Common use of Special Advances Clause in Contracts

Special Advances. If a Lender fails to fund its portion of any Advance, in whole or part, within three (3) Business Days after the date required hereunder and Administrative Agent shall not have funded the Defaulting Lender's portion of the Advance under Section 3.03(b), Administrative Agent shall so notify the Lenders, and within three (3) Business Days after delivery of such notice, the Non-Defaulting Lenders shall have the right, but not the obligation, in their respective, sole and absolute discretion, to fund all or a portion of such deficiency (the amount so funded by any such Non-Defaulting Lenders being referred to herein as a "Special Advance")

Appears in 1 contract

Samples: Term Loan and Security Agreement (KBS Growth & Income REIT, Inc.)

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Special Advances. If a Lender fails to fund its portion of any AdvanceBorrowing, in whole or part, within three (3) Business Days after the date required hereunder and Administrative Agent shall not have funded the Defaulting Lender's ’s portion of the Advance Borrowing under Section 3.03(b2.2(2), Administrative Agent shall so notify the Lenders, and within three (3) Business Days after delivery of such notice, the Non-Defaulting Lenders shall have the right, but not the obligation, in their respective, sole and absolute discretion, to fund all or a portion of such deficiency (the amount so funded by any such Non-Defaulting Lenders being referred to herein as a "Special Advance")

Appears in 1 contract

Samples: Loan Agreement (Alexanders Inc)

Special Advances. If a Lender fails to fund its portion of any Advance, in whole or part, within three (3) Business Days after the date required hereunder and Administrative Agent shall has not have funded the Defaulting Lender's portion of the Advance under Section 3.03(b4.1(c), Administrative Agent shall will so notify the Lenders, and within three (3) Business Days after delivery of such notice, the Non-Lenders (other than any Defaulting Lenders shall Lender) will have the right, but not the obligation, in their respective, sole and absolute discretion, to fund all or a portion of such deficiency (the amount so funded by any such Non-Defaulting Lenders being referred to herein as a "Special Advance")

Appears in 1 contract

Samples: Revolving and Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)

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Special Advances. If a Defaulting Lender fails to fund its portion of any Advance, in whole or part, within three (3) Business Days after the date required hereunder and Administrative Agent shall not have funded the Defaulting Lender's portion of the Advance under Section 3.03(b2.3(b), Administrative Agent shall so notify the Lenders, and within three (3) Business Days after delivery of such notice, the Nonnon-Defaulting Lenders shall have the right, but not the obligation, in their respective, sole and absolute discretion, to fund all or a portion of such deficiency (the amount so funded by any such Nonnon-Defaulting Lenders being referred to herein as a "Special Advance")

Appears in 1 contract

Samples: Credit Agreement (Cole Credit Property Trust Iv, Inc.)

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