Requests for Loan Advances Sample Clauses

Requests for Loan Advances. With respect to each Loan, Borrower shall give the Administrative Agent (and the Construction Consultant) a Request for Loan Advance as provided in Section 4.2. The Administrative Agent shall give each Lender notice of any such Request for Loan Advance in accordance with Section 2.8(5). Not later than 12:00 noon New York time on the date specified for each Loan, each Lender shall make available for the account of its Applicable Lending Office to the Administrative Agent as specified by the Administrative Agent, in immediately available funds, such Lender’s Proportionate Share of each Loan to be made pursuant hereto. After the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article 4 and Schedule 4, the Administrative Agent shall make such funds available to Borrower by depositing the same, in immediately available funds, in an account designated by Borrower by the end of business on the applicable advance date, to be applied in accordance with the terms of this Agreement.

Requests for Loan Advances. Not less than five (5) business days prior to the making of an Advance, the Borrower shall submit to the Agent a Disbursement Request in such form as the Agent may require setting forth the total amount of the Advance which is requested. Each Disbursement Request and each receipt of the Advance requested thereby shall constitute a certification by the Borrower that the representations and warranties contained in Article III hereof are true and correct on the date of such Disbursement Request or such receipt, as the case may be.

Requests for Loan Advances. So long as no Default exists, and until such time as DCS may elect to terminate Company’s ability to request future Loan Advances as provided in Sections 25(b) and 31.2 below, Company may, from time to time, one or more times, request DCS to extend credit in the form of Loan Advances, the proceeds of which shall be used by Company: (a) to purchase inventory and equipment for use by Company in its business activities, and/or for lease by Company to third-party Operators; and (b) for such other purposes as DCS may agree to within DCS’ sole discretion. Requests for Loan Advances must be submitted by Company in accordance with procedures established by DCS from time to time, and may be submitted by any officer or person purporting to be an authorized representative of Company. Each request must be submitted under a written form of a Request for Loan Advance in the form attached as Exhibit “B”. COMPANY UNCONDITIONALLY AGREES AND ACKNOWLEDGES THAT DCS HAS NO OBLIGATION WHATSOEVER, UNDER THIS AGREEMENT OR OTHERWISE, TO MAKE LOAN ADVANCES TO COMPANY UNDER ANY CIRCUMSTANCE. DCS’ DECISION TO DO SO SHALL ALWAYS BE SOLELY WITHIN DCS’ SOLE JUDGMENT AND DISCRETION, AND DCS MAY REFUSE TO MAKE LOAN ADVANCES TO COMPANY, AND MAY LIMIT THE PURPOSE OR PURPOSES FOR WHICH THE PROCEEDS OF A LOAN ADVANCE MAY BE USED, AND MAY LIMIT THE AMOUNT OF AGGREGATE LOAN ADVANCES, OR THE AMOUNT OF ANY SINGLE LOAN ADVANCE, FOR ANY OR NO REASON, WITH OR WITHOUT CAUSE. Nothing under this Agreement, or under an existing or future agreement or understanding between the parties, whether in writing or in the form of oral statements, or any conduct or course of dealing on the part of DCS, or on the part of DCS’ officers, employees, agents, or attorneys, may be construed by Company, or by Company’s owners, principals, or management officials, or by any Guarantor, or by any court of law or in arbitration, to in any way obligate or commit DCS to make Loan Advances to Company, or to amend, alter, or in any way modify the discretionary nature of the lending relationship between DCS and Company. Company and each Guarantor recognize that the above provisions are essential, bargained-for, covenants, which may not be waived or modified under any circumstances.

Requests for Loan Advances. All requests for Advances, including, without limitation, the Initial Advance shall be submitted on the form of Request for Advance attached as Schedule B hereto, signed by the Borrower and stating, among other things, the amount of Loan Proceeds requested for each item shown on the Project Budget, the amount previously disbursed for each such item, and the remaining balance of Loan Proceeds. Each application for payment shall be accompanied by (a) certification by the Borrower, the Contractor and the Architect of the amount of all outstanding balances due but unpaid for work in place for the Project, (b) invoices from Contractors and any other supporting documentation, and (c) lien waivers from the Contractor and Major Subcontractors in the sum received by each such Contractor for all of Borrower's preceding draw requests, all to be in form and substance satisfactory to Lender and the Title Company. Borrower shall not submit more than one Request for Advance per calendar month. Each Request for Advance must be received by the Lender on or before a date which is at least five (5) days prior to the date upon which the requested Advance is to be made, excluding the date of receipt by the Lender.

Requests for Loan Advances. Not less than five (5) business days prior to the making of an Advance of a Project, the Borrower shall submit to the Bank a Request for Advance in such form as the Bank may require setting forth the total amount of the Advance which is requested. Each Request for Advance and each receipt of the Advance requested thereby shall constitute a certification by the Borrower that the representations and warranties contained in Article III hereof are true and correct on the date of such Request for Advance or such receipt, as the case may be. The Borrower shall be entitled to only one (1) Advance per Project.