Delayed Funding Notice definition
Examples of Delayed Funding Notice in a sentence
Any Bank for which a Delayed Funding Notice is delivered with respect to any Original Date shall be referred to herein as a “Delaying Bank” with respect to the purchase being made on such Original Date and funds required to be delivered on the respective Delayed Funding Date pursuant to such Delayed Funding Notice shall be referred to as “Delayed Funds”.
Each Delayed Funding Notice delivered by a Bank shall be deemed to be a representation and warranty by such Bank to the Seller as of the date of the Delayed Funding Notice that the written certification described in this clause (e)(ii) is true and complete in all respects as of such date.
Notwithstanding the foregoing, the delivery of a Delayed Funding Notice shall not relieve any other Bank that is not a Delaying Bank (each, a “Non-Delaying Bank”) of any of its obligations hereunder, including the obligation of such Non-Delaying Bank to make the purchase to be made on such Original Date and other purchases in accordance with the terms of this Agreement.
If any Delayed Funding Notice with respect to any purchase is delivered hereunder, the Seller may, by notice to the Purchaser Agents no later than 11:30 a.m. (New York City time) on the Original Date with respect thereto, revoke the applicable Purchase Request.