Common use of Notice of Construction/Term Loan Borrowings Clause in Contracts

Notice of Construction/Term Loan Borrowings. (a) From time to time, but no more frequently than twice per calendar month (except as required for the payment of interest or Commitment Fees during the Construction/Term Loan Availability Period, and for any draw of remaining Construction/Term Loan Commitments on the last day of the Construction/Term Loan Availability Period), subject to the limitations set forth in Section 2.1, the Borrower may request a Construction/Term Loan Borrowing by delivering to the TCF Administrative Agent and the P1 Collateral Agent a properly completed Borrowing Notice not later than 11:00 a.m., New York City time, on or before the fifth U.S. Government Securities Business Day prior to the proposed Borrowing Date; provided, that the notice periods set forth in this clause (a) shall not apply with respect to the Borrowing Notice for the Construction/Term Loan Borrowing on the Closing Date, which Borrowing Notice may be delivered no later than 1:00 p.m. on the Business Day before the Closing Date. |US-DOCS\145399031.8|| (b) Each Borrowing Notice delivered pursuant to this Section 2.2 shall refer to this Agreement and specify: (i) the amount of such requested Construction/Term Loan Borrowing; (ii) the requested date of the Construction/Term Loan Borrowing (which shall be a Business Day); (iii) whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans; and (iv) that each of the conditions precedent to such Construction/Term Loan Borrowing has been satisfied or waived as required hereunder. (c) The currency specified in a Borrowing Notice must be Dollars. (d) The amount of the proposed Construction/Term Loan Borrowing must be an amount that is no more than the undisbursed Aggregate Construction/Term Loan Commitment and (i) not less than $10,000,000 and an integral multiple of $1,000,000 or (ii) if the undisbursed Aggregate Construction/Term Loan Commitment is less than $10,000,000, equal to the undisbursed Aggregate Construction/Term Loan Commitment. (e) The TCF Administrative Agent shall promptly (and in any event on the same Business Day, or, if such Borrowing Notice is delivered to the TCF Administrative Agent later than 1:00 p.m., New York City time, on the following Business Day) notify each Senior Lender of any Borrowing Notice delivered pursuant to this Section 2.2, together with each such Senior Xxxxxx’s share of the requested Construction/Term Loan Borrowing (based on such Senior Lender’s Construction/Term Loan Tranche Percentage). (f) If no election as to whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans, then the requested Construction/Term Loan Borrowing shall be Base Rate Loans.

Notice of Construction/Term Loan Borrowings. (a) From time to time, but no more frequently than twice per calendar month (except as required for the payment of interest interest, or Commitment Fees Fees, during the Construction/Term Loan Availability Period, and for any draw of remaining Construction/Term Loan Commitments on the last day of the Construction/Term Loan Availability Period), subject to the limitations set forth in Section 2.1, the Borrower may request a Construction/Term Loan Borrowing by delivering to the TCF Administrative Agent and the P1 Collateral Agent a properly completed Borrowing Notice not later than 11:00 a.m., New York City time, on or before the fifth U.S. Government Securities Business Day prior to the proposed Borrowing Date; provided, that the notice periods set forth in this clause (a) shall not apply with respect to the Borrowing Notice for the Construction/Term Loan Borrowing on the Closing Date, which Borrowing Notice may be delivered no later than 1:00 p.m. on the Business Day before the Closing Date. |US-DOCS\145399031.8||. (b) Each Borrowing Notice delivered pursuant to this Section 2.2 shall refer to this Agreement and specify: (i) the amount of such requested Construction/Term Loan Borrowing; (ii) the requested date of the Construction/Term Loan Borrowing (which shall be a Business Day); (iii) whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans; and (iv) that each of the conditions precedent to such Construction/Term Loan Borrowing has been satisfied or waived as required hereunder. (c) The currency specified in a Borrowing Notice must be Dollars. (d) The amount of the proposed Construction/Term Loan Borrowing must be an amount that is no more than the undisbursed Aggregate Construction/Term Loan Commitment and (i) not less than $10,000,000 and an integral multiple of $1,000,000 or (ii) if the undisbursed Aggregate Construction/Term Loan Commitment is less than $10,000,000, equal to the undisbursed Aggregate Construction/Term Loan Commitment. (e) The TCF Administrative Agent shall promptly (and in any event on the same Business Day, or, if such Borrowing Notice is delivered to the TCF Administrative Agent later than 1:00 p.m., New York City time, on the following Business Day) notify each Senior Lender of any Borrowing Notice delivered pursuant to this Section 2.2, together with each such Senior Xxxxxx’s share of the requested Construction/Term Loan Borrowing (based on such Senior Lender’s Construction/Term Loan Tranche Percentage). (f) If no election as to whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans, then the requested Construction/Term Loan Borrowing shall be Base Rate Loans.

Notice of Construction/Term Loan Borrowings. (a) From time to time, but no more frequently than twice per calendar month (except as required for the payment of interest or Commitment Fees during the Construction/Term Loan Availability Period, and for any draw of remaining Construction/Term Loan Commitments on the last day of the Construction/Term Loan Availability Period), subject to the limitations set forth in Section 2.1, the Borrower may request a Construction/Term Loan Borrowing by delivering to the TCF P1 Administrative Agent and the P1 Collateral Agent a properly completed Construction/Term Loan Borrowing Notice not later than 11:00 a.m., New York City time, on or before the fifth U.S. Government Securities Business Day prior to the proposed Borrowing Date; provided, that the notice periods set forth in this clause (a) shall not apply with respect to the Construction/Term Loan Borrowing Notice for the Construction/Term Loan Borrowing on the Closing Date, which Construction/Term Loan Borrowing Notice may be delivered no later than 1:00 p.m. on the Business Day before the Closing Date. |US-DOCS\145399031.8||. (b) Each Construction/Term Loan Borrowing Notice delivered pursuant to this Section 2.2 shall refer to this Agreement and specify: (i) the amount of such requested Construction/Term Loan Borrowing; (ii) the requested date of the Construction/Term Loan Borrowing (which shall be a Business Day); (iii) whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans; and (iv) that each of the conditions precedent to such Construction/Term Loan Borrowing has been satisfied or waived as required hereunder. (c) The currency specified in a Construction/Term Loan Borrowing Notice must be Dollars. (d) The amount of the proposed Construction/Term Loan Borrowing must be an amount that is no more than the undisbursed Aggregate Construction/Term Loan Commitment and (i) not less than $10,000,000 and an integral multiple of $1,000,000 or (ii) if the undisbursed Aggregate Construction/Term Loan Commitment is less than $10,000,000, equal to the undisbursed Aggregate Construction/Term Loan Commitment. (e) The TCF P1 Administrative Agent shall promptly (and in any event on the same Business Day, or, if such Construction/Term Loan Borrowing Notice is delivered to the TCF P1 Administrative Agent later than 1:00 p.m., New York City time, on the following Business Day) notify each Senior Construction/Term Lender of any Construction/Term Loan Borrowing Notice delivered pursuant to this Section 2.2, together with each such Senior XxxxxxConstruction/Term Lender’s share of the requested Construction/Term Loan Borrowing (based on such Senior Construction/Term Lender’s Construction/Term Loan Tranche Percentage). (f) If no election as to whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans, then the requested Construction/Term Loan Borrowing shall be Base Rate Loans.

Notice of Construction/Term Loan Borrowings. (a) From time to time, but no more frequently than twice per calendar month (except as required for the payment of interest interest, or Commitment Fees Fees, during the Construction/Term Loan Availability Period, and for any draw of remaining Construction/Term Loan Commitments on the last day of the Construction/Term Loan Availability Period), subject to the limitations set forth in Section 2.1, the Borrower may request a Construction/Term Loan Borrowing by delivering to the TCF P1 Administrative Agent and the P1 Collateral Agent a properly completed Construction/Term Loan Borrowing Notice not later than 11:00 a.m., New York City time, on or before the fifth U.S. Government Securities Business Day prior to the proposed Borrowing Date; provided, that the notice periods set forth in this clause (a) shall not apply with respect to the Construction/Term Loan Borrowing Notice for the Construction/Term Loan Borrowing on the Closing Date, which Construction/Term Loan Borrowing Notice may be delivered no later than 1:00 p.m. on the Business Day before the Closing Date. |US-DOCS\145399031.8||. (b) Each Construction/Term Loan Borrowing Notice delivered pursuant to this Section 2.2 shall refer to this Agreement and specify: (i) the amount of such requested Construction/Term Loan Borrowing; (ii) the requested date of the Construction/Term Loan Borrowing (which shall be a Business Day); (iii) whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans; and (iv) that each of the conditions precedent to such Construction/Term Loan Borrowing has been satisfied or waived as required hereunder. (c) The currency specified in a Construction/Term Loan Borrowing Notice must be Dollars. (d) The amount of the proposed Construction/Term Loan Borrowing must be an amount that is no more than the undisbursed Aggregate Construction/Term Loan Commitment and (i) not less than $10,000,000 and an integral multiple of $1,000,000 or (ii) if the undisbursed Aggregate Construction/Term Loan Commitment is less than $10,000,000, equal to the undisbursed Aggregate Construction/Term Loan Commitment. (e) The TCF P1 Administrative Agent shall promptly (and in any event on the same Business Day, or, if such Construction/Term Loan Borrowing Notice is delivered to the TCF P1 Administrative Agent later than 1:00 p.m., New York City time, on the following Business Day) notify each Senior Construction/Term Lender of any Construction/Term Loan Borrowing Notice delivered pursuant to this Section 2.2, together with each such Senior XxxxxxConstruction/Term Lender’s share of the requested Construction/Term Loan Borrowing (based on such Senior Construction/Term Lender’s Construction/Term Loan Tranche Percentage). (f) If no election as to whether the requested Construction/Term Loan Borrowing is of SOFR Loans or Base Rate Loans, then the requested Construction/Term Loan Borrowing shall be Base Rate Loans.