Common use of Making the Advance Clause in Contracts

Making the Advance. The execution of this Agreement by Borrower shall constitute Borrower’s irrevocable instructions to Lender to make the Advance on the Closing Date, and such instructions shall be binding on Borrower. Borrower shall indemnify Lender against any loss, cost or expense reasonably incurred by Lender or its Affiliates as a result of any failure by Borrower to borrow such Advance (including, without limitation, as a result of Borrower’s failure to fulfill, on or before the Closing Date, the applicable conditions set forth in Article III) and the liquidation or re-employment of deposits or other funds acquired by Lender to fund the Advance to be made by Lender as part of such borrowing. A certificate of Lender as to the amount of such losses, costs and expenses, submitted to Borrower by Lender and showing in reasonable detail the basis for the calculation thereof, shall be conclusive as to the amount of such losses, costs and expenses, absent manifest error.