Common use of Procedures for Advances Clause in Contracts

Procedures for Advances. In the case of an advance of the Loans hereunder on the Funding Date or any Increased Amount Date, Borrower shall submit to Administrative Agent an irrevocable request for such advance by (A) telephone, or (B) a Ratable Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Ratable Loan Notice. Each Ratable Loan Notice shall state the amount requested and certify the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, (x) in the case of advances of Base Rate Loans, which is the same Banking Day as the advance is to be made, and (y), in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date the advance is to be made; provided, however, that if the Borrower wishes to request a borrowing of LIBOR Loans having an Interest Period other than one, two or three months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Banking Days prior to the requested date of such borrowing, Conversion or Continuation, whereupon the Administrative Agent shall give prompt notice to the Banks of such request and determine whether the requested Interest Period is acceptable to all of them. If Borrower so requests an Interest Period other than one, two or three months in duration, not later than 11:00 a.m., three Banking Days before the requested date of such borrowing, Conversion or Continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Banks. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Base Rate Loans) on the date of each advance, each Bank shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount of the advance requested by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s Office.

Procedures for Advances. In the case Advances of an advance of the Ratable Loans hereunder on the Funding Date or any Increased Amount Date, Borrower shall submit to Administrative Agent an irrevocable request for such advance may be requested by (A) telephone, or (B) a Ratable Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Ratable Loan Notice. Each Ratable Loan Notice shall state the amount requested and certify certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, (x) in the case of advances of Base Rate Loans and LIBOR Daily Floating Rate Loans, which is the same Banking Day as the advance is to be made, and (y), in the case of advances of LIBOR Loans (other than LIBOR Daily Floating Rate Loans), which is three (3) Banking Days, prior to the date the advance is to be made; provided, however, that if the Borrower wishes to request a borrowing of LIBOR Loans having an Interest Period other than oneone (1) day or one (1) , two (2), three (3) or three six (6) months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Banking Days prior to the requested date of such borrowing, Conversion or Continuation, whereupon the Administrative Agent shall give prompt notice to the Banks of such request and determine whether the requested Interest Period is acceptable to all of them. If Borrower so requests an Interest Period other than oneone (1) day or one (1), two (2), three (3) or three six (6) months in duration, not later than 11:00 a.m., three Banking Days before the requested date of such borrowing, Conversion or Continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Banks. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimileelectronic mail. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Base Rate Loans and LIBOR Daily Floating Rate Loans) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount of the advance requested by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s Office.

Procedures for Advances. In the case of an advance of the Loans hereunder on the Funding Date or any Increased Amount Date, Borrower shall submit to Administrative Agent an irrevocable request for such advance by (A) telephone, or (B) a Ratable Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Ratable Loan Notice. Each Ratable Loan Notice shall state the amount requested and certify the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, (x) in the case of advances of Base Rate Loans and Daily SOFR Loans, which is the same Banking Day as the advance is to be made, and (y), in the case of advances of LIBOR LIBORTerm SOFR Loans, which is three (3) Banking Days, prior to the date the advance is to be made; provided, however, that if the Borrower wishes to request a borrowing of LIBOR Loans having an Interest Period other than oneone (1) , two (2) or three (3) months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four (4) Banking Days prior to the requested date of such borrowing, Conversion or Continuation, whereupon the Administrative Agent shall give prompt notice to the Banks of such request and determine whether the requested Interest Period is acceptable to all of them. If Borrower so requests an Interest Period other than oneone (1), two (2) or three (3) months in duration, not later than 11:00 a.m., three (3) Banking Days before the requested date of such borrowing, Conversion or Continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Banks. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimileelectronic mail. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Base Rate Loans and Daily SOFR Loans) on the date of each advance, each Bank shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower▇▇▇▇▇▇▇▇. The amount of the advance requested by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting an account of Borrower designated by Borrower ▇▇▇▇▇▇▇▇ and maintained with Administrative Agent at Administrative Agent’s Office.

Procedures for Advances. In the case (a) With respect to each funding of an advance of Advance, the Loans hereunder on Lessee, as Construction Agent, shall give the Funding Date or any Increased Amount Date, Borrower shall submit to Administrative Agent an irrevocable request for such advance by (A) telephone, or (B) a Ratable Loan Notice; provided that any telephonic Lessor prior written notice must be confirmed immediately by delivery to the Administrative Agent of a Ratable Loan Notice. Each Ratable Loan Notice shall state the amount requested and certify the purpose, in general terms, for which such advance is to be used, no not later than 11:00 a.m. (10:00 a.m., New York City time, five (5) on the date, (x) in the case of advances of Base Rate Loans, which is the same Banking Day as the advance is to be made, and (y), in the case of advances of LIBOR Loans, which is three (3) Banking Days, Business Days prior to the date of the advance proposed funding, pursuant to a Funding Request substantially in the form of Exhibit A (a "Funding Request"), specifying the proposed Funding Date (the "Funding Date") and the amount of Advance requested. Except as the parties may otherwise agree in writing, (i) each Funding Date shall occur on the first (1st) day (or if such day is not a Business Day, then the next succeeding Business Day thereafter) of a month, and (ii) Advances shall be made solely to provide the Construction Agent with funds with which to pay or reimburse itself for Land Acquisition Costs, Property Improvements Costs, Capitalized Interest, Transaction Expenses, the Arrangement Fee and all fees paid or payable by the Lessee to the Lessor in connection with the Operative Documents and any amounts paid or payable by Lessee pursuant to Section 31.2 hereof. With respect to the initial Advance, the Lessee may deliver a Funding Request no sooner than five (5) Business Days but no less than two (2) Business Days prior to the proposed Funding Date therefor, which is not required to be madethe first (1st) day of the month, and in the event that the Lessor is unable to obtain a Eurodollar Rate for the Advance requested in such Funding Request, notwithstanding the definition of "Capitalized Interest" in Appendix 1 hereto, the Lessor shall make available the Advance at the Alternate Base Rate. Such Advance shall bear interest at the Alternate Base Rate until the date on which the Lessor shall be able to obtain a Eurodollar Rate for the amount of such Advance, at which time such Advance shall convert and thereafter accrue interest at the Eurodollar Rate; provided, however, that if no such conversion shall occur unless the Borrower wishes to request Lessee shall have submitted a borrowing Funding Request in connection therewith. (b) All remittances made by the Lessor for the funding of LIBOR Loans having an Interest Period other than one, two or three months in duration as provided in the definition of “Interest Period,” any Advance shall be made on the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Banking Days prior to the requested date of such borrowing, Conversion or Continuation, whereupon the Administrative Agent shall give prompt notice to the Banks of such request and determine whether the requested Interest Period is acceptable to all of them. If Borrower so requests an Interest Period other than one, two or three months in duration, not later than 11:00 a.m., three Banking Days before the requested date of such borrowing, Conversion or Continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Banks. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Base Rate Loans) on the date of each advance, each Bank shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and Funding Date in immediately available federal funds for by wire transfer to the account of Borrower. The amount designated by the Construction Agent, except that a portion of the advance requested by the Borrower initial Advance shall be made (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with instructions to be included in the terms hereofinitial Funding Request) shall, subject by wire transfer directly to the conditions of this Agreement, be made available Seller and/or to Borrower, in immediately available funds, by Administrative Agent’s crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s Officethe Lessee to reimburse the Lessee for Transaction Expenses.

Procedures for Advances. In the case of an advance of the Loans hereunder on the Funding Date or any Increased Amount Date, Borrower shall submit to Administrative Agent an irrevocable request for such advance by (A) telephone, or (B) a Ratable Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Ratable Loan Notice. Each Ratable Loan Notice shall state the amount requested and certify the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, (x) in the case of advances of Base Rate Loans, which is the same Banking Day as the advance is to be made, and (y), in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date the advance is to be made; provided, however, that if the Borrower wishes to request a borrowing of LIBOR Loans having an Interest Period other than oneone (1) , two (2) or three (3) months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four (4) Banking Days prior to the requested date of such borrowing, Conversion or Continuation, whereupon the Administrative Agent shall give prompt notice to the Banks of such request and determine whether the requested Interest Period is acceptable to all of them. If Borrower so requests an Interest Period other than oneone (1), two (2) or three (3) months in duration, not later than 11:00 a.m., three (3) Banking Days before the requested date of such borrowing, Conversion or Continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Banks. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimileelectronic mail. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Base Rate Loans) on the date of each advance, each Bank shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount of the advance requested by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s Office.