A "NON-RENEWING COMMITTED LENDER"), AND THE COMMITMENT OF SUCH
NON-RENEWING COMMITTED LENDER IS NOT ASSIGNED TO ANOTHER PERSON IN ACCORDANCE
WITH THE TERMS OF ARTICLE XI PRIOR TO THE THEN CURRENT COMMITMENT TERMINATION
DATE, (I) THE FACILITY AMOUNT SHALL BE REDUCED BY AN AMOUNT EQUAL TO EACH SUCH
NON-RENEWING COMMITTED LENDER'S COMMITMENT ON THE THEN CURRENT COMMITMENT
TERMINATION DATE, AND (II) THE GROUP ADVANCE LIMITS OF THE APPLICABLE LENDER
GROUPS SHALL BE REDUCED BY AN AMOUNT EQUAL TO THE APPLICABLE NON-RENEWING
COMMITTED LENDER'S COMMITMENT ON THE THEN CURRENT COMMITMENT TERMINATION DATE.
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. (NEW YORK CITY
TIME) FIVE (5) BUSINESS DAYS PRIOR TO THE PROPOSED FUNDING DATE, 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.
BY 5:00 P.M. (NEW YORK CITY 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 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 DATE SHALL BE NO EARLIER THAN THREE
(3) BUSINESS DAYS AFTER THE DAY ON WHICH THE ADMINISTRATIVE
26
Agent confirms to the Borrower that the problems have been corrected.
No more
than one Funding Date per calendar week shall be permitted without