Common use of Certain General Provisions Clause in Contracts

Certain General Provisions. (A) Each Bank shall make the aggregate amount of its Pro Rata Share of each Committed Loan, (B) each Bank having a Competitive Bid accepted will make the aggregate amount of the Bid Loan(s) with respect to which its Competitive Bid was accepted, and (C) each Designated Bid Lender electing to fund one or more Bid Loans that would otherwise have been made by its Designating Bank with respect to an accepted Competitive Bid (or, if such Designated Bid Lender fails to do so, its Designating Bank) will make the aggregate amount of such Bid Loan(s), available to the Agent for the account of the Borrower at the Agent's Payment Office by 11:00 a.m. (San Francisco time) on the date of the relevant Borrowing and in funds immediately available to the Agent. The proceeds of all such Advances will then be made available to the Borrower by the Agent by wire transfer in accordance with written instructions provided to the Agent by the Borrower. If any Bid Loan is funded by a Designated Bid Lender, its Designating Bank shall provide the Agent with notice to that effect on the date of such Borrowing. (ii) Unless the Agent receives notice from any Bank at least one Banking Day prior to the date of a Borrowing that such Bank (or such Bank's Designated Bid Lender, in the case of a Bid Loan) will not make available to the Agent when required (A) its Pro Rata Share of the Committed Loan to be made thereon, or (B) the amount of the Bid Loans to be made by such Bank (or its Designated Bid Lender) thereon, as the case may be, the Agent may assume that such Bank (or, if applicable, its Designated Bid Lender) has made such amount available to the Agent in immediately available funds on the date of such Borrowing. (iii) The failure of any Bank or Designated Bid Lender to make available to the Agent any amount it is required to make so available in respect of any Borrowing shall not relieve any other Bank or Designated Bid Lender of any obligation hereunder to make an Advance on the date of such Borrowing, but, except to the extent expressly provided (A) in Section 7(b)(ix) with respect to the obligation of any Designating Bank to fund Bid Loans that are not funded by its Designated Bid Lender or (B) in Section 16(e)(ii), no Bank or Designated Bid Lender shall be responsible for the failure of any other Bank or Designated Bid Lender to make any amount so available.

Appears in 2 contracts

Samples: Modification Agreement (Bre Properties Inc /Md/), Modification Agreement (Bre Properties Inc /Md/)

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Certain General Provisions. (A) Each Bank shall make the aggregate amount of its Pro Rata Share of each Committed Loan, (B) each Bank having a Competitive Bid accepted will make the aggregate amount of the Bid Loan(s) with respect to which its Competitive Bid was accepted, and (C) each Designated Bid Lender electing to fund one or more Bid Loans that would otherwise have been made by its Designating Bank with respect to an accepted Competitive Bid (or, if such Designated Bid Lender fails to do so, its Designating Bank) will make the aggregate amount of such Bid Loan(s), available to the Agent for the account of the Borrower at the Agent's Payment Office by 11:00 a.m. (San Francisco time) on the date of the relevant Borrowing and in funds immediately available to the Agent. The proceeds of all such Advances will then be made available to the Borrower by the Agent by wire transfer in accordance with written instructions provided to the Agent by the Borrower. If any Bid Loan is funded by a Designated Bid Lender, its Designating Bank shall provide the Agent with notice to that effect on the date of such Borrowing. (ii) Unless the Agent receives notice from any Bank at least one Banking Day prior to the date of a Borrowing that such Bank (or such Bank's Designated Bid Lender, in the case of a Bid Loan) will not make available to the Agent when required (A) its Pro Rata Share of the Committed Loan to be made thereon, or (B) the amount of the Bid Loans to be made by such Bank (or its Designated Bid Lender) thereon, as the case may be, the Agent may assume that such Bank (or, if applicable, its Designated Bid Lender) has made such amount available to the Agent in immediately available funds on the date of such Borrowing. (iii) The failure of any Bank or Designated Bid Lender to make available to the Agent any amount it is required to make so available in respect of any Borrowing shall not relieve any other Bank or Designated Bid Lender of any obligation hereunder to make an Advance on the date of such Borrowing, but, except to the extent expressly provided (A) in Section 7(b)(ix1.3(b)(ix) with respect to the obligation of any Designating Bank to fund Bid Loans that are not funded by its Designated Bid Lender or (B) in Section 16(e)(ii11.5(b), no Bank or Designated Bid Lender shall be responsible for the failure of any other Bank or Designated Bid Lender to make any amount so available.

Appears in 1 contract

Samples: Unsecured Line of Credit Loan Agreement (Bre Properties Inc /Md/)

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Certain General Provisions. (Ai) Each Bank shall make the aggregate amount of its Pro Rata Share of each Committed Loan, (Bii) each Bank having a Competitive Bid accepted will make the aggregate amount of the Bid Loan(s) with respect to which its Competitive Bid was accepted, and (Ciii) each Designated Bid Lender electing to fund one or more Bid Loans that would otherwise have been made by its Designating Bank with respect to an accepted Competitive Bid (or, if such Designated Bid Lender fails to do so, its Designating Bank) will make the aggregate amount of such Bid Loan(s), available to the Administrative Agent for the account of the Borrower at the Administrative Agent's Payment Office by 11:00 a.m. (San Francisco time) on the date of the relevant Borrowing and in funds immediately available to the Administrative Agent. The proceeds of all such Advances will then be made available to the Borrower by the Administrative Agent by wire transfer in accordance with written instructions provided to the Administrative Agent by the Borrower. If any Bid Loan is funded by a Designated Bid Lender, its Designating Bank shall provide the Administrative Agent with notice to that effect on the date of such Borrowing. (iiiv) Unless the Agent receives notice from any Bank at least one Banking Day prior to the date of a Borrowing that such Bank (or such Bank's Designated Bid Lender, in the case of a Bid Loan) will not make available to the Agent when required (A) its Pro Rata Share of the Committed Loan to be made thereon, or (B) the amount of the Bid Loans to be made by such Bank (or its Designated Bid Lender) thereon, as the case may be, the Agent may assume that such Bank (or, if applicable, its Designated Bid Lender) has made such amount available to the Administrative Agent in immediately available funds on the date of such Borrowing. (iiiv) The failure of any Bank or Designated Bid Lender to make available to the Administrative Agent any amount it is required to make so available in respect of any Borrowing shall not relieve any other Bank or Designated Bid Lender of any obligation hereunder to make an Advance on the date of such Borrowing, but, except to the extent expressly provided (A) in Section 7(b)(ix1.3(b)(ix) with respect to the obligation of any Designating Bank to fund Bid Loans that are not funded by its Designated Bid Lender or (B) in Section 16(e)(ii11.5(b), no Bank or Designated Bid Lender shall be responsible for the failure of any other Bank or Designated Bid Lender to make any amount so available.

Appears in 1 contract

Samples: Unsecured Line of Credit Loan Agreement (Bre Properties Inc /Md/)

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