Funding Deadline definition
Examples of Funding Deadline in a sentence
Subject to the conditions set forth in Section 2.07, and in consideration for the Mortgage Loan Package to be purchased by the Purchaser on the related Closing Date, the Purchaser shall pay to Countrywide on such Closing Date the Purchase Proceeds by wire transfer of immediately available funds to the account designated by Countrywide on or before the Funding Deadline.
If, following the delivery of a Drawdown Notice, you fail to fund a required capital commitment by the applicable Funding Deadline, in part or in full, and such failure remains uncured for a period of ten (10) calendar days following the applicable Funding Deadline (such 10th day, the “Last Funding Date”) you shall be delinquent in your obligations to the Fund.
Subject to the foregoing conditions, the Purchaser shall pay to the Seller on the related Closing Date the Purchase Price, plus accrued interest pursuant to Section 4 of this Agreement, by wire transfer of immediately available funds to the account designated by the Seller on or before the Funding Deadline.
You shall be deemed to be delinquent as to a Funding Deadline if you fail to fund the required capital commitment for that Funding Deadline, or if you have any outstanding obligations in respect of a prior Funding Deadline which remain unsatisfied as of such Last Funding Date.
Any payments made by you after the applicable Last Funding Date (or any payments made prior to the Last Funding Date in amounts less than your required capital commitment) will not be accepted by the Fund, and you will be required to fund such capital commitment together with any new required capital commitment, in respect of the next applicable Funding Deadline.