Examples of Auction Advance in a sentence
Each Interest Period for any Eurodollar Loan or Bid Auction Advance made, converted or renewed prior to the Maturity Date must end on or prior to the Maturity Date.
Each Bid Auction Advance shall bear interest (from the date made through and including the date of payment in full) at a rate per annum as determined in accordance with Section 1.4.
The Company shall repay to the Administrator, for the account of each Bank which has made a Bid Auction Advance to the Company, the principal amount of such Bid Auction Advance on the last day of the Interest Period relating to such Bid Auction Advance.
The Company shall not be permitted to prepay any Bid Auction Advance.
A description of all open Auction Advances, including the name of the Consignor, the amount of the Auction Advance, the collateral securing the Auction Advance and the date the consignment is intended to be auctioned, is set forth in Schedule 8.07.
The amount to be reimbursed from the auction sale of the consigned coins, paper money or numismatic collectibles which secure such Auction Advances shall be an amount equal to the sum of (i) the principal face amount of the Auction Advance and (ii) all interest accrued thereon, at the rate agreed to be paid by the Consignor to whom the Auction Advance was made, from the date of the Advance to the date of repayment by the Consignor.
Each Bid Auction Advance from any Bank shall be evidenced by a grid promissory note of the Company payable to the order of the lending Bank, in substantially the form of Exhibit B hereto (individually a "Bid Auction Note" and collectively the "Bid Auction Notes").
Each Interest Period relating to any Bid Auction Advance shall be for such duration of 7 to 180 days as shall be selected by the Company in compliance with the provisions of this Article I.
Upon each occasion that a Bid Auction Advance is made, and during the period such Bid Auction Advance is outstanding, each Bank's Commitment shall be deemed automatically utilized by an amount equal to the amount of such Bid Auction Advance multiplied by such Bank's percentage of the Total Commitment, regardless of the extent to which such Bank makes a Bid Auction Advance.
The Company shall have duly and timely given to the Administrator a Letter of Credit Election Notice, a Loan Election Notice or a Bid Auction Election Notice, as the case may be, required by this Agreement in connection with such Letter of Credit, such Loan or such Bid Auction Advance.