Common use of Indemnification of Swingline Lender Clause in Contracts

Indemnification of Swingline Lender. The Lenders agree to reimburse and indemnify the Swingline Lender ratably in proportion to their respective Commitments (or, if the Commitments have been terminated, in proportion to their Commitments immediately prior to such termination) from and against any and all losses, liabilities (including liabilities for penalties), actions, suits, judgments, demands, costs and expenses (including, without limitation, reasonable attorneys' fees and disbursements) arising out of or in connection with the Swingline Loan facility, except in respect of losses, liabilities or other obligations suffered by the Swingline Lender resulting from its own gross negligence or willful misconduct. If a Lender does not make available to the Swingline Lender when due such Lender's Commitment Percentage of any such loss, liability, judgment, cost or expense, such Lender shall be required to pay on demand interest thereon for the account of the Swingline Lender at a rate of interest per annum equal to the Federal Funds Effective Rate from the date such Lender's payment is due until the date such payment is received by the Swingline Lender.

Appears in 2 contracts

Samples: Credit Agreement (Urstadt Biddle Properties Inc), Assignment and Assumption Agreement (Urstadt Biddle Properties Inc)

AutoNDA by SimpleDocs

Indemnification of Swingline Lender. The Lenders agree to reimburse and indemnify the Swingline Lender ratably in proportion to their respective Commitments (or, if the Commitments have been terminated, in proportion to their Commitments immediately prior to such termination) from and against any and all losses, liabilities (including liabilities for penalties), actions, suits, judgments, demands, costs and expenses (including, without limitation, reasonable attorneys' fees and disbursements) arising out of or in connection with the Swingline Loan facility, except in respect of losses, liabilities or other obligations suffered by the Swingline Lender resulting from its own gross negligence or willful misconduct. If a Lender does not make available to the Swingline Lender when due such Lender's ’s Commitment Percentage of any such loss, liability, judgment, cost or expense, such Lender shall be required to pay on demand interest thereon for the account of the Swingline Lender at a rate of interest per annum equal to the Federal Funds Effective Rate from the date such Lender's ’s payment is due until the date such payment is received by the Swingline Lender.

Appears in 2 contracts

Samples: Credit Agreement (Urstadt Biddle Properties Inc), Credit Agreement (Urstadt Biddle Properties Inc)

Indemnification of Swingline Lender. The Lenders agree to reimburse and indemnify the Swingline Lender ratably in proportion to their respective Commitments (or, if the Commitments have been terminated, in proportion to their Commitments immediately prior to such termination) from and against any and all losses, liabilities (including liabilities for penalties), actions, suits, judgments, demands, costs and expenses (including, without limitation, reasonable attorneys' fees and disbursements) arising out of or in connection with the Swingline Loan facilitySwingline, except (including the foregoing in respect of losses, liabilities or other obligations suffered by the Swingline Lender resulting from its own negligence and excluding the foregoing in respect of losses, liabilities and other obligations resulting from its own gross negligence or willful misconduct). If a Lender does not make available to the Swingline Lender when due such Lender's Commitment Percentage of any such loss, liability, judgment, cost or expense, such Lender shall be required to pay on demand interest thereon for the account of the Swingline Lender at a rate of interest per annum equal to the Federal Funds Effective Funding Rate from the date such Lender's payment is due until the date such payment is received by the Swingline Lender.. 1.6

Appears in 1 contract

Samples: Assignment Agreement (Hovnanian Enterprises Inc)

Indemnification of Swingline Lender. The Lenders agree to reimburse and indemnify the Swingline Lender ratably in proportion to their respective Commitments (or, if the Commitments have been terminated, in proportion to their Commitments immediately prior to such termination) from and against any and all losses, liabilities (including liabilities for penalties), actions, suits, judgments, demands, costs and expenses (including, without limitation, reasonable attorneysattorneys ' fees and disbursements) arising out of or in connection with the Swingline Loan facilitySwingline, except (including the foregoing in respect of losses, liabilities or other obligations suffered by the Swingline Lender resulting from its own negligence and excluding the foregoing in respect of losses, liabilities and other obligations resulting from its own gross negligence or willful misconduct). If a Lender does not make available to the Swingline Lender when due such Lender's Commitment Percentage of any such loss, liability, judgment, cost or expense, such Lender shall be required to pay on demand interest thereon for the account of the Swingline Lender at a rate of interest per annum equal to the Federal Funds Effective Funding Rate from the date such Lender's payment is due until the date such payment is received by the Swingline Lender.. 2.5

Appears in 1 contract

Samples: Assignment Agreement (Hovnanian Enterprises Inc)

AutoNDA by SimpleDocs

Indemnification of Swingline Lender. The Lenders agree to reimburse and indemnify the Swingline Lender ratably in proportion to their respective Commitments Commitment Percentages (or, if the Commitments have been terminated, in proportion to their Commitments Commitment Percentages immediately prior to such termination) from and against any and all losses, liabilities (including liabilities for penalties), actions, suits, judgments, demands, costs and expenses (including, without limitation, reasonable attorneys' fees and disbursements) arising out of or in connection with any Swingline Loan, including the Swingline Loan facility, except foregoing in respect of losses, liabilities or other obligations suffered by the Swingline Lender resulting from its own negligence or strict liability and excluding the foregoing with respect to losses, liabilities and other obligations resulting from its own gross negligence or willful misconduct. If a Lender does not make available to the Swingline Lender when due such Lender's ’s Commitment Percentage of any such loss, liability, judgment, cost or expense, such Lender shall be required to pay on demand interest thereon for the account of the Swingline Lender at a rate of interest per annum equal to the Federal Funds Effective Rate LIBOR, from the date such Lender's ’s payment is due until the date such payment is received by the Swingline Lender.

Appears in 1 contract

Samples: Credit Agreement (Beazer Homes Usa Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!