Procedure of Advances. (a) Each Draw Request shall be submitted to Lender and Construction Consultant at least ten (10) Business Days prior to the Requested Advance Date, and no more frequently than monthly. Lender shall make the requested Advance on the Requested Advance Date so long as all conditions to such Advance are satisfied or waived.
Procedure of Advances. (a) Each Draw Request shall be submitted to Agent and the Construction Consultant at least eight (8) Business Days prior to the Borrowing Date for the requested Advance, and no more frequently than monthly except as otherwise provided in Section 2.10.2. Not less than three (3) London Business Days prior to the Borrowing Date, Agent shall deliver written notice to each Lender at the address specified by each Lender from time to time which notice shall include the Borrowing Date and such Lender's Ratable Share of such Advance. Agent shall include with such notice a copy of the Draw Request, to the extent not previously delivered and to the extent in Agent's possession, and Agent shall promptly deliver to each Lender all items in respect of such Advance received by Agent after the date of such notice. Lenders shall make the requested Advance on the Borrowing Date so long as all conditions to such Advance are satisfied or waived. Unless otherwise notified by Agent, each Lender may assume that all conditions to such Advance are satisfied or waived on the Borrowing Date.
Procedure of Advances. (a) Each Borrower’s Requisition shall be submitted to Administrative Agent at least ten (10) Business Days prior to the date of the requested Future Advance (the “Requested Advance Date”). The Lenders shall make the requested Future Advance on the Requested Advance Date so long as all conditions to such Future Advance are satisfied or waived; provided that Borrower may revoke such Borrower’s Requisition at any time prior to the Requested Advance Date upon prior notice to Administrative Agent (subject to payment of any Breakage Costs and any out-of-pocket costs or expenses incurred by Administrative Agent or Lenders in connection with such revocation). (b) In no event shall the Lenders be required to advance Future Advance funds in an amount less than the Minimum Advance Amount (except in respect of any final Future Advance). 2.7.3
Procedure of Advances. (a) Each Borrower’s Requisition shall be submitted to Administrative Agent at least ten (10) Business Days prior to the date of the requested Future Advance (the “Requested Advance Date”). Lenders shall make the requested Future Advance on the Requested Advance Date so long as (i) all conditions to such Future Advance are satisfied or waived, (ii) all conditions to a concurrent Future Advance (as defined in the Building Loan Agreement) are satisfied or waived and (iii) subject to Section 2.6.2(a)(vi), Mezzanine Lender makes its corresponding Future Advance (as defined in the Mezzanine Loan Agreement) on the Requested Advance Date in an amount equal to Mezzanine Lender’s Percentage of the costs to be paid, in part, with such Future Advance; provided that Borrower may revoke such Borrower’s Requisition at any time prior to the Requested Advance Date upon prior notice to Administrative Agent (subject to payment of any Breakage Costs and any out-of-pocket costs or expenses incurred by Administrative Agent or Lenders in connection with such revocation). Borrower shall be permitted to deliver a single Borrower’s Requisition for the Loan, the Building Loan and the Mezzanine Loan.
Procedure of Advances. (a) Not later than two (2) Business Days prior to the Borrowing Date with respect to any Advance, Agent shall deliver written notice to each Lender at the address specified by such Lender from time to time which notice shall include the Borrowing Date and such Lender's ratable share of such Advance. The Lenders shall make the requested Advance on the Borrowing Date so long as all conditions to such Advance are satisfied as reasonably determined by Agent or are waived by Agent. Unless otherwise notified by Agent, each Lender may assume that all conditions to such Advance are satisfied on the Borrowing Date.
Procedure of Advances. If Borrower shall have complied with the provisions of this Section 3.1.6, Lender shall make the requested Project Advance available to Borrower on the Advance Date set forth in the applicable Project Advance Request in accordance with the terms of this Section 3.1.6(c).
Procedure of Advances. (a) Each Borrower’s Requisition shall be submitted to Administrative Agent at least ten (10) Business Days prior to the date of the requested Future Advance (the “Requested Advance Date”). Lenders shall make the requested Future Advance on the Requested Advance Date so long as (i) all conditions to such Future Advance are satisfied or waived, (ii) all conditions to a concurrent Future Advance (as defined in the Building Loan Agreement) are satisfied or waived and (iii) subject to Section 2.6.2(a)(vi), Mortgage Lender makes its corresponding Future Advance (as defined in the Senior Loan Agreement) on the Requested Advance Date in an amount equal to Mortgage Lender’s Percentage of the costs to be paid, in part, with such Future Advance; provided that Borrower may revoke such Borrower’s Requisition at any time prior to the Requested Advance Date upon prior notice to Administrative Agent (subject to payment of any Breakage Costs and any out-of-pocket costs or expenses incurred by Administrative Agent or Lenders in connection with such revocation). Borrower shall be permitted to deliver a single Borrower’s Requisition for the Loan, the Building Loan and the Senior Loan.
Procedure of Advances. (a) Not less than three (3) Business Days prior to the Borrowing Date, the Agent shall deliver written notice to each Lender at the address specified by each Lender from time to time which notice shall include the Borrowing Date and such Lender’s ratable share of such Advance. Within seven (7) days after the Borrowing Date, the Agent shall deliver to each Lender any items reasonably requested by the Agent or a Lender to the extent such items have not previously been delivered and to the extent in the Agent’s possession, but Agent’s failure to do so shall not affect Borrower’s rights under this Agreement. The Lenders shall make the requested Advance on the Borrowing Date so long as all conditions to such Advance are satisfied as determined by the Agent. Unless otherwise notified by the Agent, each Lender may assume that all conditions to such Advance are satisfied on the Borrowing Date.
Procedure of Advances. (a) Each Draw Request shall be submitted to Agent and the Construction Consultant at least eight (8) Business Days prior to the Borrowing Date for the requested Advance, and no more frequently than monthly except as otherwise provided in Section 2.10.2. Not less than three (3) London Business Days prior to the Borrowing Date, Agent shall deliver written notice to each Lender at the address specified by each Lender from time to time which notice shall include the Borrowing Date and such Lender's Ratable Share of such Advance. Agent shall include with such notice a copy of the Draw Request, to the extent not previously delivered and to the extent in Agent's possession, and Agent shall promptly deliver to each Lender all items in respect of such Advance received by Agent after the date of such notice. Lenders shall make the requested Advance on the Borrowing Date so long as all conditions to such Advance are satisfied or waived. Unless otherwise notified by Agent, each Lender may assume that all conditions to such Advance are satisfied or waived on the Borrowing Date. (b) Not later than 11:00 a.m. New York City time, on the Borrowing Date, each Lender shall make available for the account of Agent at its address referred to in Section 10.6, in same day funds, such Lender's ratable portion of such Advance. After Agent's receipt of such funds and upon fulfillment of the applicable conditions in Article II, Agent will make such funds available to Borrower in accordance with the terms of this Section 2.10. (c) Unless Agent shall have received notice from a Lender prior to the Borrowing Date that such Lender will not make available to Agent such Lender's ratable portion -29- <PAGE> of such Advance, Agent may assume that such Lender has made such portion available to Agent on the Borrowing Date in accordance with Section 2.10.4(b), and Agent may, in reliance upon such assumption, make available to Borrower on the Borrowing Date a corresponding amount. If and to the extent that any of Lenders (the "DEFAULTING LENDER") shall not have so made such ratable portion available to Agent (individually, a "DEFICIENCY," and collectively, "DEFICIENCIES"), and Agent has advanced such amount to Borrower, such Defaulting Lender agrees to repay to Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to Borrower until the date such amount is repaid to Agent at the Default Rate. If such Defaulting...
Procedure of Advances. (a) Each Draw Request shall be submitted to Lender and Construction Consultant at least ten (10) Business Days prior to the Requested Advance Date, and no more frequently than monthly. Lender shall make the requested Advance on the Requested Advance Date so long as all conditions to such Advance are satisfied or waived. (b) Not later than 11:00 A.M. New York City time, on the Requested Advance Date, Lender shall make such Advance available to Borrower in accordance with the terms of this Section 2.14. (c) Each Advance (other than the Final Advance) shall be in an amount of not less than $250,000.00. (d) Each Advance shall be made on a Payment Date. 2.14.3
