CP Advance definition
CP Advance means an Advance that bears interest at the CP Rate during such time as it bears interest at such rate, as provided in this Agreement.
CP Advance means a Series 2018-1 Class A-1 Advance that bears interest at the CP Rate during such time as it bears interest at such rate, as provided in the Series 2018-1 Class A-1 Note Purchase Agreement.
CP Advance has the meaning set forth in Section 1.02 of the Series 2022-1 Class A-1 Note Purchase Agreement.
Examples of CP Advance in a sentence
Any Advance actually funded by a Designated Lender shall constitute a utilization of the Commitment and, in the case of a CP Advance, the CP Commitment of the Designating Lender for all purposes under this Agreement.
Each Advance made by an SPC shall, unless the SPC otherwise directs, be a CP Advance.
The Lenders agree that such increase in the Commitments shall be a pro rata increase in the CP Advance Rate Commitments and the LIBO Rate Commitments.
On the terms and subject to the conditions of this Agreement, each Borrowing shall be comprised of the type of Advance and shall be made on the Business Day specified in such Borrowing Request (each such day, a "Funding Date"); provided that, notwithstanding the type of Advance specified in such Borrowing Request, to the extent that an Advance is provided by an SPC pursuant to the option referred to in Section 2.6(b), such Advance shall, unless the SPC otherwise directs, be a CP Advance.
More Definitions of CP Advance
CP Advance means a Series 2019-3 Class A-1 Advance that bears interest at a rate of interest determined by reference to the CP Rate during such time as it bears interest at such rate, as provided in the Class A-1 Note Purchase Agreement.
CP Advance has the meaning specified in Section 2.16.
CP Advance means that portion of the Advances which bear interest by reference to the CP Yield Rate.
CP Advance means an Advance that bears interest at the CP Rate during such time as it bears interest at such rate, as provided in this Agreement. “CP Funding Rate” means, with respect to each Conduit Investor, for any day during any Interest Accrual Period, for any portion of the Advances funded or maintained through the issuance of Commercial Paper by such Conduit Investor, the per annum rate equivalent to the weighted average cost (as determined by the related Funding Agent, and which shall include (without duplication) the fees and commissions of placement agents and dealers, incremental carrying costs incurred with respect to Commercial Paper maturing on dates other than those on which corresponding funds are received by such Conduit Investor, other borrowings by such Conduit Investor and any other costs associated with the issuance of Commercial Paper) of or related to the issuance of Commercial Paper that are allocated, in whole or in part, by such Conduit Investor or its related Funding Agent to fund or maintain such Advances for such Interest Accrual Period (and which may also be allocated in part to the funding of other assets of the Conduit Investor); provided, however, that if any component of any such rate is a discount rate, in calculating the “CP Funding Rate” for such Advances for such Interest Accrual Period, the related Funding Agent shall for such component use the rate resulting from converting such discount rate to an interest bearing equivalent rate per annum. “CP Rate” means, on any day during any Interest Accrual Period, an interest rate per annum equal to the sum of (i) the CP Funding Rate for such Interest Accrual Period plus (ii) 1.85%; provided that the CP Rate will in no event be higher than the maximum rate permitted by applicable law. “Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which may include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans at such time; provided that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. “Defaulting Administrative Agent Event” has the meaning set forth in Section 5.07(b). “Defaulting Investor” means any Investor that has (a) ...
CP Advance has the meaning set forth in Section 1.02 of the Series 2025-1 Class A-1 Note Purchase Agreement. “CP Rate” has the meaning set forth in Section 1.02 of the Series 2025-1 Class A-1 Note Purchase Agreement. “Daily Commitment Fees Amount” means, for any day during any Interest Accrual Period, the Undrawn Commitment Fees that accrue for such day. “Daily Post-Renewal Date Contingent Interest Amount” means, for any day during any Interest Accrual Period commencing on or after the Series 2025-1 Class A-1 Notes Renewal Date, the sum of (a) the result of (i) the product of (x) the Series 2025-1 Class A-1 Post-Renewal Date Contingent Interest Rate and (y) the Series 2025-1 Class A-1 Outstanding Principal Amount (excluding any Base Rate Advances and Undrawn L/C Face Amounts included therein) as of the close of business on such day divided by (ii) 360 and (b) the result of (i) the product of (x) the Series 2025-1 Class A-1 Post-Renewal Date Contingent Interest Rate and (y) any Base Rate Advances included in the Series 2025-1 Class A-1 Outstanding Principal Amount as of the close of business on such day divided by (ii) 365 or 366, as applicable. “Decrease” means a Mandatory Decrease or a Voluntary Decrease, as applicable. “Definitive Notes” has the meaning set forth in Section 4.2(c) (Issuance of Series 2025-1 Class A-2 Notes—Definitive Notes) of this Series Supplement. “Depository” means the depository or the custodian specified herein to whom the Notes of a Class of a Series, upon original issuance, may be issued and delivered. “DTC” means The Depository Trust Company and any successor thereto. “Estimated Class A-1 Daily Interest Amount” means (a) for the first Interest Accrual Period, the Class A-1 Daily Interest Amount as of the Series 2025-1 Closing Date and (b) for any other Interest Accrual Period, the Class A-1 Daily Interest Amount for the first day of the Quarterly Collection Period during which such Interest Accrual Period commenced. “Estimated Daily Commitment Fees Amount” means (a) for the first Interest Accrual Period, the Daily Commitment Fees Amount as of the Series 2025-1 Closing Date and (b) for any other Interest Accrual Period, the Daily Commitment Fees Amount for the first day of the Quarterly Collection Period during which such Interest Accrual Period commenced. “Funding Agent” has the meaning set forth in the preamble to the Series 2025-1 Class A-1 Note Purchase Agreement.
CP Advance means a Series 2018-1 Class A Advance funded or maintained through the issuance of Commercial Paper that bears interest at the CP Rate during such time as it bears interest at such rate, as provided herein. “CP Funding Rate” means, with respect to each Conduit Investor, for any day during any Interest Accrual Period, for any CP Advance funded by such Conduit Investor, the per annum rate equivalent to the weighted average cost (as determined by the related Funding Agent, and which shall include (without duplication) the fees and commissions of placement agents and dealers, incremental carrying costs incurred with respect to Commercial Paper maturing on dates other than those on which corresponding funds are received by such Conduit Investor, other borrowings by such Conduit Investor and any other costs associated with the issuance of Commercial Paper) of or related to the issuance of Commercial Paper that are allocated, in whole or in part, by such Conduit Investor or its related Funding Agent to fund or maintain such CP Advances for such Interest Accrual Period (and which may also be allocated in part to the funding of other assets of the Conduit Investor); provided, however, that if any component of any 4 DMSLIBRARY01\32647597
CP Advance means an Advance that bears interest at the CP Rate during such time as it bears interest at such rate, as provided in this Agreement. “CP Funding Rate” means, with respect to each Conduit Investor, for any day during any Interest Accrual Period, for any portion of the Advances