Common use of Procedures for Advances Clause in Contracts

Procedures for Advances. Borrower shall submit to Administrative Agent a request for the advance of proceeds of the Loans (each, an "Advance", and the initial Advance made on the date hereof, the "Initial Advance") no later than 11:00 a.m. (New York time) on the date which is three (3) Business Days, prior to the date the advance is to be made. Administrative Agent, upon its receipt and approval of the request for advance, will so notify all Lenders either by telephone or by facsimile. Not later than 10:00 a.m. (New York time) on the date set for such advance, each Lender shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent's Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent's crediting an account of Borrower designated by Borrower in its request for advance. Each Advance made pursuant to this Agreement shall be in an amount at least equal to $5,000,000 and in integral multiples of $100,000. All Advances made pursuant to this Agreement must be made on or prior to the date which is twelve (12) months from the date hereof. The Initial Advance made pursuant to this Agreement shall be in an amount at least equal to $16,000,000. Amounts advanced hereunder and repaid shall not be readvanced. Notwithstanding any other provisions hereof, the maximum amount available to be advanced hereunder shall be limited to $25,400,000 until such time as Administrative Agent has received reasonable evidence (the "Remediation Evidence") that applicable "Governmental Authorities", as hereinafter defined, are satisfied that the environmental conditions identified in the Phase I Environmental Assessment dated October 12, 2001 prepared by EMG have been remediated such that no further action is required. In the event the Remediation Evidence is not received by the first anniversary of the date hereof (i) $600,000 shall be advanced from the Loan on said date and shall be deposited in an interest-bearing account with Administrative Agent to be held as additional collateral for the Loan until receipt of the Remediation Evidence and (ii) the full amount of the Loan shall be available to be drawn subject to the satisfaction of the conditions of Section 4.01 hereof.

Procedures for Advances. In the case of advances of Ratable Loans hereunder, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date the advance is to be made. In the case of proceeds advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the Loans (eachamount requested and certifying the purpose, an "Advance"in general terms, and the initial Advance made on the date hereoffor which such advance is to be used, the "Initial Advance") no later than 11:00 a.m. (New York time) on the date which is three one (31) Business Days, Banking Day prior to the date the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, upon on the Banking Day of its receipt and approval of the request for advance, will so notify all Lenders the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 10:00 11:00 a.m. (New York time) on the date set for such of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent's ’s Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent's ’s crediting an account of Borrower designated by Borrower in its request for advance. Each Advance made pursuant to this Agreement shall be in an amount at least equal to $5,000,000 and in integral multiples of $100,000. All Advances made pursuant to this Agreement must be made on or prior to the date which is twelve (12) months from the date hereof. The Initial Advance made pursuant to this Agreement shall be in an amount at least equal to $16,000,000. Amounts advanced hereunder and repaid shall not be readvanced. Notwithstanding any other provisions hereof, the maximum amount available to be advanced hereunder shall be limited to $25,400,000 until such time as Administrative Agent has received reasonable evidence (the "Remediation Evidence") that applicable "Governmental Authorities", as hereinafter defined, are satisfied that the environmental conditions identified in the Phase I Environmental Assessment dated October 12, 2001 prepared by EMG have been remediated such that no further action is required. In the event the Remediation Evidence is not received by the first anniversary of the date hereof (i) $600,000 shall be advanced from the Loan on said date and shall be deposited in an interest-bearing account maintained with Administrative Agent to be held as additional collateral for the Loan until receipt of the Remediation Evidence and (ii) the full amount of the Loan shall be available to be drawn subject to the satisfaction of the conditions of Section 4.01 hereofat Administrative Agent’s Office.

Procedures for Advances. Borrower (a) With respect to each funding of an Advance, the Lessee shall submit to Administrative Agent a request for give the advance of proceeds of the Loans (each, an "Advance", Lessor and the initial Advance made on Agent prior written notice pursuant to a Funding Request substantially in the date hereofform of EXHIBIT A (a "FUNDING REQUEST"), the "Initial Advance") no which Funding Request shall be delivered not later than 11:00 a.m. 10:00 a.m., five (New York time) on the date which is three (35) Business Days, Days prior to the date proposed Acquisition Date, specifying: (i) the advance proposed Acquisition Date, (ii) the amount of Advance requested, and (iii) to which Properties such Advance is being allocated and the amount allocated to be madeeach Property. Administrative Agent, upon its receipt The Agent and approval the Lessor shall calculate the amounts of the request for advance, will so notify all Lenders either by telephone or by facsimile. Not later than 10:00 a.m. (New York time) on Lessor Amounts and the date set for such advance, Loans required to fund the requested Advance as it relates to each Lender shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent's Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent's crediting an account of Borrower designated by Borrower in its request for advance. Each Advance made pursuant to this Agreement shall be in an amount at least equal to $5,000,000 and in integral multiples of $100,000. All Advances made pursuant to this Agreement must be made on or prior to the date which is twelve (12) months from the date hereof. The Initial Advance made pursuant to this Agreement shall be in an amount at least equal to $16,000,000. Amounts advanced hereunder and repaid shall not be readvanced. Notwithstanding any other provisions hereof, the maximum amount available to be advanced hereunder shall be limited to $25,400,000 until such time as Administrative Agent has received reasonable evidence (the "Remediation Evidence") that applicable "Governmental Authorities", as hereinafter defined, are satisfied that the environmental conditions identified in the Phase I Environmental Assessment dated October 12, 2001 prepared by EMG have been remediated such that no further action is requiredProperty. In the event that the Remediation Evidence is not received by Lessor and the first anniversary Lenders are unable to obtain a LIBO Rate (Reserve Adjusted) for the period of the Advance requested in any Funding Request, the Lessor and the Lenders shall make available Lessor Amounts and Loans, as the case may be, at the Alternate Base Rate equal to the Advance requested in such Funding Request. Such Lessor Amounts and Loans shall accrue Yield or Interest, as the case may be, at the Alternate Base Rate until the date hereof (i) $600,000 on which the Lessor and the Lenders shall be advanced from the Loan on said date and shall be deposited in an interest-bearing account with Administrative Agent able to be held as additional collateral obtain a LIBO Rate (Reserve Adjusted) for the Loan until receipt of the Remediation Evidence and (ii) the full amount of such Advance, at which time such Lessor Amounts and Loans shall convert and thereafter accrue Yield and Interest, as the Loan case may be, at the LIBO Rate (Reserve Adjusted); PROVIDED, HOWEVER, that no such conversion shall be available to be drawn subject to occur unless the satisfaction of the conditions of Section 4.01 hereofLessee shall have submitted an Interest Period Selection Notice in connection therewith.

Procedures for Advances. Borrower With respect to each funding of an Advance, the Lessee shall submit give the Lessor and the Agent prior written notice not later than 10:00 a.m., San Francisco time, three Business Days prior to Administrative Agent a request for (or, in the advance case of proceeds of the Loans (each, an "Advance", and the initial Advance made on the date hereofLand Interest Acquisition Date, the "Initial Advance") no later than 11:00 a.m. (New York time) on the date which is three day of) the proposed Funding Date, pursuant, in each case, to a Funding Request substantially in the form of Exhibit B (3a "Funding Request"), specifying (i) Business Daysthe proposed Funding Date, prior (ii) the amount and purpose of the Advance requested, (iii) the Type of Advance, (iv) the initial Interest Period for such Advance, (v) the payee of such Advance, and (vi) the allocation of such Advance to the date respective Land Interest Acquisition Cost and Property Improvements Costs of the advance is Property (and pro rata portions of the related remittances from the Participants shall likewise be deemed to be madeso allocated). Administrative Agent, upon its receipt and approval The Agent shall promptly forward a copy of such Funding Request to each Participant. The Lessee shall not request more than one Funding Date during any calendar month. Each Advance (other than an Interest Payment Advance) shall be in a minimum amount of $1,000,000 or in amounts of $100,000 in excess thereof. Subject to the satisfaction or waiver of the request for advance, will so notify all Lenders either by telephone or by facsimile. Not later than 10:00 a.m. (New York time) on the date conditions precedent to such Advance set for such advanceforth in Section 6, each Lender shall, through Participant shall purchase its Applicable Lending Office and subject Participation Interest in such Advance by making available to the conditions Lessor its proportionate share of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent's Office and Advance in immediately available federal funds for the account of Borrower. The amount so received by Administrative Agent shall, subject wire transfer to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent's crediting an account of Borrower designated by Borrower in its request Agent for advance. Each Advance made pursuant to this Agreement shall be in an amount at least equal to $5,000,000 and in integral multiples of $100,000. All Advances made pursuant to this Agreement must be made on or prior deposit to the date which is twelve (12) months from Lessee's demand deposit account with the date hereofAgent not later than 12:00 noon, San Francisco time, on the applicable Funding Date. The Initial Advance made pursuant to this Agreement shall be in an amount at least equal to $16,000,000. Amounts advanced hereunder and repaid shall not be readvanced. Notwithstanding any other provisions hereof, the maximum amount available to be advanced hereunder shall be limited to $25,400,000 until such time as Administrative Agent has received reasonable evidence (the "Remediation Evidence") that applicable "Governmental Authorities", as hereinafter defined, are satisfied that the environmental conditions identified in the Phase I Environmental Assessment dated October 12, 2001 prepared by EMG have been remediated such that no further action is required. In the event the Remediation Evidence is not received by the first anniversary of the date hereof Upon (i) $600,000 shall be advanced from the Loan on said date and shall be deposited in an interest-bearing account with Administrative Agent to be held as additional collateral for the Loan until Lessee's receipt of the Remediation Evidence funds provided by the Participants with respect to an Advance, and (ii) the full amount of the Loan shall be available to be drawn subject to the satisfaction or waiver of the conditions precedent to such Advance set forth in Section 6, the Lessee shall (1) in the case of Section 4.01 hereofan Advance for the acquisition of the Land Interest, pay the acquisition price for such Land Interest to the Existing Owner, and (2) in the case of other Advances, pay or retain as payment or reimbursement of, Property Improvements Costs, in each case from the funds provided by the Participants for such Advance.

Procedures for Advances. Borrower shall submit (a) With respect to Administrative Agent a request for the advance each funding of proceeds of the Loans (each, an "Advance", and the initial Advance made on the date hereof, the "Initial Advance") no Lessee, as Construction Agent, shall give the Lessor prior written notice not later than 11:00 a.m. (10:00 a.m., New York City time) on the date which is three , five (35) Business Days, Days prior to the date the advance is to be made. Administrative Agent, upon its receipt and approval of the request for advanceproposed funding, will so notify all Lenders either by telephone or by facsimile. Not later than 10:00 a.m. (New York time) on the date set for such advance, each Lender shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent's Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent's crediting an account of Borrower designated by Borrower in its request for advance. Each Advance made pursuant to this Agreement shall be a Funding Request substantially in an amount at least equal to $5,000,000 and in integral multiples the form of $100,000. All Advances made pursuant to this Agreement must be made on or prior to Exhibit A (a "Funding Request"), specifying the date which is twelve (12) months from the date hereof. The Initial Advance made pursuant to this Agreement shall be in an amount at least equal to $16,000,000. Amounts advanced hereunder and repaid shall not be readvanced. Notwithstanding any other provisions hereof, the maximum amount available to be advanced hereunder shall be limited to $25,400,000 until such time as Administrative Agent has received reasonable evidence proposed Funding Date (the "Remediation EvidenceFunding Date") that applicable "Governmental Authorities"and the amount of Advance requested. Except as the parties may otherwise agree in writing, as hereinafter defined, are satisfied that the environmental conditions identified in the Phase I Environmental Assessment dated October 12, 2001 prepared by EMG have been remediated such that no further action is required. In the event the Remediation Evidence is not received by the first anniversary of the date hereof (i) $600,000 each Funding Date shall be advanced from occur on the Loan on said date and shall be deposited in an interest-bearing account with Administrative Agent to be held as additional collateral for first (1st) day (or if such day is not a Business Day, then the Loan until receipt next succeeding Business Day thereafter) of the Remediation Evidence a month, and (ii) Advances shall be made solely to provide the full Construction Agent with funds with which to pay or reimburse itself for Land Acquisition Costs, Property Improvements Costs, Capitalized Interest, Transaction Expenses, the Arrangement Fee and all fees paid or payable by the Lessee to the Lessor in connection with the Operative Documents and any amounts paid or payable by Lessee pursuant to Section 31.2 hereof. With respect to the initial Advance, the Lessee may deliver a Funding Request no sooner than five (5) Business Days but no less than two (2) Business Days prior to the proposed Funding Date therefor, which is not required to be the first (1st) day of the month, and in the event that the Lessor is unable to obtain a Eurodollar Rate for the Advance requested in such Funding Request, notwithstanding the definition of "Capitalized Interest" in Appendix 1 hereto, the Lessor shall make available the Advance at the Alternate Base Rate. Such Advance shall bear interest at the Alternate Base Rate until the date on which the Lessor shall be able to obtain a Eurodollar Rate for the amount of such Advance, at which time such Advance shall convert and thereafter accrue interest at the Loan Eurodollar Rate; provided, however, that no such conversion shall be available to be drawn subject to occur unless the satisfaction of the conditions of Section 4.01 hereofLessee shall have submitted a Funding Request in connection therewith.

Procedures for Advances. In the case of advances of Ratable Loans hereunder, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date the advance is to be made. In the case of proceeds advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the Loans (eachamount requested and certifying the purpose, an "Advance"in general terms, and the initial Advance made on the date hereoffor which such advance is to be used, the "Initial Advance") no later than 11:00 a.m. (New York time) on the date which is three one (31) Business Days, Banking Day prior to the date the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, upon on the Banking Day of its receipt and approval of the request for advance, will so notify all Lenders the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 10:00 11:00 a.m. (New York time) on the date set for such of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent's Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent's crediting an account of Borrower designated by Borrower in its request for advance. Each Advance made pursuant to this Agreement shall be in an amount at least equal to $5,000,000 and in integral multiples of $100,000. All Advances made pursuant to this Agreement must be made on or prior to the date which is twelve (12) months from the date hereof. The Initial Advance made pursuant to this Agreement shall be in an amount at least equal to $16,000,000. Amounts advanced hereunder and repaid shall not be readvanced. Notwithstanding any other provisions hereof, the maximum amount available to be advanced hereunder shall be limited to $25,400,000 until such time as Administrative Agent has received reasonable evidence (the "Remediation Evidence") that applicable "Governmental Authorities", as hereinafter defined, are satisfied that the environmental conditions identified in the Phase I Environmental Assessment dated October 12, 2001 prepared by EMG have been remediated such that no further action is required. In the event the Remediation Evidence is not received by the first anniversary of the date hereof (i) $600,000 shall be advanced from the Loan on said date and shall be deposited in an interest-bearing account maintained with Administrative Agent to be held as additional collateral for the Loan until receipt of the Remediation Evidence and (ii) the full amount of the Loan shall be available to be drawn subject to the satisfaction of the conditions of Section 4.01 hereofat Administrative Agent's Office.

Procedures for Advances. Borrower shall submit Advances of Ratable Loans hereunder may be requested by (A) telephone, or (B) a Ratable Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a request Ratable Loan Notice. Each Ratable Loan Notice shall state the amount requested and certifying the purpose, in general terms, for the which such advance of proceeds of the Loans (eachis to be used, an "Advance", and the initial Advance made on the date hereof, the "Initial Advance") no later than 11:00 a.m. 12:00 p.m. (New York timenoon) on the date date, (x) in the case of advances of Base Rate Loans and Daily SOFR Loans, which is the same Banking Day as the advance is to be made, and (y), in the case of advances of Term SOFR Loans, which is three (3) Business Banking Days, prior to the date the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Bxxxxxxx shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, upon on the Banking Day of its receipt and approval of the request for advance, will so notify all Lenders the Banks either by telephone or by facsimileelectronic mail. Not later than 10:00 11:00 a.m. (New York timeor 2:00 p.m. in the case of Base Rate Loans and Daily SOFR Loans) on the date set for such of each advance, each Lender Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent's ’s Office and in immediately available funds for the account of BorrowerBxxxxxxx. The amount so received of the advance requested by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent's ’s crediting an account of Borrower designated by Borrower in its request for advance. Each Advance made pursuant to this Agreement shall be in an amount at least equal to $5,000,000 Bxxxxxxx and in integral multiples of $100,000. All Advances made pursuant to this Agreement must be made on or prior to the date which is twelve (12) months from the date hereof. The Initial Advance made pursuant to this Agreement shall be in an amount at least equal to $16,000,000. Amounts advanced hereunder and repaid shall not be readvanced. Notwithstanding any other provisions hereof, the maximum amount available to be advanced hereunder shall be limited to $25,400,000 until such time as Administrative Agent has received reasonable evidence (the "Remediation Evidence") that applicable "Governmental Authorities", as hereinafter defined, are satisfied that the environmental conditions identified in the Phase I Environmental Assessment dated October 12, 2001 prepared by EMG have been remediated such that no further action is required. In the event the Remediation Evidence is not received by the first anniversary of the date hereof (i) $600,000 shall be advanced from the Loan on said date and shall be deposited in an interest-bearing account maintained with Administrative Agent to be held as additional collateral for the Loan until receipt of the Remediation Evidence and (ii) the full amount of the Loan shall be available to be drawn subject to the satisfaction of the conditions of Section 4.01 hereofat Administrative Agent’s Office.