Common use of Additional Conditions Precedent to All Advances Clause in Contracts

Additional Conditions Precedent to All Advances. Lender shall be obligated to make an Advance only if Borrower shall have delivered to Lender a Draw Request for such Advance. Borrower may not submit more than two (2) Draw Requests per each Calendar Month. Lender shall not be required to make the requested Advance before three (3) Business Days after receipt of the completed Draw Request (together with any required inspection report as provided in Section 2.4.3(a) above). Notwithstanding the foregoing, Lender may make Advances, without further authorization or Draw Requests from Borrower, to pay interest prior to delinquency to the extent of the Available Commitment; provided, however, that from and after the occurrence and during the continuation of an Unmatured Event of Default or an Event of Default, such Advances to pay interest may be made in the sole and absolute discretion of Lender.

Additional Conditions Precedent to All Advances. Lender shall be obligated to make an Advance only if Borrower shall have delivered to Lender a Draw Request for such Advance. Borrower may not submit more than two six (26) Draw Requests per each Calendar Month. Lender shall not be required to make the requested Advance before three twenty-four (324) Business Days hours after receipt of the completed Draw Request (together with any required inspection report as provided in Section 2.4.3(a) above)Request. Notwithstanding the foregoing, Lender may make Advances, without further authorization or Draw Requests from Borrower, to pay interest prior to delinquency to the extent of the Available Commitment; provided, however, that from and after the occurrence and during the continuation of an Unmatured Event of Default or an Event of Default, such Advances to pay interest may be made in the sole and absolute discretion of Lender.