Cash Secured Advance definition

Cash Secured Advance means, in respect of any Bank, without duplication, the aggregate amount of the proceeds (a) (i) of the advance, if any, made by such Bank pursuant to Section 2.01(d) and (ii) of such Bank’s ratable share of any applications of Collections of Receivables during the Term Period for such Bank to reduce the “Capital” in respect of the Receivable Interest hereunder and (b) on deposit at such time in the Collateral Advance Account (including any such proceeds invested by the Agent at such time in Eligible Investments pursuant to Section 6.09(c)), it being understood that the amount of such Bank’s Cash Secured Advance shall be decreased by such Bank’s ratable share of the funds paid from time to time from the Collateral Advance Account to the Seller to make a purchase of an interest in the Receivable Interest from time to time during the Term Period for such Bank.
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Cash Secured Advance means an advance made by Lender to Borrowers under Section 1.1(b) of this Agreement.
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Cash Secured Advance means, in respect of any Liquidity Bank, without duplication, the aggregate amount of the proceeds (a) (i) of the Loan, if any, made by such Liquidity Bank pursuant to Section 1.1(c) and (ii) of such Liquidity Bank’s Ratable Share of any applications of Collections during the Term Period for such Liquidity Bank’s Conduit Group to reduce Aggregate Principal and (b) on deposit at such time in the Collateral Advance Account (including any such proceeds invested by the Administrative Agent at such time in Eligible Investments pursuant to Section 8.7(c)), it being understood that the amount of such Liquidity Bank’s Cash Secured Advance shall be decreased by such Liquidity Bank’s Ratable Share of the funds paid from time to time from the Collateral Advance Account to Borrowers to make a Loan from time to time during the Term Period for such Liquidity Bank’s Conduit Group.
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Examples of Cash Secured Advance in a sentence

  • Such purchase price shall be payable in immediately available funds on the Cash Secured Advance Commencement Date for such Bank.

  • Following such notice, on the Cash Secured Advance Commencement Date for such Bank, such Bank shall, and agrees to, purchase from the Investor such Bank’s ratable share of all Receivable Interests then owned by the Investor for a purchase price equal to the sum of such Bank’s ratable share of the Capital of such Receivable Interests plus accrued and unpaid Yield and Fees thereon.

  • The Seller shall repay to each Term-Out Bank the aggregate outstanding principal amount of such Bank’s Cash Secured Advance on the Commitment Termination Date; provided, however, that recourse for such repayment shall be from, and shall be limited to, the Term-Out Bank Collateral and the Collections of the Pool Receivables in accordance with Section 2.04.

  • This approach enables developing a scalable and evolvable framework.

  • At least three Business Days prior to the Cash Secured Advance Commencement Date for any Bank, the Seller shall notify the Agent if the Seller wishes the purchase described in this Section 2.14 to occur.

  • Borrower hereby grants the applicable Related Bank, as security for all Obligations due and to become due to such Related Bank under the Credit Documents, a security interest in such Cash Secured Advance Account and the proceeds thereof and in the Short-term Permitted Investments made with the proceeds of a Cash Secured Advance and the proceeds thereof.

  • Upon any such mandatory prepayment, Administrative Agent shall release from the applicable Cash Secured Advance Account and deliver to the applicable Related Bank the amount then due and payable as a mandatory prepayment of its Cash Secured Advance, but only to the extent that after such release the amount remaining on deposit in such Cash Secured Advance Account is then at least equal to the remaining Available Construction Loan Commitment of the applicable Lender Group.

  • Notwithstanding the foregoing, in no event will the applicable interest rate on any Cash Secured Advance be less than 1.00%.

  • Such purchase price shall be payable in immediately available funds on the Cash Secured Advance Commencement Date for such Group.

  • Notwithstanding the interest rate specified above, when calculating interest on Cash Secured Advances, the applicable interest rate on each Cash Secured Advance prior to the Facility Termination Date or the occurrence of an Event of Default will not exceed the Prime Rate minus 1.00%.


More Definitions of Cash Secured Advance

Cash Secured Advance means, in respect of any Term-Out Lender, without duplication, the aggregate amount of the proceeds (a) of (i) the advance, if any, made by such Lender pursuant to Section 2.01(d) and (ii) such Lender’s Pro Rata Share of any applications of Collections of Receivables during the Term Period for its related Lender Group to reduce the Principal Balance in respect of any Loan made by such Lender hereunder and (b) on deposit at such time in the Collateral Advance Account (including any such proceeds invested by the Program Agent, at such time in Permitted Investments pursuant to Section 2.19(a), it being understood that the amount of such Lender’s Cash Secured Advance shall be decreased by such Lender’s Pro Rata Share of the funds paid from time to time from the Collateral Advance Account to the Borrower in connection with a Loan made from time to time during the Term Period for its related Lender Group).
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Cash Secured Advance means, in respect of any Liquidity Bank, the aggregate amount of the proceeds, without duplication: (a) (i) of the advance, if any, made by such Liquidity Bank pursuant to Section 1.1(b) and (ii) of such Liquidity Bank’s Ratable Share of any applications of Collections of Receivables during the Term Period for such Liquidity Bank’s Group to reduce the outstanding Principal of its Group’s Loans hereunder that is retained in the Collateral Advance Account, and (b) on deposit at such time in the Collateral Advance Account (including any such proceeds invested by the applicable Co-Agent at such time in Eligible Investments pursuant to Section 1.8(c)), it being understood that the amount of such Liquidity Bank’s Cash Secured Advance shall be decreased by such Liquidity Bank’s Ratable Share of the funds paid from time to time from the Collateral Advance Account to the Borrower to fund a Loan from time to time during the Term Period for such Liquidity Bank’s Group.
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Cash Secured Advance means, in respect of any Bank, without duplication, the aggregate amount of the proceeds (a) (i) of the advance, if any, made by such Bank pursuant to Section 2.01(d) and (ii) of such Bank’s Ratable Share of any applications of Collections of Receivables during the Term Period for such Bank’s Group to reduce the “Capital” in respect of the Receivable Interest hereunder and (b) on deposit at such time in the Collateral Advance Account (including any such proceeds invested by the Program Agent at such time in Eligible Investments pursuant to Section 6.07(c)), it being understood that the amount of such Bank’s Cash Secured Advance shall be decreased by such Bank’s Ratable Share of the funds paid from time to time from the Collateral Advance Account to the Seller to make a purchase of a Receivable Interest from time to time during the Term Period for such Bank’s Group. Table of Contents
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Cash Secured Advance is defined in Section 2.1.1(b) of this Agreement.
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Related to Cash Secured Advance

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Permitted Advance means an advance of funds by the Assuming Bank with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Bank to advance funds with respect to a Shared-Loss Loan, that (i) in the case of such an advance, is actually made, and, in the case of such a commitment, is made and all of the proceeds thereof actually advanced, within one (1) year after the Commencement Date, (ii) does not cause the sum of (A) the book value of such Shared-Loss Loan as reflected on the Accounting Records of the Assuming Bank after any such advance has been made by the Assuming Bank plus (B) the unfunded amount of any such commitment made by the Assuming Bank related thereto, to exceed 110% of the Book Value of such Shared-Loss Loan, (iii) is not made with respect to a Shared-Loss Loan with respect to which (A) there exists a related Shared-Loss Loan Commitment or (B) the Assuming Bank has taken a Charge-Off and (iv) is made in good faith, is supported at the time it is made by documentation in the Credit Files and conforms to and is in accordance with the applicable requirements set forth in Article III of this Commercial Shared- Loss Agreement and with the then effective written internal credit policy guidelines of the Assuming Bank; provided, that the limitations in subparagraphs (i), (ii) and (iii) of this definition shall not apply to any such action (other than to an advance or commitment related to the remediation, storage or final disposal of any hazardous or toxic substance, pollutant or contaminant) that is taken by Assuming Bank in its reasonable discretion to preserve or secure the value of the collateral for such Shared-Loss Loan.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.

  • Tranche B Advance has the meaning specified in Section 2.01(b).

  • Defaulted Advance means, with respect to any Lender Party at any time, the portion of any Advance required to be made by such Lender Party to the Borrower pursuant to Section 2.01 or 2.02 at or prior to such time that has not been made by such Lender Party or by the Administrative Agent for the account of such Lender Party pursuant to Section 2.02(e) as of such time. In the event that a portion of a Defaulted Advance shall be deemed made pursuant to Section 2.15(a), the remaining portion of such Defaulted Advance shall be considered a Defaulted Advance originally required to be made pursuant to Section 2.01 on the same date as the Defaulted Advance so deemed made in part.

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • Guaranteed Advance Payment Sum means: The maximum amount of R .........................................................................

  • Unliquidated Advance Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that made the Advance hereunder, on the one hand, and the Trust Fund, on the other, as part of a Workout-Delayed Reimbursement Amount pursuant to subsections (ii) (B) and (C) of Section 3.06(a) of this Agreement but that has not been recovered from the Mortgagor or otherwise from collections on or the proceeds of the Mortgage Loan or REO Property in respect of which the Advance was made.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Prime-based Advance means an Advance which bears interest at the Prime-based Rate.

  • Revolving Advance has the meaning given in Section 2.1.

  • Floating Rate Obligation Any Collateral Obligation that bears a floating rate of interest.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Subordinated Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Term Advance has the meaning specified in Section 2.01(a).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Senior Secured Loan Any assignment of or Participation Interest in a Loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the obligor of the Loan (other than with respect to trade claims, capitalized leases or similar obligations); (b) is secured by a valid first-priority perfected security interest or lien in, to or on specified collateral securing the obligor’s obligations under the Loan (subject to customary exceptions for permitted liens, including, without limitation, tax liens); (c) the value of the collateral securing the Loan at the time of purchase together with other attributes of the obligor (including, without limitation, its general financial condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the Loan in accordance with its terms and to repay all other Loans of equal seniority secured by a first lien or security interest in the same collateral; and (d) is not secured solely or primarily by common stock or other equity interests; provided that if such Loan is made to a parent entity that is secured solely or primarily by the stock of one or more of the subsidiaries of such parent entity to the extent that the granting by any such subsidiary of a lien on its own property would violate law or regulations applicable to such subsidiary (whether the obligation secured is such Loan or any other similar type of indebtedness owing to third parties), then the limitation set forth in this clause (d) shall not apply with respect to such Loan.

  • Liquidity Advance means a loan, advance, purchase or other similar action made by a Liquidity Provider pursuant to a Liquidity Agreement.

  • Local Currency Advance means any Advance, denominated in Pounds Sterling, Euro, or any other Agreed Currency which CIF requests the Local Currency Banks to include as a Local Currency and which is reasonably acceptable to the Local Currency Banks, made to CIF pursuant to Sections 2.03A and 2.03B of the Credit Agreement and this Addendum. A Local Currency Advance shall bear interest at the rate specified in Schedule II.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.