Common use of Procedures for Requesting Revolving Advances Clause in Contracts

Procedures for Requesting Revolving Advances. If the Borrowers do not utilize the Loan Manager service, the Borrowers shall request each Revolving Advance so that the request is received by the Lender not later than the Cut-off Time on the third Business Day preceding the Business Day on which an Advance is to be made. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmission, and shall be confirmed in writing by the Borrowers if so requested by the Lender, by (i) an Officer of the Borrowers, or (ii) a Person designated as the Borrowers’ agent by an Officer of the Borrowers in a writing delivered to the Lender, or (iii) a Person whom the Lender reasonably believes to be an Officer of the Borrowers or such a designated agent. The Borrower shall repay all Revolving Advances even if the Lender does not receive such confirmation and even if the Person requesting a Revolving Advance was not in fact authorized to do so. Any request for a Revolving Advance, whether written or telephonic, and whether initiated manually by the Borrowers or automatically through the Borrowers’ utilization of the Lender’s Loan Manager service, shall be deemed to be a representation by the Borrowers that all conditions set forth in Article IV of this Agreement have been satisfied as of the time of the request.

Procedures for Requesting Revolving Advances. If The Borrower shall comply with the Borrowers do not utilize the Loan Manager service, the Borrowers following procedures in requesting Revolving Advances: (a) The Borrower shall request each Revolving Advance so that the request it is received by the Lender Agent not later than the Cut-off Time on the third 1:00 PM (NY Time) at least three (3) Business Day preceding Days in advance of the Business Day on which an the Revolving Advance is to be made. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the LenderAgent, shall be in writing or by telephone or telecopy transmission, and shall be confirmed in writing by the Borrowers Borrower if so requested by the LenderAgent, by (i) an Officer officer of the Borrowers, Borrower; or (ii) a Person designated as the Borrowers’ Borrower’s agent by an Officer officer of the Borrowers Borrower in a writing delivered to the Lender, Agent; or (iii) a Person whom the Lender Agent reasonably believes to be an Officer officer of the Borrowers Borrower or such a designated agent. (b) ▇▇▇▇ ▇▇▇▇▇▇▇ or another officer reasonably acceptable to the Agent shall confirm in writing, substantially in the form of Exhibit F hereto, that each request for a Revolving Advance is accurate, necessary and correct in conformance with the Budget. The Borrower shall repay all Revolving Advances even if the Lender does not receive such confirmation and even if the Person requesting a Revolving Advance was not in fact authorized to do so. . (c) Any request for a Revolving Advance, whether written or telephonic, and whether initiated manually by the Borrowers or automatically through the Borrowers’ utilization of the Lender’s Loan Manager service, shall be deemed to be a representation by the Borrowers Borrower that all the conditions set forth in Article IV of this Agreement Section 4.2 have been satisfied as of the time of the request. (d) Upon fulfillment of the applicable conditions set forth in Article IV, the Lenders shall promptly disburse the proceeds of the requested Revolving Advance in accordance with the Borrower’s instructions.