Advance Procedure. Except as hereinafter provided, Borrowers may request an Advance by submitting to Bank a Request for Advance by an authorized representative of Borrowers, subject to the following:
Advance Procedure. Prior to the Commitment Termination Date, the Borrower may from time to time request that an Advance be made. Each Advance following the Initial Advance shall be in an amount that is equal to the lesser of (a) the amount of the Commitment Amount not outstanding, or (b) the allowable Project Equity Advance for the applicable Project. The request shall be made by delivering a Application for Advance to the Lender not less than fifteen (15) calendar days prior to the date upon which such Advance is to be made and, if all such conditions precedent to such Advance have been satisfied, the Lender shall make such Advance directly to the Borrower by wire transfer to the accounts the Borrower shall have specified in its Application for Advance.
Advance Procedure. With respect to each advance and all matters and transactions in connection therewith, Borrower hereby irrevocably authorizes Bank to accept, rely upon, act upon and comply with any oral or written instructions, requests, confirmations and orders of any employee or representative of Borrower who is so authorized or designated as a signer of Loan documents under the provisions of Borrower’s most recent Banking and Borrowing Resolutions or similar document on file with Bank. Borrower acknowledges that the transmission between Borrower and Bank of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as may be necessary to protect its interest. By reason thereof, Borrower hereby assumes all risk of loss and responsibility for, releases and discharges Bank from any and all responsibility or liability for, and agrees to indemnify, reimburse on demand and hold Bank harmless from, any and all claims, actions, damages, losses, liability and expenses by reason of, arising out of, or in any way connected with or related to: (i) Bank’s accepting, relying and acting upon, complying with or observing any such instruction, request, confirmation or order; and (ii) any such error, omission, mistake, or discrepancy, provided such error, omission, mistake or discrepancy is not the result of negligence on the part of Bank. Borrower may request an advance under the Auxiliary Revolver Facility only if such request is accompanied with documents, acceptable to the Bank in its sole discretion, supporting the request and indicating that the proceeds of such advance will be used only for a Permitted Auxiliary Use.
Advance Procedure. (a) Subject to compliance with Section 1.4 and Article VIII, Borrower may request the Advance of the Loan by submitting an Advance Request to Administrative Agent, and Administrative Agent shall promptly notify each Lender of the Advance Request and its contents. An Advance Request is irrevocable and binding on Borrower. Each Advance Request must be received by Administrative Agent no later than 12:00 p.m. Houston, Texas, Time on the third (3rd) Business Day preceding the proposed Advance date.
Advance Procedure. To obtain advances under the Working Capital Note, the Borrower will notify the Lender of the total amount of the requested advance, and will provide to the Lender a Borrowing Base Certificate, together with such additional documents and information as Lender reasonably may request with respect to the Advance. Any request by Borrower for an advance hereunder shall be in writing, or by telephone and in writing, and, unless waived by Lender, must be given so as to be received by Lender not later than noon (Oklahoma City time) on the requested advance Date. Each request for an advance hereunder shall be irrevocable and shall be deemed a representation by Borrower as of the date thereof and after giving effect to the requested advance the applicable conditions specified in Section 7 have been and will be satisfied, except for those conditions waived in writing by Lender with respect to such request. Each request for an advance hereunder shall specify (i) the requested advance date and (ii) the amount to be advanced. Lender may rely on any telephone request by a Senior Officer of Borrower or by Senior Officer of SunLink as agent for the Borrower for an Advance hereunder which it believes in good faith to be genuine (provided that Borrower or SunLink as agent for Borrower shall also be required to promptly confirm to Lender each telephone request in writing); and Borrower hereby waives the right to dispute Lender’s record of the terms of such telephone request. “Senior Officer” means as to Borrower its Chief Executive Officer, President, or Chief Financial Officer, and as to SunLink its Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, Controller or any Executive Vice President. Borrower shall provide the Lender with a certificate as to the current names of such Senior Officers and any other person(s) who are authorized on behalf of Borrower to represent the Borrower in connection with a request for funds under the Working Capital Note.
Advance Procedure. Advances shall be made pursuant to the Company's written or facsimile request therefor (a "Request for an Advance"), given by the Company to Purchasers no later than three (3) Business Days prior to the date of disbursement (other than for the initial Advance hereunder if on the Closing Date) stating the date of the proposed borrowing, and the amount of the aggregate and each Purchaser's Advance. Each Request for an Advance shall be signed by an authorized person of the Company. Each borrowing shall consist of an Advance made by each Purchaser in an amount equal to its Pro-Rata Percentage of such borrowing and shall be in $100,000 multiples from each Purchaser (treating EOF and EOFC as a single Purchaser for this purpose only) and aggregate not less than $1,000,000 from all Purchasers. Each Purchaser shall make available to the Company in immediately available funds the amount of such Purchaser's Pro-Rata Percentage of the Advances on the date requested in the Request for an Advance. In the event that upon any request for an Advance Branxxxx Capital Corporation ("BCC") shall not have received the exemptive order necessary for it to purchase Notes and Warrants as provided herein, then each other Purchaser shall have the option to advance its pro rata portion of the Advance that otherwise would have been required of BCC.
Advance Procedure. Advances shall be made in accordance with a written request therefor executed by (a) Xxxxx Xxxxx, Chief Financial Officer of SBC, or (b) Xxxxxx Man Kit Chow, Chief Financial Officer to SGC and SC, in each case in original form or by facsimile, and delivered to Lender, or an oral telephone request made by Xxxxx Xxxxx or Xxxxxx Man Kit Chow. Any telephonic notice is to be confirmed in writing within 24 hours of the giving of such notice. Advances shall be conclusively deemed to have been made at the request of and for the benefit of the Borrower (i) when credited to any deposit account of Borrower maintained with Lender or (ii) when paid in accordance with Borrower's written or oral instructions. Subject to the conditions precedent contained in Sections 4.1 and 4.2, Advances shall be made by Lender on the second Business Day following receipt by Lender of the related request if such request is received not later than 1:00 p.m. (California time) on a Business Day. Requests for Advances received after such time may, at Lender's option, be deemed to have been received on the next Business Day. No Advances will be made after the Maturity Date.
Advance Procedure. Advances for Project Costs shall be made not more frequently than monthly (or such other intervals reasonably acceptable to the Administrative Agent) and upon not less than five (5) Business Days advance written notice. All requisitions for Direct Costs shall be made on A.I.A. Forms G702 and 703 combined with forms approved by the Administrative Agent, or alternative forms approved by the Administrative Agent, on which the applicable Borrowers and the Borrowers’ general contractor and architect shall certify the percentage of Completion of the Major Project then attained, by line item. All requisitions for Indirect Costs shall be made on forms approved by the Administrative Agent, specifying in reasonable detail the Indirect Cost for which an advance is requested and the amount so requested, and shall be accompanied by evidence acceptable to the Administrative Agent that the Indirect Cost for which the requisition is made has been incurred and is due and owing, or has been paid. Should the Inspector determine that the Estimated Remaining Cost of Completion with respect to Project Costs, for which Delayed Draw Mortgage Loans have been reserved in the Project Budget exceeds the amount of the Delayed Draw Mortgage Loans still available therefor, the applicable Borrowers shall immediately advance such excess amount from separate funds, and any Delayed Draw Mortgage Loans to be advanced in a particular requisition for Project Costs shall be reduced by such excess amount, all with the intent that the Estimated Remaining Cost of Completion with respect to the Project Costs shall not exceed the unadvanced Delayed Draw Mortgage Loans reserved in the Project Budget therefor. The Administrative Agent shall have the right to reasonably require that any requested advances be disbursed through the applicable title insurer and to condition any requested advance upon the submission of lien releases and waivers, bring-down endorsements to the applicable title insurance policies, and such other related submissions as may be reasonably required by the Administrative Agent.
Advance Procedure. Advances on this Loan will be made by telephonic or written communication from a person reasonably believed by the Bank to be an authorized representative of the Borrower. Unless otherwise agreed by the Bank, all advances will be made to a demand deposit account maintained at the Bank in the name of the Borrower.
Advance Procedure. With respect to each advance and all matters and transactions in connection therewith, Borrower hereby irrevocably authorizes Bank to accept, rely upon, act upon and comply with any oral or written instructions, requests, confirmations and orders of any employee or representative of Borrower who is so authorized or designated as a signer of loan documents under the provisions of Borrower's most recent Banking and Borrowing Resolutions or similar document on file with Bank.
