Delayed Advance definition

Delayed Advance has the meaning set forth in Section 1.1(b).
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Delayed Advance has the meaning provided in the Loan Agreement.
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Delayed Advance means the advance of Loans made available to the Borrower by the Delayed Advance Lenders after the Closing Date pursuant to Section 2.01(a)(ii) in an aggregate amount, whether made in one or two draws, not to exceed in the aggregate $275,000,000, as such amount may be adjusted from time to time in accordance with this Agreement.
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Examples of Delayed Advance in a sentence

  • The Delayed Advance is not in the nature of a revolving credit facility, and amounts borrowed and repaid hereunder may not be re-borrowed.

  • Each request for a Delayed Advance shall specify (i) the aggregate principal amount of the Delayed Advance requested and (ii) the requested date of such advance, which shall be a Business Day at least six (6) Business Days after the date of such request.

  • Each Delayed Advance is not in the nature of a revolving credit facility, and amounts borrowed and repaid hereunder may not be re-borrowed.

  • Participant B shall deliver to Participant A on September 30, 2014 (or such other date as directed by Participant A) the Participant B Delayed Advance Amount in immediately available funds to an account specified by Participant A in writing (which may be given by e-mail).

  • Each Delayed Advance shall be made on the requested date by wire transfer of immediately available funds to such account as the Borrower shall specify.

  • Interest on each Delayed Advance shall begin to accrue on the date that such Delayed Advance is made to Borrower.

  • Borrower and each Lender shall reasonably cooperate to amend the Loan Documents to effectuate the purposes of this clause (f), provided that any such amendment shall not increase the obligations and liabilities, or decrease the rights and remedies, of any Lender hereunder (except for the rights and obligations of any Lender that agrees, in its sole discretion, to accept a lower interest rate or increase the Maximum Delayed Advance Amount, and then, only to the extent necessary to effectuate the same).

  • Interest on the Delayed Advance shall begin to accrue on the date that such Delayed Advance is made to Borrower.

  • Interest on the Delayed Advance shall begin to accrue on the date that the Delayed Advance is made to Borrower.

  • Concurrently with the making of each Delayed Advance, Borrower shall pay to the Initial Lenders a funding fee in an aggregate amount equal to 1.00% of the amount of such Delayed Advance multiplied by the percentage of the Loan held by such Initial Lender as of the Closing Date.

Related to Delayed Advance

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

  • 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.

  • 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).

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

  • 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.

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

  • Term 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.

  • Tax Advance has the meaning set forth in Section 6.02(a).

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

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

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

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

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

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

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that such loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

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

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

  • Provider Advance means a Downgrade Advance or a Non-Extension Advance.

  • Eligible advance means an advance made before August 19, 1993.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.