General Borrowing Procedures Sample Clauses
The General Borrowing Procedures clause outlines the standard steps and requirements that a borrower must follow to request and receive funds under a loan agreement. Typically, this clause details the process for submitting borrowing requests, specifies the necessary documentation, and sets out any conditions that must be satisfied before funds are disbursed, such as notice periods or compliance with covenants. By establishing a clear and consistent framework for borrowing, this clause ensures both parties understand the process, reduces the risk of disputes, and facilitates efficient access to loan funds.
General Borrowing Procedures of the 3/04 Credit Agreement is hereby amended to henceforth read as follows:
General Borrowing Procedures. 37 4.1. Separate Request for Each Borrowing..............................................................37 4.2. Funding of Advances..............................................................................
General Borrowing Procedures. 4.1. Separate Request for Each Borrowing. Borrowings under the Credit Line are available only as Borrowings under its Sublines. A separate Request for Borrowing shall be made for each Borrowing, which Request for Borrowing, when appropriately completed and with appropriate Submission Lists attached, may include requests for Borrowings under any one or more of the Sublines. On each Business Day that (i) the Agent shall have received a Request for Borrowing before the applicable deadline stated in Section 4.2 and (ii) if additional Collateral is required to support the requested Borrowing as discussed in Section 4.2(c), before the deadline stated in Section 4.3, each of the Agent and the Custodian shall have received:
(a) for Repurchase Loans Borrowings, Receivables Borrowings, REO Borrowings and/or Working Capital Borrowings, a Submission List; and
(b) for Single-family Subline Borrowings, a Submission List for any Wet Loans and, for any Dry Loans, a Submission List and the Basic Papers; the Lenders shall fund the requested Borrowing(s) as provided in Section 4.2.
General Borrowing Procedures. The reference to “Total Pledged MBS List” in each of the following Sections is deleted (no such list being required for any purpose):
General Borrowing Procedures. 34 4.1. Requests for Borrowings..........................................................................34 4.2. Initial Funding of Advances under the Swing Line; Refinancing of Swing Line Advances.............34 4.3. Funding of Requests for Advance..................................................................
General Borrowing Procedures. 34 3.1. Separate Request for Each Borrowing....................................................... 34 3.2.
General Borrowing Procedures