Form of Advance Request. Whenever Borrower desires an Advance under this Section 2.1(b), Borrower will notify Bank by facsimile transmission, telephone or email no later than 3:00 p.m. Pacific time (12:00 p.m. Pacific time for wire transfers) (A) on the Business Day that the Advance is to be made if the Advance will be a Prime Rate Advance or (B) at least 3 Business Days prior to the day the Advance is to be made if the Advance will be a LIBOR Loan. Each such notification shall be promptly confirmed by a Loan Advance/Paydown Request Form. Bank is authorized to make Advances under this Agreement based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances made under this Section 2.1(b) to such deposit account or Obligation as Borrower specifies.
Appears in 4 contracts
Samples: Loan and Security Agreement (NTN Buzztime Inc), Loan and Security Agreement (NTN Buzztime Inc), Loan and Security Agreement (NTN Buzztime Inc)
