Delayed Funding Clause Samples
The Delayed Funding clause establishes the terms under which the disbursement of funds may be postponed beyond the originally agreed schedule. Typically, this clause outlines specific conditions or events—such as failure to meet certain milestones, incomplete documentation, or regulatory delays—that justify a delay in funding. By clearly defining when and how funding can be delayed, the clause helps manage expectations and reduces disputes between parties, ensuring that both sides understand the circumstances under which funding may not proceed as initially planned.
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Delayed Funding. If Seller incurs additional costs or is delayed in the performance of the work under this Contract, solely by reason of the failure of Buyer to provide additional funds in amounts sufficient for the timely performance of this Contract, and if additional funds are later provided to resume performance, the parties agree to negotiate an equitable adjustment in the price or prices (including appropriate target, billing, and ceiling prices where applicable) or in the time of delivery, or both. Failure to agree to any such equitable adjustment hereunder will be a dispute concerning a question of fact within the meaning of the clause entitled “Disputes.”
Delayed Funding. If the Borrower delivers a request for an Advance pursuant to Section 2.02, then the Lenders may, not later than 4:00 p.m., New York City time on the date that is one (1) Business Day prior to the proposed Borrowing Date, deliver a written notice (a “Delayed Funding Notice”, and the date of such delivery, the “Delayed Funding Notice Date”) to the Borrower of its intention to fund the Advance (such amount, the “Delayed Amount”) on a date (the date of such funding, the “Delayed Funding Date”) that is on or before the thirty-fifth (35th) day following the date of such request for an Advance (or if such day is not a Business Day, then on the next succeeding Business Day) rather than on the requested Borrowing Date; provided, however, that if Borrower receives a Delayed Funding Notice, the Borrower may revoke the related request for Advance by providing written notice thereof to the Administrative Agent. A Lender that delivers a Delayed Funding Notice with respect to any Borrowing Date shall be referred to herein as a “Delaying Lender” with respect to such Borrowing Date. If the conditions to any Advance described in Section 3.02 are satisfied on the requested Borrowing Date, there shall be no conditions to the Lenders’ obligation to fund the requested amount on the related Delayed Funding Date. On each Delayed Funding Date, the Delaying Lender shall fund an aggregate amount equal to the Delayed Amount for such Delayed Funding Date. No Unused Fee shall accrue on the Delayed Amount of such Delaying Lender’s Commitment. Each Lender agrees that, to the extent it is a Delaying Lender, such Lender will agree not to adversely select this transaction for delayed funding with respect to an Advance as compared to other similar transactions requesting advances at such time.
Delayed Funding. ▇▇▇▇▇▇ POCKET may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. If the Borrower delivers a request for an Advance pursuant to Section 2.02, then the Lenders may, not later than 4:00 p.m., New York City time on the date that is one (1) Business Day prior to the proposed Borrowing Date, deliver a written notice (a "Delayed Funding Notice", and the date of such delivery, the "Delayed Funding Notice Date") to the Borrower of its intention to fund the Advance (such amount, the "Delayed Amount") on a date (the date of such funding, the "Delayed Funding Date") that is on or before the thirty-fifth (35th) day following the date of such request for an Advance (or if such day is not a Business Day, then on the next succeeding Business Day) rather than on the requested Borrowing Date; provided, however, that if Borrower receives a Delayed Funding Notice, the Borrower may revoke the related request for Advance by providing written notice thereof to the Administrative Agent. A Lender that delivers a Delayed Funding Notice with respect to any Borrowing Date shall be referred to herein as a "Delaying Lender" with respect to such Borrowing Date. If the conditions to any Advance described in Section 3.02 are satisfied on the requested Borrowing Date, there shall be no conditions to the Lenders' obligation to fund the requested amount on the related Delayed Funding Date. On each Delayed Funding Date, the Delaying Lender shall fund an aggregate amount equal to the Delayed Amount for such Delayed Funding Date. No Unused Fee shall accrue on the Delayed Amount of such Delaying Lender's Commitment. Each Lender agrees that, to the extent it is a Delaying Lender, such Lender will agree not to adversely select this transaction for delayed funding with respect to an Advance as compared to other similar transactions requesting advances at such time.
Delayed Funding. AATMANIRBHARLOAN may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. Sudha Pocket may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. Kisan Instant may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. RupeeCircle may delay depositing the funds of a loan if it foresees any discrepancy in the accuracy of the information provided by the Eligible Borrower or Eligible Lenders; or
Delayed Funding. If, for any reason, the applicable Asset to be financed hereunder on the date specified in the relevant Loan Request (the “Scheduled Drawdown Date”) shall not be so financed on or prior to seven Business Days (or such longer period as agreed by the Borrower and the Administrative Agent) after the Scheduled Drawdown Date (the “Cutoff Date”), the funds held in the Funding Account (the “Prepositioned Funds”), and earnings - 58 - thereon, shall be invested and reinvested by the Security Trustee at the sole direction, for the account, and at the risk of the Borrower in an overnight investment selected by the Borrower and acceptable to the Security Trustee. If the actual Drawdown Date for the applicable Asset is a date falling after the Scheduled Drawdown Date, the Borrower shall pay interest at the Interest Rate to each Lender on the amount of its Prepositioned Funds for the period from and including such Scheduled Drawdown Date to but excluding the earlier of (A) the actual Drawdown Date for such Asset or (B) the Cutoff Date. Interest on the Prepositioned Funds accrued pursuant to the preceding sentence shall be paid on the next succeeding Payment Date. If, for any reason, the Asset to be financed hereunder shall not be so financed on or prior to the Cutoff Date, the Security Trustee shall return each Lender’s portion of the Prepositioned Funds to such Lender.
Delayed Funding. NSTXL shall not be liable to the PROJECT AGREEMENT HOLDER for any charge, cost, fee, interest payment or other penalty where a delay in funding is not the direct result of an NSTXL willful act and/or omission to withhold funds, including any delay by the Government to release funds, that are owed and due to the PROJECT AGREEMENT HOLDER.