Funding by Participants Sample Clauses

Funding by Participants. NAI acknowledges that, as provided in the Participation Agreement, each Participant has agreed to pay to BNPLC a Percentage (under and as defined in the Participation Agreement) of the Construction Advances required by this Agreement. NAI also acknowledges that BNPLC will not be responsible to NAI for any failure of any Participant to provide advances required by the Participation Agreement. So long as any Participant fails to provide its Percentage of any requested Construction Advance, then the amount of the Construction Advance for which BNPLC shall be obligated hereunder shall be reduced by the amount that the Participant should have provided, but failed to provide, in accordance with the Participation Agreement. No such reduction, however, of BNPLC's obligation hereunder shall release or impair the obligation of the Participant directly to NAI, created by NAI's status as a third party beneficiary of the Participant's commitment under the Participation Agreement to provide the Participant's Percentage of Construction Advances. Further, any such failure shall excuse BNPLC's obligation to provide the requested Construction Advance only to the extent of the funds that the applicable Participant or Participants should have advanced (but did not advance) to BNPLC, and in the event of any such failure: (1) BNPLC will immediately notify NAI, but BNPLC will not in any event be liable to NAI for BNPLC's failure to do so. (2) BNPLC will to the extent possible postpone reductions of Construction Advances because of the failure by any one or more Participants ("DEFAULTING PARTICIPANTS") to make required advances under the Participation Agreement (a "PARTICIPANT DEFAULT") by adjusting (and readjusting from time to time, as required) the funding "Percentages" of other Participants, and by requesting the other Participants to make advances to BNPLC on the basis of such adjusted Percentages, in each case as provided in the Participation Agreement; however, so long as a Participant Default continues, no Construction Advance shall be required that would cause the Outstanding Construction Allowance to exceed (1) the Maximum Construction Allowance available under this Agreement, less (2) all amounts that should have been, but because of a continuing Participant Default have not been, advanced by any one or more of the Participants to BNPLC under the Participation Agreement with respect to Construction Advances. (3) Further, after a Participant Default, and so long as no C...
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Funding by Participants. Subparagraph 6(c)(x) of the Lease is deleted and in lieu thereof is substituted the following:
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Funding by Participants. NONE OF THE PARTICIPANTS OR THEIR SUCCESSORS UNDER THE PARTICIPATION AGREEMENT SHALL HAVE FAILED TO ADVANCE TO BNPLC THEIR PRO RATA SHARES OF THE CONSTRUCTION ADVANCE BEING REQUESTED. HOWEVER, ANY SUCH FAILURE SHALL EXCUSE BNPLC'S OBLIGATION TO PROVIDE THE CONSTRUCTION ADVANCE REQUESTED ONLY TO THE EXTENT OF THE FUNDS THAT THE APPLICABLE PARTICIPANT OR PARTICIPANTS SHOULD HAVE ADVANCED (BUT DID NOT ADVANCE) TO BNPLC, AND IN THE EVENT OF ANY SUCH FAILURE: a) BNPLC WILL IMMEDIATELY NOTIFY ELECTROGLAS IF ANY PARTICIPANT REFUSES OR FAILS TO ADVANCE ITS PRO RATA SHARE OF ANY CONSTRUCTION ADVANCE, BUT BNPLC WILL NOT IN ANY EVENT BE LIABLE TO ELECTROGLAS FOR BNPLC'S FAILURE TO DO SO. b) BNPLC WILL, TO THE EXTENT POSSIBLE, POSTPONE REDUCTIONS OF CONSTRUCTION ADVANCES BECAUSE OF THE FAILURE BY ANY ONE OR MORE PARTICIPANTS ("NONFUNDING PARTICIPANTS") TO MAKE REQUIRED ADVANCES UNDER THE PARTICIPATION AGREEMENT (A "PARTICIPANT DEFAULT") BY ADJUSTING (AND READJUSTING FROM TIME TO TIME, AS REQUIRED) THE FUNDING "PERCENTAGES" OF OTHER PARTICIPANTS, AND BY REQUESTING THE OTHER PARTICIPANTS TO MAKE ADVANCES TO BNPLC ON THE BASIS OF SUCH ADJUSTED PERCENTAGES, IN EACH CASE AS PROVIDED IN THE PARTICIPATION AGREEMENT; HOWEVER, SO LONG AS A PARTICIPANT DEFAULT CONTINUES, NO CONSTRUCTION ADVANCE SHALL BE REQUIRED THAT WOULD CAUSE THE OUTSTANDING CONSTRUCTION ALLOWANCE TO EXCEED (1) THE MAXIMUM CONSTRUCTION ALLOWANCE AVAILABLE UNDER THIS LEASE, LESS (2) ALL AMOUNTS THAT SHOULD HAVE BEEN, BUT BECAUSE OF A CONTINUING PARTICIPANT DEFAULT HAVE NOT BEEN, ADVANCED BY ANY ONE OR MORE OF THE PARTICIPANTS TO BNPLC UNDER THE PARTICIPATION AGREEMENT WITH RESPECT TO CONSTRUCTION ADVANCES. c) FURTHER, AFTER A PARTICIPANT DEFAULT, AND SO LONG AS NO EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING, BNPLC SHALL DO THE FOLLOWING AS REASONABLY REQUESTED BY
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Funding by Participants. None of the Participants or their successors under the Participation Agreement shall have failed to advance to BNPLC their pro rata shares of the Construction Advance being requested. However, any such failure shall excuse BNPLC's obligation to provide the Construction Advance requested only to the extent of the funds that the applicable Participant or Participants should have advanced (but did not advance) to BNPLC, and in the event of any such failure: a) BNPLC will immediately notify Solectron if any Participant refuses or fails to advance its pro rata share of any Construction Advance, but BNPLC will not in any event be liable to Solectron for BNPLC's failure to do so. b) BNPLC will, to the extent possible, postpone reductions of Construction Advances because of the failure by any one or more Participants ("NONFUNDING PARTICIPANTS") to make required advances under the Participation Agreement (a "PARTICIPANT DEFAULT") by adjusting (and readjusting from time to time, as required) the funding "Percentages" of other Participants, and by requesting the other Participants to make advances to BNPLC on the basis of such adjusted Percentages, in each case as provided in the Participation Agreement; however, so long as a Participant Default continues, no Construction Advance shall be required that would cause the
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Funding by Participants. Any condition set forth in the Construction Funding Agreement concerning funding by Participants shall have been satisfied.
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Related to Funding by Participants

  • Repayment of Participations (i) At any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Applicable Percentage of such payment (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. (ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing Line Lender its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate. The Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement.

  • Rights of Participants Any participant in a Lender's interests hereunder may assert any claim for yield protection under Section 4.03 that it could have asserted if it were a Lender hereunder. If such a claim is asserted by any such participant, it shall be entitled to receive such compensation from the Borrower as a Lender would receive in like circumstances; provided, however, that with respect to any such claim, the Borrower shall have no greater liability to the Lender and its participant, in the aggregate, than it would have had to the Lender alone had no such participation interest been created.

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Participants The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Eligible Participants Families and individuals experiencing homelessness. For the purposes of the Program, families and individuals are considered to be homeless only when he/she/they lack(s) a fixed, regular and adequate nighttime residence and reside(s) in a place not meant for human habitation, such as cars, parks, sidewalks, abandoned buildings, motels, or other shelters, or for reference as further defined in 24 CFR Part 578.3 and 576.2.

  • Participant Loans Participant loans, as provided for in paragraph 13.5 of the Basic Plan Document #04, [x] are [ ] are not permitted. If permitted, repayments of principal and interest shall be repaid to [x] the Participant's segregated account or [ ] the general Fund.

  • Instructions for Certification - Lower Tier Participants (Applicable to all subcontracts, purchase orders and other lower tier transactions requiring prior FHWA approval or estimated to cost $25,000 or more - 2 CFR Parts 180 and 1200) a. By signing and submitting this proposal, the prospective lower tier is providing the certification set out below. b. The certification in this clause is a material representation of fact upon which reliance was placed when this transaction was entered into. If it is later determined that the prospective lower tier participant knowingly rendered an erroneous certification, in addition to other remedies available to the Federal Government, the department, or agency with which this transaction originated may pursue available remedies, including suspension and/or debarment. c. The prospective lower tier participant shall provide immediate written notice to the person to which this proposal is submitted if at any time the prospective lower tier participant learns that its certification was erroneous by reason of changed circumstances. d. The terms "covered transaction," "debarred," "suspended," "ineligible," "participant," "person," "principal," and "voluntarily excluded," as used in this clause, are defined in 2 CFR Parts 180 and 1200. You may contact the person to which this proposal is submitted for assistance in obtaining a copy of those regulations. “First Tier Covered Transactions” refers to any covered transaction between a grantee or subgrantee of Federal funds and a participant (such as the prime or general contract). “Lower Tier Covered Transactions” refers to any covered transaction under a First Tier Covered Transaction (such as subcontracts). “First Tier Participant” refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Purchase of Participations Immediately upon issuance of any Letter of Credit in accordance with Section 2.3(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation equal to such Lender’s Pro Rata Share of the face amount of such Letter of Credit in connection with the issuance or acceptance of such Letter of Credit (including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

  • Conditions of Participation An employee must be on payroll with the County during the entire calendar year to be eligible for incentive rewards.

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