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, 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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Cash Secured Advance means an advance made by Lender to Borrowers under Section 1.1(b) of this Agreement.
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Examples of Cash Secured Advance in a sentence

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

  • In no event shall the Bank have any obligation to make any Cash Secured Advance if a Cash Secured Deficiency would be created thereby.

  • 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%.

  • Bank, in addition to the other terms of this Agreement, will have no obligation to issue the proposed Letter of Credit if, after giving effect to such proposed Letter of Credit, the Cash Secured Advance Availability will be less than zero Dollars.

  • The Borrower shall have delivered to the Bank evidence in form and substance acceptable to Bank that aggregate Cash Secured Advance Availability and Regular Advance Availability as of the Closing Date is at least $4,000,000.

  • Until the termination of this Agreement pursuant to Article XI and subject to the other terms and conditions of this Agreement, Bank will make loans (each a “Cash Secured Advance”, collectively, the “Cash Secured Advances”) to Borrower, which Cash Secured Advances Borrower may reborrow on or at any time after the repayment thereof, in an aggregate amount which may not as of any time exceed an amount equal to the Cash Secured Advance Availability then in effect.

  • Except as set forth in Section 3.1(b) below, interest on each Cash Secured Advance hereunder shall accrue at an annual rate equal to the Applicable Cash Secured Advance Margin plus the LIBOR Rate.


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.

  • 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.

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

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

  • 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 Advance means an Advance which bears interest at the Floating Rate.

  • 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 means any interest in a loan, including any assignment of or participation in or other interest in a loan, that (i) is not (and is not expressly permitted by its terms to become) subordinate in right of payment to any obligation of the obligor in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings (other than pursuant to a Permitted Working Capital Lien and customary waterfall provisions contained in the applicable loan agreement), (ii) is secured by a pledge of collateral, which security interest is (a) validly perfected and first priority under Applicable Law (subject to liens permitted under the applicable credit agreement that are reasonable for similar loans, and liens accorded priority by law in favor of any Governmental Authority) or (b)(1) validly perfected and second priority in the accounts, documents, instruments, chattel paper, letter-of-credit rights, supporting obligations, deposit accounts, investments accounts and any other assets securing any Working Capital Revolver under Applicable Law and proceeds of any of the foregoing (a first priority lien on such assets a "Permitted Working Capital Lien") and (2) validly perfected and first priority (subject to liens for taxes or regulatory charges and any other liens permitted under the related underlying instruments that are reasonable and customary for similar loans) in all other collateral under Applicable Law, and (iii) the Portfolio Manager determines in good faith that the value of the collateral for such loan (including based on enterprise value) on or about the time of acquisition equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by a first priority Lien over the same collateral. For the avoidance of doubt, debtor-in-possession loans and FLLO Loans shall constitute Senior Secured Loans.

  • 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.

  • Japan Local Currency Advance means any Advance, denominated in Japanese Yen, made to CFKK pursuant to Sections 2.03C and 2.03D of the Credit Agreement and this Addendum. A Japan Local Currency Advance shall bear interest at the rate specified in Schedule II.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

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

  • Secured Loan has the meaning specified in Section 2(e) hereof.