Borrowing Procedures and Settlements. (a) Procedure for Borrowing. Each Borrowing shall be made by a request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.
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Sources: Loan and Security Agreement (Microstrategy Inc), Loan and Security Agreement (Microstrategy Inc)
Borrowing Procedures and Settlements. (a) Procedure for Borrowing. Each Borrowing shall be made by a an irrevocable written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the a Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writingwritten request, any Authorized Person may give Lender telephonic notice of such request by the required time. In such circumstances, with Borrowers agree that any such telephonic notice to will be confirmed in writing within 24 hours of the giving of such noticenotice and the failure to provide such written confirmation shall not affect the validity of the request.
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