Making the Term Loan Advances Sample Clauses

Making the Term Loan Advances. Each Borrowing shall be made on request, given not later than 12:00 noon (New York City time) at least seven (7) Business Days prior to the date of the proposed Borrowing, by the Company to the Investor. Each such request by the Company for a Borrowing (a “Borrowing Notice”) shall be by telephone, confirmed immediately in writing (which may be by electronic means), or by telecopier or other electronic means, in substantially the form of Exhibit B hereto, specifying therein (i) the requested date of the Borrowing, which shall be a Business Day, (ii) the requested amount of the Term Loan Advance requested by such Borrowing (net of the Prepaid Interest due and owing on such Borrowing), together with the total principal amount of the Term Loan Advance after taking into account the Prepaid Interest due thereon, (iii) the requested aggregate principal amount of all Term Loan Advances previously borrowed by the Company from the Investor (regardless of whether any such Term Loan Advance has been prepaid or repaid, in whole or in part), (iv) whether such Term Loan Advance shall constitute a Yellowhammer Advance or a Kiewit Advance and the uses for the proceeds of such Borrowing, (v) in the case of a Yellowhammer Advance, whether the Yellowhammer Milestones have been satisfied in full by the Company, to the extent the satisfaction of such Yellowhammer Milestones is a condition precedent to the Borrowing of such Yellowhammer Advance, and (vi) in the case of a Kiewit Advance, whether the Kiewit Milestones have been satisfied in full by the Company. Upon fulfillment of the applicable conditions set forth in Article III, the Investor will make the funds requested in the Borrowing Notice, net of the Prepaid Interest then due and owing to the Investor pursuant to Section 2.03(a)(i), available to the Company no later than 12:00 p.m. (New York City time) on the date of such Borrowing as set forth in the Borrowing Notice, by delivering such funds (in immediately available funds) to the Company’s Account. Each Borrowing Notice shall be irrevocable and binding on the Company.