Desire with the Mortgage will be calculated on the basis of the genuine number of weeks in per Focus Months and an effective 360-date year
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Note) of Borrower in the form of Display A beneficial 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; given 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 Process 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 See out-of Borrowing), 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) Up on and make for each Loan Get better hereunder, brand new Resource Agenda are going to be automatically up-to-date to add every one of this new Property on the Advantage Agenda linked to the See away from Credit.
Section 2.03 Repayment and you will Prepayment regarding Dominating. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) From the notifying Financial in writing at least one (1) Business day in advance, Debtor shall be allowed, at its alternative, to prepay, susceptible to Part 2.several, the mortgage entirely or even in region any moment, also accumulated and unpaid focus toward matter so prepaid service.
Despite almost anything to the alternative, for the label associated with the Contract, the lender ounts because of accrued and you will unpaid attention you to definitely manage otherwise feel considering the Debtor according to the netting conditions set forth for 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 Interest Report Day); 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.
