Unfunded Commitment Provisions Clause Samples
Unfunded Commitment Provisions define the obligations and procedures related to portions of a financial commitment that have not yet been funded by an investor or lender. These provisions typically outline when and how the remaining funds must be provided, the consequences of failing to fund when required, and any conditions precedent to funding. For example, in a private equity fund, such provisions may specify the timeline for capital calls and the penalties for defaulting investors. The core function of these provisions is to ensure that all parties understand their ongoing funding obligations, thereby reducing the risk of shortfalls and ensuring the smooth operation of the investment or financing arrangement.
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Loans pursuant to Section 13.2 or (ii) the end of the Revolving Period, the Borrower shall request a Revolving Loan in the amount of the Aggregate Unfunded Amount minus the amount then on deposit in the Unfunded Exposure Account. Following receipt of such Loan Request, the Lenders shall fund such requested amount by depositing such amount directly to the Collateral Agent to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2).
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Advances pursuant to Section 13.2 and (ii) the end of the Revolving Period, if an Unfunded Exposure Shortfall exists, the Lenders shall, to the extent of available Commitments, fund Advances in an aggregate amount equal to such Unfunded Exposure Shortfall by transferring such amount to the Collateral Agent to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2); provided that, no Lender shall be obligated to fund an aggregate amount in excess of its Commitment.
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Advances pursuant to Section 14.2 or (ii) the end of the Revolving Period, the Borrower shall request an Advance in the amount of the Aggregate Unfunded Amount minus the amount then on deposit in the Unfunded Exposure Account. Following receipt of such Advance Request, the Lenders shall fund such requested amount by depositing such amount directly to the Collateral Agent to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2). USActive 31637433.4 -63-
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Advances pursuant to Section 13.2 and (ii) the end of the Revolving Period, the Borrower shall (x) first, deposit into the Unfunded Exposure Account any Unrestricted Cash to the extent utilized to calculate the Revolving Liquidity Adjustment Amount and in the amount of the Aggregate Unfunded Amount minus the amount already on deposit in the Unfunded Exposure Account and (y) second, request an Advance in the amount of the Aggregate Unfunded Amount minus the amount already on deposit in the Unfunded Exposure Account (including the amount deposited pursuant to clause (x) above). Following receipt of such Advance Request, the Lenders shall fund such requested amount by transferring such amount directly to the Collateral Custodian to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2).
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Advances pursuant to Section 13.2 and (ii) the end of the Revolving Period, the Borrower shall request an Advance in the amount of the Aggregate Unfunded Amount minus the amount already on deposit in the Unfunded Exposure Account. Following receipt of such Advance Request, the Lenders shall fund such requested amount by transferring such amount directly to the Administrative Agent, which shall pay such amounts to the Collateral Agent to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2).
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Advances pursuant to Section 13.2Section 13.2 and (ii) the end of the Revolving Period, the Borrower shall (x) first, deposit into theif an Unfunded Exposure Account any Unrestricted Cash to the extent utilized to calculate the Revolving Liquidity Adjustment Amount and in the amount of the Aggregate Unfunded Amount minus the amount already on deposit in the Unfunded Exposure Account and (y) second, request an Advance in the amount of the Aggregate Unfunded Amount minus the amount already on deposit in the Unfunded Exposure Account (including the amount deposited pursuant to clause (x) above). Following receipt of such Advance RequestShortfall exists, the Lenders shall fund such requested amount , to the extent of available Commitments, fund Advances in an aggregate amount equal to such Unfunded Exposure Shortfall by transferring such amount directly to the Collateral CustodianAgent to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2)Section 6.2); provided that, no Lender shall be obligated to fund an aggregate amount in excess of its Commitment.
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Advances pursuant to Section 13.2 or (ii) the end of the Revolving Period, the Borrower shall request an Advance in the amount of the Aggregate Unfunded Amount minus the amount already on deposit in theif an Unfunded Exposure Account. Following receipt of such Advance RequestShortfall exists, the Lenders shall fund such Advance by delivering, to the extent of available Commitments, fund Advances in an aggregate amount equal toof the Aggregate Unfunded AmountExposure Shortfall directly to the Collateral Custodian to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2). For the avoidance of doubt, no Lender shall be obligated to fund an aggregate amount in excess of its Commitment.
Unfunded Commitment Provisions. Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any Facility Termination Event or (ii) the end of the Revolving Period, the Borrower shall request an Advance in the amount of (x) in the case of clause (i) above, the Aggregate Unfunded Amount minus the amount already on deposit in the Unfunded Exposure Account and (y) in the case of clause (ii) above, the Revolving Liquidity Test Shortfall minus the amount already on deposit in the Unfunded Exposure Account. Following receipt of such Advance Request, the Lenders shall fund such requested amount by transferring such amount directly to the Collateral Agent to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2).