These recordation shall be definitive and binding towards the Team, missing reveal mistake;

(iv) Notice because of the Administrative Representative. Should any Lender decline to provide any increase in its Commitment, the Seller shall have the right (but not the obligation) to (1) seek a Second Warehouse Facility at any time thereafter, (2) sign and close on such Second Warehouse Facility, offered, that no Default or Event of Default has occurred and is continuing hereunder on the date of such signing and closing and (3) draw upon such Second Warehouse Facility at any time and from time to time, provided, that upon the first such draw, the Total Utilization of Commitments is equal to the Commitments of all Lenders and there exists no Default or Event of Default. At the option of the Administrative Agent, if an Obligor under a Pledged Lease is a party to another Lease that is not a Pledged Lease, Seller shall have the right repurchase the applicable Pledged Lease from Intermediate Seller (and Intermediate Seller shall have the corresponding right to repurchase such Pledged Lease from the Company), provided, that no Event of Default shall result from such repurchase. The repurchase price for such Pledged Lease shall be the greater of (a) the Amortized Order Value for such Lease and (b) any amounts necessary to cure any then existing Borrowing Base Deficiency. In connection therewith, Administrative Agent on behalf of the Lenders will promptly release any Lien on such Pledged Lease and the proceeds thereof so repurchased.

Per Bank will look after on its inner information a free account otherwise profile evidencing the fresh new Obligations out-of Organization in order to such as for instance Bank, like the amounts of the brand new Funds produced by they and every repayment and you can prepayment according thereof

(v) Criteria so you can Abilities instant online payday loans Clovis off Improve. As a condition precedent to each such increase, Company shall deliver to the Administrative Agent and each Lender, a certificate of the Secretary or Assistant Secretary of each of Company and the Seller, dated as of the Commitment Increase Effective Date, (i) certifying and attaching (x) the resolutions of Company approving or consenting to such Commitment increase and authorizing the execution, delivery and performance by such Person of the amendment to the Agreement, and (y) all documents evidencing all other necessary corporate action and governmental approvals, if any, with respect to such Commitment increase and such amendment to the Agreement and (ii) certifying that, before and after giving effect to such increase, (x) the representations and warranties of such Company and the Seller are true and correct as of the Commitment Increase Effective Date (unless any such representation or warranty relates to a specific date, in which case, it shall be true and correct in all material respects as of such date) and (y) no Event of Default or Default exists.

dos.dos Pro-rata Shares. The Fund is going to be made by the lending company, concurrently and you can proportionately to their particular Pro-rata Offers, it are know you to zero Bank might be accountable for people standard by any kind of Bank this kind of almost every other Lender’s obligations in order to build that loan expected hereunder neither should any Connection of every Bank be enhanced otherwise decreased down to a standard because of the some other Lender in such most other Lender’s duty and also make financing expected hereunder.

The newest Administrative Representative should alert each Bank and you will Business of the Management Agent’s and you may such as for example Lender’s response to per demand produced hereunder, the level of instance raise (or no) as well as the associated Partnership Raise Productive Date

2.3 Entry to Proceeds. Zero part of the continues of every Mortgage will likely be made use of in whatever way that causes or could potentially cause such Financing or the application of like proceeds so you’re able to break Controls T, Control U or Regulation X of your Panel regarding Governors out-of new Government Reserve System and other control thereof or perhaps to violate brand new Exchange Operate.

(a) Lenders’ Proof of Obligations. provided, that the failure to make any such recordation, or any error in such recordation, shall not affect any Lender’s Commitments or Company’s Obligations in respect of any applicable Loans; and provided then, in the event of any inconsistency between the Register and any Lender’s records, the recordations in the Register shall govern absent manifest error.