Overrun Notice Clause Samples

Overrun Notice. If the Facility Agent, at any time, determines that a Cost Overrun event has occurred, the Borrower or the Facility Agent (if the Borrower fails to do so) may, issue a notice to the Sponsor requiring the Sponsor to fund the amount of such Cost Overrun (hereinafter referred to as the “Overrun Notice”). Upon receipt of an Overrun Notice, the Sponsor shall arrange for infusion of funds to the Table of Contents Borrower in the manner specified in Section 2.2.1 above, to the extent specified in the Overrun Notice within such time period as may be specified by the Facility Agent. The Facility Agent shall be entitled to make multiple determinations regarding the occurrence of event of Cost Overrun and upon making any such determination from time to time the provisions specified in Sections 2.1 and 2.2 shall be followed.