Common use of Request for Advances Clause in Contracts

Request for Advances. To request an Advance, Borrower shall notify Lender of such request, not later than 5:00 p.m., New York City time, two (2) Business Days prior to the date of the proposed Advance, by a written Borrowing Request in a form reasonably approved by Lender and signed by Borrower. Each such written Borrowing Request shall specify the following information, (i) the aggregate amount of the requested Advance; (ii) the date of such Advance, which shall be a Business Day; (iii) the interest rate option (i.e., LIBOR or Fixed Rate) selected for such Advance; and (iv) the location and number of Borrower’s account to which funds are to be disbursed. Unless otherwise agreed to by Lender, any Advance made on the Funding Date shall bear interest based on the Fixed Rate.