Appeal to the Loan are going to be calculated on the basis of the real amount of days into the for every Focus Several months and you may a great 360-time 12 months
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Mention) of Borrower in the form of Display A 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 https://paydayloanalabama.com/nixburg/ 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; offered 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 for 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 regarding Borrowing from the bank), which notice (i) shall be substantially in the form of Showcase 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 per Loan Improve hereunder, the new Investment Plan shall be instantly upgraded to provide each of brand new Property on the Resource Schedule connected to the See out of Borrowing from the bank.
Section 2.03 Repayment and Prepayment off Dominating. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) Of the alerting Bank in writing one or more (1) Business day beforehand, Borrower is going to be let, at the its option, to help you prepay, at the mercy of Area dos.a dozen, the mortgage entirely or perhaps in area anytime, as well as accumulated and you can delinquent interest on count therefore prepaid service.
Regardless of almost anything to the opposite, for the identity of this Contract, the lending company ounts because of accumulated and you may outstanding attract you to definitely create otherwise become as a result of the Debtor according to the netting provisions established from inside 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 Attention Statement 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.
