Common use of Commercial Paper Fundings Clause in Contracts

Commercial Paper Fundings. It is the intent of each Conduit Lender to fund its Loans hereunder through the issuance of Commercial Paper Notes and each Conduit Lender shall use its commercially reasonable efforts to fund each Loan as a CP Loan. If for any reason a Conduit Lender is unable, or determines that it is undesirable, to issue Commercial Paper Notes to fund or maintain its Loans, or is unable for any reason to repay such Commercial Paper Notes upon the maturity thereof, such Conduit Lender will avail itself of a Liquidity Funding to the extent available. If a Conduit Lender funds or refinances its Loans hereunder through a Liquidity Funding, in lieu of paying Interest at the CP Rate on such Loans, the Borrower will pay Interest thereon based upon the Alternate Base Rate or Adjusted Term SOFR, in accordance with Section 1.6 hereof. Nothing herein shall be deemed to constitute a commitment of any Conduit Lender (or its CP Issuer) to issue Commercial Paper Notes.

Commercial Paper Fundings. It is the intent of each Conduit Lender to fund its Loans hereunder through the issuance of Commercial Paper Notes and each Conduit Lender shall use its commercially reasonable efforts to fund each Loan as a CP Loan. If for any reason a Conduit Lender is unable, or determines that it is undesirable, to issue Commercial Paper Notes to fund or maintain its Loans, or is unable for any reason to repay such Commercial Paper Notes upon the maturity thereof, such Conduit Lender will avail itself of a Liquidity Funding to the extent available. If a Conduit Lender funds or refinances its Loans hereunder through a Liquidity Funding, in lieu of paying Interest at the CP Rate on such Loans, the Borrower will pay Interest thereon based upon at the Alternate Base Rate or Adjusted Term SOFRthe Eurodollar Rate, in accordance with Section 1.6 hereof. Nothing herein shall be deemed to constitute a commitment of any Conduit Lender (or its CP Issuer) to issue Commercial Paper Notes.