In the event the the appropriate criteria precedent established in the Post V features already been found on or prior to the Progress Day,

Attention towards the Mortgage should be determined on the basis of the true number of weeks during the for every single Interest Several months and you can a good 360-go out 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 Showcase An excellent 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; given 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 from the bank. (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 Notice out-of Credit), which notice (i) shall be substantially in the form of Exhibit 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. next 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) Upon to make for every single Loan Improve hereunder, the newest Resource Agenda can be immediately upgraded to incorporate all of the Property on the Resource Plan attached to the See out of Credit.

Section 2.03 Installment and you will Prepayment away from Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.

(b) By the notifying Financial in writing at least one (1) Working day ahead, Debtor are enabled, at their choice, to prepay, at the mercy of Point 2.twelve, the mortgage entirely or in region any time, along with loans Clay AL accumulated and unpaid focus to the number very prepaid.

Notwithstanding anything to the opposite, into the term associated with the Contract, the financial institution ounts due to accrued and you can delinquent interest one to perform if not become because of the Debtor according to the netting specifications established within the Point 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 Focus Report Day); 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.