Examples of Delayed Funding Date in a sentence
The advance of a Delayed Funding Shortfall Amount on a Delayed Funding Date is subject to the condition precedent (and each advance of a Delayed Funding Shortfall Amount on a Delayed Funding Date shall constitute the Transferor’s representation and warranty that such condition precedent is satisfied as of the related Delayed Funding Date) that no Insolvency Event with respect to the Transferor or the Servicer shall have occurred as of such Delayed Funding Date.
For the avoidance of doubt, no Delayed Funding Lender that has provided a Delayed Funding Notice in respect of an Advance shall be considered to be in default of its obligation to fund its Delayed Amount or be treated as a Defaulting Lender hereunder unless and until it has failed to fund the Delayed Funding Reimbursement Amount or the Second Delayed Funding Notice Amount on the related Delayed Funding Date in accordance with this Section 2.2(e)(iv).
Notwithstanding any provision hereof to the contrary, the Transferor may at any time prior to the Delayed Funding Date revoke by written notice to the applicable Delaying Purchaser Group any Notice of Incremental Funding with respect to all or any portion of a Delayed Amount constituting a Delayed Funding Shortfall Amount and the related Delaying Committed Purchaser or Delaying Purchaser Group will not be entitled to any indemnification by the Transferor due solely to such revocation or reduction.
On each Delayed Funding Date, the Delaying Lender shall fund an aggregate amount equal to the Delayed Amount for such Delayed Funding Date.
If the Transferor elects to treat the Purchasers in a Delaying Purchaser Group as Non-Extending Purchasers pursuant to Section 2.02(e)(ii) above, then (i) such Delayed Funding Date shall be deemed to be the Scheduled Purchase Expiration Date for such Delaying Purchasers and (ii) such Delaying Purchasers shall continue to be obligated to fund any amount required under Section 2.02(d) on the related Delayed Funding Date.