Request for the Term Loan. The following provisions shall apply to the initial request by the Borrower for the Term Loan: (i) The Borrower shall submit a Completed Loan Request to the Agent. The Completed Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Term Loan requested from the Lenders on the Closing Date. (ii) The Completed Loan Request shall specify: (1) the principal amount of the Term Loan, (2) the Interest Period applicable to such Term Loan (or portions thereof), and (3) the Type of Loan being requested, and certifying that, after giving effect to such requested Term Loan, no Default or Event of Default will exist under this Agreement or any other Loan Document and that, after giving effect to the Term Loan, the Borrower is in compliance with the covenants set forth in §10 (which calculations required by such covenants shall be submitted with such Completed Loan Request). (iii) No Lender shall be obligated to fund any portion of the Term Loan unless: (a) a Completed Loan Request has been timely received by the Agent as provided in subsection (i) above; and (b) both before and after giving effect to the Term Loan to be made pursuant to the Completed Loan Request, all of the conditions contained in §12 shall have been satisfied as of the Closing Date.
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Samples: Secured Term Loan Agreement (First Potomac Realty Trust), Senior Secured Term Loan Agreement (First Potomac Realty Trust), Senior Secured Term Loan Agreement (First Potomac Realty Trust)
Request for the Term Loan. The following provisions shall apply to the initial request by the Borrower for the Term Loan:
(ia) The Borrower shall submit a Completed Loan Request to the Agent, together with a duplicate copy of such Completed Loan Request for each Lender which is then a party to this Agreement at the time such loan request is made. The Completed Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Term Loan requested from the Lenders on the Closing Date.
(iib) The Completed Loan Request shall specifyinclude a completed certificate in the form of Exhibit B hereto specifying: (1) the principal amount of the Term LoanLoan requested, (2) the Interest Period applicable to such the Term Loan (or portions thereof)Loan, and (3) the Type of Loan being requested, and certifying that, both before and after giving effect to such requested the making of the Term Loan, no Default or Event of Default exists or will exist under this Agreement or any other Loan Document and that, after giving effect to the Term Loan, the Borrower is in compliance with the covenants set forth in §10 (which calculations required by such covenants shall be submitted with such Completed Loan Request)Document.
(iiic) No Lender shall be obligated to fund any portion of the Term Loan unless:
(ai) a Completed Loan Request has been timely received by the Agent as provided in subsection clause (ia) above; and
(bii) both before and after giving effect to the Term Loan to be made pursuant to the Completed Loan Request, all of the conditions contained in §12 and §13 shall have been satisfied as of the Closing Date.
(d) The Agent will promptly notify each Lender of the Completed Loan Request and will cause a copy thereof to be delivered to each Lender on the Closing Date.
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