Common use of Procedure for Making Advances Clause in Contracts

Procedure for Making Advances. Borrower shall provide Lender an irrevocable Notice of Borrowing at least 15 business days prior to the desired Funding Date for any Advance, including therewith all vendor invoices, bills of sale, receipts, agreements, proof of payment, and other documents to evidence the ownership of such equipment by Borrower for which Borrower is requesting an Advance hereunder provided such financed equipment is delivered to Borrower within 120 days of the Funding Date for such equipment. Lender shall only be required to make Advances hereunder based upon written requests which comply with the terms and exhibits of this Loan Agreement (as the same may be amended from time to time), and which are submitted and signed by a Responsible Officer. Borrower shall execute and deliver to Lender a Note and such other documents and instruments as Lender may reasonably require for each Advance made. With respect to the initial Advance hereunder, Lender agrees to finance equipment delivered to Borrower since January 1, 2008, provided the Notice of Borrowing for such Advance is delivered to Lender within 30 days from the date of this Agreement.

Procedure for Making Advances. Borrower shall provide Lender an irrevocable Notice of Borrowing at least 15 business days prior to the desired Funding Date for any AdvanceAdvances, including therewith all vendor invoices, bills of sale, receipts, agreements, proof of payment, and other documents to evidence the ownership of such equipment by Borrower for which Borrower is requesting an Advance hereunder provided such financed equipment is delivered to Borrower within 120 days of the Funding Date for such equipment. Lender shall only be required to make Advances hereunder based upon written requests which comply with the terms and exhibits of this Loan Agreement (as the same may be amended from time to time), and which are submitted and signed by a Responsible Officer. Borrower shall execute and deliver to Lender a Note and such other documents and instruments as Lender may reasonably require for each Advance made. With respect to the initial Advance hereunder, Lender agrees to finance equipment delivered to Borrower since January 1, 20082010, provided the Notice of Borrowing for such Advance is delivered to Lender within 30 days from the date of this Agreement.