The Variable Funding Notes Clause Samples
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The Variable Funding Notes. (a) On the terms and conditions hereinafter set forth, the Borrower shall deliver (i) on the Closing Date, to each Lender at the applicable address set forth on Annex A to this Agreement, and (ii) on the effective date of any Joinder Supplement, to each additional Lender, at the address set forth in the applicable Joinder Supplement, a duly executed variable funding note in substantially the form of Exhibit B (each a “Variable Funding Note” or “VFN”), dated as of the date of this Agreement or the effective date of the applicable Joinder Supplement, each in a maximum principal amount equal to the Commitment of the applicable Committed Lender in the Related Group as of the Closing Date or the effective date of any Joinder Supplement, as applicable, and otherwise duly completed. Each Variable Funding Note shall evidence obligations in an amount equal, at any time, to the outstanding Advances by such Lender under the applicable VFN on such day.
(b) During the Reinvestment Period, the Borrower may, at its option, request the Lenders to make advances of funds (each, an “Advance”) under the VFNs pursuant to a Funding Notice; provided, however, that no more than ten (10) Advances may be made in any one calendar month and no more than three (3) Advances may be made in any one calendar week; and provided, further, that no Lender shall be obligated to make any Advance on or after the date that is three (3) Business Days prior to the Reinvestment Period End Date.
(c) Following the receipt of a Funding Notice during the Reinvestment Period and subject to the terms and conditions hereinafter set forth, each Conduit Lender may, and to the extent any Conduit Lender declines to fund, each Committed Lender in its Related Group shall, severally and not jointly, fund its Pro Rata Share of such Advance. Notwithstanding anything to the contrary herein, no Lender shall make any Advance if, after giving effect to such Advance and the addition to the Collateral of the Eligible Loans to be acquired by the Borrower with the proceeds of such Advance, (i) in the sole discretion of any such Lender, a Default or Event of Default would or could reasonably be expected to result therefrom or (ii) the aggregate Advances Outstanding would exceed the Borrowing Base.
(d) (i) If the Administrative Agent notifies a Lender, Collateral Agent, Secured Party or other recipient that the Administrative Agent has determined in its sole discretion that any funds received by such recipient from the Admin...
The Variable Funding Notes. (a) On the terms and conditions hereinafter set forth, Seller shall deliver a duly executed variable funding note (each such note, a “Variable Funding Note” or “VFN”), in substantially the form of Exhibit B-1 or B-2, as applicable, (i) on the Closing Date, to each Purchaser Agent at its address set forth on the signature pages of this Agreement, and (ii) on each date on which an Additional Purchaser purchases a Variable Funding Note, to the related Additional Agent at the address designated by such Additional Agent. Each Variable Funding Note shall evidence each Purchaser’s ratable share of the security interest in the Collateral granted pursuant to Section 9.1. Interest shall accrue, and each VFN shall be payable, as described herein. The VFN purchased by (1)(A) WBNA shall be in the name of “Wachovia Capital Markets, LLC, as the WBNA Agent” and shall be in the face amount equal to $326,000,000 and otherwise duly completed, (B) Fairway, shall be in the name of “BMO Capital Markets Corp., as the Fairway Agent” and shall be in the face amount equal to $101,875,000 and otherwise duly completed, (C) JPMorgan, shall be in the name of “JPMorgan Chase Bank, National Association” and shall be in the face amount equal to $163,000,000 and otherwise duly completed, (D) Three Pillars, shall be in the name of “SunTrust ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Inc., as the Three Pillars Agent” and shall be in the face amount equal to $163,000,000 and otherwise duly completed and (E) Scaldis, shall be in the name of “Fortis Bank S.A./N.V., as the Scaldis Agent” and shall be in the face amount equal to $61,125,000 and otherwise duly completed and (2) an Additional Purchaser shall be in the name of such Additional Purchaser and shall be in a face amount to be determined; provided that the aggregate amount outstanding under all VFNs at any one time shall not exceed the Facility Amount.
(b) On the terms and conditions hereinafter set forth, from the Closing Date to, but excluding the Termination Date, the Seller may, at its option, request the Purchasers to make advances of funds under the VFNs (each, an “Advance”) and the Purchasers shall make such Advance in an amount equal to their Pro Rata Share of such requested Advance; provided that, in no event shall the Purchasers make any Advance if, after giving effect to such Advance the aggregate Advances Outstanding hereunder would exceed the lesser of (i) the Facility Amount or (ii) the Maximum Availability. Notwithstanding anything contained in th...
The Variable Funding Notes. (a) On the terms and conditions hereinafter set forth, Borrower shall deliver a duly executed variable funding note on the Fifth Amendment and Restatement Closing Date and on the effective date of any Joinder Supplement a duly executed variable funding note in substantially the form of Exhibit B-1 (each such note, a “Variable Funding Note” or “VFN”), in each case, to the applicable Lender. Interest shall accrue, and each VFN shall be payable, as described herein. The face amount of each such VFN shall be equal to the Commitment of the related Lender and otherwise duly completed. The aggregate amount outstanding under all VFNs at any one time shall not exceed the Facility Amount.
(b) On the terms and conditions hereinafter set forth, the Borrower shall deliver on the Fifth Amendment and Restatement Closing Date, to the Swingline Lender, a duly executed Swingline Note, dated as of the date of this Agreement, in a face amount equal to the Swingline Commitment as of the Fifth Amendment and Restatement Closing Date and otherwise duly completed.
The Variable Funding Notes. (a) The Borrower hereby agrees (i) to assume all of the duties, obligations and liabilities of, and all claims against, the Existing Borrowers under the Existing Loan and Security Agreements as if the Borrower were the original borrower under each of the Existing Facilities, and (ii) that such duties, obligations and liabilities of, and all claims against, the Existing Borrowers shall survive the amendment and restatement of the Existing Facilities contemplated hereby.
(b) On the terms and conditions hereinafter set forth, the Borrower shall deliver (i) on the Amendment and Restatement Date, to each Lender at the applicable address set forth on Annex A to this Agreement, and (ii) on the effective date of any Joinder Supplement, to each additional Lender, at the address set forth in the applicable Joinder Supplement, a duly executed variable funding note in substantially the form of Exhibit B (each a “Variable Funding Note” or “VFN”), dated as of the Amendment and Restatement Effective Date, each in a face amount equal to the applicable Lender’s Commitment as of the Amendment and Restatement Effective Date or the effective date of any Joinder Supplement, as applicable, and otherwise duly
The Variable Funding Notes. (a) On the terms and conditions hereinafter set forth, Borrower shall deliver a duly executed variable funding note on the Closing Date and on the effective date of any Joinder Supplement a duly executed variable funding note in substantially the form of Exhibit B (each such note, a “Variable Funding Note” or “VFN”), in each case, to the applicable Lender requesting the same. Interest shall accrue, and each VFN shall be payable, as described herein. The face amount of each such VFN shall be equal to the Commitment of the related Lender and otherwise duly completed. The aggregate amount outstanding under all VFNs at any one time shall not exceed the Facility Amount.
(b) [Reserved].
The Variable Funding Notes. On the terms and conditions hereinafter set forth, the Borrower shall deliver (i) on the A&R Effective Date, to each Lender so requesting at the applicable address set forth on Annex A to this Agreement, and (ii) on the effective date of any Joinder Supplement, to each additional Lender so requesting, at the address set forth in the applicable Joinder Supplement, a duly executed variable funding note in substantially the form of Exhibit B (each a “Variable Funding Note” or “VFN”), dated as of the date of this Agreement or the effective date of the applicable Joinder Supplement, each in a face amount equal to the applicable Lender’s Commitment as of the A&R Effective Date or the effective date of any Joinder Supplement, as applicable, and otherwise duly completed. Each Variable Funding Note shall evidence obligations in an amount equal, at any time, to the outstanding Advances by such Lender under the applicable VFN on such day.
The Variable Funding Notes
The Variable Funding Notes