Swing Commitment definition

Swing Commitment means the amount set forth on Schedule 1, as such amount may be modified from time to time pursuant to the terms hereof. The Swing Commitment is a subset of the Total Tranche B Commitment and does not increase the total amount available to be borrowed hereunder.

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Swing Commitment means an amount (subject to reduction or cancellation as herein provided) equal to $3,000,000.

Swing Commitment means an amount equal to the lesser of (a) ---------------- $25,000,000 and (b) the Aggregate Commitment.

Examples of Swing Commitment in a sentence

• In addition the Swing Commitment may never be more than the Revolving Credit Commitments (exclusive of the amount of the Swing Commitment).

• The Swing Loans made by the Swing Lender shall be evidenced by a single promissory note of the Borrower in substantially the form of Exhibit B hereto, payable to the order of the Swing Lender in a principal amount equal to the Swing Commitment as originally in effect and otherwise duly completed.

• Any such reduction of the Tranche B Commitment of any Lender shall reduce the Swing Commitment of such Lender on a dollar for dollar basis.

• Any such reduction of the Total Commitment shall reduce the U.S. Swing Commitment, the Euro Swing Commitment, or the Foreign Currency Swing Commitment, as applicable, on a dollar for dollar basis if such reduction causes the Total Commitment to be less than any of the U.S. Swing Commitment, the Euro Swing Commitment, or the Foreign Currency Swing Commitment, as applicable.

• Terminate the Revolving Credit Commitments and the Swing Commitment and the obligation of the Issuing Bank to issue Letters of Credit without notice to the Borrower.

• Within the limits of Swing Line Bank's Swing Commitment, and subject to the other terms and conditions hereof, Company may borrow, repay and reborrow under this Section.

• The Swing Loan Advances made by the Swing Lender shall be evidenced by a single promissory note of the Borrower in substantially the form of Exhibit C hereto, payable to the order of the Swing Lender in a principal amount equal to the Swing Commitment as originally in effect and otherwise duly completed.

• The amount of each Swing Bank's Swing Loan will be the proportion of the amount requested which its Swing Commitment bears to the aggregate of the Swing Commitments of all Swing Banks on the date of receipt of the Swing Loan Request.

• Within the limits of Swing Line Lender's Swing Commitment, and subject to the other terms and conditions hereof, Company may borrow, repay and reborrow under this Section.

• The U.S. Swing Commitment shall expire on the Revolving Termination Date.

More Definitions of Swing Commitment

Swing Commitment means an amount (subject to reduction or cancellation as herein provided) equal to $10,000,000.

Swing Commitment means an amount (subject to reduction or cancellation as herein provided) equal to Three Million Dollars ($3,000,000).

Swing Commitment means SouthTrust's committed dollar amount of the Swing Loan, as set forth on Schedule 1.1.

Swing Commitment means, as to each Swing Bank, the commitment of such Swing Bank to make Swing Loans to the Borrowers pursuant to Section 2.20 in the aggregate principal amount outstanding not to exceed the amount set forth opposite such Swing Bank's name on Part II of Schedule I under the caption "Swing Commitment," as such amount may be reduced or modified pursuant to this Agreement.