Common use of FUNDING 1 LIQUIDITY FACILITY LOANS Clause in Contracts

FUNDING 1 LIQUIDITY FACILITY LOANS. (a) If, on the Business Day immediately preceding a relevant Funding 1 Interest Payment Date, the Cash Manager determines that, on the relevant Funding 1 Interest Payment Date, a Funding 1 Liquidity Shortfall will arise, the Cash Manager will direct Funding 1 to make a Funding 1 Liquidity Facility Drawing on the Business Day immediately preceding that Funding 1 Interest Payment Date, subject to the terms of this Agreement, for all or any of the purposes set out in CLAUSE 3 (Purpose) (as appropriate) and, subject to the limits set out in CLAUSE 2.2 (Facility limits), in an amount equal to the Funding 1 Liquidity Shortfall. (b) Funding 1 (or Cash Manager on behalf of Funding 1) will serve on the Funding 1 Liquidity Facility Provider a Funding 1 Liquidity Facility Request (substantially in the form set out in SCHEDULE 3 to this Agreement) for each Funding 1 Liquidity Facility Drawing, such request to be given by facsimile in accordance with CLAUSE 29 (Notices) of this Agreement to be received by the Funding 1 Liquidity Facility Provider not later than 10.00 a.m. on the Business Day immediately preceding the proposed Funding 1 Liquidity Facility Drawdown Date. (c) No Funding 1 Liquidity Facility Drawing may be made, or requested to be made, on or after the last day of the then current Funding 1 Liquidity Facility Commitment Period.