Common use of Wet Borrowings Clause in Contracts

Wet Borrowings. (a) Pursuant to the Loan Agreement, the Borrower may from time to time request that certain Borrowings be funded after delivery to the Collateral Agent of the related Assignment, but prior to the delivery to the Collateral Agent of the corresponding Principal Mortgage Documents (individually a "Wet Borrowing"; collectively "Wet Borrowings"). The Borrower and the Administrative Agent acknowledge that Advances in respect of Wet Borrowings are subject to various terms and conditions of the Loan Agreement, including those set forth in Section 2.3(c) to the Loan Agreement.