Common use of Late Requests Clause in Contracts

Late Requests. If, after a Lender or Lenders in addition to JPMorgan joins this Agreement, a Request for Borrowing is received by JPMorgan later than 4:00 PM on a Business Day, JPMorgan shall either, at its election, (i) fund the Advance requested by making a (1) These times will change to 12:00 noon and 1:00 PM, respectively, if and when another Lender joins this Agreement. Swing Line Loan either on that same day or, at JPMorgan's election, on the next Business Day, or (ii) arrange for its funding on the next Business Day as a regular Advance. JPMorgan shall have no obligation to fund any such late-requested Advance as a Swing Line Advance if all of the requirements of SECTIONS 2.6 and 3.3 are not satisfied, although JPMorgan may elect to do so. If JPMorgan does not elect to do so, then the Lenders shall fund such requested Advance as a regular Advance on such next succeeding Business Day after the Request for Borrowing is received by the Agent, provided that all conditions to its funding (including the requirements of SECTION 3.3) are then satisfied.

Late Requests. If, after a Lender or Lenders in addition to JPMorgan joins this Agreement, a Request for Borrowing is received by JPMorgan later than 4:00 PM on a Business Day, JPMorgan shall either, at its election, (i) fund the Single-family Advance requested by making a (1) These times will change to 12:00 noon and 1:00 PM, respectively, if and when another Lender joins this Agreement. a Swing Line Loan either on that same day or, at JPMorgan's election, on the next Business Day, or (ii) arrange for its funding on the next Business Day as a regular Single-family Advance. JPMorgan shall have no obligation to fund any such late-requested Single-family Advance as a Swing Line Advance if all of the requirements of SECTIONS 2.6 and 3.3 3.6 are not satisfied, although JPMorgan may elect to do so. If JPMorgan does not elect to do so, then the Lenders shall fund such requested Single-family Advance as a regular Advance on such next succeeding Business Day after the Request for Borrowing is received by the (1) These times will change to 12:00 noon and 1:00 PM, respectively, if and when another Lender joins the Current Credit Agreement. Agent, provided that all conditions to its funding (including the requirements of SECTION 3.33.6) are then satisfied.