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Swing Loans
Swing Loans contract clause examples

Loans. Commencing in December 2021, HLTT has loaned a total of Two Hundred Fifty Thousand Dollars ($250,000) to PTG and PBI jointly. Within one week after a Q Code is issued to PBI providing for reimbursement of patient sales of Amniobind at a rate equal to or exceeding $100 per cm2, HLTT shall pay $250,000 to PTG as a loan to PTG and PBI jointly (the “Q Code Loan”). The existing $250,000 obligation and the Q Code Loan, if it occurs, are identified herein as “PTG Loans”. The PTG Loans shall be the joint and several obligations of PTG and PBI, except that if HLTT or HWC purchases the outstanding capital stock of PBI, then the PTG Loans will be the obligation of PTG solely. The PTG Loans will not bear interest.

Loans. Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time during the Revolving Credit Period; provided that, immediately after each such loan is made, # the aggregate outstanding principal amount of such Lender’s Loans to the Borrower shall not exceed its Commitment and # the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments. Within the foregoing limits, the Borrower may borrow under this subsection, prepay Loans to the extent permitted by [Section 2.10] and reborrow at any time during the Revolving Credit Period under this subsection.

Loans. Each Revolving Loan borrowing, each payment or prepayment of principal of any Revolving Loan, each payment of fees (other than administrative fees payable pursuant to [Section 3.4(c)] and [Section 3.4(d)], the Issuing [[Organization A:Organization]] Fees and, as set forth in Section 3.4(a), the Facility Fees), each reduction of the Revolving Committed Amount, and each conversion or continuation of any Revolving Loan, shall (except as otherwise provided in [Section 3.11]) be allocated pro rata among the Lenders in accordance with the respective Revolving Loan Commitment Percentages of the Lenders (or, if the Commitments of the Lenders have expired or been terminated, in accordance with the respective principal amounts of the outstanding Loans and Participation Interests of the Revolving Loan Lenders); provided that, if any [[Organization A:Organization]] shall have failed to pay its applicable pro rata share of any Revolving Loan, then any amount to which such [[Organization A:Organization]] would otherwise be entitled pursuant to this Section 3.7 shall instead be payable to the Administrative Agent until the share of such Loan not funded by such [[Organization A:Organization]] has been repaid; provided further, that in the event any amount paid to any [[Organization A:Organization]] pursuant to this Section 3.7 is rescinded or must otherwise be returned by the Administrative Agent, each [[Organization A:Organization]] shall, upon the request of the Administrative Agent, repay to the Administrative Agent the amount so paid to such [[Organization A:Organization]], with interest for the period commencing on the date such payment is returned by the Administrative Agent until the date the Administrative Agent receives such repayment at a rate per annum equal to, during the period to, but excluding, the date two Business Days after such request, the Federal Funds Rate, and thereafter, at the Base Rate plus two percent (2%) per annum.

Loans Make any loans or other advances of money to any Person, except: # advances to an officer or employee for salary, travel expenses, relocation/moving costs, commissions and similar items in the Ordinary Course of Business; # prepaid expenses and extensions of trade credit made in the Ordinary Course of Business; # deposits with financial institutions permitted hereunder; # as long as no Default or Event of Default exists or would result therefrom, intercompany loans or advances from a Borrower to another Borrower; and # as long as a Restriction Trigger Period is not in effect or would result therefrom, intercompany loans or advances by a Borrower to a Subsidiary of a Borrower that is not a Borrower; provided, however, solely in the case of clause (e), during a Restriction Trigger Period and so long as no Event of Default exists or would result therefrom, additional intercompany loans or advances shall be permitted to the extent that such additional intercompany loans and advances do not exceed $5,000,000 in the aggregate per Fiscal Year. For the avoidance of doubt, [clause (e) above] shall not limit non-cash Availability neutral ledger entries by the Borrowers. Upon Agent’s request, any such intercompany loan or advance referred to in [clauses (d) or (e) above] shall be evidenced by a promissory note executed by the appropriate debtor and, to the extent included in the Collateral, delivered to Agent, with appropriate assignment provisions. With respect to such promissory notes evidencing loans and advances referred to in clause (d), such promissory notes shall be subordinated and junior in right and payment to the Full Payment of the Obligations.

Loans. Each Lender severally agrees, on the terms and conditions set forth in this Agreement, on the Closing Date to make Loans to [[Organization A:Organization]] in the amount of such Lender’s Commitment. Amounts borrowed hereunder and prepaid or repaid may not be reborrowed.

Swing Loan” and “Swing Loans” each is defined in [Section 2.07].

the Letter of Credit Usage (including Swing Loans) would exceed the Borrowing Base less the outstanding amount of Advances (including Swing Loans), or

the Dollar Equivalent of # the aggregate outstanding principal amount of all Multicurrency Swing Loans shall not at any time exceed the Total Multicurrency Swing Loan Commitments and # the aggregate outstanding principal amount of all Multicurrency Swing Loans made by any Multicurrency Swing Loan Bank shall not exceed such Lender’s Multicurrency Swing Loan Commitment.

Amendment to [Section 2.05]. [Section 2.05(a)] is amended by deleting the phrase “the Swing Line Lender agrees to make Swing Line Loans to the Company” in the first sentence thereof and replacing it with “the Swing Line Lender may in its sole discretion make Swing Line Loans to the Company”.

Swing Line Lender” means [[Administrative Agent:Organization]] in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

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