Funding Termination Event Clause Samples
A Funding Termination Event clause defines the circumstances under which a party’s obligation to provide funding under an agreement may be suspended or terminated. Typically, this clause outlines specific events—such as a breach of contract, insolvency, or failure to meet agreed milestones—that trigger the right to halt or end funding. Its core practical function is to protect the funding party from undue risk by allowing them to cease financial support if certain adverse conditions arise, thereby ensuring prudent management of financial commitments.
Funding Termination Event. If any Funding Termination Event shall occur and be continuing, (a) if such event is a Funding Termination Event specified in clause (i) or (ii) of paragraph (d) of the definition thereof or paragraphs (d) and (e) of the definition of Event of Default, the Commitment of each Bank Purchaser shall automatically be reduced to zero, and (b) if such event is any other Funding Termination Event, with the consent of the Required Purchasers, the Funding Agents may, or upon the request of the Required Purchasers, the Funding Agents shall, by notice to the Issuer, reduce the Commitments of each Bank Purchaser to zero, whereupon the Commitments shall immediately be reduced to zero.
Funding Termination Event. If any Funding Termination Event shall have occurred and be continuing, Assignee may exercise any rights and remedies available to it, including, without limitation, those rights and remedies available hereunder, under any Transaction Document and/or at law or in equity. 62
Funding Termination Event. Upon the occurrence and during the continuation of a Funding Termination Event, the Purchaser may exercise any rights and remedies available to it, including, without limitation, those rights and remedies available hereunder, under any Transaction Document and/or at law or in equity.
Funding Termination Event. If the Agent has provided notice to the Issuer and each Co-Issuer that any Funding Termination Event has occurred and is continuing, the Issuer and each Co-Issuer shall make no further requests for Borrowings.
Funding Termination Event. Promptly upon CPS or the Borrower becoming aware of the occurrence of a Funding Termination Event.
Funding Termination Event. 62 ARTICLE VII TERMINATION......................................................63
Funding Termination Event. A Funding Termination Event shall not have occurred; and
Funding Termination Event. There shall not have occurred a Funding Termination Event or a Purchase Option Event.