Common use of Defaulting Alternate Investor Clause in Contracts

Defaulting Alternate Investor. If, by 2:00 p.m. (New York City time), whether or not the Agent has advanced the amount of the applicable Investment, one or more Alternate Investors with respect to a Class (each, a “Defaulting Alternate Investor”, and each Alternate Investor with respect to such Class other than any Defaulting Alternate Investor being referred to as a “Non-Defaulting Alternate Investor”) fails to make either (1) its Alternate Investor Percentage of the related Class Pro Rata Share of any Investment available to the Agent pursuant to Section 2.3(d) or (2) any Assignment Amount payable by it pursuant to Section 3.1 (the aggregate amount not so made available to the Agent being herein called in either case the “Investment Deficit”), then the related Class Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Investment Date or the applicable Assignment Date, as the case may be, instruct each Non-Defaulting Alternate Investor to pay, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the account designated by the related Class Agent, an amount equal to the lesser of (i) such Non-Defaulting Alternate Investor’s proportionate share (based upon the relative Commitments of the Non-Defaulting Alternate Investors) of the Investment Deficit and (ii) its unused Commitment. A Defaulting Alternate Investor shall forthwith, upon demand, pay to the related Class Agent for the ratable benefit of the Non-Defaulting Alternate Investors all amounts paid by each Non-Defaulting Alternate Investor on behalf of such Defaulting Alternate Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Alternate Investor until the date such Non-Defaulting Alternate Investor has been paid such amounts in full, at a rate per annum equal to the Default Rate. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Investment Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Alternate Investor shall pay interest to the related Class Agent, for the account of the related Conduit Investor, on such Defaulting Alternate Investor’s portion of such remaining Investment Deficit, at a rate per annum, equal to the Default Rate, for each day from the applicable Assignment Date until the date such Defaulting Alternate Investor shall pay its portion of such remaining Investment Deficit in full to such Conduit Investor.

Defaulting Alternate Investor. If, by 2:00 p.m. (New York City time)) on the proposed date of any Incremental Funding, whether or not the Agent has advanced the amount of the applicable Investment, Incremental Funding one or more Alternate Investors with respect to a Class (each, a “Defaulting Alternate Investor”, and each Alternate Investor with respect to such Class other than any a Defaulting Alternate Investor being referred to as a “Non-Defaulting Alternate Investor”) fails to make available to the Agent either (1) its Alternate Investor Percentage of the related Class Pro Rata Share of any Investment available to the Agent pursuant to such Incremental Funding required under Section 2.3(d) 2.03 or (2) any its Assignment Amount payable by it pursuant to Purchase Price under Section 3.1 2.09 (the aggregate amount not so made available to the Agent being herein called in either case the “Investment Purchase Price Deficit”), then upon notice from the related Class Agent shallAgent, by no later than 2:30 p.m. (New York City time) on the each applicable Investment Date or the applicable Assignment Date, as the case may be, instruct each Non-Defaulting Alternate Investor to shall promptly pay, by no later than 3:00 p.m. (New York City time)) to the Agent, in immediately available funds, to the funds at an account designated by the related Class Agent, an amount equal to the lesser of (ix) such Non-Defaulting Alternate Investor’s proportionate share (based upon the relative Commitments of the Non-Defaulting Alternate Investors) of the Investment Purchase Price Deficit and (iiy) its unused applicable Commitment. A Defaulting Alternate Investor shall forthwith, upon demand, pay to the related Class Agent for the ratable benefit of the Non-Defaulting Alternate Investors all amounts paid by each Non-Defaulting Alternate Investor on behalf of such Defaulting Alternate Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Alternate Investor until the date such Non-Defaulting Alternate Investor has been paid such amounts in full, at a rate per annum equal to the Default sum of the Corporate Base Rate, plus 2.00%. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Investment Purchase Price Deficit with respect to any Assignment Amount Purchase Price continues to exist, each such Defaulting Alternate Investor shall pay interest to the related Class Agent, for the account of the related applicable Conduit Investor, on such Defaulting Alternate Investor’s portion of such remaining Investment Purchase Price Deficit, at a rate per annum, annum equal to the Default sum of the Corporate Base Rate, plus 2.00%, for each day from the applicable Assignment Date until the date such Defaulting Alternate Investor shall pay its portion of such remaining Investment Purchase Price Deficit in full to such the applicable Conduit Investor, as applicable. The obligations of the Alternate Investors to make Incremental Fundings hereunder are several and not joint, and the failure of any Alternate Investor to pay its applicable portion of any Incremental Funding hereunder shall not relieve any other Alternate Investor of its obligation, if any, hereunder to pay an amount equal to its applicable portion of such Incremental Funding, as the case may be.

Defaulting Alternate Investor. If, by 2:00 p.m. (New York City time), whether or not the Agent has advanced the amount of the applicable Investment, one or more Alternate Investors with respect to a Class (each, a “Defaulting Alternate Investor”, and each Alternate Investor with respect to such Class other than any Defaulting Alternate Investor being referred to as a “Non-Defaulting Alternate Investor”) fails to make either (1) its Alternate Investor Percentage of the related Class Pro Rata Share of any Investment available to the Agent pursuant to Section 2.3(d) or (2) any Assignment Amount payable by it pursuant to Section 3.1 (the aggregate amount not so made available to the Agent being herein called in either case the “Investment Deficit”), then the related Class Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Investment Date or the applicable Assignment Date, as the case may be, instruct each Non-Defaulting Alternate Investor to pay, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the account designated by the related Class Agent, an amount equal to the lesser of (i) such Non-Defaulting Alternate Investor’s proportionate share (based upon the relative Commitments of the Non-Defaulting Alternate Investors) of the Investment Deficit and (ii) its unused Commitment. A Defaulting Alternate Investor shall forthwith, upon demand, pay to the related Class Agent for the ratable benefit of the Non-Defaulting Alternate Investors all amounts paid by each Non-Defaulting Alternate Investor on behalf of such Defaulting Alternate Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Alternate Investor until the date such Non-Defaulting Alternate Investor has been paid such amounts in full, at a rate per annum equal to the Default sum of the Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Investment Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Alternate Investor shall pay interest to the related Class Agent, for the account of the related Conduit Investor, on such Defaulting Alternate Investor’s portion of such remaining Investment Deficit, at a rate per annum, equal to the Default sum of the Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Alternate Investor shall pay its portion of such remaining Investment Deficit in full to such the Conduit Investor.

Defaulting Alternate Investor. If, by 2:00 p.m. (New York City time), whether or not the Agent has advanced the amount of the applicable InvestmentVariable Funding Advance, one or more Alternate Investors with respect to a Class (each, a “"Defaulting Alternate Investor”", and each Alternate Investor with respect to such Class other than any a Defaulting Alternate Investor being referred to as a “"Non-Defaulting Alternate Investor”") fails to make available to the Agent either (1) its Alternate Investor Percentage of the related Class Pro Rata Share of any Investment available to the Agent pursuant to Variable Funding Advance required under Section 2.3(d) 2.03 or (2) any its Assignment Amount payable by it pursuant to Purchase Price under Section 3.1 2.07 (the aggregate amount not so made available to the Agent being herein called in either case the “Investment "Purchase Price Deficit”"), then upon notice from the related Class Agent shallAgent, by no later than 2:30 p.m. (New York City time) on the applicable Investment Date or the applicable Assignment Date, as the case may be, instruct each Non-Defaulting Alternate Investor to shall promptly pay, by no later than 3:00 p.m. (New York City time)) to the Agent, in immediately available funds, to the funds at an account designated by the related Class Agent, an amount equal to the lesser of (ix) such Non-Defaulting Alternate Investor’s 's proportionate share (based upon the relative Commitments of the Non-Defaulting Alternate Investors) of the Investment Purchase Price Deficit and (iiy) its unused Commitment. A Defaulting Alternate Investor shall forthwith, upon demand, pay to the related Class Agent for the ratable benefit of the Non-Defaulting Alternate Investors all amounts paid by each Non-Defaulting Alternate Investor on behalf of such Defaulting Alternate Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Alternate Investor until the date such Non-Defaulting Alternate Investor has been paid such amounts in full, at a rate per annum equal to the Default sum of the Corporate Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Investment Purchase Price Deficit with respect to any Assignment Amount Purchase Price continues to exist, each such Defaulting Alternate Investor shall pay interest to the related Class Agent, for the account of the related Conduit Investor, on such Defaulting Alternate Investor’s 's portion of such remaining Investment Purchase Price Deficit, at a rate per annum, equal to the Default sum of the Corporate Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Alternate Investor shall pay its portion of such remaining Investment Purchase Price Deficit in full to such the Conduit Investor. It is understood and agreed that this Section 2.09 shall in no manner relieve any Alternate Investor of its obligation to fund any Variable Funding Advance hereunder, subject to the conditions of the Agreement.