Common use of Requests for Draws Clause in Contracts

Requests for Draws. To request a Draw, the Issuer (or the Servicer on behalf of the Issuer) shall notify the Class A-2 Agent (with a copy to the Trustee and the Class A-2 Noteholders) (each such notice, a “Draw Request”) of such request by telephone or electronic messaging system not later than 11:00 a.m. (Boston, Massachusetts time), on the Business Day of the proposed Draw. Each such telephonic or electronic Draw Request shall be irrevocable and shall be confirmed promptly by fax or hand delivery to the Class A-2 Agent (with a copy to the Trustee and the Class A-2 Noteholders) of a written Draw Request in the form of Exhibit B hereto and signed by the Issuer (or the Servicer on behalf of the Issuer). Each such Draw Request shall specify the following information in compliance with Section 2.02 of this Agreement and Section 10.06 of the Indenture: (a) the aggregate amount of the requested Draw; and (b) the date of such Draw, which shall be a Business Day. Promptly following receipt of a Draw Request, on the date of receipt of a Draw Request for a Draw, the Class A-2 Agent shall forward (by fax or electronic messaging system) to each Holder (with a copy to the Trustee) a copy of such Draw Request and of the amount of such Holder’s Advance to be made as part of the requested Draw. Any Draw Request received by the Class A-2 Agent after 11:00 a.m. (Boston, Massachusetts time) on any Business Day or on a day which is not a Business Day shall be deemed to be a Draw Request received at 9:00 a.m. on the next Business Day and to be funded on such next Business Day by the Holders of Class A-2 Notes.

Appears in 1 contract

Sources: Purchase Agreement (NewStar Financial, Inc.)

Requests for Draws. To request a Draw, the Issuer (or the Servicer on behalf of the Issuer) shall notify the Class A-2 Agent (with a copy to the Trustee and the Class A-2 Noteholders) (each such notice, a “Draw Request”) of such request by telephone or electronic messaging system not later than 11:00 10:00 a.m. (Boston, Massachusetts time), on the Business Day of the proposed Draw. Each such telephonic or electronic Draw Request shall be irrevocable and shall be confirmed promptly by fax or hand delivery to the Class A-2 Agent (with a copy to the Trustee and the Class A-2 Noteholders) of a written Draw Request in the form of Exhibit B hereto and signed by the Issuer (or the Servicer on behalf of the Issuer). Each such Draw Request shall specify the following information in compliance with Section 2.02 of this Agreement and Section 10.06 10.07 of the Indenture: (a) the aggregate amount of the requested Draw; and (b) the date of such Draw, which shall be a Business Day. Promptly following receipt of a Draw Request, on the date of receipt of a Draw Request for a Draw, the Class A-2 Agent shall forward (by fax or electronic messaging system) to each Holder (with a copy to the Trustee) a copy of such Draw Request and of the amount of such Holder’s Advance to be made as part of the requested Draw. Any Draw Request received by the Class A-2 Agent after 11:00 10:00 a.m. (Boston, Massachusetts time) on any Business Day or on a day which is not a Business Day shall be deemed to be a Draw Request received at 9:00 a.m. on the next Business Day and to be funded on such next Business Day by the Holders of Class A-2 Notes.

Appears in 1 contract

Sources: Class a 2 Note Purchase Agreement (NewStar Financial, Inc.)

Requests for Draws. To request a Draw, the Issuer (or the Servicer on behalf of the Issuer) shall notify the Class A-2 A-1A VFN Agent (with a copy to the Trustee and the Class A-2 NoteholdersTrustee) (each such notice, a “Draw Request”) of such request by telephone or electronic messaging system not later than 11:00 a.m. (Bostonmail, Massachusetts time), on the Business Day of the proposed Draw. Each such telephonic or electronic Draw Request shall be irrevocable and shall be confirmed promptly by fax facsimile or hand delivery to the Class A-2 Agent (with a copy to the Trustee and the Class A-2 Noteholders) of a written Draw Request in the form of Exhibit B hereto and signed by the Issuer (or the Servicer on behalf of the Issuer)) not later than 1:00 p.m. (New York time) on the date which is two Business Days prior to the proposed Draw. Each such written Draw Request shall be irrevocable and receipt of the Class A-1A VFN Agent shall be confirmed promptly by the Isssuer (or the Servicer on behalf of the Issuer) by telephone. A Draw Request shall be deemed to have been received by the Class A-1A VFN Agent at the time of a successful telephone confirmation of such receipt by the Class A-1A VFN Agent. Each such Draw Request shall specify the following information in compliance with Section 2.02 of this Agreement and Section 10.06 of the Indenture: (a) the aggregate amount of the requested Draw; and (b) the date of such Draw, which shall be a Business Day. Promptly following receipt of a Draw Request, on the date of receipt of a Draw Request for a Draw, the Class A-2 A-1A VFN Agent shall forward (by fax or electronic messaging system) to each Holder (with a copy to the TrusteeTrustee and, upon request, each Noteholder) a copy of such Draw Request and of the amount of such Holder’s Advance to be made as part of the requested Draw. A Draw Request shall be deemed to have been received by a Holder at the time of a successful telephone confirmation by the Class A-1A VFN Agent of such receipt by such Holder. Any Draw Request received by the Class A-2 Agent A-1A VFN Noteholders after 11:00 a.m. 1:00 p.m. (Boston, Massachusetts New York time) on any Business Day day (whether or on a day which is not a Business Day Day) shall be deemed to be a Draw Request received at 9:00 a.m. on the next Business Day and to be funded on such next Business Day by the Holders of Class A-2 NotesA-1A VFN Notes on the third Business Day following the receipt of such Draw Request.

Appears in 1 contract

Sources: Class a 1a VFN Purchase Agreement (Ares Capital Corp)