All Advances shall be disbursed from whichever office or other place [[Organization B:Organization]] may designate from time to time and, together with any and all other Obligations of [[Organization A:Organization]] to [[Organization B:Organization]] or Lenders, shall be charged to [[Organization A:Organization]]' Account on [[Organization B:Organization]]'s books. During the Term, [[Organization A:Organization]]

Full Disbursement of Proceeds. The Mortgage Loan has been closed and, except with respect to, HECM Loans, Homestyle Renovation Mortgage Loans or HomePath Renovation Mortgage Loans, the proceeds of the Mortgage Loan have been fully disbursed and there is no requirement for future advances thereunder, and any and all requirements as to completion of any on site or off site improvement and as to disbursements of any escrow funds therefor have been complied with. With respect to HomeStyle Renovation Mortgage Loans and HomePath Renovation Mortgage Loans, [[Organization C:Organization]] has made all advances and disbursements in accordance with the terms of the Mortgage and/or the terms and conditions of the related

Advance. During the Term of this Agreement, Manager shall make advances to Provider which Manager, in the exercise of its sole discretion, deems necessary for the payment of Provider Expenses and the Management Fee, and Manager shall be repaid such advances, without interest, at such time as there are sufficient funds for repayment.

Disbursement. On the Closing Date, assuming all of the terms and conditions set forth in Section 3.2 have been satisfied by the Company and the Company has executed and delivered to each of the ​ this Agreement and any other related documents in form and substance reasonably satisfactory to the ​, each Purchaser shall disburse to the Company in immediately available funds the Subordinated Note Amount set forth on each Purchaser’s respective signature page hereto in exchange for an electronic securities entitlement through the facilities of DTC in accordance with the Applicable Procedures in the Subordinated Note with a principal amount equal to such Subordinated Note Amount (the “Disbursement”). The Company will deliver to the Paying Agent a global certificate representing the Subordinated Notes (the “Global Note”) registered in the name of Cede & Co., as nominee for DTC.

Form of Advance for the disbursement of each Advance;

Advance Request. ​ shall submit an Advance Request in accordance with [Section 2.17(d)], provided that in no event shall ​ submit an Advance Request more than once in any thirty (30) day period (and, for the avoidance of doubt, each Advance Request shall contain a request for all items requested by ​ for such thirty (30) day period).

Interest Advance. A portion of the Loan specified in the Project Budget (the “Interest Advance”) has been reserved for payments of interest as it accrues and becomes due and payable on the Loan. The Interest Advance shall not be disbursed for any purpose other than the payment of interest on the Loan unless otherwise agreed to by ​ in its sole and absolute discretion. Subject to the provisions of [Section 2.20(b)], ​ shall advance portions of the Interest Advance directly to itself to satisfy obligations for the payment of interest under the Note from time to time as the same become due and payable.

Advance Requests. [[Organization A:Organization]] may request that [[Organization B:Organization]] make an Advance by delivering to [[Organization B:Organization]] an Advance Request therefor and [[Organization B:Organization]] shall be entitled to rely on all the information provided by [[Organization A:Organization]] to [[Organization B:Organization]] on or with the Advance Request. The [[Organization B:Organization]] may honor Advance Requests, instructions or repayments given by the [[Organization A:Organization]] (if an individual) or by any Authorized Person.

Section # Applicable Interest Period. The interest period with respect to each Advance under the LOC shall be the period commencing on the date such Advance was made to Borrower by Lender, which shall commence the date such funds were withdrawn by Borrower from the LOC Disbursement Account and continuing until such Advance is repaid in full.

Subject to the terms of this Agreement, the Lender shall make available to the Borrower each Advance referred to in Clause 2.1, before the close of business on the requested Disbursement Date by transferring such Advance to the bank account as shall be designated by the Borrower.

Shows an effective date and time that is # as of the date and time of disbursement of the Warehousing Advance from escrow, or # in the event the Warehousing Advance relates to a Pre-funded Mortgage Loan, as of the date and time of the recording of the Mortgage.

Section # Conditions Precedent to Advance of Funds. As conditions precedent to the disbursement of any Advance, Lender, unless otherwise expressly waived in writing by Lender, shall have received and approved the following, all of which shall be complete, true, accurate and in form satisfactory to Lender in its sole reasonable discretion:

“Advance” or “Advances” shall mean, individually and collectively, an advance of Loan Proceeds pursuant to this Agreement and the Note.

Prior to the First Advance, Borrower shall have delivered to Lender an executed Control Agreement (as defined in the Security Agreement), for each of the Interest Credit Account and the LOC Disbursement Account.

The agreement of Lenders to make any Advance requested to be made on any date (including the initial Advance), is subject to the satisfaction of the following conditions precedent as of the date such Advance is made:

Reimbursement of Expense Advance. Within five (5) Business Days after the execution of this Agreement, the Holders will refund $56,792.06 advanced to the Holders to cover their costs and expenses in connection with the Transaction Documents.

Term Advance Facility Fee. Borrower shall pay the Term Advance Facility Fee to Lender promptly upon the execution of the Second Amendment.

Term Advance Termination Fee. In the event the Term Advance is prepaid in full prior to January 31, 2020 by a lender other than Lender, Borrower shall pay the Term Advance Termination Fee to Lender.