Funding Term definition
Examples of Funding Term in a sentence
With respect to any Portfolio Investment that is a Delayed Funding Term Loan or a Revolving Loan, the Company shall deposit cash into the Unfunded Exposure Account or the Permitted Non-USD Currency Accounts as Unfunded Exposure Allocated Amounts, as applicable, in an aggregate amount at least equal to the Unfunded Exposure Amount of such Portfolio Investment, to be held as cash collateral.
In addition, within two (2) Business Days of any Delayed Funding Term Loan with an unfunded commitment becoming an Ineligible Investment, the Company, subject to clauses (x) and (y) in the immediately preceding sentence, shall sell such Delayed Funding Term Loan and shall pay any amount required to be paid to the transferee as consideration in connection with such sale.
The Progress Funding Term for each Item, if applicable, shall commence on the date the Authorization for Progress Payment (“Authorization”) is executed and shall end on the date specified on the Installation Certificate (the “Installation Date”).
Not more than 10% of the Collateral Principal Amount may consist of Delayed Funding Term Loans and Revolving Loans.
The Recipient will advise the Department immediately if it has sought, is offered, or intends to accept funding from any other sources for this Project at any time during the Funding Term.