Procedures for Requesting Revolving Advances. The Borrower shall comply with the following procedures in requesting Revolving Advances:
Procedures for Requesting Revolving Advances. On the Funding Date, the Lender shall make the following Revolving Advances (collectively, the "Funding Date Advances"): (a) an initial Revolving Advance of $4,000,000 to the Borrower, (b) a Revolving Advance of $250,000 to the Lender to pre-pay estimated interest coming due under the Revolving Credit Facility for the first three (3) months of the Revolving Credit Facility (the "Prepaid Interest Advance"), (c) a Revolving Advance of $210,000 to the Lender to pay the fees due to the Lender under Sections 2.5.1 and 2.5.2 hereof, and (d) a Revolving Advance of $150,000.00 to the Lender's counsel to pay for the estimated costs and expenses incurred by the Lender in connection with the negotiation and preparation of this Agreement and the other Financing Agreements. Thereafter, the Lender may, in its discretion, make additional Revolving Advances from time to time at the request of the Borrower, provided that (i) such Revolving Advances shall be made no more frequently than once per month and no later than the fifth Business Day of each calendar month, (ii) such request is made in writing at least ten (10) days prior to the date on which such Revolving Advance is to be funded, and is accompanied by an executed Compliance Certificate, (iii) such request shall be for Revolving Advances to pay for costs and expenses incurred in connection with the installation of the COES Installations in accordance with the Build Out Draw Schedule, and (iv) all borrowings after the Funding Date Advances shall be in multiples of $100,000. There shall not be any recourse to, nor liability of, the Lender on account of any of the following: (x) any delay in the Lender's making of, and/or any decline by the Lender to make, any Revolving Advance, (y) any delay in the proceeds of any such Revolving Advance constituting collected funds, and (z) any delay in the receipt, and/or any loss, of funds which constitute a Revolving Advance, the wire transfer of which was properly initiated by the Lender in accordance with wire instructions provided to the Lender by the Borrower. The Lender may rely on any request for a Revolving Advance which the Lender, in good faith believes to have been made by a person duly authorized to act on behalf of the Borrower and may decline to make any such requested Revolving Advance pending the Lender's being furnished with such documentation concerning that person's authority to act as may be satisfactory to the Lender.
Procedures for Requesting Revolving Advances. Section 2.2(a) of the Loan Agreement shall be amended and restated in its entirety as follows:
Procedures for Requesting Revolving Advances. If the Borrowers do not utilize the Loan Manager service, the Borrowers shall request each Revolving Advance so that the request is received by the Lender not later than the Cut-off Time on the Business Day, as applicable, on which a Floating Rate Advance is to be made or the Cut-off Time on the third Business Day preceding the Business Day on which a LIBOR Advance is to be made. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmission, and shall be confirmed in writing by the Borrowers if so requested by the Lender, by (i) an Officer of the Borrowers, or (ii) a Person designated as the Borrowers’ agent by an Officer of the Borrowers in a writing delivered to the Lender, or (iii) a Person whom the Lender reasonably believes to be an Officer of the Borrowers or such a designated agent, which confirmation shall specify whether the Advance shall be a Floating Rate Advance or a LIBOR Advance and, with respect to any LIBOR Advance, shall specify the principal amount of the LIBOR Advance and the Interest Period applicable thereto. The Borrower shall repay all Revolving Advances even if the Lender does not receive such confirmation and even if the Person requesting a Revolving Advance was not in fact authorized to do so. Any request for a Revolving Advance, whether written or telephonic, and whether initiated manually by the Borrowers or automatically through the Borrowers’ utilization of the Lender’s Loan Manager service, shall be deemed to be a representation by the Borrowers that all conditions set forth in Article IV of this Agreement have been satisfied as of the time of the request.
Procedures for Requesting Revolving Advances. (a) Borrowing Agent on behalf of any Borrower may notify Agent prior to 1:00 p.m. on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Each such borrowing request shall specify if such Revolving Advance constitutes a Green Loan Advance. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation under this Agreement, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation, and such request shall be irrevocable.
Procedures for Requesting Revolving Advances. To make a request for an Advance, the Borrower shall deliver to the Lender and Custodian, not later than [****] prior to the proposed Advance Date (or such later date agreed by the Lender), a request for advance in an amount [****] in the form of Exhibit A hereto (a “Request for Advance”), and [****]. Lender shall be entitled to rely on any Request for Advance signed by the individual signing this Agreement on behalf of Borrower or otherwise designated by Borrower, in writing, as authorized to make requests for Advances. Upon the satisfaction or waiver of each of the conditions precedent set forth in Section 8.2, the Lender shall disburse such Advance to Borrower’s deposit account with Lender in immediately available funds. If Borrower requests that an Advance be deposited into another account of Borrower, Borrower shall deliver complete wire instructions for that account when it submits its Request for Advance, and Borrower shall be responsible for any wire transfer fees imposed by Lender in accordance with its fee schedule governing Borrower’s bank transactions. Any wire requests and/or instructions submitted [****] on the Advance Date may not be deposited until the next Business Day (unless otherwise agreed by the Lender).
Procedures for Requesting Revolving Advances. The Borrower agrees to comply with the following procedures in requesting Revolving Advances under this Section 2.2: (a) The Borrower shall make each request for a Revolving Advance under Section 2.2 to the Agent before 11:00 a.m. (Minneapolis, Minnesota time) of the day of the requested Revolving Advance. Each request for a Revolving Advance may be made in writing or by telephone, specifying the date of the requested Revolving Advance and the amount thereof, and shall be by (i) any officer of the Borrower; or (ii) any person designated as the Borrower's agent by any officer of the Borrower in a writing delivered to the Agent; or (iii) any person reasonably believed by the Agent to be an officer of the Borrower or such a designated agent. (b) Unless the Agent elects to follow the procedure set forth in Section 9.3(d), promptly upon receipt of each request for a Revolving Advance, the Agent shall notify each Lender by telephone or telecopy of the request and subject to fulfillment of the applicable conditions set forth in Article IV, each Lender shall make its Percentage of the requested Revolving Advance available to the Agent in immediately available funds at the Agent's address specified in Section 10.5, not later than 2:00 p.m. (Minneapolis, Minnesota time) on the date of such Revolving Advance; provided that each Lender shall have received funding notice not later than 12:00 noon (Minneapolis, Minnesota time) on such day. (c) Upon fulfillment of the applicable conditions set forth in Article IV, the Agent shall make the proceeds of each Lender's Revolving Advance available to the Borrower by crediting the same to the Borrower's demand deposit account maintained with the Agent unless the Agent and the Borrower shall agree to another manner of disbursement. Upon the Agent's request, the Borrower shall promptly confirm each telephonic request for a Revolving Advance by executing and delivering an appropriate confirmation certificate to the Agent. The Borrower shall be obligated to repay all Revolving Advances under this Section 2.2 notwithstanding the Agent's failure to receive such confirmation and notwithstanding the fact that the person requesting the same was not in fact authorized to do so. Any request for a Revolving Advance under this Section 2.2, whether written or telephonic, shall be deemed to be a representation by the Borrower that the conditions set forth in Section 4.2 have been satisfied as of the time of the request.
Procedures for Requesting Revolving Advances. ..12 Section 2.3
Procedures for Requesting Revolving Advances. (a) Borrowing Agent on behalf of any Borrower may notify Agent prior to 1:00 p.m. on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation under this Agreement, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation, and such request shall be irrevocable.
Procedures for Requesting Revolving Advances. Borrowing Agent on behalf of any Borrower may notify Agent prior to 1:00 p.m. on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Each such borrowing request shall specify if such Revolving Advance constitutes a Green Loan Advance. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation under this Agreement, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation, and such request shall be irrevocable. Notwithstanding the provisions of subsection (a) above, in the event any Borrower desires to obtain a Term SOFR Rate Loan for any Advance (other than a Swing Loan), Borrowing Agent shall give Agent written notice by no later than 1:00 p.m. on the day which is three (3) Business Days prior to the date such Term SOFR Rate Loan is to be borrowed, specifying (i) the date of the proposed borrowing (which shall be a Business Day), (ii) the type of borrowing and the amount of such Advance to be borrowed, which amount shall be in a minimum amount of $1,000,000 and in integral multiples of $500,000 thereafter, (iii) the duration of the first Interest Period therefor, and (iv) whether such Advance shall constitute a Green Loan Advance. Interest Periods for Term SOFR Rate Loans shall be for one, three or six months; provided that, if an Interest Period would end on a day that is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the Interest Period shall end on the next preceding Business Day. At the election of Required Lenders, no Term SOFR Rate Loan shall be made available to any Borrower during the continuance of a Default or an Event of Default. After giving effect to each requested Term SOFR Rate Loan, including those which are converted from a Domestic Rate Loan under Section 2.2(e), there shall not be outstanding more than ten (10) Term SOFR Rate Loans, in the aggregate. Each Interest Period of a Term SOFR Rate Loan shall commence on the date such Term SOFR Rate Loan is made and shall end on such date as Borrowing Agent may elect as set forth in subsection (b)(iii) above, provided that no Interest Period shall end after the last day...
