Procedures for Borrowings. Each Borrowing shall be made on not less than three (3) Business Days’ notice from the Borrower to the Agent. Each such notice shall specify (A) the aggregate amount of such Borrowing, which shall be in an amount equal to or greater than $250,000 and (B) the date of such Borrowing. Any such notice received by the Agent after 11:00 a.m. New York City time will be deemed to have been delivered on the following Business Day. On the date of such Borrowing, the applicable Lender shall, upon satisfaction of the applicable conditions set forth in Articles II and III, make available to the Borrower in same day funds, the amount of such Borrowing by payment to the account which the Borrower has designated in writing.
Appears in 2 contracts
Sources: Credit and Security Agreement (GWG Holdings, Inc.), Credit and Security Agreement (GWG Holdings, Inc.)
Procedures for Borrowings. Each Borrowing shall be made on not less than three (3) Business Days’ notice from the Borrower to the Agent. Each such notice shall specify (A) the aggregate amount of such Borrowing, which shall be in an amount equal to or greater than $250,000 and (B) the date of such Borrowing. Any such notice received by the Agent after 11:00 a.m. New York City time will be deemed to have been delivered on the following Business Day. On the date of such Borrowing, the applicable Lender shall, upon satisfaction of the applicable conditions set forth in Articles II and III, make available to the Borrower in same day funds, the amount of such Borrowing by payment to the account which the Borrower has designated in writing.. 27
Appears in 1 contract
Sources: Credit and Security Agreement