Swing Loan Available Credit definition

Swing Loan Available Credit means, at any time, the amount by which the outstanding balance of the Swing Loans is less than the lesser of (i) $25,000,000 or (ii) the Available Credit.
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Swing Loan Available Credit means the Ratable Portion of the Available Credit of the Lender that is the Swing Loan Bank.
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Swing Loan Available Credit means the Swing Bank's Ratable Portion of the Available Credit.
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Examples of Swing Loan Available Credit in a sentence

  • The Swing Loans of Swing Loan Lender shall be evidenced by a promissory note (a "Swing Loan Note") --------------- substantially in the form set forth in Exhibit A-2, with appropriate insertions, payable to the order of Swing Loan Lender in a face principal amount equal to the Swing Loan Available Credit.

  • Lender, in its sole discretion, upon ----------- Borrower's request, may make loans (each a "Swing Loan") to Borrower from time ---------- to time provided that the aggregate amount thereof outstanding at any time shall not exceed the Swing Loan Available Credit and any such loans shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin for LIBO Rate Loans in effect from day to day.


More Definitions of Swing Loan Available Credit

Swing Loan Available Credit means, at any time, the amount by which the outstanding balance of the Swing Loans is less than the lesser of (i) $10,000,000 or (ii) the Available Credit.
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Swing Loan Available Credit is defined in Section 2.1.3. --------------------------- -------------
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Swing Loan Available Credit means, at any time, the amount by which the aggregate outstanding balance of the Swing Loans is less than the lesser of (a) $15,000,000 or (b) the amount by which the aggregate of the Revolving Loan Commitment Amount and the revolving loan commitments of all Section 7.2.2(b) Lenders is greater than the total of the following: (i) the outstanding balance of the Revolving Loans, plus (ii) the outstanding balance of the other ---- Indebtedness of Borrower issued on terms and conditions substantially identical to the Revolving Loans, plus letter of credit obligations permitted under ---- Section 7.2.2(h). ----------------
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Swing Loan Available Credit means the lesser of (i) $3,000,000 or (ii) the Swingline Lender's Ratable Portion of the Available Credit.
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Related to Swing Loan Available Credit

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Refunded Swing Line Loans as defined in Section 2.3(b)(iv).

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • 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.

  • Swing Line Loan Commitment Amount means, on any date, $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Swing Line Loan Commitment means the commitment of Swing Line Lender to make Swing Line Loans to Company pursuant to subsection 2.1A(iii).

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • 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 Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Refunded Swing Line Loan has the meaning ascribed to it in Section 1.1(c)(iii).

  • Swing Line Loans as defined in Section 2.6.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Swing Loans each is defined in Section 1.7 hereof.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Swing Line Lenders means each of the Lenders that has a Swing Line Commitment on Schedule 2.1 hereto, or any successor swing line lender hereunder.