Common use of Funding of Competitive Bid Loans Clause in Contracts

Funding of Competitive Bid Loans. Any Lender whose offer to make any Competitive Bid Loan has been accepted shall, not later than 11:00 a.m., Los Angeles time, on the date specified in the related Competitive Bid Loan Quote Request for the making of such Competitive Bid Loan, make the amount of such Competitive Bid Loan available to the Borrower at the Administrative Agent's Office in immediately available funds. If any Lender makes a new Competitive Bid Loan hereunder on a day on which the Borrower is to repay all or any part of an outstanding Competitive Bid Loan from such Lender, such Lender shall apply the proceeds of its new Competitive Bid Loan to make such repayment and only an amount equal to the difference (if any) between the amount being borrowed and the amount being repaid shall be made available by such Lender to the Borrower as provided by this Section 2.03(i), or remitted by the Borrower to the Administrative Agent as provided in Section 2.14 hereof, as the case may be.

Funding of Competitive Bid Loans. Any Lender whose offer to make any Competitive Bid Loan has been accepted shall, not later than 11:00 a.m., Los Angeles time, on the date specified in the related 21 30 Competitive Bid Loan Quote Request for the making of such Competitive Bid Loan, make the amount of such Competitive Bid Loan available to the Borrower at the Administrative Agent's Office in immediately available funds. If any Lender makes a new Competitive Bid Loan hereunder on a day on which the Borrower is to repay all or any part of an outstanding Competitive Bid Loan from such Lender, such Lender shall apply the proceeds of its new Competitive Bid Loan to make such repayment and only an amount equal to the difference (if any) between the amount being borrowed and the amount being repaid shall be made available by such Lender to the Borrower as provided by this Section 2.03(i), or remitted by the Borrower to the Administrative Agent as provided in Section 2.14 hereof, as the case may be.

Funding of Competitive Bid Loans. Any Lender whose offer to make any Competitive Bid Loan has been accepted shall, not later than 11:00 a.m., Los Angeles time, on the date specified in the related Competitive Bid Loan Quote Request for the making of such Competitive Bid Loan, make the amount of such Competitive Bid Loan available to the applicable Borrower at the Administrative Agent's Office in immediately available funds. If any Lender makes a new Competitive Bid Loan hereunder on a day on which the applicable Borrower is to repay all or any part of an outstanding Competitive Bid Loan from such Lender, such Lender shall apply the proceeds of its new Competitive Bid Loan to make such repayment and only an amount equal to the difference (if any) between the amount being borrowed and the amount being repaid shall be made available by such Lender to the applicable Borrower as provided by this Section 2.03(i), or remitted by the applicable Borrower to the Administrative Agent as provided in Section 2.14 hereof, as the case may be.