Interest towards the Financing is determined on such basis as the actual amount of days within the per Attract Months and you can an excellent 360-date year

(b) The Loan shall initially be evidenced by a single amended and restated promissory note (the Mention) of Borrower in the form of Exhibit A beneficial hereto dated the Closing Date and payable to Lender. Borrower agrees that Lender is authorized to record on the Note (i) the date and amount of each Loan Advance made by Lender pursuant hereto and (ii) the date and amount of each payment of principal of each Loan Advance, in the books and records of Lender in such manner as is reasonable and customary for Lender, and that a certificate of an officer of Lender, setting forth in reasonable detail the information so recorded, shall constitute prima facie evidence of the accuracy of the information so recorded, absent manifest error; given that the failure to make any such recording shall not in any way affect the Obligations of Borrower or the rights of Lender hereunder or under the Note.

Section 2.02 Procedure of Borrowing from the bank. (a) Borrower may borrow under the Facility during the Commitment Period on any Advance Date; provided, that Borrower shall have given Lender irrevocable notice (each, a See out of Borrowing from the bank), which notice (i) shall be substantially in the form of Exhibit B, (ii) shall be signed by a Responsible Officer of Borrower and be received by Lender prior to 3:00 p.m. (New York time) three (3) Business Days prior to the related Advance Date, and (iii) shall specify (A) the dollar amount of the requested Loan Advance, (B) the value of the Portfolio Excess Spread on Borrower’s books and records; (C) the requested Advance Date and (D) the information required to be included in the Asset Schedule with respect to each such Asset in mutually acceptable electronic form.

(b) If Borrower shall deliver to Lender a Notice of Borrowing that satisfies the requirements of Section 2.02(a), Lender will notify Borrower of its intent to remit the requested Loan Amount one (1) Business Day prior to the requested Advance Date. up coming subject to the foregoing, on the Advance Date, Lender shall remit or cause to be remitted the amount of the requested Loan Advance in U.S. Dollars and in immediately available funds to the account specified by Borrower.

(c) Up on while making per Loan Improve hereunder, the Asset Agenda is going to be automatically updated to include all of new Assets on the House Schedule connected to the Find away from Borrowing from the bank.

Section 2.03 Repayment and you can Prepayment out-of Dominating. (a) Borrower hereby promises to repay the entire outstanding principal amount of the Loan on the Termination Date.

(b) By the alerting Bank in writing one or more (1) Working day in advance, Debtor will likely be permitted, during the their alternative, to prepay, at the mercy of Section 2.several, the mortgage in whole or perhaps in part any moment, and additionally accumulated and you may outstanding notice to your count very prepaid service.

Despite almost anything to the contrary, from inside the name in the Contract, the lending company ounts due to accumulated and you may outstanding desire one to would otherwise be due to the Borrower in accordance with the netting terms established when you look at the Point hereof

Section 2.04 Interest. On each Interest Payment Date, Borrower hereby promises to pay to Lender all accrued and unpaid interest on online payday loans in Langston the Loan, as invoiced by Lender three (3) Business Days prior to the related Interest Payment Date (the Focus Statement Time); provided that if Lender fails to deliver such statement on the Interest Statement Date, on such Interest Payment Date Borrower shall pay the amount which Borrower calculates as the interest due and upon delivery of the statement, Borrower shall remit to Lender any shortfall, or Lender shall refund to Borrower any excess, in the interest payment paid. Interest shall accrue each day on the unpaid principal amount of the Loan at a rate per annum equal to the Interest Rate.