Canadian Swing Loans definition

Canadian Swing Loans are each defined in Section 2.10(a).

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Canadian Swing Loans upon the applicable Canadian Borrower's request from time to time during the Canadian Revolving Period, provided that (i) the Canadian Facility Usage shall never exceed the Canadian Maximum Credit Amount, and (ii) the aggregate amount of Canadian Swing Loans outstanding shall never exceed the Canadian Swing Sublimit. The aggregate amount of all Canadian Swing Loans in any Borrowing must be an integral multiple of C $100,000 which equals or exceeds C $1,000,000 or must equal the unadvanced portion of the Canadian Maximum Credit Amount. The obligation of each Canadian Borrower to repay to Canadian Swing Lender the aggregate amount of all Canadian Swing Loans made by Canadian Swing Lender, together with interest accruing in connection therewith, shall be evidenced by a separate promissory note (herein called each Canadian Borrower's "Canadian Swing Note") made by each Canadian Borrower payable to the order of Canadian Swing Lender in the form of Exhibit A-2 with appropriate insertions. The amount of principal owing on each Canadian Swing Note at any given time shall be the aggregate amount of all Canadian Swing Loans theretofore made by Canadian Swing Lender minus all payments of principal theretofore received by Canadian Swing Lender on such Canadian Swing Note (including as a result of any refinancing pursuant to Section 1.11). Interest on each Canadian Swing Note shall accrue and be due and payable as provided herein and therein. Each Canadian Swing Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Conversion Date. Subject to the terms and conditions hereof, each Canadian Borrower may borrow, repay, and reborrow Canadian Swing Loans under the Canadian Agreement during the Canadian Revolving Period.

Canadian Swing Loans has the meaning given it in Section 1.1(b) of the Canadian Agreement.

Examples of Canadian Swing Loans in a sentence

• Within the limits set forth in the first sentence of this clause (i), amounts of Canadian Swing Loans repaid may be reborrowed under this clause (i).

• Each Canadian Swing Loan shall be a Base Rate Loan for Canadian Swing Loans denominated in Dollars and a Canadian Prime Rate Loan for Canadian Swing Loans denominated in Canadian Dollars and must, in either case, be repaid as provided herein, but in any event must be repaid in full on the Revolving Termination Date.

• The Borrowers’ Agent shall give the Swing Line Lender prior notice (which may be written or oral), no later than 1:00 p.m. (Cincinnati time) on the date upon which the Borrowers’ Agent requests that any Swing Loan be made, of the amount and date of such Swing Loan, the Interest Period requested therefore, and, with respect to Canadian Swing Loans, the requested currency of Canadian Dollars or U.S. Dollars.

• Any prepayments pursuant to subsection 1.8(c) or 1.8(d) by a Canadian Credit Party (other than Holdings, US Borrower or any Subsidiary of US Borrower) shall be applied first to prepay outstanding Canadian Swing Loans and second to prepay outstanding Canadian Revolving Loans.

• The amount of each such prepayment shall be applied then to the U.S. Revolving Loans and the Canadian Revolving Loans on a ratable basis (in accordance with the outstanding principal amounts thereof) until all outstanding Revolving Loans are paid in full and then to the U.S. Swing Loans and the Canadian Swing Loans on a ratable basis (in accordance with the outstanding principal amounts thereof).

• The amount of each such prepayment shall be applied first to the U.S. Revolving Loans and Canadian Revolving Loans on a ratable basis (in accordance with the outstanding principal amounts thereof) until all outstanding Revolving Loans are paid in full and then to the U.S. Swing Loans and Canadian Swing Loans on a ratable basis (in accordance with the outstanding principal amounts thereof).

• The Canadian Swing Loans shall be secured by Canadian Agent’s Liens, constitute Canadian Advances and Canadian Obligations hereunder, and bear interest at the rate applicable from time to time to Canadian Advances that are Base Rate Loans.

• The aggregate amount of all Canadian Swing Loans in any Borrowing must be an integral multiple of C $100,000 which equals or exceeds C $1,000,000 or must equal the unadvanced portion of the Canadian Maximum Credit Amount.

• Subject to the terms and conditions hereof, each Canadian Borrower may borrow, repay, and reborrow Canadian Swing Loans under the Canadian Agreement during the Canadian Revolving Period.

• The obligation of each Canadian Borrower to repay to each Lender the aggregate amount of all Canadian Loans (excluding Canadian Swing Loans) made by such Lender to such Borrower, together with interest accruing in connection therewith, shall be evidenced by a separate promissory note (herein called such Lender's "Canadian Note") made, by each Canadian Borrower payable to the order of such Lender in the form of Exhibit A-1 with appropriate insertions.

More Definitions of Canadian Swing Loans

Canadian Swing Loans means Swing Loans made to ASW.

Canadian Swing Loans means collectively and “Canadian Swing Loan” shall mean separately all Advances made by PNC Canada to Canadian Borrowers pursuant to Section 2.25(b) hereof.

Canadian Swing Loans means collectively all Canadian Swing Loans made by PNC Canada to the Canadian Borrower pursuant to 2.1.4 [Canadian Swing Loans], each of which is referred to herein individually as a Canadian Swing Loan.

Canadian Swing Loans as defined in Section 2.3(a).