Examples of Advances Outstanding in a sentence
For purposes of this definition, Advances requested by the Administrative Borrower but not funded by a Defaulting Lender shall be deemed funded for purposes of calculating Advances Outstanding.
The Co-Borrowers shall pay to the Administrative Agent for the account of the Lenders, a daily fee calculated at a rate per annum equal to Term SOFR plus the Applicable Spread as determined for the current Interest Period on the positive difference, if any, between the Minimum Utilization Amount and Advances Outstanding (“Utilization Fees”), on each Payment Date.
The Administrative Agent shall determine the Yield for the Advances Outstanding (including unpaid Yield related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Remittance Period or Interest Period, as applicable, and shall advise the Servicer thereof on or prior to the third Business Day prior to such Payment Date.
Such notice of reduction shall be effective only upon receipt and shall permanently reduce the Commitments of each Lender, pro rata, in the amount of the reduction and on the date specified in such notice; provided that no such reduction will reduce the Commitments below the Advances Outstanding at such time.
The Administrative Agent shall apply amounts received from the Co‐Borrowers pursuant to Section 2.04(b) to the pro rata payment of all accrued and unpaid interest with respect to such prepaid Advances and all costs and expenses then due and owing hereunder or under any Transaction Document until paid in full and thereafter to prepay the Advances Outstanding.