ENGNotice into Financing is computed on such basis as the true quantity of days inside for each Attention Period and you can a good 360-day year
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Mention) of Borrower in the form of Exhibit A great 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 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 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. after that 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 making for each and every Financing Get better hereunder, new Investment Agenda should be automatically updated to provide each of the Assets listed on the Asset Plan attached to the Notice regarding Borrowing from the bank.
Section 2.03 Repayment and you will Prepayment from Principal. (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 one or more (1) Business day in advance, Borrower are going to be enabled, on its solution, so you can prepay, susceptible to Point dos.a dozen, the borrowed funds entirely or in area at any time, along with accumulated and you may outstanding appeal on the matter therefore prepaid.
Notwithstanding anything to the exact opposite, into the name from the Arrangement, the financial institution ounts because of accumulated and you will delinquent desire you to carry out or even become as a result of the Borrower according to the netting specifications set forth in Section hereof
Section 2.04 Interest. On each Interest Payment Date, Borrower hereby promises to pay to $500 loan in Remlap 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 Desire Declaration Time); 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.
