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Swingline Loan |
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Swingline Loan A large loan that a company may take out in order to repay other debts. A swingline loan is much like a line of credit or a demand loan, but differs in that it must be used to repay outstanding debt. See also: Refinancing, Debt consolidation. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | 5 million sub-limit for swing line loans, and a 5-year term loan facility of $35 million. Swing Line Loans: A portion of the Revolving Credit Facility not in excess of $25,000,000 shall be available for swing line loans (the "Swing Line Loans") from a Lender to be selected in the syndication process (in such capacity, the "Swing Line Lender") on same-day notice. The agreement provides for a revolving line of credit of $20,000,000, which includes a $5,000,000 sub-limit for swing line loans requiring additional pre-approval by the bank, and a five-year $7,000,000 term loan requiring equal quarterly payments of $117,000 with a balloon payment at the expiration date. |
Swing Line Loans |
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