U.S. Swing Line Sample Clauses
The U.S. Swing Line clause establishes a short-term, revolving credit facility within a larger loan agreement, allowing borrowers to quickly access small amounts of funds as needed. Typically, this facility is provided by a designated lender (the Swing Line Lender) and is subject to specific limits and repayment terms, often requiring repayment within a few days. Its core practical function is to provide borrowers with immediate liquidity for short-term cash flow needs, reducing administrative delays and ensuring operational flexibility.
U.S. Swing Line. Subject to the terms and conditions hereof, the U.S. Swing Line Lender in its individual capacity agrees to make swing line loans in Dollars (“U.S. Swing Line Loans”) to Company on any Business Day from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding that, when added to the Dollar Equivalent of the principal amount of European Swing Line Loans then outstanding, do not exceed $75,000,000; provided, however, that in no event may the amount of any Borrowing of U.S. Swing Line Loans (A) exceed the Total Available Multicurrency Revolving Commitment immediately prior to such Borrowing (after giving effect to the use of proceeds thereof) or (B) cause the outstanding Multicurrency Revolving Loans of any Lender, when added to such Lender’s Multicurrency Revolver Pro Rata Share of the then outstanding Swing Line Loans and Multicurrency Revolver Pro Rata Share of the aggregate LC Obligations (exclusive of Unpaid Drawings relating to LC Obligations which are repaid with the proceeds of, and simultaneously with the incurrence of, Multicurrency Revolving Loans or Swing Line Loans) to exceed such Lender’s Multicurrency Revolving Commitment. Amounts borrowed by Company under this Section 2.1(c)(i)(1) may be repaid and, to but excluding the Revolver Termination Date, reborrowed. The U.S. Swing Line Loans shall be made in Dollars and maintained as Base Rate Loans and, notwithstanding Section 2.6, shall not be entitled to be converted into any other Type of Loan.
U.S. Swing Line. The US Borrower shall pay to the US Swing Line Lender for its own account a standby fee in relation to the US Swing Line Commitment based on the unused portion of the US Swing Line payable in US Dollars which shall be in the amount determined by the US Swing Line Lender to be equal to the sum of the products for each day during the Availability Period of the US Swing Line of (a) the amount by which the US Swing Line Commitment exceeds the aggregate Credit Amount of all Advances under the US Swing Line at the end of the day multiplied by (b) the fraction of (i) the Applicable Margin divided by (ii) 360.
U.S. Swing Line