Common use of Failure of Lender to Fund Clause in Contracts

Failure of Lender to Fund. 6.1 If Lender fails to timely fund to Borrower after Borrower has complied with paragraph 1.1 above and has complied with all other provisions established therein the Lender failing to provide funds or failing to timely provide funds shall be a Lender default of this Loan Agreement. 6.2 If Lender is in default pursuant to this Section 6, Lender shall have three (3) calendar days from the date specified for funding in the Notice of Borrowing to cure its default. 6.3 Default by Lender which remains uncured after the three (3) calendar day period mentioned above, shall result in penalties of $1,000 per day (or partial day) which shall accrue until such Lender default is cured.

Failure of Lender to Fund. 6.1 7.1 If Lender fails to timely fund to Borrower after Borrower has complied with paragraph 1.1 above and has complied with all other provisions established therein the Lender failing to provide funds or failing to timely provide funds shall be a Lender default of this Loan Agreement. 6.2 7.2 If Lender is in default pursuant to this Section 67, Lender shall have three (3) calendar days from the date specified for funding in the Notice of Borrowing or the schedule in paragraph 1.1 above to cure its default. 6.3 7.3 Default by Lender which remains uncured after the three (3) 3 calendar day period mentioned above, shall result in penalties of $1,000 per day (or partial day) which shall accrue until such Lender default is cured.