Swing Loans definition

Swing Loans means collectively and “Swing Loan” shall mean separately all Swing Loans or any Swing Loan made by the Swingline Lender to the Borrower pursuant to Section 2.6.3 [Making Swing Loans].

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Swing Loans each is defined in Section 1.7 hereof.

Swing Loans means the Advances made pursuant to Section 2.4 hereof.

Examples of Swing Loans in a sentence

The Administrative Agent shall notify each Lender of its Ratable Share of the total of the Revolving Credit Loans and the Swing Loans (each a “Required Share”).
If a deficiency cannot be eliminated pursuant to this Section 5.7.4 [Revolving Credit Commitments] by prepayment of the Revolving Credit Loans and Swing Loans as a result of outstanding Letter of Credit Obligations, the Borrowers shall also deposit Cash Collateral with the Administrative Agent, to be held by the Administrative Agent to secure such outstanding Letter of Credit Obligations.
If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrowers shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swing Loans in an amount equal to the Swing Loan Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures specified in Section 5.14 [Cash Collateral].
All or any part of such Defaulting Lender’s participation in Letter of Credit Obligations and Swing Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Ratable Shares (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Facility Usage of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Credit Commitment.
If at any time the Revolving Facility Usage is in excess of the Revolving Credit Commitments (as used in this Section 5.7.4 [Revolving Credit Commitments], a “deficiency”), the Borrowers shall immediately make a principal payment on the Revolving Credit Loans and Swing Loans sufficient to cause the principal balance of such Loans then outstanding to be equal to or less than the Revolving Credit Commitments then in effect.

More Definitions of Swing Loans

Swing Loans each is defined in Section 2.11 hereof.

Swing Loans is defined in Section 2.1 hereof.

Swing Loans has the meaning specified in Section 2.1(b).

Swing Loans shall have the meaning set forth in Section 2.14(a) hereof.

Swing Loans each is defined in Section 1.17 hereof.

Swing Loans means, collectively, the amounts advanced from time to time by the Swing Bank to the Borrowers under the Revolving Loan Commitment in accordance with Section 2.2(g).

Swing Loans means collectively and Swing Loan shall mean separately all Swing Loans or any Swing Loan made by PNC to the Borrower pursuant to Section 2.1.2 [Swing Loan Commitment] hereof. Taxes shall mean all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Official Body, including any interest, additions to tax or penalties applicable thereto.