Focus to your Loan will be computed based on the real amount of weeks into the for each Attract Months and you can a beneficial 360-time season
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Note) of Borrower in the form of Showcase Good 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; provided 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 Procedure 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 Observe from 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) Abreast of to make for each Loan Progress hereunder, the newest Asset Schedule would be automatically upgraded to incorporate each one of brand new Possessions listed on the Advantage Plan attached to the Notice out-of Borrowing.
Section 2.03 Fees and you may Prepayment out of Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) By the alerting Lender on paper one (1) Working day ahead of time, Borrower is enabled, at the option, so you can prepay, subject to Part 2.twelve, the borrowed funds in whole or even in part anytime, and additionally accrued and you will outstanding attract on the amount very prepaid.
In spite of almost anything to the opposite, into the name associated with the Agreement, the lending company ounts because of accrued and you can unpaid focus one carry out otherwise be due to the Borrower in accordance with the netting terms established within the Part 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 fast cash loans in Mcintosh three (3) Business Days prior to the related Interest Payment Date (the Desire Declaration 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.