Common use of Manner of Borrowing Clause in Contracts

Manner of Borrowing. The Company shall give the Agent ------------------- telephonic notice of each request for Warehousing Loans not later than 1:00 P.M. (Minneapolis time) on the requested Borrowing Date, and each request for Swingline Loans not later than 3:30 p.m. (Minneapolis time) on the requested Borrowing Date. On the Effective Date, the Company shall be deemed to have requested Warehousing Loans in an amount equal to the outstanding principal balance of all Existing Warehousing Loans, and such Warehousing Loans shall be used to refund such Existing Warehousing Loans. Each request for Warehousing Loans or Swingline Loans shall specify the aggregate amount of Warehousing Loans or Swingline Loans, as the case may be, requested and whether such Loans to be made by each Lender are to be funded as Eurodollar Advances, Balance Funded Rate Advances or Reference Rate Advances; provided, that any portion of a Loan not so designated shall be funded as a Eurodollar Advance. The Company shall, not later than the following Business Day, confirm any such request by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/Conversion. The Agent shall notify each Lender by not later than 2:00 P.M. (Minneapolis time) on the date it receives such request of each request for Warehousing Loans received from the Company, of such Lender's Pro Rata Share of the Warehousing Loans requested and whether such Lender's Warehousing Loans are to be funded as Reference Rate Advances, Eurodollar Advances or Balance Funded Rate Advances. Each Lender shall deposit into the Collateral Account in Immediately Available Funds by not later than 3:00 P.M. (Minneapolis time) on the Borrowing Date the total amount of the Warehousing Loans to be made by such Lender. On the Borrowing Date of requested Swingline Loans, USBNA may deposit into the Collateral Account in Immediately Available Funds by not later than 4:00 p.m. (Minneapolis time) on the requested Borrowing Date the amount of the requested Swingline Loans. Unless the Agent shall have received notice from a Lender prior to 3:00 P.M. (Minneapolis time) on any Borrowing Date that such Lender will not make available to the Agent the Warehousing Loans to be made by such Lender on such date, the Agent may assume that such Lender has made such Warehousing Loan available to the Agent on such date and the Agent in its sole discretion may, in reliance upon such assumption, make available to the Company on such date a corresponding amount on behalf of such Lender. If a Lender shall not have timely given such a notice, and to the extent such Lender shall not have so made available to the Agent the Warehousing Loans to be made by such Lender on such date and the Agent shall have so made available to the Company a corresponding amount on behalf of such Lender, such Lender shall, on demand, pay to the Agent such corresponding amount together with interest thereon, at the Federal Funds Effective Rate, for each day from the date such amount shall have been so made available by the Agent to the Company until the date such amount shall have been repaid to the Agent. If such Lender does not pay such corresponding amount promptly upon the Agent's demand therefor, the Agent shall promptly notify the Company and the Company shall immediately repay such corresponding amount to the Agent together with accrued interest thereon at the applicable rate or rates provided in Section 2.04. Each request for Warehousing Loans or Swingline Loans shall be deemed to be a representation by the Company that (i) no Event of Default or Unmatured Event of Default has occurred or will exist upon the making of the requested Warehousing Loans and (ii) the representations and warranties contained in Section 3 hereof, in Section 5 of the Pledge and Security Agreement, in Section 4 of the Servicing Security Agreement, and in Section 15 of the Guaranty are true and correct with the same force and effect as if made on and as of the date of such request.

Manner of Borrowing. The Company shall give the Agent telephonic ------------------- telephonic notice of each request for Warehousing Loans or Swingline Loans not later than 1:00 P.M. 12:00 noon (Minneapolis time) on the requested Borrowing Date, Date if Warehousing Loans are requested and each request for Swingline Loans not later than 3:30 p.m. (Minneapolis time) on the requested Borrowing DateDate if Swingline Loans are requested. On the Effective Date, the Company shall be deemed to have requested Warehousing Loans in an amount equal to the outstanding principal balance of all Existing Warehousing LoansFirst Bank Advances, and such Warehousing Loans shall be used to refund such Existing Warehousing LoansFirst Bank Advances. Each request for Warehousing Loans or Swingline Loans shall specify the aggregate amount of Warehousing Loans or Swingline Loans, as the case may be, requested and whether such Loans to be made by each Lender Bank are to be funded as Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances; provided, that any portion of a Loan not so designated shall be funded as a Eurodollar Advance. The Company shall, not later than the following Business Day, shall promptly confirm any such request by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/Conversion. The Agent shall notify each Lender Bank by not later than 2:00 P.M. 1:00 p.m. (Minneapolis time) on the date it receives such request of each request for Warehousing Loans received from the Company, of such LenderBank's Pro Rata Share of the Warehousing Loans requested and whether such LenderBank's Warehousing Loans are to be funded as Reference Rate Advances, Eurodollar Advances or Balance Funded Fixed Rate Advances. Each Lender Bank shall deposit into the Collateral Account in Immediately Available Funds by not later than 3:00 2:30 P.M. (Minneapolis time) on the Borrowing Date the total amount of the Warehousing Loans to be made by such LenderBank. On the Borrowing Date of requested Swingline Loans, USBNA First Bank may deposit into the Collateral Account in Immediately Available Funds by not later than 4:00 p.m. (Minneapolis time) on the requested Borrowing Date the amount of the requested Swingline Loans. Unless the Agent shall have received notice from a Lender Bank prior to 3:00 2:30 P.M. (Minneapolis time) on any Borrowing Date that such Lender Bank will not make available to the Agent the Warehousing Loans to be made by such Lender Bank on such date, the Agent may assume that such Lender Bank has made such Warehousing Loan available to the Agent on such date and the Agent in its sole discretion may, in reliance upon such assumption, make available to the Company on such date a corresponding amount on behalf of such LenderBank. If a Lender Bank shall not have timely given such a notice, and to the extent such Lender Bank shall not have so made available to the Agent the Warehousing Loans to be made by such Lender Bank on such date and the Agent shall have so made available to the Company a corresponding amount on behalf of such LenderBank, such Lender Bank shall, on demand, pay to the Agent such corresponding amount together with interest thereon, at the Federal Funds Effective Rate, for each day from the date such amount shall have been so made available by the Agent to the Company until the date such amount shall have been repaid to the Agent. If such Lender Bank does not pay such corresponding amount promptly upon the Agent's demand therefor, the Agent shall promptly notify the Company and the Company shall immediately repay such corresponding amount to the Agent together with accrued interest thereon at the applicable rate or rates provided in Section 2.04. Each request for Warehousing Loans or Swingline Loans shall be deemed to be a representation by the Company that (i) no Event of Default or Unmatured Event of Default has occurred or will exist upon the making of the requested Warehousing Loans and (ii) the representations and warranties contained in Section 3 hereof, in Section 5 of the Pledge and Security Agreement, in Section 4 of the Servicing Security Agreement, and in Section 15 of the Guaranty are true and correct with the same force and effect as if made on and as of the date of such request.

Manner of Borrowing. The Company shall give the Agent ------------------- telephonic notice of each request for Warehousing Working Capital Loans not later than 1:00 P.M. 12:00 noon (Minneapolis time) on the requested applicable Borrowing Date, and each request for Swingline Loans not later than 3:30 p.m. (Minneapolis time) on the requested Borrowing Date. On the Effective Date, the Company shall be deemed to have requested Warehousing Loans in an amount equal to the outstanding principal balance of all Existing Warehousing Loans, and such Warehousing Loans shall be used to refund such Existing Warehousing Loans. Each request for Warehousing Loans or Swingline Loans shall specify specifying the aggregate amount of Warehousing Working Capital Loans or Swingline Loansrequested, as the case may be, requested and whether such the Working Capital Loans to be made by each Lender are to be funded as Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances; provided, that any portion of a -------- Working Capital Loan not so designated shall be funded made as a Eurodollar Reference Rate Advance. The Company shall, not later than the following Business Day, shall promptly confirm any such request by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/Conversion. On the Effective Date, the Company shall be deemed to have requested Working Capital Loans in an amount equal to the outstanding principal balance of all Existing Working Capital Advances. The Agent shall notify each Lender by not later than 2:00 P.M. (Minneapolis time) on the date it receives such request of each request for Warehousing Loans received from the Company, of such Lender's Pro Rata Share of the Warehousing Working Capital Loans requested requested, and whether such Lender's Warehousing Working Capital Loans are to be funded as Fixed Rate Advances or Reference Rate Advances, Eurodollar Advances or Balance Funded Rate Advancesby not later than 1:00 P.M. (Minneapolis time) on the date on which the Agent receives such request from the Company. Each Lender shall deposit into the Collateral Account in Immediately Available Funds by not later than 3:00 2:30 P.M. (Minneapolis time) on the applicable Borrowing Date the total amount of the Warehousing Working Capital Loans to be made by such Lender. On ; provided, however, that with respect to the Borrowing Date of requested Swingline Loans, USBNA may deposit into the Collateral Account in Immediately Available Funds Working Capital Loans to be -------- ------- made by not later than 4:00 p.m. (Minneapolis time) it on the requested Borrowing Date the amount Effective Date, each Lender may offset against such Working Capital Loans all or a portion of the requested Swingline Loansits outstanding Existing Working Capital Advances, if any. Unless the Agent shall have received notice from a Lender prior to 3:00 2:30 P.M. (Minneapolis time) on the date any Borrowing Date Working Capital Loans are to be made that such Lender will not make available to the Agent the Warehousing Working Capital Loans to be made by such Lender on such date, the Agent may assume that such Lender has made such Warehousing Loan Working Capital Loans available to the Agent on such date and the Agent in its sole discretion may, in reliance upon such assumption, make available to the Company on such date a corresponding amount on behalf of such Lender. If a Lender shall not have timely given such a notice, and to the extent such Lender shall not have so made available to the Agent the Warehousing Working Capital Loans to be made by such Lender on such date and the Agent shall have so made available to the Company a corresponding amount on behalf of such Lender, such Lender shall, on demand, pay to the Agent such corresponding amount together with interest thereon, at the Federal Funds Effective Rate, for each day from the date such amount shall have been so made available by the Agent to the Company until the date such amount shall have been repaid to the Agent. If such Lender does not pay such corresponding amount promptly upon the Agent's demand therefor, the Agent shall promptly notify the Company and the Company shall immediately repay such corresponding amount to the Agent together with accrued interest thereon at the applicable rate or rates provided in Section 2.04. Each request for Warehousing Loans or Swingline Loans a Working Capital Loan shall be deemed to be a representation by the Company that (i) no Event of Default or Unmatured Event of Default has occurred or will exist upon the making of the requested Warehousing Loans Working Capital Loan and (ii) the representations and warranties contained in Section 3 hereof, in Section 5 of the Pledge and Security Agreement, in Section 4 of the Servicing Security Agreement, and in Section 15 of the Guaranty are true and correct with the same force and effect as if made on and as of the date of such request.

Manner of Borrowing. The Company Borrower shall give the Administrative Agent ------------------- telephonic notice of each request for Warehousing Loans Working Capital Advances or Working Capital Swing Line Advances not later than 1:00 P.M. 11:00 a.m. (Minneapolis time) on the requested Borrowing applicable Working Capital Advance Date, and each request for Swingline Loans not later than 3:30 p.m. (Minneapolis time) on the requested Borrowing Date. On the Effective Date, the Company shall be deemed to have requested Warehousing Loans in an amount equal to the outstanding principal balance of all Existing Warehousing Loans, and such Warehousing Loans shall be used to refund such Existing Warehousing Loans. Each request for Warehousing Loans or Swingline Loans shall specify specifying the aggregate amount of Warehousing Loans Working Capital Advances requested, the Working Capital Advances or Swingline Loans, as the case may be, requested and whether such Loans Working Capital Swing Line Advances to be made by each Lender Working Capital Lender, whether such Working Capital Advances or Working Capital Swing Line Advances are P&I Advances, T&I Advances, Foreclosure Advances and/or Investment Loan Advances, and the portions of such Working Capital Advances that are to be funded as Floating Eurodollar AdvancesRate Borrowings, Balance Funded Fixed Rate Advances Borrowings or Reference Alternate Base Rate AdvancesBorrowings; provided, that any portion of a Loan Working Capital Advance or Working Capital Swing Line Advance not so designated shall be funded as an Alternate Base Rate Borrowing; and provided, further, that such designation or, in the absence of such designation, the preceding proviso clause, shall be effective only with respect to that portion of the outstanding Working Capital Advances of a Eurodollar AdvanceLender other than First Bank which is not to be funded as a Designated Fixed Rate Advance in accordance with Section 2.05(d). The Company shall, not later than the following Business Day, Borrower shall promptly confirm any such request by delivering to the Administrative Agent a duly completed and executed Confirmation of Borrowing/Paydown/ConversionConfirmation. The Administrative Agent shall notify each Lender shall, by not later than 2:00 P.M. 12:00 noon (Minneapolis time) on the date it receives on which such request of each request for Warehousing Loans Working Capital Advances is received by it from the CompanyBorrower, notify each Working Capital Lender of such request, of such Working Capital Lender's Pro Rata Share of the Warehousing Loans requested Working Capital Advances requested, the applicable Working Capital Advance Date therefor, and whether the portions of such Working Capital Lender's Warehousing Loans Working Capital Advances that are to be funded as Reference Floating Eurodollar Rate AdvancesBorrowings, Eurodollar Advances Fixed Rate Borrowings or Balance Funded Alternate Base Rate AdvancesBorrowings. Each Working Capital Lender shall deposit into the Collateral Account in Immediately Available Funds by not later than 3:00 P.M. p.m. (Minneapolis time) on the Borrowing said Working Capital Advance Date the total amount of the Warehousing Loans Working Capital Advances to be made by such Working Capital Lender. On Unless the Borrowing Date of requested Swingline Loans, USBNA may deposit into the Collateral Account in Immediately Available Funds by not later than 4:00 Administrative Agent shall have received notice from a Working Capital Lender prior to 3:00 p.m. (Minneapolis time) on the requested Borrowing Date the amount of the requested Swingline Loans. Unless the Agent shall have received notice from a Lender prior date any Working Capital Advances are to 3:00 P.M. (Minneapolis time) on any Borrowing Date be made that such Lender will not make available to the Administrative Agent the Warehousing Loans Working Capital Advances to be made by such Lender on such date, the Administrative Agent may assume that such Lender has made such Warehousing Loan Working Capital Advances available to the Administrative Agent on such date and the Administrative Agent in its sole discretion may, in reliance upon such assumption, make available to the Company Borrower on such date a corresponding amount on behalf of such Lender. If a Working Capital Lender shall not have timely given such a notice, and to the extent such Lender shall not have so made available to the Administrative Agent the Warehousing Loans Working Capital Advances to be made by such Lender on such date and the Administrative Agent shall have so made available to the Company Borrower a corresponding amount on behalf of such Lender, such Lender shall, on demand, pay to the Administrative Agent such corresponding amount together with interest thereon, at the Federal Funds Effective Rate, for each day from the date such amount shall have been so made available by the Administrative Agent to the Company Borrower until the date such amount shall have been repaid to the Administrative Agent. If such Working Capital Lender does not pay such corresponding amount promptly upon the Agent's demand therefor, the Administrative Agent shall promptly notify the Company Borrower and the Company Borrower shall immediately repay such corresponding amount to the Administrative Agent together with accrued interest thereon at the applicable rate or rates provided in Section 2.042.05. First Bank shall, not later than 3:00 p.m. (Minneapolis time) on the Working Capital Advance Date on which it makes any Working Capital Swing Line Advance, deposit the amount thereof into the Collateral Account. Each request for Warehousing Loans or Swingline Loans Working Capital Advances shall be deemed to be a representation by the Company Borrower that (i) no Event of Default or Unmatured Event of Default has occurred or will exist upon the making of the requested Warehousing Loans Working Capital Advances and (ii) the representations and warranties contained in Section 3 hereof3, in Section 5 of the Pledge Warehousing and Discretionary Security Agreement and in Section 5 of the Servicing and Working Capital Security Agreement, in Section 4 of the Servicing Security Agreement, and in Section 15 of the Guaranty are true and correct with the same force and effect as if made on and as of the date of such request. Upon the deposit of the Working Capital Advances in the Collateral Account on the applicable Working Capital Advance Date, the Administrative Agent shall transfer the proceeds thereof to the account or accounts designated by the Borrower in its notice to the Administrative Agent.

Manner of Borrowing. The Company NCMC shall give the Agent ------------------- telephonic notice of each request for Warehousing Loans not later than 1:00 P.M. (Minneapolis time) on the requested Borrowing Date, and each request for Swingline Loans not later than 3:30 p.m. (Minneapolis time) on the requested Borrowing Date. On the Effective Date, the Company NCMC shall be deemed to have requested Warehousing Loans in an amount equal to the outstanding principal balance of all Existing Warehousing Loans, and such Warehousing Loans shall be used to refund such Existing Warehousing Loans. Each request for Warehousing Loans or Swingline Loans shall specify the aggregate amount of Warehousing Loans or Swingline Loans, as the case may be, requested and whether such Loans to be made by each Lender are to be funded as Eurodollar Advances, Balance Funded Rate Advances, Prime Rate Advances or Reference Rate Eurodollar Advances; providedPROVIDED, that any portion of a Loan not so designated shall be funded as a Eurodollar Advance. The Company NCMC shall, not later than the following Business Day, confirm any such request by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/Conversion. The Agent shall notify each Lender by not later than 2:00 P.M. (Minneapolis time) on the date it receives such request of each request for Warehousing Loans received from the CompanyNCMC, of such Lender's Pro Rata Share of the Warehousing Loans requested and whether such Lender's Warehousing Loans are to be funded as Reference Balance Funded Rate Advances, Eurodollar Prime Rate Advances or Balance Funded Rate Eurodollar Advances. Each Lender shall deposit into the Collateral Account in Immediately Available Funds by not later than 3:00 P.M. (Minneapolis time) on the Borrowing Date the total amount of the Warehousing Loans to be made by such Lender. On the Borrowing Date of requested Swingline Loans, USBNA may deposit into the Collateral Account in Immediately Available Funds by not later than 4:00 p.m. (Minneapolis time) on the requested Borrowing Date the amount of the requested Swingline Loans. Unless the Agent shall have received notice from a Lender prior to 3:00 P.M. (Minneapolis time) on any Borrowing Date that such Lender will not make available to the Agent the Warehousing Loans to be made by such Lender on such date, the Agent may assume that such Lender has made such Warehousing Loan available to the Agent on such date and the Agent in its sole discretion may, in reliance upon such assumption, make available to the Company NCMC on such suc h date a corresponding amount on behalf of such Lender. If a Lender shall not have timely given such a notice, and to the extent such Lender shall not have so made available to the Agent the Warehousing Loans to be made by such Lender on such date and the Agent shall have so made available to the Company NCMC a corresponding amount on behalf of such Lender, such Lender shall, on demand, pay to the Agent such corresponding amount together with interest thereon, at the Federal Funds Effective Rate, for each day from the date such amount shall have been so made available by the Agent to the Company NCMC until the date such amount shall have been repaid to the Agent. If such Lender does not pay such corresponding amount promptly upon the Agent's demand therefor, the Agent shall promptly notify the Company Borrowers and the Company Borrowers shall immediately repay such corresponding amount to the Agent together with accrued interest thereon at the applicable rate or rates provided in Section 2.04. Each request for Warehousing Loans or Swingline Loans shall be deemed to be a representation by the Company NCMC that (i) no Event of Default or Unmatured Event of Default has occurred or will exist upon the making of the requested Warehousing Loans or Swingline Loans and (ii) the representations and warranties contained in Section 3 hereof, in Section 5 of the Pledge and Security Agreement, in Section 4 of the Servicing Security Agreement, and in Section 15 of the Guaranty are true and correct with the same force and effect as if made on and as of the date of such request.

Manner of Borrowing. The Company shall give the Agent ------------------- telephonic notice of each request for Warehousing Loans not later than 1:00 than1:00 P.M. (Minneapolis time) on the requested Borrowing Date, and each request for Swingline Loans not later than 3:30 p.m. 3:30p.m. (Minneapolis time) on the requested Borrowing Date. On the Effective Date, the Company shall be deemed to have requested Warehousing Loans in an amount equal to the outstanding principal balance of all Existing Warehousing Loans and Existing Working Capital Loans, and such Warehousing Loans shall be used to refund such Existing Warehousing Loans and Existing Working Capital Loans. Each request for Warehousing Loans or Swingline Loans shall specify the aggregate amount of Warehousing Loans or Swingline Loans, as the case may be, requested and whether such Loans to be made by each Lender are to be funded as Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances; provided, that any portion of a Loan not so designated shall be funded as a Eurodollar Advance. The Company shall, not later than the following Business Day, confirm any such request by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/Conversion. The Agent shall notify each Lender by not later than 2:00 P.M. (Minneapolis time) on the date it receives such request of each request for Warehousing Loans received from the Company, of such Lender's Pro Rata Share of the Warehousing Loans requested and whether such Lender's Warehousing Loans are to be funded as Reference Rate Advances, Eurodollar Advances or Balance Funded Fixed Rate Advances. Each Lender shall deposit into the Collateral Account in Immediately Available Funds by not later than 3:00 P.M. (Minneapolis time) on the Borrowing Date the total amount of the Warehousing Loans to be made by such Lender. On the Borrowing Date of requested Swingline Loans, USBNA may deposit into the Collateral Account in Immediately Available Funds by not later than 4:00 p.m. (Minneapolis time) on the requested Borrowing Date the amount of the requested Swingline Loans. Unless the Agent shall have received notice from a Lender prior to 3:00 P.M. (Minneapolis time) on any Borrowing Date that such Lender will not make available to the Agent the Warehousing Loans to be made by such Lender on such date, the Agent may assume that such Lender has made such Warehousing Loan available to the Agent on such date and the Agent in its sole discretion may, in reliance upon such assumption, make available to the Company on such date a corresponding amount on behalf of such Lender. If a Lender shall not have timely given such a notice, and to the extent such Lender shall not have so made available to the Agent the Warehousing Loans to be made by such Lender on such date and the Agent shall have so made available to the Company a corresponding amount on behalf of such Lender, such Lender shall, on demand, pay to the Agent such corresponding amount together with interest thereon, at the Federal Funds Effective Rate, for each day from the date such amount shall have been so made available by the Agent to the Company until the date such amount shall have been repaid to the Agent. If such Lender does not pay such corresponding amount promptly upon the Agent's demand therefor, the Agent shall promptly notify the Company and the Company shall immediately repay such corresponding amount to the Agent together with accrued interest thereon at the applicable rate or rates provided in Section 2.04. Each request for Warehousing Loans or Swingline Loans shall be deemed to be a representation by the Company that (i) no i)no Event of Default or Unmatured Event of Default has occurred or will exist upon the making of the requested Warehousing Loans and (ii) the ii)the representations and warranties contained in Section 3 hereof, in Section 5 Section5 of the Pledge and Security Agreement, in Section 4 ___ of the Servicing Security Agreement, and in Section 15 of the Guaranty are true and correct with the same force and effect as if made on and as of the date of such request.

Manner of Borrowing. The Company shall give the Agent ------------------- telephonic notice of each request for Warehousing Loans not later than 1:00 P.M. (Minneapolis time) on the requested Borrowing Date, and each request for Swingline Loans not later than 3:30 p.m. (Minneapolis time) on the requested Borrowing Date. On the Effective Date, the Company shall be deemed to have requested Warehousing Loans in an amount equal to the outstanding principal balance of all Existing Warehousing LoansAdvances, and such Warehousing Loans shall be used to refund such Existing Warehousing LoansAdvances. Each request for Warehousing Loans or Swingline Loans shall specify the aggregate amount of Warehousing Loans or Swingline Loans, as the case may be, requested and whether such Loans to be made by each Lender are to be funded as Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances; provided, that any portion of a Loan not so designated shall be funded as a Eurodollar Advance. The Company shall, not later than the following Business Day, confirm any such request by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/Conversion. The Agent shall notify each Lender by not later than 2:00 2:30 P.M. (Minneapolis time) on the date it receives such request of each request for Warehousing Loans received from the Company, of such Lender's Pro Rata Share of the Warehousing Loans requested and whether such Lender's Warehousing Loans are to be funded as Reference Rate Advances, Eurodollar Advances or Balance Funded Fixed Rate Advances. Each Lender shall deposit into the Collateral Account in Immediately Available Funds by not later than 3:00 2:30 P.M. (Minneapolis time) on the Borrowing Date the total amount of the Warehousing Loans to be made by such Lender. On the Borrowing Date of requested Swingline Loans, USBNA First Bank may deposit into the Collateral Account in Immediately Available Funds by not later than 4:00 p.m. (Minneapolis time) on the requested Borrowing Date the amount of the requested Swingline Loans. Unless the Agent shall have received notice from a Lender prior to 3:00 P.M. (Minneapolis time) on any Borrowing Date that such Lender will not make available to the Agent the Warehousing Loans to be made by such Lender on such date, the Agent may assume that such Lender has made such Warehousing Loan available to the Agent on such date and the Agent in its sole discretion may, in reliance upon such assumption, make available to the Company on such date a corresponding amount on behalf of such Lender. If a Lender shall not have timely given such a notice, and to the extent such Lender shall not have so made available to the Agent the Warehousing Loans to be made by such Lender on such date and the Agent shall have so made available to the Company a corresponding amount on behalf of such Lender, such Lender shall, on demand, pay to the Agent such corresponding amount together with interest thereon, at the Federal Funds Effective Rate, for each day from the date such amount shall have been so made available by the Agent to the Company until the date such amount shall have been repaid to the Agent. If such Lender does not pay such corresponding amount promptly upon the Agent's demand therefor, the Agent shall promptly notify the Company and the Company shall immediately repay such corresponding amount to the Agent together with accrued interest thereon at the applicable rate or rates provided in Section 2.04. Each request for Warehousing Loans or Swingline Loans shall be deemed to be a representation by the Company that (i) no Event of Default or Unmatured Event of Default has occurred or will exist upon the making of the requested Warehousing Loans and (ii) the representations and warranties contained in Section 3 hereof, in Section 5 of the Pledge and Security Agreement, in Section 4 of the Servicing Security Agreement, and in Section 15 of the Guaranty are true and correct with the same force and effect as if made on and as of the date of such request.