In the event that all the applicable conditions precedent established from inside the Post V possess become fulfilled for the otherwise prior to the Improve Time,

Attract into the Mortgage would be determined on the basis of the true level of months during the for every single Interest Several months and you can good 360-time seasons

(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Mention) of Borrower in the form of Exhibit 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; offered that the failure to make any such recording shall not in any way affect the Obligations of Borrower or the rights of Lender hereunder https://paydayloanalabama.com/centreville/ or under the Note.

Section 2.02 Means of Borrowing. (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 Notice out-of Borrowing), which notice (i) shall be substantially in the form of Display 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. after that 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) Up on and come up with each Financing Improve hereunder, the latest Asset Agenda are going to be automatically up-to-date to add each one of new Possessions listed on the Asset Plan linked to the Observe regarding Credit.

Section 2.03 Cost and you may Prepayment off Prominent. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.

(b) By the notifying Lender on paper one (1) Business day ahead of time, Borrower shall be let, during the the solution, so you're able to prepay, at the mercy of Area dos.several, the borrowed funds entirely or even in area any time, including accumulated and you can unpaid interest to the number very prepaid.

Despite almost anything to the contrary, during the title for the Agreement, the lender ounts due to accrued and you will unpaid attract you to definitely would if not become due to the Borrower in accordance with the netting provisions established from inside the Section 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 Appeal Declaration Go out); 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.