Common use of Requirements for a Funding Notice Clause in Contracts

Requirements for a Funding Notice. A Funding Notice: (a) must be in writing in the form of, and specifying the matters set out in, schedule 1; (b) must be received by the Note Holder and the OF Manager at least 2 Banking Days before the proposed Funding Date (or such shorter period as the OF Manager may agree in writing); (c) must be signed by an Officer of the SF Manager and an Officer of the Issuer; (d) whether or not stated in the notice, constitutes a representation and warranty by each of the Issuer and the SF Manager that so far as it is aware (without the need to make enquiry) each representation and warranty set out in clause 7 and given by it is true, correct and not misleading as if made at the date of the Funding Notice and the Funding Date in respect of the facts and circumstances then subsisting, but if the representation and warranty constituted by this clause 4.2(d) is not correct the Funding Notice must contain a statement to that effect and must set out full details of any exceptions and the reasons and any remedial action taken or proposed. Any such statement is without prejudice to the rights of the Note Holder and OF Manager.