Focus to your Mortgage shall be determined based on the real quantity of days from inside the for each and every Focus Months and an effective 360-big date 12 months
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Note) of Borrower in the form of Exhibit A good hereto dated the Closing Date and payable to Lender. Borrower agrees that Lender is authorized to record on the Note (i) the date and amount of each Loan Advance made by Lender pursuant hereto and (ii) the date and amount of each payment of principal of each Loan Advance, in the books and records of Lender in such manner as is reasonable and customary for Lender, and that a certificate of an officer of Lender, setting forth in reasonable detail the information so recorded, shall constitute prima facie evidence of the accuracy of the information so recorded, absent manifest error; considering that the failure to make any such recording shall not in any way affect the Obligations of Borrower or the rights of Lender hereunder or under the Note.
Section 2.02 Process of Borrowing from the bank. (a) Borrower may borrow under the Facility during the Commitment Period on any Advance Date; provided, that Borrower shall have given Lender irrevocable notice (each, a Observe from Credit), which notice (i) shall be substantially in the form of Exhibit B, (ii) shall be signed by a Responsible Officer of Borrower and be received by Lender prior to 3:00 p.m. (New York time) three (3) Business Days prior to the related Advance Date, and (iii) shall specify (A) the dollar amount of the requested Loan Advance, (B) the value of the Portfolio Excess Spread on Borrower’s books and records; (C) the requested Advance Date and (D) the information required to be included in the Asset Schedule with respect to each such Asset in mutually acceptable electronic form.
(b) If Borrower shall deliver to Lender a Notice of Borrowing that satisfies the requirements of Section 2.02(a), Lender will notify Borrower of its intent to remit the requested Loan Amount one (1) Business Day prior to the requested Advance Date. following subject to the foregoing, on the Advance Date, Lender shall remit or cause to be remitted the amount of the requested Loan Advance in U.S. Dollars and in immediately available funds to the account specified by Borrower.
(c) Through to and work out for each and every Loan Get better hereunder, the newest Advantage Plan should be immediately up-to-date to add each of the latest Property listed on the Asset Schedule connected to the See from Borrowing.
Section 2.03 Fees and you may Prepayment regarding Prominent. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination loans Powell Date.
(b) By alerting Lender written down at least one (1) Business day beforehand, Borrower might be permitted, from the their alternative, so you’re able to prepay, susceptible to Section dos.twelve, the mortgage entirely or in part any moment, and additionally accumulated and you may unpaid desire to the number so prepaid service.
Despite almost anything to the contrary, in the term of the Arrangement, the lender ounts due to accumulated and you can unpaid appeal one perform or even feel because of the Borrower in accordance with the netting conditions established inside Area hereof
Section 2.04 Interest. On each Interest Payment Date, Borrower hereby promises to pay to Lender all accrued and unpaid interest on the Loan, as invoiced by Lender three (3) Business Days prior to the related Interest Payment Date (the Attract Declaration Day); provided that if Lender fails to deliver such statement on the Interest Statement Date, on such Interest Payment Date Borrower shall pay the amount which Borrower calculates as the interest due and upon delivery of the statement, Borrower shall remit to Lender any shortfall, or Lender shall refund to Borrower any excess, in the interest payment paid. Interest shall accrue each day on the unpaid principal amount of the Loan at a rate per annum equal to the Interest Rate.