Common use of Funding of Revolving Advances Clause in Contracts

Funding of Revolving Advances. (i) Subject to Swing Loan Lender’s option to fund all or any portion of any Revolving Advance as a Swing Loan under Section 2.4, promptly after receipt by Agent of a request for a Revolving Advance pursuant to Section 2.2(a), Agent shall notify Revolving Lenders of its receipt of such request specifying the information provided by Borrowing Agent and the apportionment among Revolving Lenders of the requested Revolving Advance as determined by Agent. Each Revolving Lender shall remit the principal amount of each Revolving Advance to Agent such that Agent is able to, and Agent shall, to the extent Revolving Lenders have made funds available to it for such purpose and subject to Section 8.2, fund such Revolving Advance to Borrower in U.S. Dollars and immediately available funds in accordance with Section 2.3 prior to 1:00 p.m., on the applicable borrowing date; provided that if any Revolving Lender fails to remit such funds to Agent in a timely manner, Agent may elect in its sole discretion to fund with its own funds the Revolving Advance of such Revolving Lender on such borrowing date, and such Lender shall be subject to the repayment obligation in Section 2.20(c)(ii).

Funding of Revolving Advances. (i) Subject to Swing Loan Lender’s option to fund all or any portion of any Revolving Advance as a Swing Loan under Section 2.4, promptly Promptly after receipt by Agent of a request for a Revolving Advance pursuant to Section 2.2(a2.2(b), Agent shall notify Revolving Lenders of its receipt of such request specifying the information provided by Borrowing Agent and the apportionment among Revolving Lenders of the requested Revolving Advance as determined by Agent. Each Revolving Lender shall remit the principal amount of each Revolving Advance to Agent such that Agent is able to, and Agent shall, to the extent Revolving Lenders have made funds available to it for such purpose and subject to Section 8.2, fund such Revolving Advance to Borrower in U.S. Dollars and immediately available funds in accordance with Section 2.3 prior to 1:00 p.m., on the applicable borrowing date; provided that if any Revolving Lender fails to remit such funds to Agent in a timely manner, Agent may elect in its sole discretion (but shall not be obligated) to fund with its own funds the Revolving Advance of such Revolving Lender Lender, as applicable, on such borrowing date, and such Lender shall be subject to the repayment obligation in Section 2.20(c)(ii).