Common use of Advance Request Form Clause in Contracts

Advance Request Form. Whenever Borrower desires a Formula Revolving Advance, Borrower will notify Bank no later than 12:00 p.m. Eastern time, on the Business Day that the Formula Revolving Advance is to be made. Each such notification shall be made (A) by telephone or in-person followed by written confirmation from Borrower within 24 hours, (B) by electronic mail or facsimile transmission, or (C) by delivering to Bank a Revolving Advance Request Form in substantially the form set forth in the Client Reporting File. Bank is authorized to make Formula Revolving Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such Formula Revolving Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Formula Revolving Advances made under this Section 2.1(a) to Borrower’s deposit account.