Funding Interruption Event Sample Clauses
A Funding Interruption Event clause defines circumstances under which the provision or continuation of funding may be temporarily halted or suspended. This clause typically outlines specific events—such as regulatory changes, force majeure incidents, or breaches of agreement—that trigger the interruption, and may specify the procedures for notification and resumption of funding. Its core practical function is to protect the interests of the funding party by allowing them to pause financial commitments when unforeseen or uncontrollable events occur, thereby managing risk and ensuring contractual flexibility.
Funding Interruption Event. The occurrence of an event which with the giving of notice or the passage of time, or both, would constitute a Facility Early Amortization Event. GAAP: U.S. generally accepted accounting principles that are (i) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its successors, as in effect from time to time, and (ii) applied consistently with principles applied to past financial statements of Nationstar and its subsidiaries; provided that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principles) that such principles have been properly applied in preparing such financial statements.
Funding Interruption Event. The occurrence of an event which with the giving of notice or the passage of time, or both, would constitute a Facility Early Amortization Event or an Event of Default. GAAP: U.S. generally accepted accounting principles that are (i) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its successors, as in effect from time to time, and (ii) applied consistently with principles applied to past financial statements of HLSS and its subsidiaries; provided, that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principles) that such principles have been properly applied in preparing such financial statements.
Funding Interruption Event. The occurrence of an event which with the giving of notice or the passage of time, or both, would constitute an Event of Default, whether or not the Indenture Trustee, the Administrative Agent and/or any Noteholders have provided notice sufficient to cause the Full Amortization Period to commence as a result of such event. GAAP: U.S. generally accepted accounting principles that are (i) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its successors, as in effect from time to time, and (ii) applied consistently with principles applied to past financial statements of OLS, HLSS and their respective subsidiaries; provided that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principles) that such principles have been properly applied in preparing such financial statements.