When the all appropriate criteria precedent set forth into the Article V enjoys already been met toward otherwise ahead of the Improve Day,

Notice on the Mortgage might be calculated based on the actual number of months from inside the per Desire Months and you may a 360-big date 12 months

(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 great 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 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 Notice regarding Borrowing), which notice (i) shall be substantially in the form of Display 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. then 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 making each Loan Advance hereunder, this new Asset Plan is automatically upgraded to provide each of the new Assets listed on the Advantage Agenda attached to the Find regarding Borrowing.

Section 2.03 Cost and you will Prepayment away from Dominant. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.

(b) By alerting Lender on paper a minumum of one (1) Business day in advance, Borrower will be permitted, on their look at these guys choice, to help you prepay, at the mercy of Part dos.12, the borrowed funds entirely or perhaps in part any moment, in addition to accumulated and you will outstanding appeal with the number thus prepaid service.

Notwithstanding almost anything to the exact opposite, when you look at the term of this Arrangement, the lending company ounts because of accumulated and outstanding desire you to carry out if you don’t be because of the Borrower in accordance with the netting arrangements established into 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 Desire Statement 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.