Funding Portion definition
Examples of Funding Portion in a sentence
The Borrower must, within 3 Business Days of demand by the Agent, pay to the Agent for the account of each Finance Party its Break Costs attributable to all or any part of a Funding Portion being prepaid or repaid by the Borrower on a day other than the last day of the Interest Period for that Funding Portion.
The Issuer must, and the SF Manager must cause the Issuer to, use the proceeds of a Funding Portion only to make Top-up Loans.
In addition, as of such date, to the extent there is then an Unfunded Participating Investment, Participant will be credited with a reduction of the Unfunded Participating Investment in an amount of the Funding Portion with respect to such Operating Proceeds.
In addition, as of such date, to the extent there is then an Unfunded Participating Investment, Participant will be credited with a reduction of the Unfunded Participating Investment in an amount of the Funding Portion with respect to such Capital Event Proceeds.
A Borrower may prepay a Funding Portion drawn under the Overdraft Facility at any time in whole or in part.
If Part 4 of the Key Terms Schedule specifies that Proceeds of Negotiation are “Available” and a Borrower gives a Funding Notice for Proceeds of Negotiation the Lender must, subject to this agreement, negotiate Foreign Bills duly presented to the Lender for negotiation and shall pay the Proceeds of Negotiation to the Borrower of the Funding Portion.
The Borrower of a Funding Portion is irrevocably committed to draw Funding Portions from the Lender in accordance with each Funding Notice given to the Lender.
Each Borrower must repay each Trade Advance on the Interest Payment Date for that Funding Portion.
If the SF Manager gives a Funding Notice in accordance with clause 4, then, subject to this agreement (including, without limitation, clause 11), the Note Holder must, and the OF Manager must cause the Note Holder to, provide the relevant Funding Portion under the Facility as payment for the relevant Note in Same Day Funds in Dollars not later than 12 noon (Melbourne time) on the specified Funding Date and in accordance with that Funding Notice.
If the Borrower gives a Funding Notice the Financier must pay into the Proceeds Account the specified Funding Portion in Same Day Funds in United States Dollars on the specified Funding Date and in accordance with that Funding Notice.