Common use of Funding Agent’s Failure to Notify Clause in Contracts

Funding Agent’s Failure to Notify. With respect to any Funding Agent that shall have failed to notify HVF II and the Group II Administrator of the applicable CP Rate for the Advances made by its Investor Group for the related Series 2013-B Interest Period by 11:00 a.m. (New York City time) on any Determination Date in accordance with Section 3.1(b)(i), on the first Payment Date occurring after the date on which such Funding Agent provides such notice previously not provided in accordance with Section 3.1(b)(i) (or, if such notice is provided on any date occurring after a Determination Date and prior to the Payment Date immediately following such Determination Date, then the second Payment Date occurring after the date on which such Funding Agent provides such notice previously not provided), such Funding Agent shall pay to or at the direction of HVF II an amount equal to the excess, if any, of the amount actually paid by HVF II to or for the benefit of the Series 2013-B Noteholders in such Funding Agent’s Investor Group as a result of the reversion to the CP Fallback Rate in accordance with the definition of CP Rate over the amount that should have been paid by HVF II to or for the benefit of the Series 2013-B Noteholders in such Funding Agent’s Investor Group had all of the relevant information for the relevant Series 2013-B Interest Period been provided by such Funding Agent to HVF II on a timely basis.

Funding Agent’s Failure to Notify. With respect to any Funding Agent that shall have failed to notify HVF II and the Group II I Administrator of the applicable CP Rate for the Advances made by its Investor Group for the related Series 2013-B A Interest Period by 11:00 a.m. (New York City time) on any Determination Date in accordance with Section 3.1(b)(i), on the first Payment Date occurring after the date on which such Funding Agent provides such notice previously not provided in accordance with Section 3.1(b)(i) (or, if such notice is provided on any date occurring after a Determination Date and prior to the Payment Date immediately following such Determination Date, then the second Payment Date occurring after the date on which such Funding Agent provides such notice previously not provided), such Funding Agent shall pay to or at the direction of HVF II an amount equal to the excess, if any, of the amount actually paid by HVF II to or for the benefit of the Series 2013-B A Noteholders in such Funding Agent’s Investor Group as a result of the reversion to the CP Fallback Rate in accordance with the definition of CP Rate over the amount that should have been paid by HVF II to or for the benefit of the Series 2013-B A Noteholders in such Funding Agent’s Investor Group had all of the relevant information for the relevant Series 2013-B A Interest Period been provided by such Funding Agent to HVF II on a timely basis.

Funding Agent’s Failure to Notify. With respect to any Funding Agent that shall have failed to notify HVF II and the Group II I Administrator of the applicable CP Rate for the Advances made by its Investor Group for the related Series 20132014-B A Interest Period by 11:00 a.m. (New York City time) on any Determination Date in accordance with Section 3.1(b)(i), on the first Payment Date occurring after the date on which such Funding Agent provides such notice previously not provided in accordance with Section 3.1(b)(i) (or, if such notice is provided on any date occurring after a Determination Date and prior to the Payment Date immediately following such Determination Date, then the second Payment Date occurring after the date on which such Funding Agent provides such notice previously not provided), such Funding Agent shall pay to or at the direction of HVF II an amount equal to the excess, if any, of the amount actually paid by HVF II to or for the benefit of the Series 20132014-B A Noteholders in such Funding Agent’s Investor Group as a result of the reversion to the CP Fallback Rate in accordance with the definition of CP Rate over the amount that should have been paid by HVF II to or for the benefit of the Series 20132014-B A Noteholders in such Funding Agent’s Investor Group had all of the relevant information for the relevant Series 20132014-B A Interest Period been provided by such Funding Agent to HVF II on a timely basis.