Identified Funds Sample Clauses
The Identified Funds clause defines specific sources of financing or pools of money that are earmarked for a particular transaction or purpose within an agreement. In practice, this clause typically lists the exact accounts, credit lines, or financial instruments that will be used to fulfill payment obligations or fund a project. By clearly designating these funds, the clause ensures transparency and certainty for all parties, reducing the risk of disputes over the availability or appropriateness of financing.
Identified Funds. (i) TPG OG I hereby contributes to RemainCo I an equity interest in the Carry Vehicle of each Identified Fund formed before the date hereof held by TPG OG I, which will (A) entitle RemainCo I to a portion of the Carried Interest received by such Carry Vehicle with respect to such Identified Fund equal to the RemainCo Base Entitlement and (B) obligate RemainCo I to contribute to such Carry Vehicle any RemainCo Clawback Obligation of such Identified Fund that corresponds to such equity interest.
(ii) TPG OG II hereby contributes to RemainCo II an equity interest in the Carry Vehicle of each Identified Fund formed before the date hereof held by TPG OG II, which will (A) entitle RemainCo II to a portion of the Carried Interest received by such Carry Vehicle with respect to such Identified Fund equal to the RemainCo Base Entitlement and (B) obligate RemainCo II to contribute to such Carry Vehicle any RemainCo Clawback Obligation of such Identified Fund that corresponds to such equity interest.
(iii) TPG OG III hereby contributes to RemainCo III an equity interest in the Carry Vehicle of each Identified Fund formed before the date hereof held by TPG OG III an equity interest in such Carry Vehicle which will (A) entitle RemainCo III to a portion of the Carried Interest received by such Carry Vehicle with respect to such Identified Fund equal to the RemainCo Base Entitlement and (B) obligate RemainCo III to contribute to such Carry Vehicle any RemainCo Clawback Obligation of such Identified Fund that corresponds to such equity interest.
Identified Funds. Deposit and Transfer. Not later than the first Payment Processing Day that any payment received from a third party becomes Identified Funds, the Servicer will deposit the payment into the Depository Account. The Servicer will post the payment and initiate EFT transfer of Identified Funds to the Receipts Account within one Payment Processing Day after deposit to the Depository Account; provided, however, that Servicer may withhold for their proper purpose amounts needed to offset previous overpayments to the Receipts Account and to effect any other adjustment reasonably deemed necessary by the Servicer to resolve an account balance discrepancy, including, by way of example, but without limitation, (i) overpayments resulting from overestimated balances due to retire or consolidate Loans, (ii) payments mistakenly recognized as Identified Funds, wholly or in part, (iii) overdue servicing fees and charges as authorized in Section 8.2, below, and (iv) Returned Check Charges, Late Fees and Collection Costs pursuant to subsection (c), below. Monies so withheld may be transferred to the Refund Account or otherwise transferred to the proper party.