Common use of Request for Loans Clause in Contracts

Request for Loans. Each Borrower or Portfolio shall give the Bank telephonic or written notice, specifying the amount and date of each Loan requested, no later than 2:00 p.m. (Boston time) on the Business Day on which the Borrower or Portfolio requests the proceeds of such Loan to be made available by the Bank. Upon receipt from the Bank of a Borrowing Notice prepared by the Bank in connection with such Loan request, the Borrower or Portfolio shall execute such Borrowing Notice and return it promptly to the Bank.