Common use of Adjustment for Reduced Funding Clause in Contracts

Adjustment for Reduced Funding. Notwithstanding anything in this Article IV to the contrary, in the event that, on any Purchase Date on which Agent has entered into, or is obligated to enter into, an Additional Funding Transaction with respect to which any Funded Purchase Price is to be paid in accordance with Section 4.2(b), one or more Buyers (any such Buyer, a “Defaulting Buyer”) fails to fund its respective Funding Amount on such Purchase Date when and as required by Section 4.2(b), then Agent shall promptly give notice of such failure to Seller and each other Buyer. Upon Agent’s giving of such notice:

Adjustment for Reduced Funding. Notwithstanding anything in this Article IV to the contrary, in the event that, on any Purchase Date on which Agent has entered into, or (on behalf of the Participating Buyers) is obligated to enter into, an Additional Funding into a Transaction with respect to which any Funded Purchase Price Funding Amount is to be paid in accordance with Section 4.2(b4.2(a), one or more Buyers (any such Buyer, a “Defaulting Buyer”) fails to fund its respective Funding Amount on such Purchase Date when and as required by Section 4.2(b4.2(a), then Agent shall promptly give notice of such failure to Seller and each other Buyer. Upon Agent’s giving of such notice: