount not to exceed at any time outstanding the lesser of (i) $5,000,000, and (ii) the CommitmentBorrowing Base, less the sum of (A) the aggregate principal amount of Revolving Credit Facility A Advances then outstanding plus (B) the aggregate principal amount of all Reimbursement ---- Obligations then outstanding, and (ii) $10,000,000 outstanding (assuming compliance with all conditions to drawing) (the "Swing Line Facility"). Each Swing Line Advance shall be in an ------------------- amount not less than $100,000 and in multiples thereof. Each Swing Line Advance shall be a Base Rate Advance. Within the limits of the Swing Line Facility, Swing Line Advances may be repaid and then reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Compucom Systems Inc)

The Swing Line Loans. The Borrower may request Swing Line Bank to make, and Swing Line Bank agrees may, if in its sole discretion it elects to do so, make, on the terms and conditions hereinafter set forth, advances loans ("Swing Line AdvancesLoans") to the Borrower from time to time on any Business Day during the period from the date hereof until the Maturity Date in an aggregate amount not to exceed at any time outstanding the lesser of (i) the Commitment, less $10,000,000 and (ii) the sum of (A) the Commitment, MINUS (B) the aggregate principal amount of Revolving Credit Advances then outstanding plus MINUS (BC) the aggregate principal amount of all Reimbursement Obligations then outstanding, and (ii) $10,000,000 outstanding (assuming compliance with all conditions to drawing) (the "Swing Line Facility")) minus (D) the aggregate principal amount of all Bid Rate Advances then outstanding. Each Swing Line Advance shall be in an amount not less than $100,000 and in multiples thereof. Each Swing Line Advance shall be a Base Rate Advance50,000. Within the limits of the Swing Line Facility, so long as the Swing Line Bank, in its sole discretion, elects to make Swing Line Advances, Swing Line Advances may be repaid and then reborrowed.

Appears in 1 contract

Samples: Credit Agreement (La Quinta Inns Inc)

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