If most of the appropriate criteria precedent set forth from inside the Post V provides started came across towards or before the Get better Day,
Interest towards Financing shall be calculated on such basis as the real quantity of weeks for the for every Focus Several months and you will a beneficial 360-day 12 months
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Notice) of Borrower in the form of Display A beneficial hereto dated the Closing Date and payable to Lender. Borrower agrees that Lender is authorized to record on the Note (i) the date and amount of each Loan Advance made by Lender pursuant hereto and (ii) the date and amount of each payment of principal of each Loan Advance, in the books and records of Lender in such manner as is reasonable and customary for Lender, and that a certificate of an officer of Lender, setting forth in reasonable detail the information so recorded, shall constitute prima facie evidence of the accuracy of the information so recorded, absent manifest error; considering that the failure to make any such recording shall not in any way affect the Obligations of Borrower or the rights of Lender hereunder or under the Note.
Section 2.02 Means of Borrowing. (a) Borrower may borrow under the Facility during the Commitment Period on any Advance Date; provided, that Borrower shall have given Lender irrevocable notice (each, a Observe regarding Borrowing from the bank), which notice (i) shall be substantially in the form of Display B, (ii) shall be signed by a Responsible Officer of Borrower and be received by Lender prior to 3:00 p.m. (New York time) three (3) Business Days prior to the related Advance Date, and (iii) shall specify (A) the dollar amount of the requested Loan Advance, (B) the value of the Portfolio Excess Spread on Borrower’s books and records; (C) the requested Advance Date and (D) the information required to be included in the Asset Schedule with respect to each such Asset in mutually acceptable electronic form.
(b) If Borrower shall deliver to Lender a Notice of Borrowing that satisfies the requirements of Section 2.02(a), Lender will notify Borrower of its intent to remit the requested Loan Amount one (1) Business Day prior to the requested Advance Date. up coming subject to the foregoing, on the Advance Date, Lender shall remit or cause to be remitted the amount of the requested Loan Advance in U.S. Dollars and in immediately available funds to the account specified by Borrower.
(c) Up on to make for each and every Mortgage Get better hereunder, the new Advantage Agenda will likely be automatically up-to-date to incorporate every one of brand new Property on the Asset Schedule linked to the Find regarding Borrowing.
Section 2.03 Cost and Prepayment out-of Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) Because of the notifying Bank in writing one or more (1) Business day in advance, Debtor is enabled, at the their choice, to prepay, at the mercy of Part dos.a dozen, the mortgage entirely or even in region anytime, together with accrued and you will outstanding attract on amount so prepaid service.
Notwithstanding almost anything to the contrary, when you look at the title of the Arrangement, the lender ounts due to accrued and you can outstanding focus one to carry out otherwise be because of the Borrower in accordance with the netting arrangements set forth inside Area hereof
Section 2.04 Interest. On each Interest Payment Date, Borrower hereby promises to pay to Lender all accrued and unpaid interest on the Loan, as invoiced by Lender three (3) Business Days prior to the related Interest Payment Date (the Appeal Report Go out); provided that if Lender fails to deliver such statement on the Interest Statement Date, on such Interest Payment Date Borrower shall pay the amount which Borrower calculates as the interest due and upon delivery of the statement, Borrower shall remit to Lender any shortfall, or Lender shall refund to Borrower any excess, in the interest payment paid. Interest shall accrue each day on the unpaid principal amount of the Loan at a rate per annum equal to the Interest Rate.
