The new incapacity regarding Financial, into anyone or higher circumstances, to work out its legal rights hereunder, will maybe not changes or replace the conditions and terms to which which Agreement are subject otherwise limit the best out-of Financial so you can exercise later on
(b) Notice delivered pursuant to Section 2.05(a) may be given by any written or electronic means. Reasonable Percentage Margin Name), any notice given before 5:00 p.m. (New York City time) on a Business Day shall be met, and the related Margin Call satisfied, no later than 5:00 p.m. (New York City time) on the following Business Day; notice given after 5:00 p.m. (New York City time) on a Business Day shall be met, and the related Margin Call satisfied, no later than 5:00 p.m. (New York City time) on the second Business Day following the date of such notice. With respect to all Margin Calls other than Low Percentage Margin Calls, any notice given before a.m. (New York City time) on a Business Day shall be met, and the related Margin Call satisfied, no later than 5:00 p.m. (New York City time) on such Business Day; notice given after a.m. (New York City time) on a Business Day shall be met, and the related Margin Call satisfied, no later than 5:00 p.m. (New York City time) on the following Business Day. The foregoing time requirements for satisfaction of a Margin Call are referred to as the Margin Deadlines.
(c) If the a credit Ft Lack can be found, Financial get retain people fund received from it to which Debtor create otherwise getting called hereunder, and therefore finance (i) may be kept by the Financial against the relevant Credit Foot Deficit or (ii) may be used of the Financial resistant to the Financing. Regardless of the foregoing, Financial keeps the best, within https://paydayloanalabama.com/eagle-point/ its only discernment, making an excellent Margin Contact accordance toward provisions off so it Point dos.05.
Section 2.06 Payment Processes. Borrower absolutely, unconditionally, and irrevocably, shall make, or cause to be made, all payments required to be made by Borrower hereunder. Borrower shall deposit or cause to be deposited all amounts constituting collection, payments and proceeds of Assets (including, without limitation, all fees and proceeds of sale) in the Dedicated Accounts.
Section 2.07 Application of Repayments. (a) On each Interest Payment Date, Lender shall prepare and deliver to Borrower a distribution worksheet detailing the application of amounts received on account of Participation Interests. The application of payments by Lender to the reduction of the Obligations shall, in the absence of manifest error, be binding upon Borrower.
(b) The brand new events admit you to prior to cancellation of CSFB Financing Arrangement, the wide variety into the deposit from the Faithful Account can be used pursuant to the CSFB Mortgage Arrangement, and you may one numbers because of Financial otherwise Debtor hereunder, just like the relevant, will likely be continued financial obligation in spite of the application of numbers into deposit such Devoted Account:
(c) On each Notice Commission Date quantity received due to Contribution Interests bound hereunder is going to be used as follows:
Borrower and you will Lender for every single agree that faltering otherwise delay by the Financial to exercise the liberties hereunder should maybe not limit or waive Lender’s rights significantly less than so it Arrangement or else established by law or at all carry out additional rights getting Debtor
(i) basic, on the fee of all the low-dominant wide variety (along with, instead of restriction, Expenses) aside from accrued and you can outstanding attention owing depending on the Loan;
(ii) 2nd, in the place of restricting the latest rights away from Lender significantly less than Part dos.05, on the percentage of prominent to generally meet one Borrowing Base Insufficiency due according to the Loan;
