Common use of Future Funding Advance Draws Clause in Contracts

Future Funding Advance Draws. In the event that (i) Seller agrees to make a future funding advance of loan proceeds to the borrower under a Purchased Asset pursuant to the related Purchased Asset Documents and (ii) Buyer has agreed in its sole discretion to make an additional advance with respect to the Purchase Price of such Purchased Asset as reflected in the Confirmation, then in connection with making such future funding advance to such Mortgagor, Seller may submit to Buyer a written request (a “Future Funding Advance Draw Request”) requesting that Buyer transfer to Seller cash in an amount that is not less than $250,000 (with respect to one or more future funding advances to the applicable Mortgagor, in the aggregate) but does not exceed the Margin Excess for such Purchased Asset (calculated on a pro forma basis taking into account the then effective Market Value), and Buyer shall (x) transfer to Seller the amount of cash so requested (such transfer, a “Future Funding Advance Draw”) (which shall increase the Purchase Price for such Purchased Asset) and (y) deliver to Seller a revised Confirmation reflecting the corresponding increase in the Purchase Price of such Purchased Asset and the increased principal amount outstanding under the Purchased Asset and accordingly, the increase in Market Value and such other consequential revisions as may be appropriate, in each case, by no later than 5:00 p.m. (New York City time) on the second (2nd) Business Day following the Business Day on which Buyer determines in its sole discretion, exercised in good faith, that the conditions precedent set forth below are satisfied or will be satisfied contemporaneously with such Future Funding Advance Draw (or, in Xxxxx’s sole discretion, waived):

Future Funding Advance Draws. In the event that (i) Seller agrees is contractually obligated to make a future funding advance of loan proceeds to the borrower Mortgagor under a Purchased Asset pursuant to the related Purchased Asset Documents and (ii) Buyer has agreed in its sole discretion to make an additional advance with respect to the Purchase Price of such Purchased Asset as reflected (which agreement of Buyer may be made prior to the initial Purchase Date for such Purchased Asset and set forth in the ConfirmationConfirmation therefor), then in connection with making such future funding advance to such Mortgagor, Seller may submit to Buyer a written request (a “Future Funding Advance Draw Request”) requesting that Buyer transfer to Seller cash in an amount that is not less than $250,000 (or, up to two times for each Purchased Asset, $100,000) (with respect to one or more future funding advances to the applicable Mortgagor, in the aggregate) but does not exceed the Margin Excess for such Purchased Asset (calculated on a pro forma basis taking into account the then effective Market Value)Asset, and Buyer shall (x) transfer to Seller the amount of cash so requested (such transfer, a “Future Funding Advance Draw”) (which shall increase the Purchase Price for such Purchased Asset) and (y) deliver to Seller a revised Confirmation reflecting the corresponding increase in the Purchase Price of such Purchased Asset and the increased principal amount outstanding under the Purchased Asset and accordingly, the increase in Market Value and such other consequential revisions as may be appropriate, in each case, by no later than 5:00 2:00 p.m. (New York City time) on the second (2nd) Business Day following the Business Day on which Buyer determines in its sole discretion, exercised in good faith, discretion that the conditions precedent set forth below are satisfied or will be satisfied contemporaneously with such Future Funding Advance Draw (or, in XxxxxBuyer’s sole discretion, waived):

Future Funding Advance Draws. In the event that (i) Seller agrees is contractually obligated to make a future funding advance of loan proceeds to the borrower Mortgagor under a Purchased Asset pursuant to the related Purchased Asset Documents and (ii) Buyer has agreed in its sole discretion to make an additional advance with respect to the Purchase Price of such Purchased Asset as reflected in (which approval may be given prior to the Confirmationrelated Purchase Date), then in connection with making such future funding advance to such Mortgagor, Seller may submit to Buyer a written request (a “Future Funding Advance Draw Request”) requesting that Buyer transfer to Seller cash in an amount that is not less than $250,000 (with respect to one or more future funding advances to the applicable Mortgagor, in the aggregate) but does not exceed the Margin Excess for such Purchased Asset (calculated on a pro forma basis taking into account the then effective Market Value), and Buyer shall (x) transfer to Seller the amount of cash so requested (such transfer, a “Future Funding Advance Draw”) (which shall increase the Purchase Price for such Purchased Asset) and (y) deliver to Seller a revised executed Confirmation reflecting the corresponding increase in the Purchase Price of such Purchased Asset and the increased principal amount outstanding under the Purchased Asset and accordingly, the increase in Market Value and such other consequential revisions as may be appropriate, in each case, by no later than 5:00 p.m. (New York City time) on the second (2nd) Business Day following the Business Day on which Buyer determines in its sole discretion, exercised in good faith, commercially reasonable discretion that the conditions precedent set forth below are satisfied or will be satisfied contemporaneously with such Future Funding Advance Draw (or, in XxxxxBuyer’s sole discretion, waived):

Future Funding Advance Draws. In the event that (i) Seller agrees is contractually obligated to make a future funding advance of loan proceeds to the borrower Mortgagor or Mezzanine Borrower, as applicable, under a Purchased Asset pursuant to the related Purchased Asset Documents and (ii) Buyer Purchaser has agreed in its sole discretion to make an additional advance with respect to the Purchase Price of such Purchased Asset as reflected (which agreement of Purchaser may be made prior to the initial Purchase Date for such Purchased Asset and set forth in the ConfirmationConfirmation therefor), then in connection with making such future funding advance to such MortgagorMortgagor or Mezzanine Borrower, Seller may submit to Buyer Purchaser a written request (a “Future Funding Advance Draw Request”) requesting that Buyer Purchaser transfer to Seller cash in an amount that is not less than $250,000 (with respect to one or more future funding advances to the applicable MortgagorMortgagor or Mezzanine Borrower, in the aggregate) but does not exceed the Margin Excess for such Purchased Asset (calculated on a pro forma basis taking into account the then effective Market Value)Asset, and Buyer Purchaser shall (x) transfer to Seller the amount of cash so requested (such transfer, a “Future Funding Advance Draw”) (which shall increase the Purchase Price for such Purchased Asset) and (y) deliver to Seller a revised Confirmation reflecting the corresponding increase in the Purchase Price of such Purchased Asset and the increased principal amount outstanding under the Purchased Asset and accordingly, the increase in Market Value and such other consequential revisions as may be appropriate, in each case, by no later than 5:00 p.m. (New York City time) on the second (2nd) Business Day following the Business Day on which Buyer Purchaser determines in its sole discretion, exercised in good faith, that the conditions precedent set forth below are satisfied or will be satisfied contemporaneously with such Future Funding Advance Draw (or, in XxxxxPurchaser’s sole discretion, waived):

Future Funding Advance Draws. In the event that (i) Seller agrees is contractually obligated to make a future funding advance Future Funding of loan proceeds to the borrower Mortgagor under a Purchased Asset pursuant to the related Purchased Asset Documents and (ii) Buyer has agreed agreed, in its sole discretion as of the Purchase Date for such Purchased Asset or at any time thereafter, to make an additional advance with respect to the Purchase Price of such Purchased Asset Asset, as reflected in the Confirmation, then in connection with making such future funding advance to such Mortgagor, Seller may submit to Buyer a written request (a “Future Funding Advance Draw Request”) requesting that Buyer transfer to Seller cash in an amount that is not less than $250,000 (with respect to one or more future funding advances to the applicable Mortgagor, in the aggregate) but does not exceed the Margin Excess for such Purchased Asset (calculated on a pro forma basis taking into account the then effective Market Value), and Buyer shall (x) transfer to Seller the amount of cash so requested (such transfer, a “Future Funding Advance Draw”) (which shall increase the Purchase Price for such Purchased Asset) and (y) deliver to Seller a revised Confirmation reflecting the corresponding increase in the Purchase Price of such Purchased Asset and the increased principal amount outstanding under the Purchased Asset and accordingly, the increase in Market Value and such other consequential revisions as may be appropriatereasonably necessary to reflect the provisions of this Agreement applicable as of such date, in each case, by no later than 5:00 2:00 p.m. (New York City time) on the second (2nd) Business Day following the Business Day on which Buyer determines in its sole discretion, exercised in good faith, reasonable discretion that the conditions precedent set forth below are satisfied or will be satisfied contemporaneously with such Future Funding Advance Draw (or, in Xxxxx’s sole discretion, waived):

Future Funding Advance Draws. In the event that (i) a Seller agrees Counterparty is contractually obligated to make a future funding advance of loan proceeds to the borrower Mortgagor or Mezzanine Borrower, as applicable, under a Purchased Asset or Contributed Swingline Loan pursuant to the related Purchased Asset Documents or Contributed Swingline Loan Documents, respectively, and (ii) Buyer Purchaser has agreed in its sole discretion to make an additional advance with respect to the Purchase Price or Swingline Advance Amount of such Purchased Asset as reflected or Contributed Swingline Loan (which agreement of Purchaser may be made prior to the initial Purchase Date for such Purchased Asset or Contributed Swingline Loan and set forth in the ConfirmationConfirmation therefor), then in connection with making such future funding advance to such MortgagorMortgagor or Mezzanine Borrower, each Seller Counterparty may submit to Buyer Purchaser a written request (a “Future Funding Advance Draw Request”) requesting that Buyer Purchaser transfer to Seller Counterparties cash in an amount that is not less than $250,000 (with respect to one or more future funding advances to the applicable MortgagorMortgagor or Mezzanine Borrower, in the aggregate) but does not exceed the Margin Excess for such Purchased Asset (calculated on a pro forma basis taking into account the then effective Market Value)or Contributed Swingline Loan, and Buyer Purchaser shall (x) transfer to Seller Counterparties the amount of cash so requested (such transfer, a “Future Funding Advance Draw”) (which shall increase the Purchase Price or Swingline Advance Amount, as applicable, for such Purchased AssetAsset or Contributed Swingline Loan) and (y) deliver to Seller Counterparties a revised Confirmation reflecting the corresponding increase in the Purchase Price or Swingline Advance Amount of such Purchased Asset or Contributed Swingline Loan and the increased principal amount outstanding under the Purchased Asset or Contributed Swingline Loan and accordingly, the increase in Market Value and such other consequential revisions as may be appropriate, in each case, by no later than 5:00 p.m. (New York City time) on the second (2nd) Business Day following the Business Day on which Buyer Purchaser determines in its sole discretion, exercised in good faith, that the conditions precedent set forth below are satisfied or will be satisfied contemporaneously with such Future Funding Advance Draw (or, in XxxxxPurchaser’s sole discretion, waived):

Future Funding Advance Draws. In the event that (i) Seller agrees to make a future funding advance of loan proceeds to the borrower under a Purchased Asset pursuant to the related Purchased Asset Documents and (ii) Buyer has agreed in its sole discretion to make an additional advance with respect to the Purchase Price of such Purchased Asset as reflected in the Confirmation, then in connection with making such future funding advance to such Mortgagor, Seller may submit to Buyer a written request (a “Future Funding Advance Draw Request”) requesting that Buyer transfer to Seller cash in an amount that is not less than $250,000 (with respect to one or more future funding advances to the applicable Mortgagor, in the aggregate) but does not exceed the Margin Excess for such Purchased Asset (calculated on a pro forma basis taking into account the then effective Market Value), and Buyer shall (x) transfer to Seller the amount of cash so requested (such transfer, a “Future Funding Advance Draw”) (which shall increase the Purchase Price for such Purchased Asset) and (y) deliver to Seller a revised Confirmation reflecting the corresponding increase in the Purchase Price of such Purchased Asset and the increased principal amount outstanding under the Purchased Asset and accordingly, the increase in Market Value and such other consequential revisions as may be appropriate, in each case, by no later than 5:00 p.m. (New York City time) on the second (2nd) Business Day following the Business Day on which Buyer determines in its sole discretion, exercised in good faith, that the conditions precedent set forth below are satisfied or will be satisfied contemporaneously with such Future Funding Advance Draw (or, in XxxxxBuyer’s sole discretion, waived):