Common use of Liquidity Facility Drawings Clause in Contracts

Liquidity Facility Drawings. If the Administrative Agent determines in accordance with Section 3.06(f) hereof that after making all withdrawals (after any withdrawals from the Liquidity Facility Reserve Account) and transfers to be made with respect to the applicable Payment Date, there is (w) a PMREA Shortfall, (x) a Required Expenses Shortfall, (y) a Senior Hedge Payments Shortfall and/or (z) a Liquidity Facility Interest Shortfall, in each case as calculated in Section 3.06(f) hereof, the Administrative Agent shall so notify the Facility Agent in writing and shall, no later than 1:00 p.m. (New York City time) three Business Days prior to such Payment Date, request a drawing (each such drawing, a “Liquidity Facility Drawing”) under the Liquidity Facility, to be paid on or prior to such Payment Date, in an amount equal to the lesser of (a) the aggregate amount of the shortfall from clauses (w), (x), (y) and (z) above and (b) the Available Amount under the Liquidity Facility.