Common use of Procedures for Borrowings Clause in Contracts

Procedures for Borrowings. (a) Until the occurrence of the Program Maturity Date, the Lender will make Advances on any Business Day at the request of a Borrower, subject to and in accordance with the terms and conditions of this Article II and Article III. (b) Each Borrowing shall be made on not less than three Business Days’ notice from the related Borrower to the Agent. Each such notice shall specify (A) the aggregate amount of such Borrowing, which shall be in an amount equal to or greater than $250,000 (which amount applies in the aggregate to both Borrowers) and (B) the date of such Borrowing. Any such notice received by the Agent after 11:00 am New York time will be deemed to have been delivered on the following Business Day. On the date of such Borrowing, the Lender shall, upon satisfaction of the applicable conditions set forth in Article III, make available to the applicable Borrower in same day funds, the amount of such Borrowing by payment to the account which such Borrower has designated in writing.

Procedures for Borrowings. (a) Until the occurrence of the Program Maturity Termination Date, the Lender will make Advances on any Business Day at the request of a the Borrower, subject to and in accordance with the terms and conditions of this Article II and Article III. (b) Each The initial Borrowing and each subsequent Borrowing shall be made on not less than three two Business Days’ notice from the related Borrower to the Agent. Each such notice shall specify (A) the aggregate amount of such Borrowing, which shall be in an amount equal to or greater than $250,000 (which amount applies in the aggregate to both Borrowers) and (B) the date of such Borrowing. Any such notice received by the Agent after 11:00 am New York time will be deemed to have been delivered on the following Business Day. On the date of such Borrowing, the Lender shall, upon satisfaction of the applicable conditions set forth in Article III, make available to the applicable Borrower in same day funds, the amount of such Borrowing by payment to the account which such the Borrower has designated in writing.