Additional Loan Advance definition
Examples of Additional Loan Advance in a sentence
The provisions of this Section 3.4 shall apply only if Aetna has made any Additional Loan Advance pursuant to Section 7.4 below.
For greater certainty, it is hereby confirmed that all present and future Additional Loan Advances sold to the Guarantor pursuant to the terms hereof will have the benefit of the applicable Related Security and upon sale by the Seller to the Guarantor of any such Additional Loan Advance (together with its applicable Related Security) the Seller shall have no interest therein.
Each Additional Loan Advance shall be deemed to form part of the applicable Loan and Related Security and have the benefit thereof.
Not later than 1:00 p.m. at least one (1) Business Day prior to a borrowing of Base Rate Loans comprising all or a portion of the Loan (which for purposes of this subsection (b) shall include (if and as applicable) an Additional Loan Advance) and not later than 1:00 p.m. at least three (3) Business Days prior to a borrowing of LIBOR Loans comprising all or a portion of the Loan, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing.
Not later than 1:00 p.m. at least one (1) Business Day prior to a borrowing of Base Rate Loans or LIBOR Daily Loans comprising all or a portion of the Loan (which for purposes of this subsection (b) shall include (if and as applicable) an Additional Loan Advance) and not later than 1:00 p.m. at least three (3) Business Days prior to a borrowing of LIBOR Loans (other than LIBOR Daily Loans) comprising all or a portion of the Loan, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing.
Each such written notice (or confirmation) must be made (i) if the Initial Loan Advance, in the form and substance of the "Request for Initial Advance" in Exhibit L duly completed; and (ii) if an Additional Loan Advance, in the form and substance of the "Request for Additional Advance" in Exhibit M.
Upon such credit being made with respect to any such Additional Loan Advance, the Originator’s ownership of such Additional Loan Advance and all Related Security and related Collections shall be sold, assigned and transferred to the Acquirer effective as of the date of such purchase.
Nothing contained in this Section 14 shall be deemed or construed to be a release of any party’s rights or obligations under this Agreement, the Loan Document Amendments or any of the Original Loan Documents or of any Claim arising from events, acts or omissions occurring after the making of an Additional Loan Advance or that do not arise out of or relate to, or that are not connected with, the Original Loan or the transactions arising from or relating thereto.
Borrower hereby unconditionally, irrevocably, absolutely and forever waives and surrenders any and all defenses, setoffs, claims, counterclaims or deductions against the Lender with respect to the Original Loan Documents, the Loan or the enforcement thereof by Lender against Borrower and the Property, arising out of or related to any facts, circumstances, events or happenings occurring prior to the making of the Additional Loan Advance.
Notwithstanding any other term of this Agreement or any other Loan Document, no Loan (including any Additional Loan Advance) shall be made if immediately after the making of such Loan (or Additional Loan Advance) the Unsecured Indebtedness (including such Loan (or Additional Loan Advance) and any “Loans” under and as defined in the Revolving Credit Agreement) of the Parent Guarantor and its Subsidiaries on a consolidated basis would exceed the Unencumbered Asset Value.