General Provisions Regarding Funding Sample Clauses

General Provisions Regarding Funding. Subject to the terms and conditions set forth in this Agreement, at any time and from time to time, each Participant shall transfer funds to Agent in an amount equal to such Participant's Percentage Interest in any Loan approved by the Loan Committee or to cover a default by another Participant with respect to funding a Loan; provided, however, that no Participant shall be required to transfer such funds to Agent if, in so transferring such funds, such Participant would have outstanding under this Agreement an amount exceeding the sum of its respective Commitment plus any additional amount required to cover Agent's expenses, in its administration of a defaulted Loan. In no event shall any Participant be required to exceed its legal lending limit. It is understood that all FIHPO participant banks are regulated financial institutions. As such, they must comply with a myriad of laws and regulations. No FIHOP participant bank shall be required to participate in any loan if it believes, in its judgment, that it would result in a violation of any regulation or requirement of the law; provided that such written objection is provided to all of the Participants at least ten (10) Banking Days prior to the Closing Date for that particular Loan.
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