Common use of Notice, Time and Place of Fundings Clause in Contracts

Notice, Time and Place of Fundings. (i) With respect to each Funding, a Lessee or the Construction Agent, as the case may be, shall give the Lessor and the Agent an irrevocable prior telephone (followed within one Business Day with written) or written notice not later than 11:00 a.m., Atlanta, Georgia time, at least three Business Days prior to the proposed Closing Date or other Funding Date, as the case may be, pursuant, in each case, to a Funding Request in the form of Exhibit A (a "Funding Request"), specifying the Closing Date or subsequent Funding Date, as the case may be, the amount of Funding requested, the Leased Property to which such Funding relates, whether such Funding shall be a LIBOR Advance or a Base Rate Advance or a combination thereof and the Rent Period(s) therefor. All documents and instruments required to be delivered on such Closing Date pursuant to this Master Agreement shall be delivered at the offices of Mayer, Brown, Xxxx & Maw, 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, or at such other location as may be determined by the Lessor, the Construction Agent and the Agent. Each Funding shall occur on a Business Day and shall be in an amount equal to $250,000 or an integral multiple of $25,000 in excess thereof, with the exception of the final draw, which may be for such lesser amount as may be due and owing to fund the balance of the Construction Costs for the related Leased Property. All remittances made by, or caused to be made by, any Lender and the Lessor for any Funding shall be made in immediately available funds by wire transfer to or, as is directed by, the Construction Agent or a Lessee, with receipt by the Construction Agent or such Lessee, as the case may be, not later than 1:00 p.m., Atlanta, Georgia time, on the applicable Funding Date, upon satisfaction or waiver of the conditions precedent to such Funding set forth in Section 3; such funds shall (1) in the case of the initial Funding on a Closing Date, be used to pay the purchase price to the applicable Seller, or ground rent to the applicable Ground Lessor, for the related Land and any Building thereon and pay Construction Costs related to such Land, (2) in the case of each subsequent Funding (other than Alteration Fundings) be paid to the Construction Agent, as agent for the Lessor, for the payment or reimbursement of Construction Costs incurred through such Funding Date and not previously paid or reimbursed or for the Estimated Completion Amount and (3) in the case of each Alteration Funding, be paid to the related Lessee, for the payment or reimbursement of the costs of the related Approved Alterations incurred through such Funding Date and not previously paid or reimbursed. (ii) Unless the Agent shall have received notice from a Funding Party prior to 11:00 a.m. (Atlanta, Georgia time) on any proposed Funding Date that the Funding Party will not make available to the Agent the amount of that Funding Party's Funded Amounts to be funded on such date, the Agent may assume that each Funding Party has made such amount available to the Agent on such Funding Date and the Agent may (but shall not be so required), in reliance upon such assumption, make available to the Construction Agent on such date a corresponding amount. If and to the extent any Funding Party shall not have made the full amount of its Funded Amount to be funded on such date available to the Agent, and the Agent in such circumstances has made available to the Construction Agent the corresponding amount, such Funding Party shall on the next Business Day following such Funding Date make such amount available to the Agent. If such amount is so made available, such payment to the Agent shall constitute such Funding Party's Funding as of the date such amount is so made available for all purposes of the Operative Documents. Upon receipt by the Agent of Basic Rent from the Lessee, the Agent shall be entitled to that portion of such Basic Rent for the period that the Agent funded such Funding Party's Funded Amount, and such Funding Party shall be entitled to that portion of Basic Rent for the period that such Funding Party funded its Funded Amount. Funding by the Agent shall not be deemed to cure the default by the related Funding Party resulting from its failure to fund when required hereunder.

Notice, Time and Place of Fundings. (i) With respect to each Funding, a ---------------------------------- the Lessee or the Construction Agent, as the case may be, shall give the Lessor and the Agent an irrevocable prior telephone (written notice, or irrevocable telephonic notice followed within one Business Day with written) or immediately by written notice (provided that the Lessee's failure to confirm any telephonic notice in writing -------- shall not invalidate any notice so given) not later than 11:00 a.m.12:00 noon, Atlanta, Georgia time, at least three time two Business Days (or one Business Day, provided the related Funding shall be treated as Alternative Rate Advances) prior to the proposed Closing Date or other Funding Date, as the case may be, pursuant, in each case, to a Funding Request in the form of Exhibit A (a "Funding Request"), signed by a --------- --------------- Responsible Officer, specifying the Closing Date or subsequent Funding Date, as the case may be, and the amount of Funding requested, the Leased Property to which such Funding relates, whether such Funding shall be a LIBOR Advance or a Base Rate Advance or a combination thereof and the Rent Period(s) therefor. All documents and instruments required to be delivered on the Closing Date or such Closing subsequent Funding Date pursuant to this Master Agreement shall be delivered at to the offices of MayerXxxxx, Brown, Xxxx Xxxxx & MawXxxxx, 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, or at such other location as may be determined by the Lessor, the Construction Agent Lessee and the Agent. Each Funding shall occur on a Business Day and shall be in an amount equal to $250,000 500,000 or an integral multiple of $25,000 100,000 in excess thereof, with the exception of the final draw, which may be for such lesser amount as may be due and owing to fund the balance of the Construction Costs for the related Leased Property. All remittances made by, or caused to be made by, by any Lender and the Lessor for any Funding shall be made in immediately available funds by wire transfer to or, as is directed by, the Construction Agent or a Lessee, with receipt by the Construction Agent or such Lessee, as the case may be, Lessee not later than 1:00 p.m.12:00 noon, Atlanta, Georgia time, on the applicable Funding Date, upon satisfaction or waiver of the conditions precedent to such Funding set forth in Section 3; such funds shall (1) in the case of the initial Funding on a the Closing Date, be used to pay the purchase price to the applicable Seller, or ground rent Seller for the Land and pay to the applicable Ground LessorLessee development, for the related Land transaction and any Building thereon and pay Construction Costs closing costs related to such Land, and (2) in the case of each subsequent Funding (other than Alteration Fundings) be paid used to pay to the Lessee as the Construction Agent, as agent for the Lessor, Agent for the payment or reimbursement of Construction Costs incurred through such Funding Date and not previously paid or reimbursed or for the Estimated Completion Amount and (3) in the case of each Alteration Funding, be paid to the related Lessee, for the payment or reimbursement of the costs of the related Approved Alterations incurred through such Funding Date and not previously paid or reimbursedcosts. (ii) Unless the Agent shall have received notice from a Funding Party prior to 11:00 a.m. (Atlanta, Georgia time) on any proposed Funding Date that the Funding Party will not make available to the Agent the amount of that Funding Party's Funded Amounts to be funded on such date, the Agent may assume that each Funding Party has made such amount available to the Agent on such Funding Date and the Agent may (but shall not be so required), in reliance upon such assumption, make available to the Construction Agent on such date a corresponding amount. If and to the extent any Funding Party shall not have made the full amount of its Funded Amount to be funded on such date available to the Agent, and the Agent in such circumstances has made available to the Construction Agent the corresponding amount, such Funding Party shall on the next Business Day following such Funding Date make such amount available to the Agent. If such amount is so made available, such payment to the Agent shall constitute such Funding Party's Funding as of the date such amount is so made available for all purposes of the Operative Documents. Upon receipt by the Agent of Basic Rent from the Lessee, the Agent shall be entitled to that portion of such Basic Rent for the period that the Agent funded such Funding Party's Funded Amount, and such Funding Party shall be entitled to that portion of Basic Rent for the period that such Funding Party funded its Funded Amount. Funding by the Agent shall not be deemed to cure the default by the related Funding Party resulting from its failure to fund when required hereunder.

Notice, Time and Place of Fundings. (i) With respect to each Funding, a the Lessee or the Construction Agent, as the case may be, shall give the Lessor and the Agent an irrevocable prior telephone (followed within one Business Day with written) or written notice not later than 11:00 a.m., Atlanta, Georgia time, at least three Business Days prior to the proposed Closing Date or other Funding Date, as the case may be, pursuant, in each case, to a Funding Request in the form of Exhibit A (a "Funding Request"), specifying the Closing Date or subsequent Funding Date, as the case may be, the amount of Funding requested, the Leased Property to which such Funding relates, whether such Funding shall be a LIBOR Advance or Advance, a Base Rate Advance or a combination thereof and the Rent Period(s) therefor. All documents and instruments required to be delivered on such Closing Date pursuant to this Master Agreement shall be delivered at the offices of MayerXxxxx, Brown, Xxxx Xxxxx & MawXxxxx, 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, or at such other location as may be determined by the Lessor, the Construction Agent Lessee and the Agent. Each Funding shall occur on a Business Day and shall be in an amount equal to $250,000 500,000 or an integral multiple of $25,000 100,000 in excess thereof, with the exception of the final draw, which may be for such lesser amount as may be due and owing to fund the balance of the Construction Costs for the related Leased Property. All remittances made by, or caused to be made by, by any Lender and the Lessor for any Funding shall be made in immediately available funds by wire transfer to or, as is directed by, the Construction Agent or a Lessee, with receipt by the Construction Agent or such Lessee, as the case may be, Lessee not later than 1:00 p.m.12:00 noon, Atlanta, Georgia time, on the applicable Funding Date, upon satisfaction or waiver of the conditions precedent to such Funding set forth in Section 3; such funds shall (1) in the case of the initial Funding on a Closing Date, be used to pay the purchase price to the applicable Seller, or ground rent to the applicable Ground Lessor, Seller for the related Land and any Building thereon pay the Lessee development, transaction and pay Construction Costs closing costs related to such Land, and (2) in the case of each subsequent Funding (other than Alteration Fundings) be paid to the Lessee as the Construction Agent, as agent for the Lessor, for the payment or reimbursement of Construction Costs incurred through such Funding Date and not previously paid or reimbursed or for the Estimated Completion Amount and (3) in the case of each Alteration Funding, be paid to the related Lessee, for the payment or reimbursement of the costs of the related Approved Alterations incurred through such Funding Date and not previously paid or reimbursedcosts. (ii) Unless the Agent shall have received notice from a Funding Party prior to 11:00 a.m. (Atlanta, Georgia time) on any proposed Funding Date that the Funding Party will not make available to the Agent the amount of that Funding Party's Funded Amounts to be funded on such date, the Agent may assume that each Funding Party has made such amount available to the Agent on such Funding Date and the Agent may (but shall not be so required), in reliance upon such assumption, make available to the Construction Agent on such date a corresponding amount. If and to the extent any Funding Party shall not have made the full amount of its Funded Amount to be funded on such date available to the Agent, and the Agent in such circumstances has made available to the Construction Agent the corresponding amount, such Funding Party shall on the next Business Day following such Funding Date make such amount available to the Agent. If such amount is so made available, such payment to the Agent shall constitute such Funding Party's Funding as of the date such amount is so made available for all purposes of the Operative Documents. Upon receipt by the Agent of Basic Rent from the Lessee, the Agent shall be entitled to that portion of such Basic Rent for the period that the Agent funded such Funding Party's Funded Amount, and such Funding Party shall be entitled to that portion of Basic Rent for the period that such Funding Party funded its Funded Amount. Funding by the Agent shall not be deemed to cure the default by the related Funding Party resulting from its failure to fund when required hereunder.

Notice, Time and Place of Fundings. (i) With respect to each ---------------------------------- Funding, a the applicable Lessee or the Construction Agent, as the case may be, shall give the Lessor and the Agent an irrevocable prior telephone (followed within one Business Day with written) or written notice not later than 11:00 a.m.12:00 noon, Atlanta, Georgia timeGeorgia, at least three Business Days prior to the proposed Closing Date or other Funding Date, as the case may be, pursuant, in each case, to a Funding Request in the form of Exhibit ------- A (a "Funding Request"), specifying the Closing Date or subsequent Funding Date, - --------------- as the case may be, and the amount of Funding requested, the Leased Property to which such Funding relates, whether such Funding shall be a LIBOR Advance or a Base Rate Advance or a combination thereof and the Rent Period(s) therefor. All documents and instruments required to be delivered on such Closing Date pursuant to this Master Participation Agreement shall be delivered at the offices of MayerXxxxx, Brown, Xxxx Xxxxx & MawXxxxx, 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, or at such other location as may be determined by the Lessor, the Construction Agent such Lessee and the Agent. Each Funding shall occur on a Business Day Closing Date or a Payment Date and shall be in an amount equal to $250,000 500,000 or an integral multiple of $25,000 in excess thereof, with the exception of the final draw, which may be for such lesser amount as may be due and owing to fund the balance of the Construction Costs for the related Leased Property. All remittances made by, or caused to be made by, by any Lender and the Lessor for any Funding shall be made in immediately available funds by wire transfer to or, as is directed by, the Construction Agent or a Lessee, such Lessee with receipt by the Construction Agent or such Lessee, as the case may be, Lessee not later than 1:00 p.m., Atlanta, Georgia time, on the applicable Funding Date, upon satisfaction or waiver of the conditions precedent to such Funding set forth in Section 3; such funds shall --------- (1) in the case of the initial Funding on a Closing Date, be used to pay the purchase price to the applicable Seller, or ground rent to the applicable Ground Lessor, Seller for the related Land and any Building thereon Interest and pay Construction Costs related to such LandLessee such development costs, and (2) in the case of each subsequent Funding (other than Alteration Fundings) in respect of a Construction Land Interest be paid used to pay to the Construction Agent, as agent related Lessee for the Lessor, for the payment or reimbursement of Construction Costs incurred through such Funding Date and not previously paid or reimbursed or for the Estimated Completion Amount and (3) in the case of each Alteration Funding, be paid to the related Lessee, for the payment or reimbursement of the costs of the related Approved Alterations incurred through such Funding Date and not previously paid or reimbursedcosts. (ii) Unless the Agent shall have received notice from a Funding Party prior to 11:00 a.m. (Atlanta, Georgia time) on any proposed Funding Date that the Funding Party will not make available to the Agent the amount of that Funding Party's Funded Amounts to be funded on such date, the Agent may assume that each Funding Party has made such amount available to the Agent on such Funding Date and the Agent may (but shall not be so required), in reliance upon such assumption, make available to the Construction Agent on such date a corresponding amount. If and to the extent any Funding Party shall not have made the full amount of its Funded Amount to be funded on such date available to the Agent, and the Agent in such circumstances has made available to the Construction Agent the corresponding amount, such Funding Party shall on the next Business Day following such Funding Date make such amount available to the Agent. If such amount is so made available, such payment to the Agent shall constitute such Funding Party's Funding as of the date such amount is so made available for all purposes of the Operative Documents. Upon receipt by the Agent of Basic Rent from the Lessee, the Agent shall be entitled to that portion of such Basic Rent for the period that the Agent funded such Funding Party's Funded Amount, and such Funding Party shall be entitled to that portion of Basic Rent for the period that such Funding Party funded its Funded Amount. Funding by the Agent shall not be deemed to cure the default by the related Funding Party resulting from its failure to fund when required hereunder.