In the event that all the appropriate conditions precedent set forth in the Blog post V enjoys come met on the otherwise before the Improve Date,

Attention toward Financing is determined on the basis of the actual number of days in each Notice Months and a great 360-go out season

(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Notice) of Borrower in the form of Showcase A 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; 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 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 Find regarding Credit), 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. up coming 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 and also make per Loan Progress hereunder, the new Advantage Agenda are going to be automatically upgraded to incorporate all of the fresh Assets listed on the Advantage Agenda linked to the Observe off Credit.

Section 2.03 Fees and you can Prepayment out of Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.

(b) From the alerting Financial written down one (1) Business day beforehand, Borrower should be enabled, on the alternative, so you can prepay, subject to Section 2.twelve, the mortgage entirely or even in region at any time, including accumulated and you may delinquent appeal to the count therefore prepaid service.

Notwithstanding anything to the contrary, for the label associated with Agreement, the financial institution ounts due to accrued and you will unpaid desire one to carry out if you don’t end up being considering the Debtor according to the netting terms set forth inside the Section 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 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 cash advance america in Lexington Alabama at a rate per annum equal to the Interest Rate.