Funding Date definition
Examples of Funding Date in a sentence
Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Purchaser, and each Purchaser will purchase from the Company, on each Funding Date as provided in Section 3, Notes in the principal amount specified opposite such Purchaser’s name in Schedule B (all such amounts with respect to a Purchaser, such Purchaser’s “Note Commitment”) at the purchase price of one hundred percent (100%) of the principal amount thereof.
The parties hereto acknowledge and agree that a singular physical Note will be issued to each Purchaser on the first Funding Date, and that on each subsequent Funding Date, the principal amount of such Note shall increase (and the Purchaser shall be entitled to reflect the foregoing) in accordance with Section 1.1 above.
Subject to timely receipt of the Funding Statement, Bank shall initiate disbursement of Loan Proceeds on each Funding Date on behalf of the Borrowers in accordance with the instructions on the Funding Statement.
With respect to the disbursement of Loan Proceeds via any Card, Company will provide a Funding Statement to Bank by e-mail or as otherwise mutually agreement by the Parties by 12:00 noon Mountain Time on each Funding Date, to compare against the drawdown request from the Network and allow the Bank to confirm the drawdown request from the Network.
For the avoidance of doubt, each Funding shall have its own independent thirty (30) month Base Term commencing from the applicable Funding Date, and the applicable Funding Principal Amount shall amortize separately over such Base Term.