Timing of Drawdown Notices; Use of Drawdowns Sample Clauses

Timing of Drawdown Notices; Use of Drawdowns. The General Partner shall provide each Partner with a notice of each Drawdown (a “Drawdown Notice”) at least 10 Business Days prior to the date on which such Drawdown is due and payable (the “Drawdown Date”), provided that in the case of a Drawdown in connection with a Closing, the General Partner may provide a Drawdown Notice as few as five days prior to the Drawdown Date. Each Drawdown shall be used to make Portfolio Investments by the Fund or shall be applied to (i) the payment of Organizational Expenses or Fund Expenses or (ii) the repayment of Indebtedness. If participation by Benefit Plan Investors is “significant” as determined under the DOL Regulations or if the General Partner otherwise so determines, then (notwithstanding Section 5.1) no Capital Contribution shall be made to the Fund by a Benefit Plan Investor until the Fund makes a Portfolio Investment that qualifies the Fund as a VCOC. In such event, prior to the time when the Fund first qualifies as a VCOC, any Capital Contributions of Benefit Plan Investors (and, if determined by the General Partner, other Partners) required by any Drawdown Notice shall be deferred or contributed to an escrow fund established by the General Partner, which escrow fund is intended to comply with Department of Labor Advisory Opinion 95-04A (and, upon the release of such Capital Contributions to consummate a Portfolio Investment, all short-term investment income earned thereon shall be either returned to the Partners in the same proportion as the Partners made such Capital Contributions or paid to the Fund on behalf of the applicable Partners as Capital Contributions).

Timing of Drawdown Notices; Use of Drawdowns. The B Manager shall provide the Class A Members with a notice of each Drawdown (a “Drawdown Notice”) at least 10 Business Days prior to the date on which such Drawdown is due and payable to the Company (the “Funding Date”).