Swing Loan Commitment definition

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.

Swing Loan Commitment means the obligation of the Swing Loan Lender to make or continue Swing Loans hereunder in an aggregate principal amount up to but not exceeding $10.0 million, as the same may be reduced or terminated pursuant to Section 2.04 or Section 10, it being understood that the Swing Loan Commitment is part of the Revolving Credit Commitment of the Swing Loan Lender, rather than a separate, independent commitment.

Swing Loan Commitment means PNC Bank’s Dollar Swing Loan Commitment or its Optional Currency Swing Loan Commitment, as applicable. Swing Loan Conversion Date shall have the meaning assigned to such term in Section 2.9.4. Swing Loan Notes and Swing Loan Note shall have the meaning assigned to such term in Section 2.9.3. Swing Loan Repayment Date shall have the meaning assigned to such term in Section 2.9.2.

Examples of Swing Loan Commitment in a sentence

• These settlement procedures are established solely as a matter of administrative convenience, and nothing contained in this Section 5.11 shall relieve the Lenders of their obligations to fund Revolving Credit Loans on dates other than a Settlement Date pursuant to Section 2.1.2 [Swing Loan Commitment].

• The Obligation of the Borrower to repay the aggregate unpaid principal amount of the Revolving Credit Loans and Swing Loans made to it by each Lender, together with interest thereon, shall be evidenced by a revolving credit Note and a swing Note, dated the Closing Date payable to the order of such Lender in a face amount equal to the Revolving Credit Commitment or Swing Loan Commitment, as applicable, of such Lender.

• The obligation of the Borrower to repay the unpaid principal amount of the Swing Loans made to it by PNC Bank together with interest thereon shall be evidenced by a demand promissory note of the Borrower dated the Closing Date in substantially the form attached hereto as Exhibit 1.1(S) payable to the order of PNC Bank in a face amount equal to the Swing Loan Commitment.

• In the event the Borrowers reduce the Revolving Credit Commitments to less than the outstanding principal amount of the Dollar Swing Loans or the Optional Currency Swing Loans, the Borrowers shall immediately repay the amount by which such outstanding Swing Loans exceeds the Dollar Swing Loan Commitment or the Optional Currency Swing Loan Commitment, as applicable, as so reduced plus accrued interest thereon.

• In the event the Revolving Credit Commitments are terminated in accordance with the terms hereof, each of the Dollar Swing Loan Commitment and the Optional Currency Swing Loan Commitment shall also be terminated automatically.

More Definitions of Swing Loan Commitment

Swing Loan Commitment means the lesser of (a) $15,000,000 and (b) --------------------- the aggregate amount of the unused Commitments, as such amount may be reduced from time to time pursuant to Section 2.10.

Swing Loan Commitment means the commitment of the Swing Loan Lender to make Swing Loans, as such commitment may be (a) reduced from time to time pursuant to Sections 2.7 and 2.9 and (b) reduced or increased from time to time pursuant to assignments by the Swing Loan Lender pursuant to Section 11.4. The original amount of the Swing Loan Commitment is equal to $3,000,000.

Swing Loan Commitment has the meaning assigned to such term in Section 2.2.1 [Swing Loans].

Swing Loan Commitment means the obligation of the Swing Bank in accordance with Section 2.1(d) to make Swing Loans in the aggregate amount of up to $15,000,000, as such amount may be reduced from time to time pursuant to this Agreement.

Swing Loan Commitment means the Swingline Lender’s commitment to make Swing Loans pursuant to Section 2.1(d).

Swing Loan Commitment the sum of $25,000,000.00, as the same may be changed from time to time in accordance with the terms of this Agreement.

Swing Loan Commitment means the Swing Lender’s commitment to make Swing Loans to the Borrowers pursuant to Section 2.1.2 in an aggregate principal amount up to $35,000,000.