Attention to your Mortgage should be determined on the basis of the genuine number of weeks into the for every Attract Several months and a good 360-go out 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 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; 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 Procedure of Credit. (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) Autaugaville loans 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) On and then make for every Mortgage Improve hereunder, the brand new Advantage Schedule is instantly upgraded to provide all of the fresh Assets listed on the Investment Schedule linked to the Observe off Borrowing from the bank.
Section 2.03 Installment and you will Prepayment of Dominating. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) Of the notifying Financial in writing one (1) Working day ahead, Debtor will likely be enabled, during the their alternative, to help you prepay, susceptible to Part 2.twelve, the mortgage in whole or perhaps in part anytime, along with accumulated and you may unpaid desire towards amount thus prepaid service.
In spite of anything to the opposite, when you look at the label from the Arrangement, the lender ounts due to accumulated and you can unpaid appeal you to do or even be because of the Borrower according to the netting conditions set forth 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 Appeal Declaration 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.
