Variable Funding Asset definition

Variable Funding Asset means any Revolving Loan or other asset that by its terms may require one or more future advances to be made to the related Obligor by any lender thereon or owner thereof.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Variable Funding Asset means any Delayed Drawdown Collateral Obligation or Revolving Collateral Obligation.

Variable Funding Asset means any Revolving Loan or other asset that by its terms may

Examples of Variable Funding Asset in a sentence

• It has no Indebtedness, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than (i) Indebtedness incurred under the terms of the Transaction Documents, (ii) Indebtedness incurred pursuant to certain ordinary business expenses arising pursuant to the transactions contemplated by this Agreement and the other Transaction Documents and (iii) Indebtedness incurred under the terms of any Variable Funding Asset.

• Except as set forth below, amounts on deposit in the Unfunded Exposure Account may be withdrawn at the direction of the Borrower or at the direction of the Servicer (i) to fund any draw requests of the relevant Obligors under any Variable Funding Asset, or (ii) to make a deposit into the Principal Collections Account if, after giving effect to such withdrawal, the aggregate amount on deposit in the Unfunded Exposure Account is equal to or greater than the Aggregate Unfunded Amount.

More Definitions of Variable Funding Asset

Variable Funding Asset means any Revolving Loan or other asset that by its terms may require one or more future advances to be

Variable Funding Asset. : means any Revolving Loan or other asset that by its terms may require one or more future advances to be made to the related Obligor by any lender thereon or owner thereof.