Common use of Notices of Advances Clause in Contracts

Notices of Advances. The Borrower will give notice substantially in the form of Exhibit B hereto of each Advance (a "Borrowing Notice") to the Initial Lender and the Collateral Agent, which notice shall be irrevocable and effective only upon receipt by the Initial Lender and the Collateral Agent, and which shall specify the date (at least two Business Days prior to the proposed date of such Advance) upon which such borrowing is to occur and the amount of such Advance, which amount, unless otherwise agreed to by the Initial Lender, (a) in the case of the initial Advance, shall not be less than $1,000,000 and (b) in the case of all other Advances, shall not be greater than $5,000,000 nor less than the lesser of (i) the Available Facility Amount and (ii) $1,000,000. Such notice shall be given not later than 12:00 (noon) New York time on the day which is two (2) Business Days prior to the related Closing Date. Any notice received by the Initial Lender after 12:00 (noon) New York time on any Business Day shall be deemed to have been received on the next succeeding Business Day. On the date specified in such notice, the Initial Lender will, subject to the conditions set forth and in accordance with the terms of this Agreement, make an Advance in the aggregate principal amount set forth in such notice. Notwithstanding the foregoing, if any of the Auto Loans subject to such Advance were acquired from an Originator other than AutoBond, then AutoBond shall afford the Initial Lender reasonable opportunity to review such Auto Loans and related Loan Files in advance of the related Borrowing Notice.

Notices of Advances. The Borrower will give notice substantially in the form of Exhibit B A hereto of each Advance (a "Borrowing Notice") to the Initial Lender and the Collateral AgentTrustee, which notice shall be irrevocable and effective only upon receipt by the Initial Lender and the Collateral AgentTrustee, and which shall specify the date (at least two Business Days prior to the proposed date of such Advance) upon which such borrowing is to occur and the amount of such Advance, which amount, unless otherwise agreed to by the Initial Lender, (a) in the case of the initial Advance, shall not be less than $1,000,000 and (b) in the case of all other Advances, shall not be greater than $5,000,000 nor less than the lesser of (i) the Available Facility Amount and (ii) $1,000,000. Such notice shall be given not later than 12:00 (noon) New York time on the day which is two (2) Business Days prior to the related Closing Date. Any notice received by the Initial Lender after 12:00 (noon) New York time on any Business Day shall be deemed to have been received on the next succeeding Business Day. On the date specified in such notice, the Initial Lender will, subject to the conditions set forth and in accordance with the terms of this Agreement, make an Advance in the aggregate principal amount set forth in such notice. Notwithstanding the foregoing, if any of the Auto Loans subject to such Advance were acquired from an Originator other than AutoBond, then AutoBond shall afford the Initial Lender reasonable opportunity to review such Auto Loans and related Loan Files in advance of the related Borrowing Notice.

Notices of Advances. The Borrower will give notice substantially in the form of Exhibit B A hereto of each Advance (a "Borrowing Notice") to the Initial Lender and the Collateral AgentTrustee, which notice shall be irrevocable and effective only upon receipt by the Initial Lender and the Collateral AgentTrustee, and which shall specify the date (at least two Business Days prior to the proposed date of such Advance, except in the case of the Initial Advance) upon which such borrowing is to occur and the amount of such Advance, which amount, unless otherwise agreed to by the Initial Lender, (a) in the case of the initial Advance, shall not be less than $1,000,000 and (b) in the case of all other Advances, shall not be greater than $5,000,000 nor less than the lesser of (i) the Available Facility Amount and (ii) $1,000,000. Such notice shall be given not later than 12:00 (noon) New York time on the day which is two (2) Business Days prior to the related Closing Date or, in the case of the initial Closing Date, on the Initial Closing Date). Any notice received by the Initial Lender after 12:00 (noon) New York time on any Business Day shall be deemed to have been received on the next succeeding Business Day. On the date specified in such notice, the Initial Lender will, subject to the conditions set forth and in accordance with the terms of this Agreement, make an Advance in the aggregate principal amount set forth in such notice. Notwithstanding the foregoing, if any of the Auto Loans subject to such Advance were acquired from an Originator other than AutoBond, then AutoBond shall afford the Initial Lender reasonable opportunity to review such Auto Loans and related Loan Files in advance of the related Borrowing Notice.

Notices of Advances. The Borrower will give notice substantially in the form of Exhibit B A hereto of each Advance (a "Borrowing Notice") to the Initial Lender and the Collateral AgentTrustee, which notice shall be irrevocable and effective only upon receipt by the Initial Lender and the Collateral AgentTrustee, and which shall specify the date (at least two Business Days prior to the proposed date of such Advance, except in the case of the Initial Advance) upon which such borrowing is to occur and the amount of such Advance, which amount, unless otherwise agreed to by the Initial Lender, (a) in the case of the initial Advance, shall not be less than $1,000,000 2,000,000 and (b) in the case of all other Advances, shall not be greater than $5,000,000 nor less than the lesser of (i) the Available Facility Amount and (ii) $1,000,000. Such notice shall be given not later than 12:00 (noon) New York time on the day which is two (2) Business Days prior to the related Closing Date or, in the case of the initial Closing Date, on the Initial Closing Date). Borrowing Notices may be given no more frequently than six (6) times in any single month. Any notice received by the Initial Lender after 12:00 (noon) New York time on any Business Day shall be deemed to have been received on the next succeeding Business Day. On the date specified in such notice, the Initial Lender will, subject to the conditions set forth and in accordance with the terms of this Agreement, make an Advance in the aggregate principal amount set forth in such notice. Notwithstanding the foregoing, if any of the Auto Loans subject to such Advance were acquired from an Originator other than AutoBond, then AutoBond shall (a) obtain the written consent of the Initial Lender to the inclusion of such Auto Loans; provided, however, such consent need not be obtained by AutoBond for Auto Loans acquired from on Originator other than AutoBond and held by AutoBond as of the date hereof, and (b) afford the Initial Lender reasonable opportunity to review such Auto Loans and related Loan Files in advance of the related Borrowing Notice.