There is no voluntary prepayments of any Mortgage generated hereunder

There is no voluntary prepayments of any Mortgage generated hereunder

There is no voluntary prepayments of any Mortgage generated hereunder

(i) During the Commitment Period, subject to the terms and conditions hereof, including, without limitation delivery of an updated Borrowing Base Certificate and Borrowing Base Report, each Lender severally agrees to make Loans to Company in an aggregate amount up to but not exceeding such Lender’s Commitment; given that no Lender shall make any such Loan or portion thereof to the extent that, after giving effect to such Loan:

(b) Amounts borrowed pursuant to Part dos.1(a) may be reborrowed during the Commitment Period, and any repayment of the Loans (i) subject to clause (ii), on any Interest Payment Date shall be applied as set forth in Part dos.12(a) or ( ii) on any date on which an Event of Default has occurred and is continuing shall be applied as set forth in Area 2.12(b).

(ii) Whenever Team desires you to Loan providers build Financing, Business shall send in order to Expenses Representative, Administrative Agent each Bank a completely carried out and produced Investment See zero later on than Noon (New york big date) about two (2) Working days prior to new advised Borrowing Time. For every single Investment Notice should be produced with a credit Foot Certification highlighting enough Access on requested Finance and you can a borrowing from the bank Base Statement.

(iii) For every Lender should make quantity of its Mortgage offered to the Expenses Representative maybe not afterwards than just a.meters. (Nyc day) towards applicable Borrowing from the bank Time by cord transfer regarding same date finance within the Bucks, and you can abreast of the latest written assistance of your own Management Agent, this new Spending Agent should remit such as finance to help you Organization not later on than simply cuatro:00 p.meters. (New york date) because of the cable transfer out-of exact same date loans during the Dollars into membership appointed by Company on the related Money Find (which need never be an account of the Company). In the event your Purchasing Representative hasn’t gotten a composed recommendations regarding the newest Management Agent because of the 4:00 p.m. (Nyc big date), Spending Broker have a tendency to wire such as money returning to appropriate Lenders.

(d) . All payments of principal, interest, fees, unpaid Transaction Costs, and other amounts payable to Lenders or parties under this Agreement or any Credit Document may be paid from the proceeds of Loans, made pursuant to a Funding Notice from Company pursuant to Section dos.1(c)(ii).

Considered Requests Finance to pay Called for Costs

(i) Requests Boost. So long as (i) no Event of Default or Default has occurred and is continuing, (ii) the Total Utilization of Commitments is at least equal to 50% of the Commitments of all Lenders and (iii) each Lender has been provided with any diligence and cash flow audit information it has requested and had adequate time to review, upon notice to the Administrative Agent and each Lender, Company may from time to time request an increase in the Commitment with respect to any Lender (with the written consent of the Administrative Agent in its sole and absolute discretion) at any time following the Closing Date and prior to the Commitment Termination Date with respect to such Lender.

Each Lender’s Connection should end toward Union Cancellation Date and you may the Loans and all sorts of other amounts owed hereunder with respect to brand new Funds therefore the Obligations will be paid in full zero later compared to the Readiness Day

(ii) Elections to increase. Each Lender being asked to increase its Commitment shall notify Company whether or not such Person agrees, in its respective sole and absolute discretion, to the increase to such Commitment. Any such Person not responding within 10 Business Days after receipt of such request for an increase debit card payday loans Susanville shall be deemed to have declined to consent to an increase in such Lender’s Commitment.