Attention for the Financing shall be calculated based on the true level of days in the for every single Attention Months and you may a great 360-date seasons
(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Note) of Borrower in the form of Display An excellent 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; given 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 Means of Credit. (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 Find regarding Borrowing from the bank), 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 payday loans Haleburg 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. then 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) On to make per Loan Advance hereunder, the fresh House Plan can be instantly upgraded to provide each one of the newest Possessions on the Investment Schedule linked to the Observe from Borrowing.
Section 2.03 Payment and you may Prepayment away from Principal. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.
(b) By notifying Financial written down one or more (1) Business day ahead of time, Debtor would be permitted, during the their alternative, in order to prepay, at the mercy of Section dos.12, the loan entirely or even in area anytime, together with accrued and you will unpaid desire on the number therefore prepaid service.
Regardless of anything to the contrary, within the term on the Contract, the financial institution ounts on account of accumulated and you will delinquent focus that perform if not getting as a result of the Debtor according to the netting conditions established inside the Point 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 Notice Statement 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.