Common use of Irrevocability of Funding Notice Clause in Contracts

Irrevocability of Funding Notice. The Note Holder or the OF Manager may, in its absolute discretion, decide to decline to provide the requested funding specified in the Funding Notice, in which case the OF Manager must notify each of the Issuer and the SF Manager in writing. Following agreement by the Note Holder and the OF Manager to the issue of the relevant Note specified in 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. -------------------------------------------------------------------------------- 5 LOAN FACILITY 5.1 PROVISION OF FUNDING PORTIONS If the SF Manager gives a Funding Notice in accordance with clause 4 and the OF Manager and the Note Holder agree to the issue of the specified Note, then, subject to this agreement (including, without limitation, clause 10), the Note Holder must, and the OF Manager must cause the Note Holder to, provide the relevant Funding Portion under the Facility as payment for the relevant Note in Same Day Funds in Dollars not later than 12 noon (Melbourne time) on the specified Funding Date and in accordance with that Funding Notice.

Irrevocability of Funding Notice. The Note Holder or the OF Manager may, in its absolute discretion, decide to decline to provide the requested funding specified in the Funding Notice, in which case the OF Manager must notify each of the Issuer and the SF Manager in writing. Following agreement by the Note Holder and the OF Manager to the issue of the relevant Note specified in 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. Payment Funding Facility Agreement - SMHL Global Fund No. 7 -------------------------------------------------------------------------------- 5 LOAN FACILITY 5.1 PROVISION OF FUNDING PORTIONS If the SF Manager gives a Funding Notice in accordance with clause 4 and the OF Manager and the Note Holder agree to the issue of the specified Note, then, subject to this agreement (including, without limitation, clause 10), the Note Holder must, and the OF Manager must cause the Note Holder to, provide the relevant Funding Portion under the Facility as payment for the relevant Note in Same Day Funds in Dollars not later than 12 noon (Melbourne time) on the specified Funding Date and in accordance with that Funding Notice.

Irrevocability of Funding Notice. The Note Holder or the OF Manager may, in its absolute discretion, decide to decline to provide the requested funding specified in the Funding Notice, in which case the OF Manager must notify each of the Issuer and the SF Manager in writing. Following agreement by the Note Holder and the OF Manager to the issue of the relevant Note specified in 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. -------------------------------------------------------------------------------- PAGE 10 Payment Funding Facility -------------------------------------------------------------------------------- 5 LOAN FACILITY 5.1 PROVISION OF FUNDING PORTIONS If the SF Manager gives a Funding Notice in accordance with clause 4 and the OF Manager and the Note Holder agree to the issue of the specified Note, then, subject to this agreement (including, without limitation, clause 10), the Note Holder must, and the OF Manager must cause the Note Holder to, provide the relevant Funding Portion under the Facility as payment for the relevant Note in Same Day Funds in Dollars not later than 12 noon (Melbourne time) on the specified Funding Date and in accordance with that Funding Notice.