Participation Funding Notice definition

Participation Funding Notice means a written notice from a Lender to the Administrative Agent advising the Administrative Agent that a Default exists and directing the Administrative Agent to notify all Lenders to fund their participations in extensions of credit made by BSub Lenders as provided in Section 2.24.

Participation Funding Notice means a written notice from a Canadian Lender informing the Administrative Agent that an Event of Default has occurred and is continuing and directing the Administrative Agent to notify all Lenders to fund their participations in the related Canadian Borrowings as provided in Section 2.4.

Examples of Participation Funding Notice in a sentence

• Promptly upon receipt of such Participation Funding Notice, (i) each Lender that is not a BSub Lender with respect to any Borrowing Subsidiary shall (or shall cause an Affiliate to) make available to the Administrative Agent for the account of the BSub Lenders with respect to such Borrowing Subsidiary an amount in each applicable currency and in immediately available funds equal to its Pro Rata Share of all outstanding Loans to such Borrowing Subsidiary.

• Promptly upon receipt of such Participation Funding Notice, (i) each Revolving Lender that is not a BSub Lender with respect to any Borrowing Subsidiary shall (or shall cause an Affiliate to) make available to the Administrative Agent for the account of the BSub Lenders with respect to such Borrowing Subsidiary an amount in each applicable currency and in immediately available funds equal to its Pro Rata Share of all outstanding Revolving Loans to such Borrowing Subsidiary.

• Agent shall promptly notify the Canadian Agent and each Non- Canadian Lender of its receipt of a Canadian Participation Funding Notice.

• The Fronting Bank shall be entitled to retain for its own account such portion of the non-use fee attributable to the unused Commitment of each Participating Lender until such Participating Lender has made funds available to the Administrative Agent in accordance with a Participation Funding Notice has been delivered.

• After a Participation Funding Notice, and until the Fronting Bank has provided notice that it will resume making funds available in respect of the Pro Rata Share of each Participating Lender, each Participating Lender shall be entitled to be paid such portion of the non-use fee attributable to the unused Commitment of such Participating Lender.

• If the Canadian Agent receives a request from Revenue Canada or any other taxing authority to provide additional information concerning the withholding tax status of any Canadian Bank (or, after delivery to the U.S. Agent of a Canadian Participation Funding Notice, a Non-Canadian Bank), such Bank shall (upon notice of such request from the Canadian Agent) use reasonable efforts to obtain and deliver such information to such taxing authority and the Canadian Agent.

• Then, it is checked if the poll- request has already been completed, (i.e., if the coordinator has received the message to be disseminated to the other nodes), by checking if there is a token in place “RequestCompleted”.If the poll-request part has not been completed yet, a token is added in place “SlotStart”, causing the instantaneous activity “PollRequest” to become enabled and fire.

• For greater certainty, each Participating Lender will be required to make funds available to the Administrative Agent for each Loan, BA Borrowing or L/C Obligation made or incurred after the receipt of a Participation Funding Notice until such time as the Administrative Agent notifies the Participating Lenders that the Fronting Bank will resume making funds available to the Borrower in respect of the Pro Rata Share of each Participating Lender.

• Notwithstanding any term to the contrary in this Agreement, each Lender, to the extent it is a Participating Lender, will not be required to make funds available to the Borrower or the Administrative Agent or any other Lender in respect of Loans, BA Borrowings or L/C Obligations unless and until the Participating Lenders have received notice that the Administrative Agent has received a Participation Funding Notice.

• Such fronting fee shall accrue daily, from the Closing Date to the Termination Date (regardless of whether a Participation Funding Notice has been delivered) and shall be due and payable in arrears on each Interest Payment Date, with the final payment to be made on the Termination Date (or such earlier date on which the Commitments are terminated).