Common use of Delayed Funding Procedures Clause in Contracts

Delayed Funding Procedures. (i) A Delayed Funding Purchaser, upon receipt of any notice of an Advance pursuant to Section 2.2(a), promptly (but in no event later than 6:00 p.m. (New York time) on the second Business Day prior to the proposed date of such Advance) may notify HVF II in writing (a “Delayed Funding Notice”) of its election to designate such Advance as a delayed Advance (such Advance, a “Designated Delayed Advance”). If such Delayed Funding Purchaser’s ratable portion of such Advance exceeds its Required Non-Delayed Amount (such excess amount, the “Permitted Delayed Amount”), then the Delayed Funding Purchaser shall also include in the Delayed Funding Notice the portion of such Advance (such amount as specified in the Delayed Funding Notice, not to exceed such Delayed Funding Purchaser’s Permitted Delayed Amount, the “Delayed Amount”) that the Delayed Funding Purchaser has elected to fund on a Business Day that is on or prior to the thirty-fifth (35th) day following the proposed date of such Advance (such date as specified in the Delayed Funding Notice, the “Delayed Funding Date”) rather than on the date for such Advance specified in the related Advance Request.

Delayed Funding Procedures. (i) A Delayed Funding Purchaser, upon receipt of any notice of an Advance pursuant to Section 2.2(a2.03(a), promptly (but in no event later than 6:00 p.m. (New York time) on the second Business Day prior to the proposed date of such Advance) may notify HVF II in writing (a “Delayed Funding Notice”) of its election to designate such Advance as a delayed Advance (such Advance, a “Designated Delayed Advance”). If such Delayed Funding Purchaser’s ratable portion of such Advance exceeds its Required Non-Delayed Amount (such excess amount, the “Permitted Delayed Amount”), then the Delayed Funding Purchaser shall also include in the Delayed Funding Notice the portion of such Advance (such amount as specified in the Delayed Funding Notice, not to exceed such Delayed Funding Purchaser’s Permitted Delayed Amount, the “Delayed Amount”) that the Delayed Funding Purchaser has elected to fund on a Business Day that is on or prior to the thirty-fifth (35th) day following the proposed date of such Advance (such date as specified in the Delayed Funding Notice, the “Delayed Funding Date”) rather than on the date for such Advance specified in the related Advance Request.