Payment Extension Certificate means the applicable Seller’s written certification to Buyer delivered pursuant to Section 3(e) or Section 4(a), duly executed by an authorized officer of such Seller, certifying to Buyer that (A) it does not have sufficient available funds on hand to pay the full amount of the payment obligation in respect of which the Payment Extension Certificate is being delivered, and (B) it either (x) does not have a liquidity or subscription facility available to it under which it could draw funds or (y) does have a liquidity or subscription facility available to it but does not have sufficient availability thereunder to pay the full amount owing of the payment obligation in respect of which the Payment Extension Certificate is being delivered.
Payment Extension Certificate means Seller’s written certification to Administrative Agent duly executed by an authorized officer of Seller, certifying to Administrative Agent that (i) it has paid to Administrative Agent Available Cash on hand in payment of the Margin Deficit or the applicable Repurchase Price in respect of which the Payment Extension Certificate is being delivered, and (ii) as of the date of such Payment Extension Certificate, it and each applicable Guarantor has duly delivered a funding notice under its liquidity facility or its subscription credit facility or a capital call notice to its direct or indirect investors (annexing a copy of such funding notice or capital call notice) for an amount sufficient to pay the remaining amount owing of the applicable Margin Deficit or Repurchase Price in respect of which the Payment Extension Certificate is being delivered.
Payment Extension Certificate means Seller’s written certification to Purchaser delivered pursuant to Article 3(d)(ii) or Article 4(b), duly executed by an authorized officer of Seller, certifying to Purchaser that (i) it has paid to Purchaser all available funds (available to it and Guarantor, and, in each case, other than Allocated Cash) on hand in payment of the payment obligation in respect of which the Payment Extension Certificate is being delivered, and (ii) as of the date of such Payment Extension Certificate, it and Guarantor have duly delivered a funding notice under its liquidity facility or its subscription credit facility or have provided notice to all relevant parties as to application of incoming subscription amounts (annexing a copy of such funding notice or subscription amount notice) for an amount sufficient to pay the remaining amount owing of the payment obligation in respect of which the Payment Extension Certificate is being delivered. Any remaining amounts owing, in respect of such payment obligation and subject to any such Payment Extension Certificate shall increase the Guarantor’s Guaranteed Obligations (as defined in the Guaranty), in accordance with the terms and conditions of Article II(a) of the Guaranty until such remaining amounts have been paid in full.
More Definitions of Payment Extension Certificate
Payment Extension Certificate means the applicable Seller’s written certification to Buyer delivered pursuant to Section 3(e), Section 3(s) or Section 4(a), duly executed by an authorized officer of such Seller, certifying to Buyer that (A) it does not have sufficient available funds on hand to pay the full amount of the payment obligation in respect of which the Payment Extension Certificate is being delivered, and (B) as of the date of such Payment Extension Certificate, it has duly delivered a funding notice under its liquidity facility for an amount sufficient to pay the remaining amount owing of the payment obligation in respect of which the Payment Extension Certificate is being delivered.