Converted Advance definition

Converted Advance shall each have the meaning ascribed to such terms in Section 4.3.
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Converted Advance will mean a Revolving Advance where the rate of interest originally elected has been converted by means of a Conversion.
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Converted Advance shall each have the respective meaning ascribed to such terms in Section 3.8 in the case of the Canadian Borrower, in Section 5.6 in the case of the US Borrower in respect of Facility C Credit and Section 6.6 in the case of the US Borrower in respect of Facility D Credit.
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Examples of Converted Advance in a sentence

  • At the Initial Closing, the Company will also execute and deliver a separate secured convertible promissory note, also in the form attached as Exhibit A to this Agreement, to the Lead Purchaser in an amount equal to the Advance provided by the Lead Purchaser to the Company prior to the Initial Closing, together with any accrued and unpaid interest thereon (the “Converted Advance Note”), which such Converted Advance Note will serve as an amendment of and substitution for the Advance Note.

  • Any Warrant (other than the Converted Advance Warrant) issued to a Purchaser pursuant this Agreement is subject to immediate forfeiture and termination upon a Purchaser Subscription Default with respect to such Purchaser.

  • For further clarity, the Lead Purchaser will receive two separate Warrants at the Initial Closing, (i) a Warrant with respect to the Lead Purchaser’s purchase of an Initial Note at the Initial Closing through the funding of its Bridge Funding Commitment and (ii) a Warrant with respect to the issuance of the Converted Advance Note to the Lead Purchaser (the “Converted Advance Warrant”).

  • For the avoidance of doubt, the Advance will not be taken into account for purposes of calculating the Lead Purchaser’s Qualified Financing Commitment hereunder and a Purchaser Subscription Default on the part of the Lead Purchaser will not result in the termination or forfeiture of the Converted Advance Warrant.

  • Interest will accrue from the date of each Advance or Converted Advance under the Revolving Credit Facility.

  • Accrued interest on each Advance or Converted Advance will be due and payable monthly commencing on the first day of each calendar month following such Advance or Converted Advance; provided, however, that interest on Advances or Converted Advances will be due and payable upon payment in full of all such Advances or Converted Advances.

  • Notwithstanding any of the foregoing to the contrary, for each Non- Revolving Loan, in the event that: (i) no interest rate is selected, or (ii) an Interest Period expires and no new interest rate is selected in a Notice of Pricing Election with respect to an Advance or Converted Advance, the rate of interest payable on such Advance or Converted Advance under the applicable Non-Revolving Loan will be the rate for Base Rate Advances until otherwise elected in connection with a Conversion.

  • The Existing Term Advance and any Converted Advance shall each be referred to herein as a “Term Loan Advance” and, collectively, the “Term Loan Advances”, in each case made by Bank.

  • The Merger will become effective at such time as the certificate of merger is duly filed with the Secretary of State of Delaware or at such later time as Sxxx and MMI mutually agree and specify in the certificate of merger.

  • Interest will accrue from the date of each Advance or Converted Advance of each Loan.


More Definitions of Converted Advance

Converted Advance shall each have the respective meaning ascribed to such terms in Section 3.7. 1.1.50 “Conversion Date” – means a day which the Borrower has notified the Agent in a Notice of Conversion as the date on which the Borrower will convert Borrowings under a Credit Facility, or a portion thereof, in accordance with Section 3.7. 1.1.51 “Covid-19 Event” – shall have the meaning ascribed to it in Section 2.1.10. 1.1.52 “Credit Facility” – means the committed revolving credit facility in the maximum amount of sixty million CDollars (C$60,000,000) or the Equivalent Amount in USDollars, which the Lenders will make available to the Borrower pursuant to, and in accordance with the terms of, ARTICLE 3 and the other provisions of this Agreement. 1.1.53 “Current Accounts” – means collectively (i) the CDollars and USDollars accounts maintained by the Borrower with BNS at the Branch of Account for the purposes of operating the Credit Facility and, (ii) with respect to the Swingline Loan, the CDollars and USDollars accounts maintained by the Borrower with BNS at the Branch of Account. 1.1.54 “DBNA” – means the Depository Bills and Notes Act (Canada). 1.1.55 “Debt” – means all indebtedness of any Obligor and includes, without duplication (in each case, whether such indebtedness is with full or limited recourse):
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Converted Advance and “Converted Advances” are defined in Section 2.1.5(a).
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Converted Advance shall each have the respective meaning ascribed to such terms in Section 3.7. 1.1.54 “Conversion Date” – means a day which the Borrower has notified the Agent in a Notice of Conversion as the date on which the Borrower will convert Borrowings under the Credit Facility, or a portion thereof, in accordance with Section 3.7.
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Related to Converted Advance

  • 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.

  • 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.

  • 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.

  • 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).

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

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

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

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

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

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

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

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

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

  • 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.

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

  • 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.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

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

  • ABR Loan means any Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.