Common use of Notice of Advances Clause in Contracts

Notice of Advances. (i) Upon receipt by Agent from Borrower of a written request for Advance in accordance with Section 5 hereof and Borrower’s satisfaction of the requirements set forth in Section 5 hereof, Agent shall give a written notice (a “Notice of Borrowing”) to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days prior to the date of the proposed Advance), setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base received from Borrower supporting such requested Advance; (iii) the amount of all Loans remaining outstanding by each respective Lender; (iv) the outstanding principal balance of the Loan; (v) each such Lender’s Pro Rata Percentage of the requested Advance and (vi) the date on which such Advance is to be made; or (ii) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) a reconciled Borrowing Base Report in the form attached as Exhibit B hereof; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “Collateral Data Report”); and (B) by the close of business on the tenth (10th) Business Day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Report: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Advances”); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “Lender Advance Report”).

Notice of Advances. (i) Upon receipt by Agent from Borrower of a written request for Advance in accordance with Section 5 hereof and Borrower’s 's satisfaction of the requirements set forth in Section 5 hereof, Agent shall give a written notice (a “Notice of Borrowing”) to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days prior to the date of the proposed Advance), setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base received from Borrower supporting such requested Advance; (iii) the amount of all Loans remaining outstanding by each respective Lender; (iv) the outstanding principal balance of the Loan; (v) each such Lender’s 's Pro Rata Percentage of the requested Advance and (vi) the date on which such Advance is to be made; or (ii) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) a reconciled Borrowing Base Report in the form attached as Exhibit B hereofReport; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “Collateral Data Report”); and (B) by the close of business on the tenth (10th) Business Day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Report: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Monthly Advances”); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s 's Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “Lender Advance Report”).

Notice of Advances. (i) Upon receipt by Agent from Borrower of a written request for Advance in accordance with Section 5 hereof and Borrower’s satisfaction of the requirements set forth in Section 5 hereof, Agent shall give a written notice (a “Notice of Borrowing”) to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days prior to the date of the proposed Advance), setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base received from Borrower supporting such requested Advance; (iii) the amount of all Loans remaining outstanding by each respective Lender; (iv) the outstanding principal balance of the Loan; (v) each such Lender’s Pro Rata Percentage of the requested Advance and (vi) the date on which such Advance is to be made; or (ii) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) a reconciled Borrowing Base Report report (a “Borrowing Base Report”) in the form attached as Exhibit B hereofB; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “Collateral Data Report”); and (B) by the close of business on the tenth (10th) Business Day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Report: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Advances”); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “Lender Advance Report”).

Notice of Advances. (i) Upon receipt by Agent from Borrower of a written request for Advance in accordance with Section 5 hereof and Borrower’s 's satisfaction of the requirements set forth in Section 5 hereof, Agent shall give a written notice (a “Notice of Borrowing”"NOTICE OF BORROWING") to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days business days prior to the date of the proposed Advance)) in the form attached hereto as Exhibit B, setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base received from Borrower supporting such requested Advanceaggregate amount of all Loans previously made by each respective Lender; (iii) the amount outstanding principal balance of all Loans remaining outstanding by each respective Lenderthe Revolving Loan Component; (iv) the outstanding principal balance of the LoanTerm Loan Component; (v) the current Interest Rate as determined in accordance with Section 2.3 hereof; (vi) each such Lender’s 's Pro Rata Percentage of the requested Advance and (vivii) the date on which such Advance is to be made; or: at the option of the Agent: (ii) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day business day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) an updated borrowing base report (a reconciled Borrowing Base Report "BORROWING BASE REPORT") in the form attached as Exhibit B hereofL; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “Collateral Data Report”"COLLATERAL DATA REPORT"); and (B) by the close of business on the tenth (10th) Business Day business day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Reportdocuments described in Section 2.1(e)(ii)(A) above: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Advances”"SUMMARY OF WEEKLY ADVANCES"); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s 's Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “Lender Advance Report”"LENDER ADVANCE REPORT").

Notice of Advances. (i) Upon receipt by Agent from Borrower of a written request for Advance in accordance with Section 5 hereof and Borrower’s satisfaction of the requirements set forth in Section 5 hereof, Agent shall give a written notice (a “Notice of Borrowing”) to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days prior to the date of the proposed Advance), setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base Report received from Borrower supporting such requested Advance; (iii) the amount of all Loans remaining outstanding by each respective Lender; (iv) the outstanding principal balance of the Loan; (v) each such Lender’s Pro Rata Percentage of the requested Advance and (vi) the date on which such Advance is to be made; or (ii) or at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) a reconciled Borrowing Base Report in the form attached as Exhibit B hereofReport; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable showing all remaining unsold Inventory (a “Collateral Data Report”); and (B) by the close of business on the tenth (10th) Business Day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Report: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Advances”); , and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “Lender Advance Report”).

Notice of Advances. under the Loan Agreement, etc. (ia) Upon receipt by Agent from Borrower The Company shall give prior written notice to Bear Xxxxxxx of a written each request for an Additional Advance in accordance with under Section 5 hereof and Borrower’s satisfaction 2.10 of the requirements set forth in Section 5 hereof, Agent Initial Loan Agreement as amended by Amendment No. 1 contemporaneously with making such request to the Facility Lenders. The Company shall give a written notice to Bear Xxxxxxx immediately upon either the funding of an Additional Advance (a “Notice together with such evidence thereof as Bear Xxxxxxx may reasonably request) or the refusal of Borrowing”Facility Lender to fund such Additional Advance, as the case may be. (b) The Company shall give each Creditor prompt written notice of any event which upon notice or lapse of time or both would constitute an event of default in respect of any of its outstanding Debt. (c) The Company shall give Bear Xxxxxxx and the Facility Lenders prompt written notice of any event that would permit termination of the Standstill Period pursuant to each Lenderclauses (iii), (which Notice iv), (vi), (vii), (viii), (ix) or (x) of Borrowing Section 1(b) hereof. (d) The Company shall be given give Bear Xxxxxxx prompt written notice of the entering into of the Merger Agreement and Amendment No. 1, the consummation of the Merger, the entering into of the Amendment and the funding by the Facility Lenders of the advances thereunder. (e) Notwithstanding the provisions of the Existing Agreements, during the Standstill Period, the Company shall pay the Price Differential accrued under the Existing Agreements to Bear Xxxxxxx weekly on Friday of each Lender week or, if Friday is not less than two a Business Day, on the next Business Day. (2f) Business Days prior The Company shall not repay any principal outstanding under the Loan Agreement during the Standstill Period. (g) During the Standstill Period (without limiting any obligations under the Existing Agreements), the Company shall deliver to Bear Xxxxxxx at the same time it delivers to the date Facility Lenders, the Disclosure Letter, the Three-Month Business Plan, any Updated Business Plan and all other financial statements and reports required to be provided to the Facility Lenders pursuant to Section 5.5 of the proposed Advance), setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base received from Borrower supporting such requested Advance; (iii) the amount of all Loans remaining outstanding by each respective Lender; (iv) the outstanding principal balance of the Loan; (v) each such Lender’s Pro Rata Percentage of the requested Advance and (vi) the date on which such Advance is to be made; or (ii) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) a reconciled Borrowing Base Report in the form attached as Exhibit B hereof; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “Collateral Data Report”); and (B) by the close of business on the tenth (10th) Business Day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Report: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Advances”); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “Lender Advance Report”)Loan Agreement.

Notice of Advances. (i) Upon receipt by Agent from Borrower of a written request for Advance in accordance with Section 5 hereof and Borrower’s satisfaction of the requirements set forth in Section 5 hereof, Agent shall give a written notice (a “Notice of Borrowing”) to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days business days prior to the date of the proposed Advance), setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base received from Borrower supporting such requested Advance; (iii) the aggregate amount of all Loans remaining outstanding previously made by each respective Lender; (iviii) the outstanding principal balance of the Loan; (iv) the current Interest Rate as determined in accordance with Section 2.3 hereof; (v) each such Lender’s Pro Rata Percentage of the requested Advance and (vi) the date on which such Advance is to be made; or (ii) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day business day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) an updated borrowing base report (a reconciled “Borrowing Base Report Report”) in the form attached as Exhibit B hereofB; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “Collateral Data Report”); and (B) by the close of business on the tenth (10th) Business Day business day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Report: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Advances”); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “Lender Advance Report”).

Notice of Advances. (ia) Upon receipt by Agent from Borrower Each Advance Request, for the purchase of a written request for Portfolio (other than a Small Portfolio), shall, if the Lender requests, be accompanied by a signed and completed Borrowing Base Certificate, to be delivered to Lender prior to 1:00 p.m., New York City time of any Banking Day. Each Advance in accordance with Section 5 hereof and Borrower’s satisfaction Request shall be signed by any of the requirements set forth in Section 5 hereofPresident, Agent shall give a written notice (a “Notice of Borrowing”) to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days prior to the date Chairman of the proposed Advance)Board or Chief Financial Officer of Borrower, setting forth: and shall specify (i) the total amount and purpose of the requested Advance, if the Advance is not for the purchase of a Portfolio, (ii) if the Advance is for the purchase of a Portfolio, (other than a Small Portfolio), a description in detail approved by the Lender of the Portfolio, (iii) if the Advance is for the purchase of a Portfolio, the name of the Seller of the Portfolio and (iv) the amount of the Portfolio Bid, if applicable. Each Advance requested Request and related documents shall be sent by telecopier to Lender at (000) 000-0000 or by overnight courier, to the attention of Xxxxx Xxxx. Upon Lender's request Borrower shall deliver to Lender all information and documents as Lender shall request with respect to each Portfolio to be acquired, other than a Small Portfolio. (b) Within five (5) Banking Days after the actual receipt by Lender of an Advance Request made for a Portfolio Proposal with a Portfolio Bid in excess of $3,000,000, and within one (1) Banking Day after the actual receipt by Lender of any other Advance Request made pursuant to Section 2.3(a) herein, and provided there is no Event of Default and after giving effect to any Advance Request and the Borrower is in compliance with the Borrowing Base, Lender shall credit the amount of such Advance to the Borrower's Operating Account or remit such amount by wire transfer in accordance with the Advance Request. (c) Each Advance Request shall constitute a representation by Borrower that (i) the Advance shall only be used for working capital or the purchase of the Portfolio described in the Advance Request; (ii) the Borrowing Base received from Borrower supporting such requested Advancestatements contained therein are true and correct; (iii) the amount no Event of all Loans remaining outstanding by each respective LenderDefault has occurred; (iv) there has been no material adverse change in the outstanding principal balance business of the Loanany Debtor; and (v) each such there has been no material change in the officers of Asta Funding which have theretofore been certified to Lender’s Pro Rata Percentage of the requested Advance ; and (vi) each Debtor is controlled by Asta Funding or another Affiliate. (d) In the date on which such event any Advance is Request relates to a Portfolio to be made; or (ii) at its optionacquired by an Affiliate, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day following receipt by Agent from Borrower, but in no event later than the 30th day irrespective of the month: (i) a reconciled Borrowing Base Report in the form attached Portfolio Acquisition Cost of such Portfolio, prior to Lender making such Advance, such Affiliate shall execute and deliver its Affiliate Guaranty, Affiliate Security Agreement, Affiliate Confirmation, UCC-1 Financing Statements and all such other documents as Exhibit B hereof; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “Collateral Data Report”); and (B) by the close of business on the tenth (10th) Business Day following receipt by Agent from Borrower Lender shall request, including, evidence of the Borrowing Base Report and the Collateral Data Report: (i) a summary of all Advances made by Agent during the immediately preceding month (a “Summary of Weekly Advances”); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s Advance required good standing of such Lender with respect Affiliate and UCC Searches, all in form acceptable to all Advances made during the immediately preceding month (a “Lender Advance Report”)Lender.

Notice of Advances. (i) Upon receipt by Agent from Borrower of a written request for Advance in accordance with Section 5 hereof and Borrower’s 's satisfaction of the requirements set forth in Section 5 hereof, Agent shall give a written notice (a “Notice of Borrowing”"NOTICE OF BORROWING") to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two (2) Business Days business days prior to the date of the proposed Advance)) in the form attached hereto as Exhibit B, setting forth: (i) the total amount of the Advance requested by Borrower; (ii) the Borrowing Base received from Borrower supporting such requested Advanceaggregate amount of all Loans previously made by each respective Lender; (iii) the amount outstanding principal balance of all Loans remaining outstanding by each respective Lenderthe Revolving Loan Component; (iv) the outstanding principal balance of the LoanTerm Loan Component; (v) the current Interest Rate as determined in accordance with Section 2.3 hereof; (vi) each such Lender’s 's Pro Rata Percentage of the requested Advance and (vivii) the date on which such Advance is to be made; or, at the option of the Agent: (ii) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day business day following receipt by Agent from Borrower, but in no event later than the 30th day of the month: (i) an updated borrowing base report (a reconciled "Borrowing Base Report Report") in the form attached as Exhibit B hereofL; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “"Collateral Data Report”"); and (B) by the close of business on the tenth (10th) Business Day business day following receipt by Agent from Borrower of the Borrowing Base Report and the Collateral Data Reportdocuments described in Section 2.1(e)(ii)(A) above: (i) a summary of all Advances made by Agent during the immediately preceding month (a “"Summary of Weekly Advances”"); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s 's Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “"Lender Advance Report”").

Notice of Advances. (ia) Upon receipt by Agent TFC from Borrower of a written request for an Advance in accordance with Section 5 hereof and Borrower’s 's satisfaction of the requirements set forth in Section 5 hereof, Agent TFC shall give a written notice (a “"Notice of Borrowing”") to each Lender, (which Notice of Borrowing shall be given to each Lender not less than two one (21) Business Days business day prior to the date of the proposed Advance), ) in the form attached hereto as Exhibit O setting forth: (i) the total amount of the Advance requested by BorrowerBorrower and whether it is a request for an Advance under the Acquisition/Construction Loan Component or under the Revolving Loan Component; (ii) the Borrowing Base received from Borrower supporting such requested Advanceaggregate amount of all Loans previously made by each respective Lender; (iii) the amount outstanding principal balance of all Loans remaining outstanding by each respective Lenderthe Revolving Loan Component; (iv) the outstanding principal balance of the LoanAcquisition/Construction Loan Component; (v) the current applicable Interest Rate as determined in accordance with Section 2.7 hereof; (vi) each such Lender’s 's Pro Rata Percentage of the requested Advance and (vivii) the date on which such Advance is to be made; or, at the option of the Agent: (iib) at its option, the Agent shall provide to each Lender: (A) each month by the close of business on the fifth (5th) Business Day business day following receipt by Agent TFC from Borrower, but in no event later than the 30th day of the month: (i) an updated borrowing base report (a reconciled "Borrowing Base Report Report") in the form attached as Exhibit B hereofP; and (ii) an updated trial balance and aging report for the Pledged Notes Receivable (a “"Collateral Data Report”"); and (B) by the close of business on the tenth (10th) Business Day business day following receipt by Agent TFC from Borrower of the Borrowing Base Report and the Collateral Data Report: documents described in Section 2.5(b)(A) above, (i) a summary of all Advances made by Agent TFC during the immediately preceding month (a “"Summary of Weekly Advances”"); and (ii) a summary report of Advances and repayments or collections for the immediately preceding month and a calculation of the net Lender’s amount of the Advance required of such Lender with respect to all Advances made during the immediately preceding month (a “"Lender Advance Report”").