Common use of Requests for Term Loans Clause in Contracts

Requests for Term Loans. Except with respect to the initial Term Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit D hereto (or telephonic notice confirmed in writing in the form of Exhibit D hereto) of each Term Loan requested hereunder (a “Loan Request”) by 2:00 p.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and three (3) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Term Loan the proposed principal amount of such Term Loan, the Type of Term Loan, the initial Interest Period (if applicable) for such Term Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §7.19) and (ii) a certification by the chief financial officer or chief accounting officer of the Borrower that no Default or Event of Default has occurred and is continuing after giving effect to such Term Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Lenders thereof. Each such 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 proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Lender that fails to advance its proportionate share of a requested Term Loan as required by this Agreement.

Requests for Term Loans. Except with respect to the initial Term Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit D G hereto (or telephonic notice confirmed in writing in the form of Exhibit D G hereto) of each Term Loan requested hereunder (a “Term Loan Request”) by 2:00 p.m. 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Term Base Rate Loans and three (3) Business Days prior to the proposed Drawdown Date with respect to Term LIBOR Rate Loans. Each such notice shall specify with respect to the requested Term Loan the proposed principal amount of such Term Loan, the Type of Term Loan, the initial Interest Period (if applicable) for such Term Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §7.192.9) and (ii) a certification by the chief financial officer or officer, chief accounting officer or accounting officer reasonably approved by Agent of Borrower (or of REIT) that Borrower and Guarantors are and will be in compliance with all covenants under the Borrower that no Default or Event of Default has occurred and is continuing Loan Documents after giving effect to the making and use of such Term Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Term Loan Lenders thereof. Each such Term Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Term Loan requested from the Term Loan Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Term Loan Lender that fails to advance its proportionate share of a requested Term Loan as required by this Agreement. Each Term Loan Request shall be (a) for a Term Loan Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Term Loan LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $1,000,000.00 in excess thereof.

Requests for Term Loans. Except with respect to the initial Term Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit D hereto (or telephonic notice confirmed in writing in the form of Exhibit D hereto) of each Term Loan requested hereunder (a “Loan Request”) by 2:00 p.m. 11:00 a.m. (Cleveland New York City time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and three (3) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Term Loan the proposed principal amount of such Term Loan, the Type of Term Loan, the initial Interest Period (if applicable) for such Term Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §7.192.9) and (ii) a certification by the chief financial officer or chief accounting officer of an Authorized Officer that the Borrower that no Default or Event of Default has occurred and is continuing Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Term Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Lenders thereof. Each such 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 proposed Drawdown Date. Nothing herein Each Loan Request shall prevent be in a minimum aggregate amount of $20,000,000.00; provided, however, that the Borrower from seeking recourse against shall not make more than a total of five (5) Loan Requests and there shall be no more than six (6) LIBOR Rate Loans outstanding at any Lender that fails to advance its proportionate share of a requested Term Loan as required by this Agreementone time.

Requests for Term Loans. Except with respect to the initial Term Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit D hereto (or telephonic notice confirmed in writing in the form of Exhibit D hereto) of each Term Loan requested hereunder (a “Loan Request”) by 2:00 p.m. 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and three (3) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Term Loan the proposed principal amount of such Term Loan, the Type of Term Loan, the initial Interest Period (if applicable) for such Term Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §7.192.9) and (ii) a certification by the chief financial officer or chief accounting officer of an Authorized Officer that the Borrower that no Default or Event of Default has occurred and is continuing Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Term Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Lenders thereof. Each such 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 proposed Drawdown Date. Nothing herein Each Loan Request shall prevent the Borrower from seeking recourse against be in a minimum aggregate amount of $25,000,000.00; provided, however, that there shall be no more than six (6) LIBOR Rate Loans outstanding at any Lender that fails to advance its proportionate share of a requested Term Loan as required by this Agreementone time.