Common use of Manner and Disbursement of Loans Clause in Contracts

Manner and Disbursement of Loans. A Borrower shall give written notice to the Lender (each, a “Notice of Borrowing”) substantially in the form attached hereto as Exhibit B (Notice of Borrowing) or in such other form acceptable to the Lender, by no later than 11:00 a.m. (Chicago time) on the date such Borrower requests the Lender to make a Loan hereunder. Each such notice shall specify the date of the Loan requested (which must be a Business Day) and the amount of such Loan. Each Borrower agrees that the Lender may rely upon any written notice given by any person the Lender in good faith reasonably believes is an Authorized Representative without the necessity of independent investigation. Subject to the provisions of Section 6 hereof, the proceeds of each Loan shall be made available to the Borrower requesting such Loan by wire transfer in U.S. Dollars in accordance with written instructions to the Lender from such Borrower on the date specified in the Notice of Borrowing if such Notice of Borrowing has been given no later than 11:00 a.m. (Chicago time), or if given after 11:00 a.m. (Chicago time), on the next Business Day.

Appears in 5 contracts

Samples: Credit Agreement (NT Equity Long/Short Strategies Fund), Credit Agreement (NT Equity Long/Short Strategies Fund), Credit Agreement (NT Alpha Strategies Fund)

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