Additional Facility Advance definition
Examples of Additional Facility Advance in a sentence
Any Additional Facility Borrower may, by giving to the Facility Agent not less than 5 Business Days’ prior written notice to that effect (unless an Instructing Group has given its prior consent to a shorter period), repay any Additional Facility Advance by such minimum amount as is agreed by the Company and the relevant Additional Facility Lender.
If an Additional Facility Advance is to be repaid or prepaid by reference to an Original Euro Amount, the US Dollar amount to be repaid or prepaid shall be determined by reference to the Agent’s Spot Rate of Exchange used for determining the US Dollar amount of that Additional Facility Advance under Clause 5.4(c) (Participations in Advances) or, if applicable, the Original Exchange Rate.
On each Repayment Date (and, if the Term of any Revolving Facility Advance or Additional Facility Advance in relation to a revolving facility exceeds 6 months, on the expiry of each period of 6 months during such Term), the relevant Borrowers shall pay accrued interest on each Revolving Facility Advance and Additional Facility Advance in relation to a revolving facility made to it.
If an Additional Facility Advance is to be repaid or prepaid by reference to an Original Euro Amount, the US Dollar amount to be repaid or prepaid shall be determined by reference to the Agent's Spot Rate of Exchange used for determining the US Dollar amount of that Additional Facility Advance under Clause 5.4(c) (Participations in Advances) or, if applicable, the Original Exchange Rate.
As of the applicable Additional Facility Advance Closing Date, Borrower shall have paid all state, county and municipal recording and all other taxes imposed upon the execution and recordation of the Related Mortgage.
Simultaneously with Borrower's submission to Lender of a Request for Additional Facility Advance, and as a condition precedent to Lender's obligation to fund the Additional Facility Advance, Borrower shall submit to Lender the items described in paragraphs (d), (e), (f), (g), (h), (i), (m), (n), (o), (q), (s), (t), (u), (v), (w), (x) and (y) of this Section 3.
To the extent any Additional Facility which is the subject of the Additional Facility Advance constitutes a Joint Venture Facility, the applicable Joint Venture and the Borrower shall have executed and delivered to Lender the Joint Venture Loan Documents.
Upon Lender's receipt of a Request for Additional Facility Advance, such Additional Facility Request for Advance shall be irrevocable by Borrower unless Borrower sends a cancellation of the Request for Additional Facility Advance received by Lender before the disbursement is made.
Each Borrower under the Revolving Facility or an Additional Facility shall select the currency of a Revolving Facility Advance or an Additional Facility Advance made to it (which shall be Dollars, euro or an Optional Currency) in the Utilisation Request relating to the relevant Revolving Facility Advance or Additional Facility Advance.
The Borrower shall (subject to Clause 10.2 (Rollover Advances)) repay the full amount of each Revolving Facility Advance and each Additional Facility Advance in relation to a revolving facility drawn by it on its Repayment Date.