Common use of Procedure for Borrowing under Revolving Loan Clause in Contracts

Procedure for Borrowing under Revolving Loan. (a) Not more two (2) times in each calendar month prior to the Maturity Date, and only so long as no Default or Event of Default exists, Borrower may request a Revolving Loan Advance, on any Business Day during the period from and including the Effective Date to and including the Maturity Date, by delivering to Agent, with a copy to the Custodian, a written final request for borrowing, substantially in the form of Exhibit C attached hereto, which request must be received by Agent prior to 11:00 a.m., New York City time, at least five (5) Business Days prior to the requested Funding Date if no new Eligible Mortgage Loans are being pledged to Agent to be included in the Borrower Base in connection with the requested Revolving Loan Advance. Notwithstanding the foregoing requirement that Borrower deliver to Agent each funding request at least five (5) Business Days prior to the Funding Date, Agent and Lender shall endeavor to accommodate funding requests within three (3)