Ceased Funding definition
Ceased Funding means, with respect to the Cut-Off Time, either of the following events: (i) AR Lender (including any co-lenders pursuant to the AR Loan Documents) has received a request for an Advance under the AR Loan Agreement for which there is sufficient Availability and a period of thirty (30) calendar days has elapsed since the date of such request, during which time such Advance is not made or (ii) AR Lender has notified Operator and/or FHA Lender in writing that it has determined to permanently cease making further Advances (at least with respect to the Facility) under the AR Loan Agreement.
Ceased Funding means, with respect to the Possession Date, the date that AmSouth has notified Lender in writing that it has determined to cease making further advances under the AmSouth Loan Documents.
Examples of Ceased Funding in a sentence
If the AR Lender has Ceased Funding, the Cut-Off Time may be concurrent with the date on which Ceased Funding occurred, even if the Cut-Off Time Notice is delivered thereafter.
Ceased Funding has occurred as of _____________________________________.