Variable Funding Note. The Borrower has heretofore delivered or shall, on the date hereof (and on the terms and subject to the conditions hereinafter set forth), deliver, to each Lender Agent, at the address set forth on Annex A to this Agreement, and on the effective date of any Joinder Supplement, to each additional Lender Agent, at the address set forth in the applicable Joinder Supplement, a duly executed variable funding note (the “Variable Funding Note”), in substantially the form of Exhibit I, in an aggregate face amount equal to the applicable Lender’s Commitment as of the Closing Date or the effective date of any Joinder Supplement, as applicable, and otherwise duly completed. Interest shall accrue on the Variable Funding Note, and the Variable Funding Note shall be payable, as described herein.
Variable Funding Note. Upon the written request of the Lender, the Borrower shall (on the terms and subject to the conditions hereinafter set forth) deliver to the Lender, at the address set forth in Section 11.02, a duly executed variable funding note (as amended, restated, supplemented and/or otherwise modified from time to time, the “Variable Funding Note”), in substantially the form of Exhibit H, in an aggregate face amount equal to the Maximum Facility Amount, and otherwise duly completed. If any Variable Funding Note is issued, interest shall accrue on such Variable Funding Note, and such Variable Funding Note shall be payable, as described herein.
Variable Funding Note. Upon the written request of any Lender at any time, the Borrower shall (on the terms and subject to the conditions hereinafter set forth) deliver to such Lender, at the address set forth in Section 11.02 of this Agreement, and upon the written request of any additional Lender, the Borrower shall deliver to such additional Lender, at the address set forth in the applicable Joinder Supplement, a duly executed variable funding note (as amended, modified, supplemented or restated from time to time, a “Variable Funding Note”), in substantially the form of Exhibit H, in an aggregate face amount equal to the applicable Lender’s Commitment as of the date on which such Variable Funding Note is issued and otherwise duly completed. If any Variable Funding Note is issued, interest shall accrue on such Variable Funding Note, and such Variable Funding Note shall be payable, as described herein.
Variable Funding Note. Any Series of variable funding notes shall initially be sold to investors in reliance on an exemption from the registration requirements of the Securities Act. Such Series of Notes shall be issued in the form of one or more variable funding notes (each, a “Variable Funding Note”) in fully registered form without interest coupons substantially in the form set forth in the applicable Series Supplement with such legends as may be applicable thereto, duly executed by the Issuer and authenticated by the Trustee as provided in Section 2.4. The aggregate outstanding principal amount of a Variable Funding Note may from time to time be increased or decreased in accordance with the applicable Series Supplement by adjustments made on the records of the Note Register.
Variable Funding Note. The Borrower shall, on the date hereof (and on the terms and subject to the conditions hereinafter set forth), deliver, to each Lender Agent, at the address set forth in Section 11.02 of this Agreement, and on the effective date of any Joinder Supplement, to each additional Lender Agent, at the address set forth in the applicable Joinder Supplement, a duly executed variable funding note (as amended, modified, supplemented or restated from time to time, the “Variable Funding Note”), in substantially the form of Exhibit G, in an aggregate face amount equal to the applicable Lender’s Commitment as of the date hereof or the effective date of any Joinder Supplement, as applicable, and otherwise duly completed. Interest shall accrue on the Variable Funding Note, and the Variable Funding Note shall be payable, as described herein.
Variable Funding Note. The Borrower has heretofore delivered or shall, on the date hereof (and on the terms and subject to the conditions hereinafter set forth), deliver, to each Lender Agent, at the address set forth on the signature pages of this Agreement, and on the effective date of any Joinder Supplement, to each additional Lender Agent, at the address set forth in the applicable Joinder Supplement, a duly executed variable funding note (the “Variable Funding Note”), in substantially the form of Exhibit I, in an aggregate face amount equal to the applicable Lender’s Commitment as of the Original Closing Date or the effective date of any Joinder Supplement, as applicable, and otherwise duly completed; provided that the Borrower shall have no obligation to deliver a Variable Funding Note to any Lender Agent on or after the Ninth Amendment Closing Date unless such Lender Agent requests to receive a Variable Funding Note in writing (including via e-mail). Interest shall accrue on the Variable Funding Note, and the Variable Funding Note shall be payable, as described herein.
Variable Funding Note. The Borrower has heretofore delivered or shall, on the Third Amendment Effective Date (and on the terms and subject to the conditions hereinafter set forth), deliver to the Note Purchaser at the address set forth in Section 11.02, a duly executed variable funding note (the “Variable Funding Note”), in substantially the form of Exhibit I, in an aggregate face amount equal to $500,000,000, and otherwise duly completed. Interest shall accrue on the Variable Funding Note, and the Variable Funding Note shall be payable, as described herein.
Variable Funding Note. The Loans shall be evidenced by a promissory note of the Borrower, substantially in the form of Exhibit A hereto (the “VFN” or “Variable Funding Note”), payable to the order of the Agent for the account of the Lender or Bank Investors, as applicable. The Agent shall record the date and amount of each Loan made and the date and amount of each payment of principal thereof, and any such recordation shall constitute prima facie evidence of the accuracy of the information so recorded. The VFN shall (a) be dated the date hereof, (b) be stated to mature on the Scheduled Termination Date, and (c) provide for the payment of principal, interest and fees in accordance with Section 2.4 and Section 2.6 hereof.
Variable Funding Note. 6.18.1 PML as Administrator on behalf of the Issuer will arrange for funding under the Class S VFN pursuant to Condition 18 and this Clause 6.18.
6.18.2 If the Issuer (or PML as Administrator on behalf of the Issuer) determines that:
(a) amounts standing to the credit of the General Reserve Fund are less than the General Reserve Fund Required Amount;
(b) amounts standing to the credit of the Class A and Class B Note Liquidity Reserve Fund are less than the Class A and Class B Note Liquidity Reserve Fund Required Amount; or
(c) there is a balance of less than zero on the Principal Deficiency Ledger, then not later than 2.00 p.m. one Business Days prior to the date on which a further funding of the Class S VFN is required (or such lesser time as may be agreed by the Class S VFN Holder), PML as Administrator on behalf of the Issuer may serve a Notice of Increase on the Class S VFN Holder requesting that the Class S VFN Holder further fund its obligations under the Class S VFN on the next following Interest Payment Date or other Business Day specified in the Notice of Increase in an amount as calculated by PML as Administrator pursuant to Clause 6.18.3 below and confirming in such Notice of Increase that no Event of Default has occurred or will occur as a result of the Further Class S VFN Funding.
Variable Funding Note. Any Series of Variable Funding Notes shall initially be sold to investors in reliance on an exemption from the registration requirements of the Securities Act. Such Series of Notes shall be issued in the form of one or more Variable Funding Notes (each, a "VARIABLE FUNDING NOTE") in fully registered form without interest coupons substantially in the form set forth in the applicable Series Supplement with such legends as may be applicable thereto, duly executed by ARG II and authenticated by the Trustee as provided in SECTION 2.
