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<br />20 <br /> <br />25 <br /> <br />30 <br /> <br />5 <br /> <br />that the Originator shall have no other right to funds paid or rights held with <br />respect to the Participant's undivided ownership interest in the loans, under <br />Equipment Loan I, all of which shall be held as agent for the benefit of the <br />Participant (provided that the Originator may commingle payments received for the <br />benefit of the Participant with the funds of the Originator so long as such payments <br />are turned over to the Participant within the time period provided in Paragraph IV <br />below). <br /> <br />10 <br /> <br />m. <br />PAYMENT OF PURCHASE PRICE OF PARTICIPATIONS: NOTICES <br /> <br />15 <br /> <br />a. The Originator shall use its best efforts to transmit notice to the <br />Participant, which notice shall be given in accordance with Paragraph X, of each <br />request for a loan under Equipment Loan I promptly upon receipt by the Originator <br />of such request, unless such notice has otherwise been provided by the Borrower to <br />the Participant. Such notice shall specify the proposed funding date and the amount <br />of the corresponding loan the Borrower has requested the Originator to make to <br />respond to such request. [3] ^Provided that the Originator or the Borrower has <br />orovided the PartiC;;foant with--.WTitten or ~leohonic notice of a reauested loan by <br />12:00 noon (Saint Paul time) of the funding date for such loan, t~ Participant shall, <br />not later than 2:30 P.M. (Saint Paul time) on the funding date for such loan, remit to <br />the Originator (in immediately available funds) the purchase price for its <br />Participation in such loan. <br /> <br />b. Without limiting the obligation of the Participant to remit funds to <br />the Originator as provided in this Paragraph ill, if the Participant fails to remit the <br />purchase price of any loan under Equipment Loan I described in this Paragraph III to <br />the Originator in a timely fashion, and the amount of such purchase price is <br />nonetheless advanced by the Originator to the Borrower, the Participant hereby <br />agrees to pay to the Originator upon demand interest thereon at the Reference Rate <br />(as publicly announced by the Originator) plus two percent (2%) per annum <br />thereafter, until paid jn full. <br /> <br />35 <br /> <br />c. The Participant's Participation with respect to any loan under <br />Equipment Loan I shall be effective as of the day the purchase price for such <br />Participation is received by the Originator. The obligation of the Participant to <br />provide the Originator with the purchase price of the Participant's Participation in <br />any loan under Equipment Loan I is irrevocable and shall be absolute and <br />unconditional under any and all circumstances and irrespective of any set~off, <br />counterclaim or defense to payment that the Participant may have or have had <br />against the Originator, including, without limitation, any defense based on the <br />failure of such loan under Equipment Loan I to conform with the terms of <br />Equipment Note 1. Upon receipt by the Originator of the payment of the purchase <br /> <br />40 <br /> <br />-3- <br />