Payment of Funding Amounts. (i) Not later than 12:00 noon New York time one Business Day prior to each Funding Date, the Parent shall notify the Collateral Agent in writing whether it intends to pay the applicable Funding Amount directly (such notice, a “Funding Notice”) or whether the Collateral Agent should draw upon the Contingent Equity LC in the amount of such Funding Amount. Subject to clause (ii) below, if the Parent has elected to fund the applicable Funding Amount directly, it shall pay such Funding Amount on the applicable Funding Date to the Collateral Agent, in Dollars and in immediately available funds, for deposit into the Construction Account and as specified in this Agreement for application in accordance with the Collateral Agency Agreement. If the Parent has elected that the Collateral Agent draw upon the Contingent Equity LC (or if no Funding Notice is provided by the Parent or if no election is specified in the Funding Notice), the Collateral Agent shall draw upon the Contingent Equity LC in the amount Equity Contribution Agreement of such Funding Amount on the applicable Funding Date and shall deposit the proceeds of such draw (or draws) into the Construction Account for application in accordance with the Collateral Agency Agreement.
Payment of Funding Amounts. (i) Prior to each Funding Date, each Member shall notify the Administrative Agent by notice in the form of Exhibit C attached hereto (such notice, a “Funding Notice”) (A) whether it intends to fund its Funding Amount directly in cash, (B) in the case of a Member that has funded, or caused to be funded, a Construction Equity Account, whether it will request to apply funds standing to the credit of such account, in which case the Borrower will instruct the Administrative Agent, who shall direct the Depositary Bank, to transfer amounts from such Construction Equity Account on the Funding Date in the amount of such Funding Amount or (C) in the case of a Member that has posted one or more Equity Letters of Credit pursuant to Section 2.01(f), whether it will request to apply proceeds of one or more draws on such Equity Letters of Credit, in which case the Collateral Agent (acting at the written direction of the Administrative Agent) shall draw upon any or all such Equity Letters of Credit in the amount of such Funding Amount and to deposit such amounts into the Construction Account. In the case described in clauses (A) and (B) above, a Member shall deliver a Funding Notice to the Administrative Agent not later than 12:00 noon New York time one Business Day prior to the applicable Funding Date. In the case described in clause (C) above, a Member shall deliver a Funding Notice to the Administrative Agent not later than 12:00 noon New York time four Business Days prior to the applicable Funding Date. Each Member that has elected (or is deemed to have elected) to fund its Funding Amount directly in cash shall pay its respective Funding Amount on the Funding Date in Dollars and in immediately available funds to the Construction Account for application in accordance with the Depositary Agreement or, in the event of an Accelerated Contribution Date, as directed by the Administrative Agent acting at the direction of the Required Lenders. If any Member has elected (or is deemed to have elected) to fund its Funding Amount by transferring amounts from a Construction Equity Account funded by such Member, such Member shall instruct the Borrower to direct the Administrative Agent, who shall direct the Depositary Bank to transfer from such Construction Equity Account the respective Funding Amount of such Member on the Funding Date to the Construction Account for application in accordance with the Depositary Agreement or, in the event of an Accelerated Contribution Date, as dir...
Payment of Funding Amounts. (i) Subject to its receipt of a duly executed Funding Certification from the Administrator pursuant to Section 4.3(a) stating that all Funding Conditions have been satisfied, and approval by the Administrative Agent in its sole discretion, the Indenture Trustee shall remit to the Issuer (or the Issuer’s designee), by the close of business New York City time on each Funding Date, the amount of the aggregate Funding Amount on such Funding Date without causing the related VFN Principal Balance to exceed either (I) the related Maximum VFN Principal Balance or (II) the amount that would cause a Borrowing Base Deficiency with respect to such VFN.
Payment of Funding Amounts. (i) Subject to its receipt of a duly executed Funding Certification from the Administrator pursuant to Section 4.3(a) stating that all Funding Conditions have been satisfied, the Indenture Trustee shall remit to the Issuer (or the Issuer’s designee), by the close of business New York City time on each Funding Date, the amount of the aggregate Funding Amount on such Funding Date without causing the related VFN Principal Balance to exceed either (I) the related Maximum VFN Principal Balance or (II) the amount that would cause a Borrowing Base Deficiency with respect to such VFN.
