Group banks serve companies and shoppers throughout the nation. Borrower and Borrowers shall imply Regional Management Corp., Regional Finance Corporation of South Carolina, Regional Finance Company of Georgia, Regional Finance Company of Texas, Regional Finance Company of North Carolina, Regional Finance Corporation of Alabama, Regional Finance Corporation of Tennessee, Regional Finance Company of New Mexico, LLC, Regional Finance Firm of Missouri, LLC, Regional Finance Firm of Oklahoma, LLC, Regional Finance Firm of Georgia, LLC, RMC Monetary Services of Florida, LLC, Regional Finance Company of Louisiana, LLC, Regional Finance Firm of Mississippi, LLC, Regional Finance Firm of Kentucky, LLC and Regional Finance Company of Virginia, LLC.
Instruments shall have the identical meaning as given to that time period within the Code, and shall embrace all negotiable devices, notes secured by mortgages or belief deeds, and any other writing which evidences a right to the payment of money and isn’t itself a safety settlement or lease, and is of a type which is, within the atypical course of enterprise, transferred by delivery with any vital endorsement or project.
(iii) With respect to any request for Base Price Revolving Loans, in lieu of delivering the above-described Discover of Borrowing, a Borrower might give Agent telephonic notice of such request by the required time, with such telephonic discover to be confirmed in writing inside 24 hours of the giving of such discover however Agent shall be entitled to depend on the telephonic discover in making such Revolving Loans, no matter whether or not any such affirmation is received by Agent.
If such quantity will not be made out there to Agent on the Enterprise Day following the Funding Date, Agent will notify Debtors of such failure to fund and, upon demand by Agent, Debtors shall pay such quantity to Agent for Agents account, together with interest thereon for every day elapsed because the date of such Borrowing, at a fee every year equal to the Interest Fee relevant on the time to the Revolving Loans comprising such Borrowing.
However anything to the contrary contained in this Agreement, until so directed by Debtors, or except an Occasion of Default has occurred and is constant, neither Agent nor any Lender shall apply any payments which it receives to any LIBOR Revolving Mortgage, besides (a) on the expiration date of the Interest Period relevant to any such LIBOR Revolving Mortgage, or (b) within the occasion, and only to the extent, that there are no excellent Base Price Revolving Loans.