Common use of Advances Under Note Clause in Contracts

Advances Under Note. The proceeds of this Note will be advanced to Borrower in more than one advance. Advances under this Note may be requested either orally or in writing by ▇▇▇▇▇▇▇▇ or as provided in this paragraph. Holder may, but need not, require that all oral requests be confirmed in writing. All communications, instructions, or directions by telephone or otherwise to Holder are to be directed to ▇▇▇▇▇▇'s office to which notices are sent under the Loan Agreement. The following persons currently are authorized to request advances and authorize payments under the line of credit until ▇▇▇▇▇▇ receives from Borrower, at ▇▇▇▇▇▇'s address referenced above, written notice of revocation of their authority: any officer of the Borrower. ▇▇▇▇▇▇▇▇ agrees to be liable for all sums either: (A) advanced in accordance with the instructions of an authorized person, or (B) credited to any of ▇▇▇▇▇▇▇▇'s accounts with ▇▇▇▇▇▇. The unpaid principal balance owing on this Note at any time may be evidenced by endorsements on this Note or by ▇▇▇▇▇▇'s internal records, including daily computer print-outs.