Examples of Advance Reduction in a sentence
Fees & Expenses Paid by/to Servicer 0.00 Interest Paid to Servicer on Outstanding Advances 0.00 ASER Interest Advance Reduction 0.00 Interest Not Advanced (Current Period) 0.00 Recoup of Prior Advances by Servicer 0.00 Servicing Fees Paid Servicer on Loans Not Advanced 0.00 Misc.
With respect to any determination pursuant to Section 2(i)(iii)(A) that a Concentration Limit Advance Reduction needs to be paid, the Administrative Agent shall communicate to the Borrower in writing by the Payment Notification Time, its calculation of the Concentration Limit Advance Reduction.
With respect to any determination pursuant to Section 2 (i)(ii)(A) that an Advance Reduction needs to be paid, the Administrative Agent shall communicate to the Borrower in writing by such Payment Notification Time, its calculation of Advance Reduction.
These five transaction types are: Obligation Limitation Obligation Cost Summary Advance of Funds Advance Reduction VoucherExplanations of each of these transaction types follow.Obligation Limitation – The “Obligation Limitation” establishes the amount of federal funds available for expenditure under NHTSA 402 and designated incentive grant funds.
With respect to each Advance for which the Administrative Agent has communicated its calculation of the Repayment Amount, Advance Reduction or Concentration Limit Advance Reduction by the Payment Notification Time, the Borrower shall pay to the Administrative Agent the Repayment Amount, Advance Reduction or Concentration Limit Advance Reduction, as applicable, for each Advance on the immediately following Remittance Date.
Any reduction of the Advances Outstanding (other than with respect to payments of the Required Advance Reduction Amount) shall be in a minimum amount of $1,000,000 (or the Alternative Currency Equivalent thereof) with integral multiples of $100,000 (or the Alternative Currency Equivalent thereof).
The related Concentration Limit Advance Reduction shall be paid on the earliest to occur of (A) the next following Remittance Date, (B) the next following Funding Date, (C) the next following date of Optional Repayment pursuant to Section 2(g)(ii) and (D) two (2) Business Days following notice or discovery by such Borrower that such Concentration Limit has been breached.
Any reduction of the Advances Outstanding (other than with respect to prepayments of Advances Outstanding to be made by the Borrower to reduce the Required Advance Reduction Amount to an amount equal to zero) shall be in a minimum amount of $1,000,000 with integral multiples of $100,000.
Upon Administrative Agent’s receipt of such Deemed Collection and so long as no Default or Event of Default has occurred and the Required Advance Reduction Amount is not greater than zero, the Administrative Agent, as agent for the Secured Parties, shall release from the lien created by this Agreement the Pledged Loan with respect to which the Administrative Agent has received such Deemed Collection.
FORMATSInternal Audit Report should contained details of:a) Cash book, Bank Reconciliation, Physical Verification of Cash, performance of banks regarding transfer of funds.b) Service Book, Personal file, Leave Register, Personal Advance, Reduction of PF and Contributory provident fund etc.c) Payment to contractors / suppliers.d) Checks of bills with respect to letter of Intent / Contract Agreement.