Equity Contribution Shortfalls. (a) If any Equity Contributor does not timely make the full amount of any Equity Contribution it is required to make, and such failure continues for two (2) Business Days after receipt of written notice from the Loan Servicer, then the Loan Servicer, by instruction to the Collateral Agent, may elect to fund the shortfall by drawing on any of the sources available provided by the relevant Equity Contributor as specified in Sections 2.1.2 or 2.2.3. If the required funds are made available to the Collateral Agent consistent with the terms of the applicable security or guaranty documents, the applicable Base Equity Contribution shall be deemed timely made. (b) If as of any Base Equity Contribution Date or Overrun Equity Contribution Date, (i) an Equity Contributor has made Equity Contributions to the Equity Funding Account in excess of the amounts required from such Equity Contributor under Section 2.3.1 or Section 2.3.2 (as applicable) and (ii) another Equity Contributor has failed to make all of its required Equity Contribution under Section 2.3.1 or Section 2.3.2 (as applicable), the Credit Parties shall not transfer the excess Equity Contributions of the overfunding Equity Contributor from the Equity Funding Account to make up for the shortfall of the underfunding Equity Contributor, unless and until an Equity Acceleration Date occurs.
Appears in 7 contracts
Samples: Equity Funding Agreement, Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc)