Focus on the Mortgage will be calculated on such basis as the real level of weeks during the each Appeal Several months and you will a great 360-time seasons
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Notice) of Borrower in the form of Exhibit 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; 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 from Borrowing), 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. upcoming 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 americash loans Perdido funds to the account specified by Borrower.
(c) On and make for every single Financing Advance hereunder, the fresh new Investment Plan should be immediately upgraded to add each of the Possessions on the Advantage Plan attached to the Observe away from Borrowing.
Section 2.03 Installment and you can Prepayment of Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) From the alerting Bank written down one (1) Working day ahead, Debtor is allowed, at its solution, so you can prepay, at the mercy of Area 2.several, the borrowed funds entirely or perhaps in region anytime, in addition to accrued and you will outstanding notice into the number very prepaid service.
Despite almost anything to the opposite, inside the identity for the Agreement, the lender ounts because of accrued and you can outstanding interest you to definitely do or even feel because of the Borrower according to the netting conditions established for the 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.