from that of each other Committed Lender, and the
failure of any Committed Lender to so make such amount available to the Borrower
shall not relieve any other Committed Lender of its obligation hereunder.
Each
Advance to be made hereunder shall be made ratably among the Lender Groups in
accordance with their Group Advance Limits.
SECTION 2.2
PROCEDURES FOR ADVANCES.
(A)
IN THE CASE OF THE MAKING OF ANY ADVANCE, THE REPAYMENT OF ANY
ADVANCE, OR ANY TERMINATION, INCREASE OR REDUCTION OF THE FACILITY AMOUNT AND
PREPAYMENTS OF ADVANCES, THE BORROWER SHALL GIVE THE ADMINISTRATIVE AGENT A
BORROWER NOTICE.
EACH BORROWER NOTICE SHALL SPECIFY THE AMOUNT (SUBJECT TO
SECTION 2.1 HEREOF) OF ADVANCES TO BE BORROWED OR REPAID AND THE FUNDING DATE OR
REPAYMENT DATE (WHICH, IN ALL CASES, SHALL BE A BUSINESS DAY).
(B)
SUBJECT TO THE CONDITIONS DESCRIBED IN SECTION 2.1, THE BORROWER
MAY REQUEST AN ADVANCE FROM THE LENDERS BY DELIVERING TO THE ADMINISTRATIVE
AGENT AT CERTAIN TIMES THE INFORMATION AND DOCUMENTS SET FORTH IN THIS
SECTION 2.2.
(C)
NO LATER THAN 10:00 A.M. (WINSTON-SALEM, NORTH CAROLINA TIME) FIVE
(5) BUSINESS DAYS PRIOR TO THE PROPOSED FUNDING DATE (OR SUCH SHORTER PERIOD OF
TIME OR LATER DATE AS MAY BE AGREED TO BY THE REQUIRED COMMITTED LENDERS), THE
BORROWER SHALL NOTIFY (I) THE COLLATERAL CUSTODIAN BY DELIVERY TO THE COLLATERAL
CUSTODIAN OF WRITTEN NOTICE OF SUCH PROPOSED FUNDING DATE, AND (II) THE
ADMINISTRATIVE AGENT BY DELIVERY TO THE ADMINISTRATIVE AGENT OF A CREDIT REPORT
AND TRANSACTION SUMMARY FOR EACH LOAN THAT IS THE SUBJECT OF THE PROPOSED
ADVANCE SETTING FORTH THE CREDIT UNDERWRITING BY THE ORIGINATOR OF SUCH LOAN,
INCLUDING WITHOUT LIMITATION A DESCRIPTION OF THE OBLIGOR AND THE PROPOSED LOAN
TRANSACTION IN THE FORM OF EXHIBIT M HERETO; PROVIDED THAT THE REQUIREMENTS OF
THIS SECTION 2.2(C) SHALL APPLY ONLY WITH RESPECT TO THE FIRST ADVANCE TO BE
MADE WITH RESPECT TO A REVOLVER LOAN.
BY 5:00 P.M. (WINSTON-SALEM, NORTH
CAROLINA TIME) ON THE NEXT BUSINESS DAY, THE ADMINISTRATIVE AGENT SHALL USE ITS
BEST EFFORTS TO CONFIRM TO THE BORROWER THE RECEIPT OF SUCH ITEMS AND WHETHER IT
HAS REVIEWED SUCH ITEMS AND FOUND THEM TO BE COMPLETE AND IN PROPER FORM.
IF
THE ADMINISTRATIVE AGENT MAKES A DETERMINATION THAT THE ITEMS ARE INCOMPLETE OR
NOT IN PROPER FORM, IT WILL COMMUNICATE SUCH DETERMINATION TO THE BORROWER.
FAILURE BY THE ADMINISTRATIVE AGENT TO RESPOND TO THE BORROWER BY 5:00 P.M.
(WINSTON-SALEM, NORTH CAROLINA TIME) ON THE DAY THE RELATED FUNDING REQUEST IS
DELIVERED BY THE BORROWER SHALL CONSTITUTE AN IMPLIED DETERMINATION THAT THE
ITEMS ARE INCOMPLETE OR NOT IN PROPER FORM.
THE BORROWER WILL TAKE SUCH STEPS
REQUESTED BY THE ADMINISTRATIVE AGENT TO CORRECT THE PROBLEM(S).
IN THE EVENT
OF A DELAY IN THE ACTUAL FUNDING DATE DUE TO THE NEED TO CORRECT ANY SUCH
PROBLEMS, THE FUNDING
36
DATE SHALL BE NO EARLIER THAN TWO (2) BUSINESS DAYS AFTER THE DAY ON WHICH THE
ADMINISTRATIVE AGENT CONFIRMS TO THE BORROWER THAT THE PROBLEMS HAVE BEEN