Procedure for Borrowing Asset Acquisition Loans. (a) Each borrowing of an Asset Acquisition Loan shall be made upon irrevocable notice by the Borrower (or the Manager, on behalf of the Borrower) to the Lender, which may be given by telephone or email transmission in accordance with the procedures established by the Lender from time to time. Each such notice must be received by the Lender by approximately 12:00 p.m. on the requested Funding Date. Notwithstanding anything to the contrary contained herein, any such telephonic notice may be given by a Responsible Officer of the Borrower (or Manager, on its behalf) or an individual who has been authorized in writing to do so by a Responsible Officer of the Borrower (or Manager, on its behalf). Each such telephonic notice must be confirmed promptly by delivery to the Lender of a written notice (which may be sent via email) from a Responsible Officer of the Borrower (or the Manager, on its behalf). Each such irrevocable notice (whether telephonic or written) shall specify (1) the requested Funding Date, (2) the amount of the Asset Acquisition Loan to be borrowed, (3) the Repayment Date of the Asset Acquisition Loan and (4) such other information as the Lender may reasonably request.
Appears in 4 contracts
Samples: Credit Agreement, Credit Agreement, Credit Agreement
