Delayed Funding Clause Samples
The Delayed Funding clause establishes the terms under which the disbursement of funds may be postponed beyond the originally agreed schedule. Typically, this clause outlines specific conditions or events—such as failure to meet certain milestones, incomplete documentation, or regulatory delays—that justify a delay in funding. By clearly defining when and how funding can be delayed, the clause helps manage expectations and reduces disputes between parties, ensuring that both sides understand the circumstances under which funding may not proceed as initially planned.
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Delayed Funding. Notwithstanding anything to the contrary in this Agreement, at any time after any Seller delivers a Purchase notice in respect of a Receivable Pool pursuant to Section 1.2(a), and prior to the Purchase Date requested thereby, any Purchaser Agent (on behalf of the Purchasers in its Purchaser Group) that has delivered the certifications set forth in the following paragraph may notify the applicable Administrative Agent, each Purchaser Agent and the Servicer and the Sellers in writing (such notice, a “Delayed Purchase Notification”) of its Purchaser Group’s intention to fund all or any portion of its Ratable Share of such Purchase on the Delayed Purchase Date rather than on the requested Purchase Date. If any Purchaser Agent so delivers a Delayed Purchase Notification with respect to a requested Purchase Date, no Purchaser shall be obligated to, or shall, fund the related Purchase (or such Purchaser’s portion thereof) until the applicable Delayed Purchase Date, and the Sellers may (i) not later than three (3) Business Days prior to such Delayed Purchase Date, deliver an updated Purchase notice to the applicable Administrative Agent in accordance with Section 1.2(a) specifying the information set forth in clauses (A) through (C) thereof with respect to such Delayed Purchase Date, and such Delayed Purchase Date shall constitute a Purchase Date for all purposes hereof or (ii) at any time prior to the third (3rd) Business Day preceding the Delayed Purchase Date, rescind the Purchase notice partially or in its entirety (and if partially, pro rata among the Purchaser Groups in accordance with the terms of this Agreement and the amount of such partial reduction shall be an amount at least equal to $10,000,000 for any Purchase and in integral multiples of $100,000 in excess thereof). In the event the Sellers comply with clause (i) above following any Delayed Purchase Notification, all Purchaser Groups shall fund their respective portions of the applicable Purchase on the applicable Delayed Purchase Date (rather than on the Sellers’ originally requested Purchase Date) so long as all conditions precedent to Purchases set forth herein are satisfied on such Delayed Purchase Date. If any Purchaser Agent delivers a Delayed Purchase Notification pursuant to this Section 1.2(i), such Purchaser Agent shall (i) concurrently with such delivery, deliver to the applicable Administrative Agent, each Purchaser Agent and the Sellers a certification by such Purchaser Agent or the Com...
Delayed Funding. If the Borrower delivers a request for an Advance pursuant to Section 2.02, then the Lenders may, not later than 4:00 p.m., New York City time on the date that is one (1) Business Day prior to the proposed Borrowing Date, deliver a written notice (a “Delayed Funding Notice”, and the date of such delivery, the “Delayed Funding Notice Date”) to the Borrower of its intention to fund the Advance (such amount, the “Delayed Amount”) on a date (the date of such funding, the “Delayed Funding Date”) that is on or before the thirty-fifth (35th) day following the date of such request for an Advance (or if such day is not a Business Day, then on the next succeeding Business Day) rather than on the requested Borrowing Date; provided, however, that if Borrower receives a Delayed Funding Notice, the Borrower may revoke the related request for Advance by providing written notice thereof to the Administrative Agent. A Lender that delivers a Delayed Funding Notice with respect to any Borrowing Date shall be referred to herein as a “Delaying Lender” with respect to such Borrowing Date. If the conditions to any Advance described in Section 3.02 are satisfied on the requested Borrowing Date, there shall be no conditions to the Lenders’ obligation to fund the requested amount on the related Delayed Funding Date. On each Delayed Funding Date, the Delaying Lender shall fund an aggregate amount equal to the Delayed Amount for such Delayed Funding Date. No Unused Fee shall accrue on the Delayed Amount of such Delaying Lender’s Commitment. Each Lender agrees that, to the extent it is a Delaying Lender, such Lender will agree not to adversely select this transaction for delayed funding with respect to an Advance as compared to other similar transactions requesting advances at such time.
Delayed Funding. If Seller incurs additional costs or is delayed in the performance of the work under this Contract, solely by reason of the failure of Buyer to allot additional funds in amounts sufficient for the timely performance of this Contract, and if funds are later allotted sufficient to resume performance, the parties agree to negotiate an equitable adjustment in the price or prices (including appropriate target, billing, and ceiling prices where applicable) or in the time of delivery, or both. Failure to agree to any such equitable adjustment hereunder will be a dispute concerning a question of fact within the meaning of the clause entitled “Disputes.”
Delayed Funding. ▇▇▇▇▇▇ POCKET may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. RupeeCircle may delay depositing the funds of a loan if it foresees any discrepancy in the accuracy of the information provided by the Eligible Borrower or Eligible Lenders; or
Delayed Funding. Sudha Pocket may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. BBN ▇▇▇▇▇ LIMITED may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. Kisan Instant may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.
Delayed Funding. NSTXL shall not be liable to the PROJECT AGREEMENT HOLDER for any charge, cost, fee, interest payment or other penalty where a delay in funding is not the direct result of an NSTXL willful act and/or omission to withhold funds, including any delay by the Government to release funds, that are owed and due to the PROJECT AGREEMENT HOLDER.
Delayed Funding. If, for any reason, the applicable Asset to be financed hereunder on the date specified in the relevant Loan Request (the “Scheduled Drawdown Date”) shall not be so financed on or prior to seven Business Days (or such longer period as agreed by the Borrower requested by the Borrower in a Loan Request, the Lenders will transfer an amount equal to the amount of the Prepositioned Funds specified in such Loan Request to the Administrative Agent (prior to the satisfaction of applicable conditions precedents under Section 3.02), and the Administrative Agent) after the Scheduled Drawdown Date (the “Cutoff Date”), the funds held in shall further transfer such Prepositioned Funds to (x) the Funding Account (the “Prepositioned Funds”), and earnings