Common use of Procedures for Advances Clause in Contracts

Procedures for Advances. (a) The Borrower may request an Advance by delivery to the Agent of a Borrower Notice constituting a Funding and Allocation Request in accordance with paragraph (b) of this Section 2.02 and Section 6.03(c). The Borrower Notice shall specify the amount of Advances to be borrowed on the following Funds Allocation Date. (b) Subject to the conditions described in Section 2.01 and Section 3.02, and as more specifically set forth in Section 6.03(c), the Borrower may request an Advance from the Lenders on any Funding Date by delivering a Funding and Allocation Request specifying the amount of the requested Advance to the Agent by 4:00 p.m. two (2) Business Days prior to the applicable Funding Date. Each Funding and Allocation Request pursuant to which an Advance is requested shall specify (i) the aggregate amount of the requested Advance, which shall be in an amount equal to $250,000 or an integral multiple of $1,000 in excess thereof, (ii) the Funding Date on which the Advance is to be made, (iii) the Advance Rate then in effect, (iv) the Net Eligible Receivables Balance, the Borrowing Base and Advances Outstanding (in each case, after giving effect to the requested Advance on such Funding Date, the allocation of funds in the Collection Account being distributed on such Funding Date and the purchase of any additional Eligible Receivables through the day preceding such Borrower Notice) and (v) calculations necessary to determine the Overconcentration Amount after giving effect to such Advances and distributions and the purchase of such Eligible Receivables. Each Funding and Allocation Request including a request for an Advance shall include a representation that all conditions precedent for a funding have been met, including a representation by the Borrower that on the Funds Allocation Date the requested Advance will not exceed the Maximum Available Advance. (c) On the Funding Date for any Advance, the Lenders shall upon satisfaction of the applicable conditions set forth in Sections 2.01 and 2.02 hereof and Article III hereof, make available to the Borrower, no later than 4:00 p.m., in same day funds, the amount of such Advance (net of amounts payable to or for the benefit of the Lenders), by payment into the account which the Borrower has designated in writing.

Procedures for Advances. (a) The Borrower may request an Advance by delivery to the Agent of a Borrower Notice constituting a Funding and Allocation Request in accordance with paragraph (b) of this Section 2.02 and Section 6.03(c). The Borrower Notice shall specify the amount of Advances to be borrowed on the following Funds Allocation Date. (b) Subject to the conditions described in Section 2.01 and Section 3.02, and as more specifically set forth in Section 6.03(c), the Borrower may request an Advance from the Lenders on any Funding Date by delivering a Funding and Allocation Request specifying the amount of the requested Advance to the Agent by 4:00 p.m. two (2) Business Days prior to the applicable Funding Date. Each Funding and Allocation Request pursuant to which an Advance is requested shall specify (i) the aggregate amount of the requested Advance, which shall be in an amount equal to $250,000 or an integral multiple of $1,000 in excess thereof, (ii) the Funding Date on which the Advance is to be made, (iii) the Advance Rate then in effect, (iv) the Net Eligible Receivables Balance, the Borrowing Base and Advances Outstanding (in each case, after giving effect to the requested Advance on such Funding Date, the allocation of funds in the Collection Account Accounts being distributed on such Funding Date and the purchase of any additional Eligible Receivables through the day preceding such Borrower Notice) and (v) calculations necessary to determine the Overconcentration Amount after giving effect to such Advances and distributions and the purchase of such Eligible Receivables. Each Funding and Allocation Request including a request for an Advance shall include a representation that all conditions precedent for a funding have been met, including a representation by the Borrower that on the Funds Allocation Date the requested Advance will not exceed the Maximum Available Advance. (c) On the Funding Date for any Advance, the Lenders shall upon satisfaction of the applicable conditions set forth in Sections 2.01 and 2.02 hereof and Article III hereof, make available to the Borrower, no later than 4:00 p.m., in same day funds, the amount of such Advance (net of amounts payable to or for the benefit of the Lenders), by payment into the account which the Borrower has designated in writing.

Procedures for Advances. (a) The In the case of the making of any Advance or any termination, increase or reduction of the Facility Amount, the Borrower may request an Advance by delivery to shall give the Administrative Agent of a Borrower Notice constituting a Funding and Allocation Request in accordance with paragraph (b) of this Section 2.02 and Section 6.03(c)Notice. The Each Borrower Notice shall specify the amount (subject to Section 2.1 hereof) of Advances to be borrowed on and the following Funds Allocation DateFunding Date (which shall be a Business Day). (b) Subject to the conditions described in Section 2.01 and Section 3.02, and as more specifically set forth in Section 6.03(c)2.1, the Borrower may request an Advance from the Lenders by delivering to the Administrative Agent at certain times the information and documents set forth in this Section 2.2. (c) No later than 11:00 a.m. (New York City time) on any the proposed Funding Date by delivering a Funding and Allocation Request specifying (or, other than in the amount case of the requested Advance to the Agent by 4:00 p.m. two (2) Business Days prior to the applicable Funding Date. Each Funding and Allocation Request pursuant to which an Advance is requested shall specify clause (i) below, such shorter period of time or later date as may be agreed to by the Required Lenders), the Administrative Agent, each Managing Agent, the Document Custodian and, the Collateral Custodian, and the Swingline Lender, as applicable, shall receive or shall have previously received the following: (i) a Funding Request in the form of Exhibit A (including a duly completed Borrowing Base Certificate as of the proposed Funding Date and giving pro forma effect to the Advance requested and the use of proceeds thereof); and (ii) a wire disbursement and authorization form shall be delivered to the Administrative Agent and each Managing Agent. (d) Each Funding Request shall specify the aggregate amount of the requested Advance, which shall be in an amount equal to more than $250,000 or an integral multiple of $1,000 in excess thereof, (ii) the Funding Date on which the Advance is to be made, (iii) the Advance Rate then in effect, (iv) the Net Eligible Receivables Balance, the Borrowing Base and Advances Outstanding (in each case, after giving effect to the requested Advance on such Funding Date, the allocation of funds in the Collection Account being distributed on such Funding Date and the purchase of any additional Eligible Receivables through the day preceding such Borrower Notice) and (v) calculations necessary to determine the Overconcentration Amount after giving effect to such Advances and distributions and the purchase of such Eligible Receivables500,000. Each Funding Request shall be accompanied by (i) a Borrower Notice, depicting the outstanding amount of Advances under this Agreement and Allocation Request including a request for an Advance shall include a representation representing that all conditions precedent for a funding have been met, including a representation by the Borrower that on the Funds Allocation Date the requested Advance will not shall not, on the Funding Date thereof, exceed the Maximum Available Availability on such day, (ii) a Borrowing Base Certificate as of the applicable Funding Date (giving pro forma effect to the Advance requested and the use of proceeds thereof), (iii) an updated Loan List including each Loan that is subject to the requested Advance (if any), (iv) the proposed Funding Date, and (v) wire transfer instructions for the Advance. (ce) On the Funding Date for any Advance, following the Lenders shall upon satisfaction of the applicable conditions set forth in Sections 2.01 and 2.02 hereof this Section 2.2 and Article III hereofIII, make available the Lenders shall deposit to the Borrower, no later than 4:00 p.m., Collection Account in same day funds, in accordance with the wire transfer instructions specified in the Funding Request, an amount equal to such Len▇▇▇’▇ ratable share of the Advance (other than Swingline Advances) then being made. Each wire transfer of an Advance to the Borrower shall be initiated by the applicable Lender no later than 2:00 p.m. (New York City time) on the applicable Funding Date. (f) Unless the Administrative Agent shall have been notified by a Lender prior to the date on which such Lender is scheduled to make its ratable share of the applicable aggregate amount of the requested Advance available to the Borrower pursuant to Section 2.2(e) (which notice shall be effective upon receipt) that such Lender does not intend to make such disbursement, the Administrative Agent may assume that such Lender has made such disbursement when due and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the amount of the requested Advance to be made by such Lender. Any amount of the requested Advance that is not funded by the Lenders by the time required pursuant to Section 2.2(e) shall, at the Administrative Agent’s sole discretion, have the option to be deemed to be a Swingline Advance made by the Swingline Lender in an aggregate principal amount up to but not exceeding the Swingline Commitment that shall be refunded in accordance with Section 2.2(g) below; provided that, the Swingline Lender shall not make a Swingline Advance if the amount of such Swingling Advance plus the Swingline Lender’s pro rata share of Advances Outstanding as of such date plus the aggregate amount of unrefunded Swingling Advances outstanding as of such date exceeds such Swingline Lender’s Commitment. (i) Each Swingline Advance shall be refunded by the Lenders (other than the Swingline Lender, but including the Person acting as Swingline Lender in its capacity as a Lender hereunder) no later than the Business Day following the date of such Swingline Advance (net of amounts payable to or for each such date, a “Swingline Refund Date”). Such refunding shall be made hereunder ratably among the benefit Lender Groups in accordance with their Group Advance Limits and by each Lender ratably in accordance with its Pro-Rata Share and shall thereafter be reflected as Advances of the LendersLenders on the books and records of the Administrative Agent. Each Lender shall fund its respective pro rata share of Advances as required to repay Swingline Advances outstanding to the Swingline Lender no later than 3:00p.m. (New York City time) on the applicable Swingline Refund Date. (ii) The Borrower shall pay to the Swingline Lender, within five (5) days of demand, the amount of such Swingline Advances to the extent amounts received from the Lenders are not sufficient to repay in full the outstanding Swingline Advances requested or required to be refunded. If any portion of any such amount paid to the Swingline Lender shall be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy or otherwise, the loss of the amount so recovered shall be ratably shared among the Lender Groups in accordance with their Group Advance Limits and by each Lender ratably in accordance with its Pro-Rata Share (other than the Swingline Lender, but including the Person acting as Swingline Lender in its capacity as a Lender hereunder). (iii) Each Lender acknowledges and agrees that its obligation to refund Swingline Advances in accordance with the terms of this Section 2.2(g) is absolute and unconditional and shall not be affected by any circumstance whatsoever, including non-satisfaction of the conditions set forth in Article III. Further, each Lender agrees and acknowledges that, if prior to the refunding of any outstanding Swingline Advances pursuant to this Section 2.2(g), by an Insolvency Event relating to a Borrower shall have occurred, each Lender will, on the date the applicable Advance would have been made, purchase an undivided participating interest in the Swingline Advance to be refunded in an amount equal to its ratable share of the aggregate amount of such Swingline Advance. Each Lender will immediately transfer to the Swingline Lender, in immediately available funds, the amount of its participation and upon receipt thereof the Swingline Lender will deliver to such Lender a certificate evidencing such participation dated the date of receipt of such funds and for such amount. Whenever, at any time after the Swingline Lender has received from any Lender such Len▇▇▇’▇ participating interest in a Swingline Advance, the Swingline Lender receives any payment on account thereof, the Swingline Lender will distribute to such Lender its participating interest in such amount (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Len▇▇▇’▇ participating interest was outstanding and funded). (iv) Notwithstanding anything contained in this Agreement to the contrary, the Swingline Lender shall not be obligated to make any Swingline Advance at a time when any other Lender is a Defaulting Lender, unless the Swingline Lender has entered into arrangements (which may include the account which delivery of cash collateral) with the Borrower has designated in writingor such Defaulting Lender which are satisfactory to the Swingline Lender to eliminate the Swingline Lender’s Fronting Exposure (without giving effect to Section 2.16(a)(ii)) with respect to any such Defaulting Lender.

Procedures for Advances. (a) The In the case of the making of any Advance or any termination, increase or reduction of the Facility Amount, the Borrower may request an Advance by delivery to shall give the Administrative Agent of a Borrower Notice constituting a Funding and Allocation Request in accordance with paragraph (b) of this Section 2.02 and Section 6.03(c)Notice. The Each Borrower Notice shall specify the amount (subject to Section 2.1 hereof) of Advances to be borrowed on and the following Funds Allocation DateFunding Date (which shall be a Business Day). (b) Subject to the conditions described in Section 2.01 and Section 3.02, and as more specifically set forth in Section 6.03(c)2.1, the Borrower may request an Advance from the Lenders by delivering to the Administrative Agent at certain times the information and documents set forth in this Section 2.2. (c) No later than 11:00 a.m. (New York City time) on any the proposed Funding Date by delivering a Funding and Allocation Request specifying (or, other than in the amount case of the requested Advance to the Agent by 4:00 p.m. two (2) Business Days prior to the applicable Funding Date. Each Funding and Allocation Request pursuant to which an Advance is requested shall specify clause (i) below, such shorter period of time or later date as may be agreed to by the Required Lenders), the Administrative Agent, each Managing Agent, the Document Custodian, the Collateral Custodian, and the Swingline Lender, as applicable, shall receive or shall have previously received the following: (i) a Funding Request in the form of Exhibit A (including a duly completed Borrowing Base Certificate as of the proposed Funding Date and giving pro forma effect to the Advance requested and the use of proceeds thereof); and (ii) a wire disbursement and authorization form shall be delivered to the Administrative Agent and each Managing Agent. (d) Each Funding Request shall specify the aggregate amount of the requested Advance, which shall be in an amount equal to more than $250,000 or an integral multiple of $1,000 in excess thereof, (ii) the Funding Date on which the Advance is to be made, (iii) the Advance Rate then in effect, (iv) the Net Eligible Receivables Balance, the Borrowing Base and Advances Outstanding (in each case, after giving effect to the requested Advance on such Funding Date, the allocation of funds in the Collection Account being distributed on such Funding Date and the purchase of any additional Eligible Receivables through the day preceding such Borrower Notice) and (v) calculations necessary to determine the Overconcentration Amount after giving effect to such Advances and distributions and the purchase of such Eligible Receivables500,000. Each Funding Request shall be accompanied by (i) a Borrower Notice, depicting the outstanding amount of Advances under this Agreement and Allocation Request including a request for an Advance shall include a representation representing that all conditions precedent for a funding have been met, including a representation by the Borrower that on the Funds Allocation Date the requested Advance will not shall not, on the Funding Date thereof, exceed the Maximum Available Availability on such day, (ii) a Borrowing Base Certificate as of the applicable Funding Date (giving pro forma effect to the Advance requested and the use of proceeds thereof), (iii) an updated Loan List including each Loan that is subject to the requested Advance (if any), (iv) the proposed Funding Date, and (v) wire transfer instructions for the Advance. (ce) On the Funding Date for any Advance, following the Lenders shall upon satisfaction of the applicable conditions set forth in Sections 2.01 and 2.02 hereof this Section 2.2 and Article III hereofIII, make available the Lenders shall deposit to the Borrower, no later than 4:00 p.m., Collection Account in same day funds, in accordance with the wire transfer instructions specified in the Funding Request, an amount equal to such ▇▇▇▇▇▇’s ratable share of the Advance (other than Swingline Advances) then being made. Each wire transfer of an Advance to the Borrower shall be initiated by the applicable Lender no later than 2:00 p.m. (New York City time) on the applicable Funding Date. (f) Unless the Administrative Agent shall have been notified by a Lender prior to the date on which such Lender is scheduled to make its ratable share of the applicable aggregate amount of the requested Advance available to the Borrower pursuant to Section 2.2(e) (which notice shall be effective upon receipt) that such Lender does not intend to make such disbursement, the Administrative Agent may assume that such Lender has made such disbursement when due and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the amount of the requested Advance to be made by such Lender. Any amount of the requested Advance that is not funded by the Lenders by the time required pursuant to Section 2.2(e) shall, at the Administrative Agent’s sole discretion, have the option to be deemed to be a Swingline Advance made by the Swingline Lender in an aggregate principal amount up to but not exceeding the Swingline Commitment that shall be refunded in accordance with Section 2.2(g) below; provided that, the Swingline Lender shall not make a Swingline Advance if the amount of such Swingling Advance plus the Swingline Lender’s pro rata share of Advances Outstanding as of such date plus the aggregate amount of unrefunded Swingling Advances outstanding as of such date exceeds such Swingline Lender’s Commitment . (i) Each Swingline Advance shall be refunded by the Lenders (other than the Swingline Lender, but including the Person acting as Swingline Lender in its capacity as a Lender hereunder) no later than the Business Day following the date of such Swingline Advance (net of amounts payable to or for each such date, a “Swingline Refund Date”). Such refunding shall be made hereunder ratably among the benefit Lender Groups in accordance with their Group Advance Limits and by each Lender ratably in accordance with its Pro-Rata Share and shall thereafter be reflected as Advances of the LendersLenders on the books and records of the Administrative Agent. Each Lender shall fund its respective pro rata share of Advances as required to repay Swingline Advances outstanding to the Swingline Lender no later than 3:00p.m. (New York City time) on the applicable Swingline Refund Date. (ii) The Borrower shall pay to the Swingline Lender, within five (5) days of demand, the amount of such Swingline Advances to the extent amounts received from the Lenders are not sufficient to repay in full the outstanding Swingline Advances requested or required to be refunded. If any portion of any such amount paid to the Swingline Lender shall be recovered by or on behalf of the Borrower from the Swingline Lender in bankruptcy or otherwise, the loss of the amount so recovered shall be ratably shared among the Lender Groups in accordance with their Group Advance Limits and by each Lender ratably in accordance with its Pro-Rata Share (other than the Swingline Lender, but including the Person acting as Swingline Lender in its capacity as a Lender hereunder). (iii) Each Lender acknowledges and agrees that its obligation to refund Swingline Advances in accordance with the terms of this Section 2.2(g) is absolute and unconditional and shall not be affected by any circumstance whatsoever, including non-satisfaction of the conditions set forth in Article III. Further, each Lender agrees and acknowledges that, if prior to the refunding of any outstanding Swingline Advances pursuant to this Section 2.2(g), by an Insolvency Event relating to a Borrower shall have occurred, each Lender will, on the date the applicable Advance would have been made, purchase an undivided participating interest in the Swingline Advance to be refunded in an amount equal to its ratable share of the aggregate amount of such Swingline Advance. Each Lender will immediately transfer to the Swingline Lender, in immediately available funds, the amount of its participation and upon receipt thereof the Swingline Lender will deliver to such Lender a certificate evidencing such participation dated the date of receipt of such funds and for such amount. Whenever, at any time after the Swingline Lender has received from any Lender such ▇▇▇▇▇▇’s participating interest in a Swingline Advance, the Swingline Lender receives any payment on account thereof, the Swingline Lender will distribute to such Lender its participating interest in such amount (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such ▇▇▇▇▇▇’s participating interest was outstanding and funded). (iv) Notwithstanding anything contained in this Agreement to the contrary, the Swingline Lender shall not be obligated to make any Swingline Advance at a time when any other Lender is a Defaulting Lender, unless the Swingline Lender has entered into arrangements (which may include the account which delivery of cash collateral) with the Borrower has designated in writingor such Defaulting Lender which are satisfactory to the Swingline Lender to eliminate the Swingline Lender’s Fronting Exposure (without giving effect to Section 2.16(a)(ii)) with respect to any such Defaulting Lender.

Procedures for Advances. (a) The In the case of the making of the Advances on the Effective Date, the Borrower may request an Advance by delivery to shall give the Administrative Agent of a and each Lender the Borrower Notice. Such Borrower Notice constituting shall specify the aggregate amount (subject to Section 2.1 hereof) of the Advances to be borrowed and the Effective Date (which shall be a Funding and Allocation Request in accordance with paragraph Business Day). (b) [Reserved]. (c) No later than 1:00 p.m. (New York City time) one (1) Business Day prior to the Effective Date, the Administrative Agent and each Lender shall receive or shall have previously received (with a copy to the Collateral Custodian) the Borrower Notice (including, for the avoidance of this Section 2.02 doubt, a duly completed Borrowing Base Certificate as of the Effective Date and Section 6.03(cgiving pro forma effect to the Advances requested and the use of proceeds thereof). . (d) The Borrower Notice shall specify the amount of Advances to be borrowed on the following Funds Allocation Date. (b) Subject to the conditions described in Section 2.01 and Section 3.02, and as more specifically set forth in Section 6.03(c), the Borrower may request an Advance from the Lenders on any Funding Date by delivering a Funding and Allocation Request specifying the amount of the requested Advance to the Agent by 4:00 p.m. two (2) Business Days prior to the applicable Funding Date. Each Funding and Allocation Request pursuant to which an Advance is requested shall specify (i) the aggregate amount of the requested Advance, which Advances. The Borrower Notice shall be in an amount equal to $250,000 or an integral multiple of $1,000 in excess thereof, (iii) the Funding Date on which the Advance is to be made, (iii) the Advance Rate then in effect, (iv) the Net Eligible Receivables Balance, the Borrowing Base and Advances Outstanding (in each case, after giving effect to the requested Advance on such Funding Date, the allocation of funds in the Collection Account being distributed on such Funding Date and the purchase of any additional Eligible Receivables through the day preceding such Borrower Notice) and (v) calculations necessary to determine the Overconcentration Amount after giving effect to such Advances and distributions and the purchase of such Eligible Receivables. Each Funding and Allocation Request including a request for an Advance shall include a representation represent that all conditions precedent for a the funding have been met, including (ii) be accompanied by a representation Borrowing Base Certificate as of the Effective Date (giving pro forma effect to the Advances requested and the use of proceeds thereof), (iii) be accompanied by the Borrower a Loan List for each Loan that on the Funds Allocation Date is subject to the requested Advance will not exceed Advances and the Maximum Available Advancerelated Loan Checklist and electronic loan file, and (iv) include the Effective Date. (ce) On the Funding Effective Date for any Advance, following the Lenders shall upon satisfaction of the applicable conditions set forth in Sections 2.01 and 2.02 hereof this Section 2.2 and Article III hereofIII, make available the Lenders shall deposit to the account designated in writing by the Borrower, no later than 4:00 p.m., in same day funds, the an amount of equal to such Advance (net of amounts payable to or for the benefit ▇▇▇▇▇▇’s ratable share of the Lenders), by payment into the account which Advances being made. Each wire transfer of an Advance to the Borrower has designated in writingshall be initiated by the applicable Lender no later than 4:00 p.m. (New York City time) on the Effective Date.