Loan Procedures. (a) Loans will be provided under the default loan procedures set forth in Section 13 of the Plan, unless modified under this Appendix B. (b) Loans will be provided under a separate written loan policy. [If this subsection (b) is checked, do not complete the rest of this Appendix B.]
Loan Procedures. 12 2.2.1 Various Types of Loans........................................................................13 2.2.2 Borrowing Procedures..........................................................................13 2.2.3 Conversion and Continuation Procedures........................................................14 2.3
Loan Procedures. (a) Except for Same Day Loans funded under Section 2.2(b), the Company shall give written notice or telephonic notice (followed immediately by written confirmation thereof) to the Agent of each proposed borrowing not later than 10:00 A.M., Detroit time, at least two Business Days prior to the proposed date of such borrowing. Each such notice shall be effective upon receipt by the Agent, shall be irrevocable and shall specify the date and amount of the proposed borrowing. Within one Business Day after receipt of such notice, the Agent shall advise each Lender thereof. Not later than 1:00 P.M., Detroit time, on the date of a proposed borrowing, each Lender shall provide the Agent at the office specified by the Agent with immediately available funds covering such Lender’s Pro Rata Share of such borrowing and, so long as the Agent has not received written notice that the conditions precedent set forth in Section 10 with respect to such borrowing have not been satisfied, the Agent shall pay over the funds received by the Agent to the Company on the requested borrowing date. Each borrowing shall be on a Business Day.
Loan Procedures. The maximum number of days per request may not exceed thirty (30) days. No more than the number of total days in the bank as of July 1 may be advanced in any school year.
Loan Procedures. The Borrower may receive Loans in one or more series or classes hereunder by issuing a Promissory Note to the Lender.
Loan Procedures. Customer may obtain Loans under this Agreement as provided in (a), (b) or (c) below.
Loan Procedures. The Company shall give written notice or telephonic notice (followed immediately by written confirmation thereof) to the Agent of each proposed borrowing not later than 1:00 p.m., Detroit time, at least two Business Days prior to the proposed date of such borrowing. Each such notice shall be effective upon receipt by the Agent, shall be irrevocable, and shall specify the date and amount of borrowing. Within one Business Day of receipt of such notice, the Agent shall advise each Lender thereof. Not later than 4:00 p.m., Detroit time, on the date of a proposed borrowing, each Lender shall provide the Agent at the office specified by the Agent with immediately available funds covering such Lender's Pro Rata Share of such borrowing and, so long as the Agent has not received written notice that the conditions precedent set forth in Section 10 with respect to such borrowing have not been satisfied, the Agent shall pay over the funds received by the Agent to the Company on the requested borrowing date. Each borrowing shall be on a Business Day.
Loan Procedures. Customer may obtain advances under the Loans under this Agreement as provided in (a), (b), (c) or (d) below.
Loan Procedures. (a) Loans will be provided under the default loan procedures set forth in Section 13 of the Plan, unless modified under this Appendix B. (b) Loans will be provided under a separate written loan policy. B-3 LOAN LIMITS. The default loan policy under Section 13.03 of the Plan allows Participants to take a loan provided all outstanding loans do not exceed 50% of the Participant’s vested Account Balance. To override the default loan policy to allow loans up to $10,000, even if greater than 50% of the Participant’s vested Account Balance, check this AA §B-3. A Participant may take a loan equal to the greater of $10,000 or 50% of the Participant's vested Account Balance. [If this AA §B-3 is checked, the Participant may be required to provide adequate security as required under Section 13.06 of the Plan.]
Loan Procedures. The Borrower may request the Lender to make the Loan to the Borrower by the delivery to the Agent and the Lender on the proposed borrowing date of a written notice in the form of Exhibit B (a “Borrowing Request”). Such notice shall specify (i) the Initial Outstanding Loan Balance, (ii) the Initial Component 1 Balance, the Initial Component 2 Balance and the Initial DOE Component Balance and (iii) the date of borrowing. Subject to the satisfaction of the conditions precedent set forth in Sections 2.08 and 2.09 hereof, the Lender shall make the Loan in the amount of the Initial Outstanding Loan Balance to the Borrower in the manner set forth in the Borrowing Request.
