Common use of Irrevocability of Funding Notice Clause in Contracts

Irrevocability of Funding Notice. The Note Holder and the OF Manager must not decline to provide the funding specified in a Funding Notice. Following the issue of the Funding Notice the Issuer is irrevocably committed to, and the SF Manager is irrevocably committed to cause the Issuer to, issue the relevant Note and to draw Funding Portions from the Note Holder in accordance with the Funding Notice given to the OF Manager and the Note Holder.

Irrevocability of Funding Notice. The Note Holder and the OF Manager must not decline to provide the funding specified in a Funding Drawdown Notice. Following the issue of the Funding Notice Drawdown the Issuer is irrevocably committed to, and the SF Manager is irrevocably committed to cause the Issuer to, issue the relevant Note and to draw Funding Portions from the Note Holder in accordance with the Funding Notice given to the OF Manager and the Note Holder.