Procedure for Making Advances. (a) Each Advance shall be made upon Denver Water’s irrevocable notice to the Lender. Each such notice shall be given by delivery to the Lender of a Request for Advance, appropriately completed and signed by a Responsible Officer of Denver Water, in accordance with Section 8.02, at least two (2) Business Days prior to the requested date of the Advance. Each Request for Advance shall specify (i) the requested date of disbursement (which shall be a Business Day), (ii) the principal amount of the Advance (which shall be in a principal amount of at least $1,000,000) and (iii) the account(s) of Denver Water to which the Advance is to be disbursed. (b) Upon satisfaction of the applicable conditions set forth in Section 3.02, the Lender shall make all funds so requested available to Denver Water by 3:00 p.m. on the Business Day specified in the related Request for Advance by wire transfer of such funds for deposit to an account specified by Denver Water in the Request for Advance, in each case in accordance with instructions provided to (and reasonably acceptable to) the Lender. (c) The Lender shall promptly notify Denver Water of the interest rate applicable to any Loan upon determination of such interest rate.
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Sources: Credit Agreement, Credit Agreement