Common use of Funds for Loans Clause in Contracts

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 9 contracts

Samples: Credit Agreement (Condor Hospitality Trust, Inc.), Credit Agreement (Four Springs Capital Trust), Credit Agreement (Four Springs Capital Trust)

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Funds for Loans. (a) Not later than 1:00 p.m. noon (Cleveland Eastern time) on the proposed Drawdown Closing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth thereintherein (except, in each case, to the extent waived by Agent) to the extent applicable, the Agent will make available to the Borrower Borrowers the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders by crediting such amount to the account of the Borrower Borrowers maintained at the Agent’s Head OfficeOffice or wiring such funds in accordance with the Borrowers’ written instructions. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown the Closing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 4 contracts

Samples: Term Loan Agreement (Independence Realty Trust, Inc.), Term Loan Agreement (Independence Realty Trust, Inc.), Term Loan Agreement (Independence Realty Trust, Inc.)

Funds for Loans. (a) Not Subject to §2.5 and other provisions of this Agreement, not later than 1:00 p.m. (Cleveland Boston time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Loans. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Commitment Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Commitment Percentage.

Appears in 3 contracts

Samples: Revolving Credit and Guaranty Agreement (Sl Green Realty Corp), Revolving Secured Credit and Guaranty Agreement (Sl Green Realty Corp), Pledge and Security Agreement (Sl Green Realty Corp)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and 11 11, §2.11 (if applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its applicable Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s applicable Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 3 contracts

Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)

Funds for Loans. (a) Not later than 1:00 12:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, as instructed by crediting such amount to Borrower not later than 1:00 p.m. (Cleveland time) on the account proposed Drawdown Date of the Borrower maintained at the Agent’s Head Officeany Revolving Credit Loans. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingLoans.

Appears in 3 contracts

Samples: Credit Agreement (Mid-America Apartments, L.P.), Credit Agreement (Mid America Apartment Communities Inc), Credit Agreement (Mid America Apartment Communities Inc)

Funds for Loans. (a) Not later than 1:00 3:00 p.m. (Cleveland Eastern time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Revolving Credit Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.1 or §2.2. Upon receipt from each such Revolving Credit Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower Borrowers the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Revolving Credit Lenders by crediting such amount to the account of the Borrower Borrowers maintained at the Agent’s Head Office. The failure or refusal of any Revolving Credit Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Revolving Credit Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing. In the event of any such failure or refusal, the Lenders not so failing or refusing shall be entitled to a priority secured position as against the Lender or Lenders so failing or refusing to make available to the Borrowers the amount of its or their Commitment Percentage for such Loans as provided in §12.5.

Appears in 3 contracts

Samples: Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland Boston time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Banks will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §Section 2.1. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§Section 10 and Section 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Banks by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head Office. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Bank's Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing, provided that the Borrower may by notice received by the Agent no later than the Drawdown Date refuse to accept any Loan which is not fully funded in accordance with the Borrower's Loan Request subject to the terms of Section 2.6. In the event of any such failure or refusal, the Banks not so failing or refusing shall be entitled to a priority secured position as against the Bank or Banks so failing or refusing for such Loans as provided in Section 12.4.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc), Term Loan Agreement (Wellsford Real Properties Inc), Revolving Credit Agreement (Wellsford Real Properties Inc)

Funds for Loans. (a) Not later than 1:00 2:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans other than Swing Line Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §10 (in the case of Loans to be made on the Closing Date only) and §10 and 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing. In the event of any such failure or refusal, the Lenders not so failing or refusing shall be entitled to a priority secured position as against the Lender or Lenders so failing or refusing to make available to Borrower the amount of its or their Commitment Percentage for such Loans as provided in §12.4.

Appears in 3 contracts

Samples: Revolving and Term Credit Agreement (Forestar Group Inc.), Revolving and Term Credit Agreement (Forestar Group Inc.), Revolving and Term Credit Agreement (Forestar Real Estate Group Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland New York time) on the proposed Drawdown Date of any Revolving Credit the Term Loans, each of the LendersTerm Loan Banks, as applicable, will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such LenderBank’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.2. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans Term Loans, made available to the Agent by the Lenders, as applicableTerm Loan Banks, by crediting such amount to the account of the Borrower maintained at the Agent’s Head OfficeOffice or by transferring such amount to an account designated by Borrower. The failure or refusal of any Lender Term Loan Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Term Loan Bank from its several obligation hereunder to make available to the Agent the amount of such other LenderBank’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject . Agent shall notify each of the Term Loan Banks no later than 2:00 p.m. (New York time) one (1) Business Day prior to the terms and conditions hereof proposed Drawdown Date of such Bank’s Commitment Percentage of the amount of the requested Loans which will be made available by such Bank to provide funds to replace those not advanced by the Lender so failing or refusingAgent on the Drawdown Date.

Appears in 3 contracts

Samples: Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust), Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust), Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust)

Funds for Loans. (a) Not later than 1:00 p.m. noon (Cleveland Eastern time) on the proposed Drawdown Date of any Revolving Credit LoansLoans of any Class, each of the Lenders, Lenders of the applicable Class will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage Applicable Percentage, of the amount of the requested Loans which may be disbursed pursuant to §2.12.1 or §2.2. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, therein to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders of the applicable Class by crediting such amount to the account of the Borrower maintained at the Agent’s Head OfficeOffice or wiring such funds in accordance with Borrower’s written instructions. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage Applicable Percentage, of the requested Loans shall not relieve any other Lender of the applicable Class from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage Applicable Percentage, of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 3 contracts

Samples: Credit Agreement (Plymouth Industrial REIT, Inc.), Credit Agreement (Plymouth Industrial REIT, Inc.), Credit Agreement (Plymouth Industrial REIT Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. Noon (Cleveland Eastern time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, therein to the extent applicable, the Agent will make available to the Borrower Borrowers the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders by crediting such amount to the account of the Borrower Borrowers maintained at the Agent’s Head OfficeOffice or wiring such funds in accordance with Borrower’s written instructions. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing. In the event of any such failure or refusal, the Lenders not so failing or refusing shall be entitled to a priority secured position as against the Lender or Lenders so failing or refusing to make available to the Borrowers the amount of its or their Commitment Percentage for such Loans as provided in §12.5.

Appears in 2 contracts

Samples: Credit Agreement (Bluerock Residential Growth REIT, Inc.), Credit Agreement (Bluerock Residential Growth REIT, Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit LoansLoan, each of the Lenders, Banks will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such LenderBank’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.2. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans Loans, made available to the Agent by the Lenders, as applicableBanks, by crediting such amount to the account of the Borrower maintained at the Agent’s Head OfficeOffice or by transferring such amount to an account designated by Borrower. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other LenderBank’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing. The Borrower may by notice received by the Agent no later than the Drawdown Date refuse to accept any Loan which is not fully funded in accordance with the Borrower’s Loan Request subject to the terms of §2.7. In the event of any such failure or refusal, the Banks not so failing or refusing shall be entitled to a priority position as against the Bank or Banks so failing or refusing for such Loans as provided in §12.5.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Ramco Gershenson Properties Trust), Revolving Credit Agreement (Ramco Gershenson Properties Trust)

Funds for Loans. (a) Not later than 1:00 p.m. noon (Cleveland Eastern time) on the proposed Drawdown Date of any Revolving Credit 2027 Delayed Draw Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Applicable Percentage of the amount of the requested Loans Loans, which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, therein to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, 2027 Term Lenders by crediting such amount to the account of the Borrower maintained at the Agent’s Head OfficeOffice or wiring such funds in accordance with Borrower’s written instructions. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Applicable Percentage of the requested Loans shall not relieve any other Lender of the applicable Class from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Applicable Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.), Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.1 or §2.2. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 2 contracts

Samples: Credit Agreement (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Carter Validus Mission Critical REIT, Inc.)

Funds for Loans. (a) Not Subject to §2.5 and the other provisions of this Agreement, not later than 1:00 p.m. 11:00 a.m. (Cleveland time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Facility Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Loans. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Facility Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Facility Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Facility Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Facility Percentage.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Amerivest Properties Inc), Revolving Credit Agreement (Amerivest Properties Inc)

Funds for Loans. (a) Not Subject to Section 2.5 and other provisions of this Agreement, not later than 1:00 p.m. 11:00 a.m. (Cleveland Boston time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s 's Head Officeoffice, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Loans. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§Sections 10 and or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Commitment Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Commitment Percentage.

Appears in 2 contracts

Samples: Credit Agreement (Prime Group Realty Trust), Credit Agreement (Prime Group Realty Trust)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Banks will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §Section 2.1. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§Section 10 and Section 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Banks by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head Office. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Bank's Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing.

Appears in 1 contract

Samples: Bridge Loan Agreement (Windrose Medical Properties Trust)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Term Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.2. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Term Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date, or on the Merger Effective Date with respect to any Term Loans, the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Term Loan Agreement (Carter Validus Mission Critical REIT II, Inc.)

Funds for Loans. (ar) Not later than 1:00 p.m. noon (Cleveland Eastern time) on the proposed Drawdown Date of any Revolving Credit LoansLoans of any Class, each of the Lenders, Lenders of such Class will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Applicable Percentage of the amount of the requested Loans of such Class which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth thereintherein (except, in each case, to the extent waived by Agent) to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders of such Class by crediting such amount to the account of the Borrower maintained at the Agent’s Head OfficeOffice or wiring such funds in accordance with Borrower’s written instructions. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Applicable Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Applicable Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Joinder Agreement (Independence Realty Trust, Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Banks will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §Section 2.1. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§Section 10 and Section 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Banks by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head Office. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Bank's Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing, provided that the Borrower may by notice received by the Agent no later than the Drawdown Date refuse to accept any Loan which is not fully funded in accordance with the Borrower's Loan Request subject to the terms of Section 2.5. In the event of any such failure or refusal, the Banks not so failing or refusing shall be entitled to a priority secured position as against the Bank or Banks so failing or refusing for such Loans as provided in Section 12.6.

Appears in 1 contract

Samples: Bridge Loan Agreement (Ramco Gershenson Properties Trust)

Funds for Loans. (a) Not Subject to (S)2.5 and other provisions of this Agreement, not later than 1:00 p.m. 11:00 a.m. (Cleveland Boston time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Loans. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and (S)(S)10 or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Commitment Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Commitment Percentage.

Appears in 1 contract

Samples: Credit Agreement (Prime Group Realty Trust)

Funds for Loans. (a) Not Subject to ss.2.5 and other provisions of this Agreement, not later than 1:00 p.m. (Cleveland Boston time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Loans. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and ss.ss.10 or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Commitment Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Commitment Percentage.

Appears in 1 contract

Samples: Credit Agreement (Liberty Property Limited Partnership)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Term Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.2. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Term Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date, or on the Effective Date with respect to any Term Loans, the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Term Loan Agreement (Carter Validus Mission Critical REIT, Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit the Term Loans, each of the LendersTerm Loan Banks, as applicable, will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such LenderBank’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.2. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans Term Loans, made available to the Agent by the Lenders, as applicableTerm Loan Banks, by crediting such amount to the account of the Borrower maintained at the Agent’s Head OfficeOffice or by transferring such amount to an account designated by Borrower. The failure or refusal of any Lender Term Loan Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Term Loan Bank from its several obligation hereunder to make available to the Agent the amount of such other LenderBank’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject . Agent shall notify each of the Term Loan Banks no later than 2:00 p.m. (Cleveland time) one (1) Business Day prior to the terms and conditions hereof proposed Drawdown Date of such Bank’s Commitment Percentage of the amount of the requested Loans which will be made available by such Bank to provide funds to replace those not advanced by the Lender so failing or refusingAgent on the Drawdown Date.

Appears in 1 contract

Samples: Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust)

Funds for Loans. (a) Not Subject to Section 2.5 and other provisions of this Agreement, not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, LenderS with a Commitment for such Loan will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Loans. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§Section Section 10 and or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent AgENT will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Commitment Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Commitment Percentage.

Appears in 1 contract

Samples: Credit Agreement (Liberty Property Limited Partnership)

Funds for Loans. (a) Not Subject to ss.2.5 and other provisions of this Agreement, not later than 1:00 p.m. 11:00 a.m. (Cleveland Boston time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Loans. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and ss.ss.10 or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Commitment Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Commitment Percentage.

Appears in 1 contract

Samples: Revolving Credit Agreement (Amerivest Properties Inc)

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Funds for Loans. (a) Not Subject to ss.2.5 and other provisions of this Agreement, not later than 1:00 p.m. (Cleveland Boston time) on the proposed Drawdown Borrowing Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s 's Head Office, in immediately available fundsfunds in the applicable Currency, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Loans which Loans. The Agent may be disbursed pursuant provide different funding instructions for the Lenders to §2.1follow with respect to each Type of Loan. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and ss.ss.10 or 11 (whichever is applicable) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Borrowing Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Loans, including Loans but shall not obligate any additional Revolving Credit other Lender or Agent to fund more than its Commitment Percentage of the requested Loans that may be requested subject or to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingincrease its Commitment Percentage.

Appears in 1 contract

Samples: Credit Agreement (Liberty Property Limited Partnership)

Funds for Loans. (a1) Not later than 1:00 p.m. 11:00 a.m. (Cleveland Boston time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Banks will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §Section 2.1. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§Section 10 and Section 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Banks by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head Office. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Bank's Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing, provided that the Borrower may by notice received by the Agent no later than the Drawdown Date refuse to accept any Loan which is not fully funded in accordance with the Borrower's Loan Request subject to the terms of Section 2.5. In the event of any such failure or refusal, the Banks not so failing or refusing shall be entitled to a priority secured position as against the Bank or Banks so failing or refusing for such Loans as provided in Section 12.6.

Appears in 1 contract

Samples: Master Revolving Credit Agreement (Ramco Gershenson Properties Trust)

Funds for Loans. (a) Not later than 1:00 p.m. Noon (Cleveland Eastern time) on the proposed Drawdown Date of any Revolving Credit Loans, if such Loan is approved by the Agent, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, therein to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders by crediting such amount to the account of the Borrower maintained at the Agent’s Head OfficeOffice or wiring such funds in accordance with Borrower’s written instructions. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing. In the event of any such failure or refusal, the Lenders not so failing or refusing shall be entitled to a priority secured position as against the Lender or Lenders so failing or refusing to make available to the Borrower the amount of its or their Commitment Percentage for such Loans as provided in §12.5.

Appears in 1 contract

Samples: Credit Agreement (Hertz Group Realty Trust, Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Term Loans, each of the LendersTerm Loan Banks, as applicable, will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Section 2.2. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§Section 10 and Section 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans Term Loans, made available to the Agent by the Lenders, as applicableTerm Loan Banks, by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head OfficeOffice or by transferring such amount to an account designated by Borrower. The failure or refusal of any Lender Term Loan Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Term Loan Bank from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Bank's Commitment Percentage of any requested Loans. In the event of any such failure or refusal, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those Banks not advanced by the Lender so failing or refusingrefusing shall be entitled to a priority position as against the Bank or Banks so failing or refusing for such Loans as provided in Section 12.5.

Appears in 1 contract

Samples: Term Loan Agreement (Ramco Gershenson Properties Trust)

Funds for Loans. (a) Not later than 1:00 12:00 p.m. (Cleveland New York City time) on the proposed Drawdown Date of any Revolving Credit Term Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Term Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Term Loans made available to the Agent by the Lenders, as applicable, as instructed by crediting such amount to Borrower not later than 1:00 p.m. (New York City time) on the account proposed Drawdown Date of the Borrower maintained at the Agent’s Head Officeany Term Loans. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Term Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Term Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Term Loan Agreement (Mid America Apartment Communities Inc)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §11 (and in connection with the making of the initial Loan unless a Letter of Credit has already been issued, §10 and 11 10) and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Credit Agreement (Monogram Residential Trust, Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, applicable Lenders will make available to the Administrative Agent, at the Administrative Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1Section 2.1 or 2.7. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§Sections 10 and 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Administrative Agent will make available to the Borrower Borrowers the aggregate amount of such Revolving Credit Loans made available to the Administrative Agent by the Lenders, as applicable, applicable Lenders by crediting such amount to the account of the Borrower Borrowers maintained at the Administrative Agent’s Head Office. The failure or refusal of any Lender to make available to the Administrative Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Administrative Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Griffin-American Healthcare REIT III, Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland Atlanta time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Banks will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such LenderBank’s Commitment Percentage of the amount of the requested Revolving Credit Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Banks by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other LenderBank’s Commitment Percentage of any requested Revolving Credit Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing.

Appears in 1 contract

Samples: Credit Agreement (Gramercy Capital Corp)

Funds for Loans. (av) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit LoansLoan, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Term Loan Agreement (Condor Hospitality Trust, Inc.)

Funds for Loans. (a) Not later than 1:00 2:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, as instructed by crediting such amount to Borrower not later than 3:00 p.m. on the account proposed Drawdown Date of the Borrower maintained at the Agent’s Head Officeany Revolving Credit Loans. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingLoans.

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

Funds for Loans. (a) Not later than 1:00 2:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, as instructed by crediting such amount to Borrower not later than 3:00 p.m. on the account proposed Drawdown Date of the Borrower maintained at the Agent’s Head Officeany Revolving Credit Loans. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusingLoans.

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

Funds for Loans. (a) Not later than 1:00 2:00 p.m. (Cleveland Boston time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Banks will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §Section 2.1. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§Section 10 and Section 11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Banks by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head Office. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Bank's Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing, provided that the Borrower may by notice received by the Agent no later than the Drawdown Date refuse to accept any Loan which is not fully funded in accordance with the Borrower's Loan Request subject to the terms of Section 2.6. In the event of any such failure or refusal, the Banks not so failing or refusing shall be entitled to a priority secured position as against the Bank or Banks so failing or refusing for such Loans as provided in Section 12.4.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Wellsford Real Properties Inc)

Funds for Loans. (a) Not later than 1:00 12:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Term Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Term Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Term Loans made available to the Agent by the Lenders, as applicable, as instructed by crediting such amount to Borrower not later than 1:00 p.m. (Cleveland time) on the account proposed Drawdown Date of the Borrower maintained at the Agent’s Head Officeany Term Loans. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Term Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Term Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Term Loan Agreement (Mid America Apartment Communities Inc)

Funds for Loans. (a) Not later than 1:00 p.m. noon (Cleveland Eastern time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, therein to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head OfficeOffice or wiring such funds in accordance with Borrower's written instructions. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s 's Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Credit Agreement (Plymouth Industrial REIT Inc.)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.12.1 or §2.2. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Lenders by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Credit Agreement (Tier Reit Inc)

Funds for Loans. (a) Not later than 1:00 p.m. 11:00 a.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, Banks will make available to the Agent, at the Agent’s 's Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender Bank of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, Banks by crediting such amount to the account of the Borrower maintained at the Agent’s 's Head Office. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place - 21 - on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Bank's Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender Bank so failing or refusing, provided that the Borrower may by notice received by the Agent no later than the Drawdown Date refuse to accept any Loan which is not fully funded in accordance with the Borrower's Loan Request subject to the terms of §2.5. In the event of any such failure or refusal, the Banks not so failing or refusing shall be entitled to a priority secured position as against the Bank or Banks so failing or refusing for such Loans as provided in §12.5.

Appears in 1 contract

Samples: Revolving Credit Agreement (Foundation Capital Resources Inc)

Funds for Loans. (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans, each of the Lenders, will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1. Upon receipt from each such Lender of such amount, and upon receipt of the documents required by §§10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans made available to the Agent by the Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Loans shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust II, Inc.)

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