Focus to your Loan is determined based on the true amount of months within the for every Notice Months and you may a 360-big date 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 An effective 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 Notice of 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. following 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) On and then make for each Loan Progress hereunder, the Investment Schedule special info shall be instantly updated to incorporate every one of the brand new Property on the Investment Plan attached to the See off Credit.
Section 2.03 Fees and Prepayment out of Principal. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) By notifying Lender in writing a minumum of one (1) Working day ahead, Debtor are going to be enabled, on its alternative, to prepay, at the mercy of Point 2.several, the loan entirely or perhaps in region any time, as well as accrued and you may unpaid notice into amount thus prepaid.
In spite of almost anything to the opposite, into the title of this Arrangement, the lending company ounts on account of accrued and you may delinquent appeal one create or even end up being as a result of the Debtor according to the netting conditions established within 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 Attract Declaration Big date); 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.
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