Procedure for Borrowing Swingline Loans. (i) The Borrower may request a Swingline Loan by giving the Administrative Agent and the Swingline Lender notice pursuant to (1) a Notice of Swingline Borrowing, (2) a telephonic notice, or (3) a notice sent by telecopy, electronic mail or other similar form of communication (each, a “Requested Swingline Borrowing”). Each notice for a Requested Swingline Borrowing shall be delivered to the Swingline Lender no later than 11:00 a.m. Central time on the proposed date of such borrowing. Any telephonic notice shall include all information to be specified in a written Notice of Swingline Borrowing and shall be promptly confirmed in writing by the Borrower pursuant to a Notice of Swingline Borrowing sent to the Swingline Lender by telecopy, electronic mail or similar form of communication on the same day of the giving of such telephonic notice. Not later than 1:00 p.m. Central time on the date of the requested Swingline Loan and subject to satisfaction of the applicable conditions set forth in Section 6.2 for such borrowing, the Swingline Lender will make the proceeds of such Swingline Loan available to the Borrower in Dollars, in immediately available funds, at the account specified by the Borrower in the Disbursement Instruction Agreement. The Borrower hereby agrees to indemnify and hold harmless the Administrative Agent and the Swingline Lender for any losses, claims, damages, liabilities and related expenses incurred by any Administrative Agent and/or the Swingline Lender or asserted against Administrative Agent and/or the Swingline Lender by any Person as a result of insufficient or incorrect information being given by the Borrower in connection with any notice for a Requested Swingline Borrowing given pursuant to clauses (2) or (3) above.
Appears in 6 contracts
Samples: Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.)
