Common use of Special Provisions for Delayed Fundings Clause in Contracts

Special Provisions for Delayed Fundings. (i) At any time, five Business Days after receipt by the Administrative Agent and the Servicer of a Delayed Funding Certificate from a Lender Agent, the related Liquidity Bank or Institutional Lender holding a Commitment shall be deemed a “Delayed Funding Lender” and its related Lender Group shall be deemed a “Delayed Funding Lender Group”. Such designation shall remain in effect until such time as the related Delayed Funding Lender Agent issues a written notice to the Administrative Agent and the Servicer withdrawing such designation (a “Delayed Funding De-Designation Notice”) which notice shall be effective as of the date of such notice or as of such later date specified therein (the “Delayed Funding De-Designation Date”). Effective as of the Delayed Funding De-Designation Date, each Committed Lender that is a Delayed Funding Lender, and each related Lender Group that is a Delayed Funding Lender Group, shall cease to be a Delayed Funding Lender or a Delayed Funding Lender Group, as applicable and shall, for all purposes other than pursuant to the proviso hereto, be deemed to be a Conforming Lender and a Conforming Lender Group, as applicable; provided that in connection with any Advance outstanding as of the Delayed Funding De-Designation Date for which any Delayed Funding Lender has not, as of such date, paid its Delayed Funding Amounts, such Delayed Funding De-Designation Date shall be deemed to be the Delayed Funding Settlement Date for such Advance and such Delayed Funding Lender shall comply with its obligations pursuant to Section 2.02(g)(ii) and Section 2.02(g)(iii) for such Delayed Funding Settlement Date. The Servicer and the Borrower hereby acknowledge and agree that delivery of a Delayed Funding De-Designation Notice may give rise to liability for increased costs and expenses under Section 2.10 and the reimbursement or compensation of such increased costs and expenses shall be governed by the terms of Section 2.10.