Common use of Requesting Loans Clause in Contracts

Requesting Loans. Provided that the applicable Borrowing Base Property is part of the Borrowing Base pursuant to Article V., for each Loan for such particular Borrowing Base Property Sub-Facility, the Borrower shall submit a completed Draw Request to the Agent, setting forth the identification of the Borrowing Base Property, the amount of Loan proceeds desired, the Type of Loan desired, the disbursement instructions, the information required for any Hard Cost Advances or Soft Cost Advances, and the applicable conditions precedent in accordance with Article VI., together with such certification and additional information as the Agent may reasonably require, signed by a duly authorized representative of the Borrower. Such Draw Request shall be submitted not less than five (5) Business Days prior to the date on which the requested Loan is to be made. The Agent will transmit a copy of the Draw Request to each Lender no later than five (5) Business Days after delivering the Notice of Satisfaction of Conditions Precedent. Each Draw Request shall be irrevocable once given and binding on the Borrower.