Funding of the Loans. (a) The Construction/Acquisition Loans.
(i) Borrower may request one or more Construction/Acquisition Loans relating to one or more Projects to be made on a Construction/Acquisition Loan Date by complying with the following procedure:
(A) First, Borrower will give the Construction/Acquisition Agent at least fifteen (15) Business Days' prior written notice of Borrower's intent to borrow one or more Construction/Acquisition Loans. Such notice will not be binding on Borrower and will (1) specify the proposed Funding Date (which must be a Construction/Acquisition Loan Date), (2) specify the amount and uses of each requested Loan, which shall be in accordance with Section 2.7, and (3) include the certificate and report of the Engineer required by Sections 3.2(a)(iii) and 3.2(a)(ix) and copies of all documents necessary to satisfy the other conditions precedent contained in Section 3.2.
(B) Second, if the Construction/Acquisition Agent does not notify Borrower within ten (10) Business Days after its receipt of the notice given to it pursuant to Section 2.2(a)(i)(A) that a condition precedent contained in Section 3.2 has not been satisfied, then Borrower may deliver to the Construction/Acquisition Agent a Notice of Borrowing, which will be binding on Borrower and will (1) specify the Funding Date (which must be a Construction/Acquisition Loan Date and will be at least five (5) Business Days following the Construction/Acquisition Agent's receipt of the Notice of Borrowing or such shorter time period as the Construction/Acquisition Agent may permit in its sole discretion) and (2) specify the Interest Period for the requested Construction/Acquisition Loans. Borrower may specify only one Interest Period for Construction/Acquisition Loans that are made on a Funding Date and such Interest Period may be one (1), two (2), three (3), six (6), nine (9) or twelve (12) months in duration; provided, that no Interest Period may extend after October 30, 1998.
(ii) Each Construction/Acquisition Loan will be in an initial principal amount not greater than ninety percent (90%) of the aggregate amount of the Qualified Project Construction Costs or Qualified Project Acquisition Costs, as applicable, relating to a Project and evidenced by the invoices delivered to the Engineer pursuant to Sections 3.2(a)(ii) and (iii). Each Construction/Acquisition Loan will mature on its respective Construction/Acquisition Loan Maturity Date, unless payment thereof is due prior to such date by accel...
Funding of the Loans. If the Borrower desires for -------------------- Eurodollar Loans to be extended on the Closing Date, at least three (3) Eurodollar Business Days prior to the Closing Date, the Borrower shall deliver to the Administrative Agent a funding indemnity letter (the "Funding Indemnity Letter"), in form and substance satisfactory to the Agents, whereby the Borrower shall (i) request that the Term Loan Amount be extended to the Borrower in the form of Eurodollar Loans on the Closing Date and (ii) agree to indemnify the Lenders against any loss or expense incurred by the Lenders resulting from the failure of the Borrower to borrow the Eurodollar Loans on the Closing Date, whether as a result of the Credit Agreement not closing on the Closing Date or otherwise. If the Administrative Agent receives the Funding Indemnity Letter in accordance with the terms set forth above, the Term Loan Amount shall be extended to the Borrower as Eurodollar Loans on the Closing Date (subject to the satisfaction of the requirements set forth in Section 3.01). If the Administrative Agent does not receive the Funding Indemnity Letter in accordance with the terms set forth above, the Term Loan Amount shall be extended to the Borrower as Alternate Base Rate Loans on the Closing Date (subject to the satisfaction of the requirements set forth in Section 3.01). On the Closing Date, each applicable Lender will make its Commitment Percentage of the Term Loan Amount available to the Administrative Agent by deposit, in Dollars and in immediately available funds, at the Administrative Agent's Lending Office or at such other address as the Administrative Agent may designate in writing. The amount of the Loans will then be made available to the Borrower by the Administrative Agent as directed by the Borrower or, if no such direction is provided, by crediting the account of the Borrower on the books of such office of the Administrative Agent, to the extent the amount of such Loans are made available to the Administrative Agent. No Lender shall be responsible for the failure or delay by any other Lender in its obligation to make a Loan hereunder; provided, however, that the failure of any Lender to fulfill its obligations hereunder shall not relieve any other Lender of its obligations hereunder. If the Administrative Agent shall have received an executed signature page to this Credit Agreement (whether an original or via telecopy) from a Lender, the Administrative Agent and the Borrower may assume that...
Funding of the Loans. Upon receipt of each notice of borrowing from the Borrower, the Administrative Agent shall promptly notify each Lender of the contents thereof. Subject to its receipt of the notice referred to in the preceding sentence, each Lender will make the amount of its Commitment Percentage of each borrowing of Loans pursuant to this Section available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent set forth in Section 11.2 not later than 12:30 P.M. on the relevant Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent at such office. The amounts so made available to the Administrative Agent on the Borrowing Date will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Administrative Agent, be made available on such date to the Borrower by the Administrative Agent at the office of the Administrative Agent specified in Section 11.2 by crediting the account of the Borrower on the books of such office with the aggregate of said amounts received by the Administrative Agent, provided that (i) Loans made to re-fund Swingline Loans as provided in Section 2.7 shall be remitted by the Administrative Agent to the Swingline Lender, and (ii) Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.8 shall be remitted by the Administrative Agent to the Issuing Bank.
Funding of the Loans. The Group will finance the Loans with the Company’s general working capital. Customer C is a merchant and our repeated customer with no default record. To the best of the knowledge, information and belief of the Directors having made all reasonable enquiry, Customer C is an Independent Third Party and not connected with the Group.
Funding of the Loans. Each Lender, on a several basis, agrees to fund the Loan to be made by it hereunder on the Effective Date by wire transfer of immediately available funds to the account of the Administrative Agent designated by it for such purpose by notice to the Lenders; provided, that, to take into account wiring deadlines of each Lender, funding shall occur (i) on the same Business Day as the Effective Date (which shall be a Business Day) so long as all conditions precedent set forth in Section 4.01 are satisfied and/or waived in writing by the Lenders by not later than 3:00 p.m., New York City time on such Effective Date, and (ii) on the next succeeding Business Day after the Effective Date (which shall be a Business Day) if all conditions precedent set forth in Section 4.01 are satisfied and/or waived in writing by the Lenders after 3:00 p.m., New York City time on the Effective Date.
Funding of the Loans. Loans shall be advanced by the Lenders in the following amounts to total $7,500,000:
(i) Perceptive Credit Opportunities Fund, L.P. - $5,558,433.39
(ii) PCOF Phoenix II Fund, L.P. - $1,941,566.61
Funding of the Loans. All of the Loans to be funded by Lender pursuant to the terms and conditions of this Agreement shall be funded according to the following procedure:
A. Lender or its designated trustee shall cause a special account (the "Funding Account") to be established with Trustmark National Bank, AmSouth Bank or such other bank or financial institution as shall be mutually acceptable to CFS and Lender. Disbursements from the Funding Account shall be made in accordance with the provisions of Section 6.C of this Agreement.
B. Lender or its designated trustee shall cause there to be available in the Funding Account such amount as shall be needed to fund Completed Applications under this Agreement, provided that during any thirty (30) day period such amount shall not be required to exceed [****] Dollars ($[****]) (or such greater amount as the Lender shall from time to time elect by written notice to CFS), upon which the Servicer shall be authorized to draw to fund Completed Applications for Consolidation Loans. CFS shall not during any thirty (30) day period present Completed Applications to Lender for funding in excess of the amount required to be available in the Funding Account.
C. Lender shall have the right, at any time, to elect an alternate funding mechanism for funding the Loans; provided that such funding mechanism allows for the funding of the Loans by Lender or its designated trustee within sixty (60) minutes of receipt by Lender from the Servicer of accurate disbursement information (provided that in the event that monies are to be disbursed to any payee other than CFS, Lender or its designated trustee shall have received at least one week's prior written notice).
Funding of the Loans. (1) Each Term Lender shall make its Percentage Share of the Term Loan available to the Administrative Agent, in same-day funds, on the Closing Date at the Contact Office, ABA 000-000-000 for the Administrative Agent’s Account No. 00-000-000, Ref: Macerich Partnership, no later than 1:00 p.m. (New York time) on the Closing Date.
(2) Each Interim Lender shall make its Percentage Share of the Interim Loan available to the Administrative Agent, in same-day funds, on the Closing Date at the Contact Office, ABA 000-000-000 for the Administrative Agent’s Account No. 00-000-000, Ref: Macerich Partnership, no later than 1:00 p.m. (New York time) on the Closing Date.
(3) The failure of any Lender to advance its Percentage Share of the Term Loan or the Interim Loan shall not relieve any other Lender of its obligation hereunder to advance its Percentage Share of the Term Loan or the Interim Loan, as applicable, but no Lender shall be responsible for the failure of any other Lender to make its required advance.
Funding of the Loans. (a) The Loans shall be made as provided in Section 2.1. The Administrative Agent will make such Loans available to the Borrower by promptly transferring the amounts so received, in like funds, via wire transfer to the bank account designated by the Borrower in the Borrowing Request.
(b) Unless the Administrative Agent shall have received notice from a Lender prior to the Effective Date that such Lender will not make available to the Administrative Agent such Lender’s Loan, the Administrative Agent may in its sole discretion assume that such Lender has made such share available on such date in accordance with clause (a) of this Section and may, in its sole discretion in reliance upon such assumption, make available to the Borrower a
Funding of the Loans. 3 SECTION 2.3 INTEREST.............................................................................4 SECTION 2.4 NOTES................................................................................6 SECTION 2.5 FEES.................................................................................7 SECTION 2.6 SECURITY.............................................................................7 SECTION 2.7 USE OF PROCEEDS......................................................................7 SECTION 2.8
