Common use of Equity Contribution Shortfalls Clause in Contracts

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.