Recording of Advances. Repayments and Conversions ------------------------------------------------- The advances described in the Agreement and made by the Lender to the Borrower, and all repayments made on the account of principal hereof and all conversions of the principal hereof and accrued interest hereon into shares of the Borrower's capital stock shall be recorded by the Lender on the Schedule attached hereto which is a part of this Note; provided, however, that the failure of the Lender so to record on this Note (or any error in recording on this Note) shall not affect the Borrower's obligations hereunder.

Recording of Advances. In the case of every approved advance, a notation shall be made in the books and records required under this Agreement identifying and describing each advance and the Buyer's participation therein. A copy thereof promptly shall be furnished to the Buyer and to Custodian.

Recording of Advances. The Borrower acknowledges that the actual --------------------- recording in the Bank's records of any Advance under this Agreement and interest, fees and other amounts due therefor, recording of credits or debits in the Loan Account, and payments made under this Agreement and the Notes, shall constitute, except for manifest error, prima facie evidence of the Borrower's indebtedness and liability from time to time as agreed to under this Agreement, provided that the failure of the Bank to record the same shall not affect the obligation of the Borrower to pay or repay such indebtedness and liability.

Recording of Advances. A. The Bank shall record Advances under the Line of Credit and all payments made by the Borrower on account of indebtedness evidenced by the Note which are finally paid to the Bank at its office in cash or solvent credits, and may record, in accordance with customary accounting practice, other debits and credits, including all charges and expenses properly chargeable to the Borrower and any other obligation.

Recording of Advances. The Borrower will authorize, issue, execute and deliver to Lender a Note in the aggregate principal amount of the total Advances required to be made by Lender under the provisions of Section II.1 above. The principal amount outstanding under the Note shall be recorded on Lender's internal data control systems and each payment of principal with respect to the Note or any portion thereof, shall be evidenced by entries made by Lender on Lender's internal data control system showing the date and amount of each Advance or each payment of principal with respect thereto. Any such entries reflecting payments made shall be recorded after Lender is in receipt of the reports, documentation and information required pursuant to Section V. 20 hereof, but such payments shall be posted as of the date of Lender's receipt thereof, provided the payments are received from a separate wire transfer from the Agent (which does not include payments due to Lender relating to any other resort operated by Borrower or an affiliate of Borrower) and/or Lender receives reports and documentation from the Servicing Agent that provides sufficient data to enable Lender to compute the amount of said postings. The aggregate unpaid amount of the Note as set forth on the most recent data control system printout of Lender shall be rebuttably presumptive evidence of the sum owing and unpaid on the Note.

Recording of Advances. In the case of every advance, a notation shall be made in the books and records required under this Agreement identifying and describing each advance and each Participant's participation or non-participation therein. A copy thereof promptly shall be furnished to the Participants. Servicer's Fees Ordinary Fees. Servicer shall be paid the fee amount, if any, separately set forth in the Participation Certificate which shall be deducted from the monthly remittance to Buyer. Extraordinary Expenses. It is agreed that any necessary extraordinary services which may be proper under this Agreement, such as the foreclosure of mortgages, property maintenance and improvement, property management, the sale of any foreclosed real estate, repossession of collateral, court actions and similar extraordinary expenses, shall be contracted or done by Servicer at its customary cost for such services, provided such cost is reasonable, and that Servicer will be responsible for the prompt billing of each Participant hereunder for its pro rata share of such expense, and each such Participant shall be required to pay promptly its pro rata share of such extraordinary expenses incurred and billed under this Agreement. To the extent that Servicer is able to recover its costs, the costs of collection shall be reimbursed in the same proportion as contributed by the Participants. For purposes of this Agreement, it shall be presumed that the order of recovery is (i) costs of collection, (ii) late fees, (iii) interest, and (iv) principal Assumption Fees. If under the terms of the Loan Documents, Servicer permits an assumption of the loan by a third Party, a Participant shall promptly receive its pro rata participation in the amount of any assumption fee collected on such loan. Seller shall retain the reminder of any such fee.

Related to Recording of Advances

Funding of Advances (a) Subject to the satisfaction of the conditions precedent set forth in Section 6.2, the Borrower may request Advances hereunder by giving notice to the Facility Agent, each Agent and the Collateral Agent of the proposed Advance at or prior to 2:00 p.m., New York City time, at least one (1) Business Day prior to the proposed Advance Date. Such notice (herein called the “Advance Request”) shall be in the form of Exhibit C-1 and shall include (among other things) the proposed Advance Date and amount of such proposed Advance, and shall, if applicable, be accompanied by an Asset Approval Request setting forth the information required therein with respect to the Collateral Obligations to be acquired by the Borrower on the Advance Date (if applicable). The amount of any Advance shall at least be equal to the least of (w) the Dollar equivalent of $500,000 in an Eligible Currency, (x) the (1) Borrowing Base on such day minus (2) the Advances Outstanding on such day, (y) the (1) Facility Amount on such day minus (2) the Advances Outstanding on such day and (z) only in the case of Advances other than Dollar Advances, the (1) Foreign Currency Sublimit on such day minus (2) the Foreign Currency Advance Amount on such day, in each case, before giving effect to the requested Advance as of such date. Any Advance Request given by the Borrower pursuant to this Section 2.2, shall be irrevocable and binding on the Borrower. The Facility Agent shall have no obligation to lend funds hereunder in its capacity as Facility Agent. Subject to receipt by the Collateral Agent of an Officer’s Certificate of the Borrower confirming the satisfaction of the conditions precedent set forth in Section 6.2, and the Collateral Agent’s receipt of such funds from the Lenders, the Collateral Agent shall make the proceeds of such requested Advances available to the Borrower by deposit to such account as may be designated by the Borrower in the Advance Request in same day funds no later than 3:00 p.m., New York City time, on such Advance Date.
Making of Advances (i) In the event that Agent shall elect to have the terms of this Section 2.3(c) apply to a requested Borrowing as described in Section 2.3(b), then promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall notify the Lenders, not later than 1:00 p.m. (California time) on the Business Day immediately preceding the Funding Date applicable thereto, by telecopy, telephone, or other similar form of transmission, of the requested Borrowing. Each Lender shall make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent’s Account, not later than 10:00 a.m. (California time) on the Funding Date applicable thereto. After Agent’s receipt of the proceeds of such Advances, upon satisfaction of the applicable conditions precedent set forth in Section 3 hereof, Agent shall make the proceeds thereof available to Administrative Borrower on the applicable Funding Date by transferring immediately available funds equal to such proceeds received by Agent to Administrative Borrower’s Designated Account; provided, however, that, subject to the provisions of Section 2.3(i), Agent shall not request any Lender to make, and no Lender shall have the obligation to make, any Advance if Agent shall have actual knowledge that (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the Availability on such Funding Date.
Purpose of Advances The Borrowers undertake with each Creditor Party to use each Advance only for the purpose stated in the preamble to this Agreement.
Conversion of Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.02(b), 2.09 and 2.15, Convert all Advances of one Type comprising the same Borrowing into Advances of the other Type; provided, however, that (i) any Conversion of any Eurodollar Rate Advances into Base Rate Advances shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances, except as provided in Section 2.15, and (ii) Advances comprising a Borrowing may not be Converted into Eurodollar Rate Advances if the outstanding principal amount of such Borrowing is less than $10,000,000 or if any Event of Default under Section 6.01(a) shall have occurred and be continuing on the date the related notice of Conversion would otherwise be given pursuant to this Section 2.16. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower. If any Event of Default under Section 6.01(a) shall have occurred and be continuing on the third Business Day prior to the last day of any Interest Period for any Eurodollar Rate Advances, the Borrower agrees to Convert all such Advances into Base Rate Advances on the last day of such Interest Period.
Types of Advances The Advances may be Floating Rate Advances or Eurodollar Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.8 and 2.9.
Ratable Loans; Types of Advances Each Advance hereunder (other than any Swing Line Loan) shall consist of Revolving Loans made from the several Lenders ratably according to their Pro Rata Shares. The Advances may be Base Rate Advances or Eurocurrency Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.8 and 2.9, or Swing Line Loans selected by the Borrower in accordance with Section 2.4.
Prepayment of Advances No Borrower shall have the right to prepay any principal amount of any Advances other than as provided in this Section 2.07.
Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.
Prepayments of Advances (a) Any Borrower may, upon at least two (2) Business Days’ notice to the Agent stating (i) the proposed date and aggregate principal amount of the prepayment and (ii) the Advances (which shall be part of the same Borrowing) to which such prepayment is to be applied, and if such notice is given such Borrower shall, prepay the outstanding principal amounts of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal Dollar Amount of not less than $10,000,000 and in an integral Dollar Amount multiple of $1,000,000 in excess thereof and (y) in the case of any such prepayment of a Eurocurrency Rate Advance or a TIBO Rate Advance, such Borrower shall be obligated to reimburse the applicable Banks in respect thereof pursuant to Section 8.04(b).
Assumptions Concerning Funding of LIBOR Rate Loans Calculation of all amounts payable to a Lender under this Section 2.17 and under Section 2.18 shall be made as though such Lender had actually funded each of its relevant LIBOR Rate Loans through the purchase of a LIBOR deposit bearing interest at the rate obtained pursuant to clause (i) of the definition of Adjusted LIBOR Rate in an amount equal to the amount of such LIBOR Rate Loan and having a maturity comparable to the relevant Interest Period and through the transfer of such LIBOR deposit from an offshore office of such Lender to a domestic office of such Lender in the United States of America; provided, however, each Lender may fund each of its LIBOR Rate Loans in any manner it sees fit and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 2.17 and under Section 2.18.

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