Required Payment Time means, (i) promptly on demand, and in any event within two (2) Business Days, to the extent such funds are available in the Collateral Accounts of the applicable Fund Group; and (ii) otherwise, to the extent that it is necessary for the Credit Parties of the applicable Fund Group to issue a Capital Call to fund such required payment, within fifteen (15) Business Days after the Administrative Agent’s demand (but, in any event, the applicable Borrower or Borrowers shall make such payment promptly after the related Capital Contributions are received).
Required Payment Time means (a) within two (2) Business Days, to the extent such funds are available in the Collateral Accounts; and (b) otherwise, within fifteen (15) days.
Required Payment Time means in immediately available funds, as follows: (i) promptly, and in any event within two (2) Business Days to the extent such funds are available in the Collateral Accounts and not intended to be used for Anticipated Expenses (so long as after giving effect to the reduction of such amounts for Anticipated Expenses, the sum of the Collateral that remains available in the Collateral Accounts and the aggregate Unfunded Capital Commitments is equal to or in excess of 175% of the Obligations outstanding at such time (except as otherwise consented to by the Administrative Agent in its sole discretion)) or (ii) to the extent such funds (other than funds intended to be used for Anticipated Expenses) are not available in the Collateral Accounts, within five (5) Business Days; provided, however, that if at any time prior to or during such five (5) Business Day period under clause (ii) above, the Guarantor makes an Investor Capital Call, then such payment shall be made within ten (10) Business Days of the end of such two (2) Business Day period specified in clause (i) above (the “Prepayment Period”) and the Primary Borrower agrees that it shall apply such funds for repayment immediately after the Investor Capital Contributions relating to such Investor Capital Calls are received.
Examples of Required Payment Time in a sentence
If, on any day, the Dollar Equivalent of the Principal Obligations exceed the Available Commitment (including as a result of an Exclusion Event), then the Borrowers shall pay without further demand such excess to the Administrative Agent, for the benefit of the Lenders, in immediately available funds (except to the extent any such excess is addressed by Section 3.5(b)(ii)) by the Required Payment Time.
At any time that there shall exist a Defaulting Lender, by the Required Payment Time, the Borrowers shall Cash Collateralize the Fronting Exposure of the Letter of Credit Issuer with respect to such Defaulting Lender (determined after giving effect to Section 12.12(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.
Each Borrower hereby agrees that if any such payments have not been made by the Required Payment Time, then the Administrative Agent may withdraw from any Collateral Account any Capital Contributions deposited therein and apply the same to the Principal Obligations until such time as the payment obligations of this Section 3.5(b) have been satisfied in full.
More Definitions of Required Payment Time
Required Payment Time means, (i) promptly on demand, and in any event within two (2) Business Days, to the extent such funds are available in the Collateral Accounts or any other account maintained by the Borrowers; and (ii) otherwise, to the extent that it is necessary for the Credit Parties to issue a Capital Call to fund such required payment, within fifteen (15) Business Days after the Administrative Agent’s demand (but, in any event, the Credit Parties shall make such payment promptly after related Capital Contributions are received).
Required Payment Time means, (a) promptly on demand but in no event later than two (2) Business Days following such demand, to the extent such funds are available in a Collateral Account and credited to or held for the Initial Borrower; and (b) otherwise within fifteen (15) Business Days of demand, to the extent that it is necessary for the Initial Borrower to issue Demand Notices (and the Initial Borrower will issue such Demand Notices and the Initial Borrower shall make such payment promptly after the Contributions relating to such Demand Notices are received).
Required Payment Time means, in immediately available funds, as follows: (i) promptly, and in any event within two (2) Business Days to the extent such funds are available in the Collateral Accounts and not intended to be used for Anticipated Expenses or (ii) to the extent such funds (other than funds intended to be used for Anticipated Expenses) are not available in the Collateral Accounts, within five (5) Business Days; provided, however, that if at any time prior to or during such five (5) Business Day period under clause (ii) above the Borrowers, Pledgors or General Partners make an Investor Capital Call, then such payment shall be made within fifteen (15) Business Days of the end of such two (2) Business Day period specified in clause (i) above (the “Prepayment Period”) and each of the Borrowers and Borrower General Partners, as applicable, agree that it shall apply such funds for repayment immediately after the Investor Capital Contributions relating to such Investor Capital Calls are received.
Required Payment Time means in immediately available funds (except to the extent any such excess is addressed by clause (b) of this definition), as follows: (a) promptly, and in any event within two (2) Business Days, to the extent such funds are available in a Collateral Account or any other account maintained by the Borrowers (except to the extent such funds in any such other account are the proceeds of a Capital Call made prior to the Borrowers’ knowledge of the required mandatory prepayment pursuant to Section 3.5(b) and have been earmarked for a contractually binding investment that will be consummated on or prior to the tenth (10th) Business Day following the date on which the Borrowers first become aware of such required mandatory prepayment); and (b) within ten (10) Business Days of demand, to the extent that it is necessary for the Borrowers to issue a Capital Call to fund such required payment (and the Borrowers shall issue such Capital Calls (and shall pay such excess immediately after the Capital Contributions relating to such Capital Call are received)).
Required Payment Time means in immediately available funds, as follows: (a) promptly, and in any event within two (2) Business Days to the extent such funds are available in the Collateral Accounts and not intended to be used for Anticipated Expenses or (ii) to the extent such funds (other than funds intended to be used for Anticipated Expenses) are not available in the Collateral Accounts, within five (5) Business Days; provided that if at any time prior to or during such five (5) Business Day period under clause (ii) of this definition, the Credit Parties make an Investor Capital Call, then such payment shall be made within fifteen (15) Business Days of the end of such five (5) Business Day period (the “Prepayment Period”) and the relevant Borrower and/or Fund agrees that it shall apply such funds for repayment immediately after the Investor Capital Contributions relating to such Investor Capital Calls are received).
Required Payment Time means, with respect to any event or circumstance giving rise to a requirement of a Borrower to make any payment: (a) within two (2) Business Days of the occurrence of such event or circumstance, to the extent funds are available in the Collateral Accounts or any other account maintained by a Borrower; and (b) otherwise, to the extent that it is necessary for the Credit Parties to issue a Capital Call to fund any required payment, within ten (10) Business Days of the occurrence of such event or circumstance (but, in any event, the Credit Parties shall issue such Capital Call and shall make such payment promptly after the related Capital Contributions are received).
Required Payment Time means, (i) promptly upon demand or the obligation of the Borrower to pay, as applicable, and in any event within three (3) Business Days of such demand or obligation, to the extent such funds are available in the Collateral Account or any other account maintained by the Borrower; and (ii) otherwise, to the extent that it is necessary for the Borrower to issue a Capital Call to fund such required payment, within thirteen (13) Business Days of demand or the obligation of the Borrower to pay, as applicable (but, in any event, the Borrower shall issue such Capital Call and shall make such payment promptly after the related Capital Contributions are received).