Common use of Making the Loans Clause in Contracts

Making the Loans. (a) Each Loan shall be made on notice, given by the Borrower to the Lender not later than 12:00 noon (New York City time) on the fifth (5th) Business Day prior to the date of the proposed Loan. Each such notice (a "Notice of Borrowing") shall be in substantially the form of Exhibit B, specifying therein (i) the date of such proposed Loan, (ii) the amount of such proposed Loan, (iii) the account or accounts to which the Loan should be made, and (iv) details of the Approved Hotel Facility for which the proceeds of the proposed Loan shall be used. (b) Upon fulfillment of the applicable conditions set forth in Article 4, the Lender shall on the date of the proposed Loan, make available to the Borrower at the account or accounts specified in the Notice of Borrowing, in immediately available federal funds, the Loan. (c) The Borrower may not request more than one (1) Loan per calendar month. (d) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. The Borrower shall indemnify the Lender against any loss, cost or expense incurred by the Lender as a result of any failure to fulfill on or before the date specified in any Notice of Borrowing for a proposed Loan the applicable conditions set forth in Article 4, including, without limitation, any loss (including, without limitation, loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by the Lender to fund any Loan to be made by the Lender when such Loan, as a result of such failure, is not made on such date.

Making the Loans. (a) Each Loan shall be made upon fulfillment of the applicable conditions set forth in this Agreement and on notice, given by the Borrower to the Lender not later than 12:00 noon (New York City time) on the fifth fifteenth (5th15th) Business Day prior to the date of the proposed Loan. Each such notice (a "Notice of Borrowing") shall be in substantially the form of Exhibit B, specifying therein (i) the date of such proposed Loan, (ii) the amount of such proposed Loan, (iii) the account or accounts to which the Loan should be made, and (iv) details of the Approved Hotel Facility for which that the proceeds of the proposed Loan shall be usedused for the purchase of an Approved Motel Facility or for an Earnout (as applicable). (b) Upon fulfillment of the applicable conditions set forth in Article 4, the The Lender shall on the date of the proposed Loan, make available to the Borrower (or as the Borrower may direct) at the account or accounts specified in the Notice of Borrowing, in immediately available federal funds, the Loan. (c) The Borrower may not request more than one (1) Loan per calendar month. (d) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. The Borrower shall indemnify the Lender against any actual loss, cost or expense incurred by the Lender as a result of any failure to fulfill on or before the date specified in any Notice of Borrowing for a proposed Loan the applicable conditions set forth in Article 4IV, including, without limitation, any loss (including, without limitation, loss of anticipated profits)loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by the Lender to fund any Loan to be made by the Lender when such Loan, as a result of such failure, is not made on such date.

Making the Loans. (a) Each Loan shall be made on notice, given ---------------- by the Borrower to the Lender not later than 12:00 noon (New York City time) on the fifth (5th) Business Day prior to the date of the proposed Loan. Each such notice (a "Notice of Borrowing") shall be in substantially the form of Exhibit B, specifying therein (i) the date of such proposed Loan, (ii) the amount of such proposed Loan, (iii) the account or accounts to which the Loan should be made, and (iv) details of the Approved Hotel Facility for which the proceeds of the proposed Loan shall be used. Notwithstanding the foregoing, from and after the Collateralization Date, the Borrower agrees promptly to notify the Lender in writing that it intends to request a Loan in order to allow adequate time for the preparation of the Mortgage Documents for the Selected Properties pursuant to Section 3.3 hereof. (b) Upon fulfillment of the applicable conditions set forth in Article 4IV, the Lender shall on the date of the proposed Loan, make available to the Borrower at the account or accounts specified in the Notice of Borrowing, in immediately available federal funds, the Loan. (c) The Borrower may not request more than one (1) Loan per calendar month. (d) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. The Borrower shall indemnify the Lender against any loss, cost or expense incurred by the Lender as a result of any failure to fulfill on or before the date specified in any Notice of Borrowing for a proposed Loan the applicable conditions set forth in Article 4IV, including, without limitation, any loss (including, without limitation, loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by the Lender to fund any Loan to be made by the Lender when such Loan, as a result of such failure, is not made on such date.

Making the Loans. (a) Each Subject to the terms and conditions hereof, each Loan shall be made on notice, notice given by the Borrower to the Lender not later than 12:00 noon by 11:00 A.M. (New York City time) on the fifth (5th) third Business Day prior to the date of the proposed making of such Loan. Each such notice (a "“Notice of Borrowing"”) shall be substantially in substantially the form of Exhibit B, specifying therein (i) the proposed date for the making of such proposed Loan, (ii) the amount of such proposed Loans constituting the Tranche A Loan, a Tranche B Loan, the Tranche C Loan and/or a Tranche D Loan, and (iii) that the account or accounts to which Borrower has complied with the Loan should be made, applicable terms and (iv) details conditions of the Approved Hotel Facility for which the proceeds of the proposed Loan shall be usedArticle III. (b) Upon fulfillment Each Tranche B Loan shall be in an amount equal to a portion of the applicable conditions purchase price for the purchase or acquisition of Acquisition Targets completed in accordance with the guidelines set forth in Article 4, on Schedule I hereto negotiated by the Lender shall on and the date of the proposed Loan, make available to the Borrower at the account or accounts specified in the Notice of Borrowing, in immediately available federal funds, the LoanBorrower. (c) The Borrower may not request more than one (1) Loan per calendar month. (d) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. The Borrower shall indemnify the Lender against any loss, cost or expense incurred by the Lender as a result of any failure to fulfill on or before the date specified in any such Notice of Borrowing for a such proposed Loan Loan, the applicable conditions set forth in Article 4III, including, without limitation, any loss (including, without limitation, excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by the Lender to fund any Loan to be made by the Lender when such Loan, which, as a result of such failure, is not made on such date.