Common use of Procedure for Advances Clause in Contracts

Procedure for Advances. Agent shall give Owner notice in accordance with Sections 4, 5, 6 and 7 hereof of its irrevocable request for an advance pursuant to this Agreement, specifying a Business Day on which such advance is to be made and the amount of the advance. Not later than 11:00 a.m. New York time on the date for the advance specified in such notice, provided that all conditions to that advance have been satisfied, Owner shall provide to Agent, or to such other party as may be designated by Agent, in immediately available funds, the amount of the advance then requested.

Procedure for Advances. Agent shall give Owner notice in accordance with Sections 4, 5, 6 and 7 hereof of its irrevocable request for an advance pursuant to this Agreement, specifying a Business Day on which such advance is to be made and the amount of the advance. Not later than 11:00 a.m. 2:00 P.M. New York time on the date for the advance specified in such notice, provided that all conditions to that advance have been satisfied, Owner shall provide to Agent, or to such other party as may be designated by Agent, in immediately available funds, the amount of the advance then requested.

Procedure for Advances. Agent shall give Owner notice in accordance with Sections 4, 5, 6 and 7 hereof of its irrevocable request for an advance pursuant to this Agreement, specifying a Business Day on which such advance is to be made and the amount of the advance. Not later than 11:00 a.m. New York time on the date for the advance specified in such notice, provided that all conditions to that advance have been satisfied, Owner shall provide to Agent, or to such other party as may be designated by Agent, in immediately available funds, the amount of the advance then requested.