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.
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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.
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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).

  • 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.

  • 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).

  • 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 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).

  • 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 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.

  • 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.

  • Subject to the terms and conditions hereof, Canadian Swing Lender agrees to make loans to each Canadian Borrower (herein called "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.


More Definitions of Canadian Swing Loans

Canadian Swing Loans has the meaning given it in Section 1.1(b) of the Canadian Agreement.
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Canadian Swing Loans means Swing Loans made to ASW.
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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.
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Related to Canadian Swing Loans

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Swing Loans each is defined in Section 1.7 hereof.

  • Revolving Loans has the meaning set forth in Section 2.1(a).

  • U.S. Swingline Loan means a Loan made pursuant to Section 2.04 as a “U.S. Swingline Loan.”

  • U.S. Revolving Loans has the meaning set forth in Section 2.1(a).

  • Swing Loan Lender means PNC, in its capacity as lender of the Swing Loans.

  • Swingline Loans as defined in Section 2.6.

  • Canadian Revolving Commitment means the commitment of a Lender to make or otherwise fund any Canadian Revolving Loan and to acquire participations in Canadian Letters of Credit and Swing Line Loans hereunder and “Canadian Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Canadian Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Canadian Revolving Commitments as of the Restatement Date is $10,000,000.

  • Revolving Credit Loans as defined in Section 2.1.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment or a Revolving Loan.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Canadian Lenders means the Lenders having Canadian Commitments from time to time or at any time. Any Person may be a Canadian Lender only if it is a financial institution that is listed on Schedule I, II or III of the Bank Act (Canada) or is not a foreign bank for purposes of the Bank Act (Canada), and if such financial institution is not resident in Canada and is not deemed to be resident in Canada for purposes of the Income Tax Act (Canada), then such financial institution deals at arm’s length with each Canadian Loan Party for purposes of the Income Tax Act (Canada).

  • Swing Loan Commitment means PNC Bank’s commitment to make Swing Loans to the Borrower pursuant to Section 2.1.2 hereof in an aggregate principal amount up to $10,000,000.

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Swing Line Loans as defined in Section 2.6.

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

  • Other Revolving Credit Loans means one or more Classes of Revolving Credit Loans that result from a Refinancing Amendment.

  • Swing Loan Exposure means, as of any date of determination with respect to any Lender, such Lender’s Pro Rata Share of the Swing Loans on such date.