Funding of Loan; Release of Aggregated Requested Release Amount Sample Clauses

Funding of Loan; Release of Aggregated Requested Release Amount. (a) Each Lender shall wire the principal amount of its Loan in immediately available funds, by 12:00 noon, New York City time, on the Effective Date, to the Administrative Agent's Account. (b) Upon satisfaction or waiver of the applicable conditions set forth in Section 4.01, promptly upon receipt from each Lender of an amount equal to such Lender's Commitment as described in Section 2.03(a), the Administrative Agent shall (1) make an amount equal to the IPA Loan Amount available to the Borrower in like funds as received by the Administrative Agent by wire transfer of such funds to the account designated by the Borrower in its Borrowing Request or such other account in accordance with instructions provided by the Borrower in writing prior to the Effective Date to (and reasonably acceptable to) the Administrative Agent and (2) transfer to the LTV Securities Account the UPA Loan Amount. All amounts in the LTV Securities Account (including the UPA Loan Amount) shall be invested in Investment Securities in accordance with Section 2.23 of the Mortgage. (c) Upon satisfaction or waiver of the applicable conditions set forth in Section 4.02, on a Release Date, the Collateral Agent (following notice to the Administrative Agent) shall direct the Securities Intermediary to release from the LTV Securities Account to the Borrower the Aggregate Requested Release Amount to the account designated in the relevant Release Request; provided that, as of such Release Date, the Loan-to-Value Ratio shall not exceed 70.0%; provided, further, that, on the Final Release Date, in addition to the Aggregate Requested Release Amount, all other UPA Loan Amounts (if any) in the LTV Securities Account shall be released to the Borrower to the account designated in the relevant Release Request.