Funding Delay Option Clause Samples

Funding Delay Option. (i) Any Designated Delay Funding Lender (or its related Lender Group Agent) may, after the Borrower delivers a Funding Request pursuant to Section 2.01(b) deliver a written notice (a “Delayed Funding Notice”, and the date of such delivery, the “Delayed Funding Notice Date”) not later than 1:00 P.M., New York City time, on the same day as the Borrower’s delivery of such Funding Notice. Each Delayed Funding Notice shall be delivered to the Borrower, with copies to the Servicer, the Administrative Agent and the Lender Group Agents for all other Lender Groups. Each Delayed Funding Notice shall indicate (A) the portion of the related Designated Delay Funding Lender’s share of the Principal Amount of the requested Loan set forth in such Funding Notice which will be subject to delayed funding (such amount, the “Designated Delayed Funding Amount”), (B) such Designated Delay Funding Lender’s Required Non-Delayed Funding Amount as of the proposed Funding Date and (C) if such Designated Delayed Funding Amount is greater than such Required Non-Delayed Funding Amount, specifying the portion, if any, of such excess (the “Delayed Amount” with respect to such Designated Delay Funding Lender and the related Funding Date) that it is electing to fund on a date (the date of such funding, the “Delayed Funding Date”) that is on or before the thirty-fifth (35th) day (or if such day is not a Business Day, then on the next succeeding Business Day) following the date of such Funding Notice rather than on the proposed Funding Date. A Designated Delay Funding Lender that delivers a Delayed Funding Notice specifying a Delayed Amount with respect to any Funding Date shall be referred to herein as a “Delaying Lender” with respect to such Funding Date, and any Lender Group containing a Delaying Lender shall be referred to as a “Delaying Lender Group” with respect to such Funding Date. By delivery of a Delayed Funding Notice, a Designated Delay Funding Lender shall be deemed to represent and warrant that the certifications previously provided to FCA by such Designated Delay Funding Lender (or its related Lender Group Agent) are true as of the Delayed Funding Notice Date. (ii) If there are one or more Delaying Lenders or Delaying Lender Groups with respect to a Funding Date, the Servicer on behalf of the Borrower may, by no later than 3:00 P.M., New York City time, on the Business Day preceding such Funding Date, request each Committed Lender that is not a Delaying Lender with respect to s...