If the all relevant requirements precedent established in Article V have come met on otherwise ahead of the Get better Big date,
Focus towards the Mortgage will likely be calculated on such basis as the genuine level of days in the for every single Attention Period and you will a beneficial 360-go out year
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Note) of Borrower in the form of Exhibit 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; 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 Process 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) 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. after that 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 make for every single Loan Progress hereunder, the fresh Advantage Plan will likely be immediately updated to provide all of the fresh Possessions listed on the House Schedule linked to the Notice out-of Credit.
Section 2.03 Repayment and you americash loans Millbrook may Prepayment out-of Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) Of the notifying Lender in writing at least one (1) Business day in advance, Debtor are going to be let, from the their choice, to help you prepay, at the mercy of Point dos.a dozen, the mortgage in whole or even in area when, along with accrued and you may unpaid appeal to the number therefore prepaid service.
In spite of anything to the alternative, when you look at the label of the Contract, the lender ounts because of accrued and unpaid notice you to definitely carry out if not end up being as a result of the Borrower according to the netting specifications established inside 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 Time); 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.
If the all relevant requirements precedent established in Article V have come met on otherwise ahead of the Get better Big date,
October 24, 2024
get payday loan no interest
No Comments
acmmm
Focus towards the Mortgage will likely be calculated on such basis as the genuine level of days in the for every single Attention Period and you will a beneficial 360-go out year
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Note) of Borrower in the form of Exhibit 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; 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 Process 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) 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. after that 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 make for every single Loan Progress hereunder, the fresh Advantage Plan will likely be immediately updated to provide all of the fresh Possessions listed on the House Schedule linked to the Notice out-of Credit.
Section 2.03 Repayment and you americash loans Millbrook may Prepayment out-of Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) Of the notifying Lender in writing at least one (1) Business day in advance, Debtor are going to be let, from the their choice, to help you prepay, at the mercy of Point dos.a dozen, the mortgage in whole or even in area when, along with accrued and you may unpaid appeal to the number therefore prepaid service.
In spite of anything to the alternative, when you look at the label of the Contract, the lender ounts because of accrued and unpaid notice you to definitely carry out if not end up being as a result of the Borrower according to the netting specifications established inside 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 Time); 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.