Discount Advance definition

Discount Advance means an Advance made on a discounted basis by a Balance Bank, a portion of which (or all of which, in the case of Discount Advances made by Non-Lender Balance Banks) shall be simultaneously sold to the other Lenders, all pursuant to Section 2.4 hereof, and to be repaid at the end of the applicable Discount Loan Period.
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Examples of Discount Advance in a sentence

  • Furthermore, the Seller Representative hereby grants to the Administrative Agent (for the benefit of the Purchasers) a security interest in, and right of setoff with respect to, the Refundable Discount Advance Account and all proceeds therein to secure the payment of the Aggregate Unreimbursed Purchase Discount by each Seller hereunder.

  • The Refundable Discount Advance shall be held in a blocked account established with the Administrative Agent and maintained in the name of the Seller Representative (the “Refundable Discount Advance Account”).

  • The Refundable Discount Advance Account shall at all times be blocked with respect to the Seller Representative, such that only the Administrative Agent will be permitted to transfer funds out of the Refundable Discount Advance Account.

  • The Refundable Discount Advance will be promptly repaid by the Administrative Agent to the Seller Representative upon payment in full by the Seller Representative of the Aggregate Unreimbursed Purchase Discount in accordance with Section 2.8.

  • As an additional a condition precedent to each increase in the Aggregate Commitments, the Sellers shall have deposited an amount equal to 0.4% of such increase in the Aggregate Commitments into the Refundable Discount Advance Account to serve as additional Refundable Discount Advance.

  • Each Balance Bank (other than Non-Lender Balance Banks) shall retain its Adjusted Commitment Percentage share of the Face Amount of each Discount Advance, which shall constitute a Discount Loan owing to the Balance Bank.

  • Accordingly, each Discount Advance shall bear no interest prior to the expiration of the applicable Discount Loan Period.

  • The amount of the Discount Advance actually disbursed to the Company on the Advance Date therefor (which amount shall necessarily be less than the Face Amount) shall be equal to the amount requested by the Company in the Advance Notice requesting such Discount Advance, and the Face Amount shall be determined by the Agent based on the Balance Bank Discount.

  • A portion of each Discount Advance (or, in the case of Non-Lender Balance Banks, the entire Discount Advance made in accordance with the terms of this Agreement), shall be sold simultaneously with the funding by the Balance Bank to the other Lenders (each a "Purchasing Lender") on a pro rata basis in accordance with each such Lender's Adjusted Commitment Percentage.

  • Subject to the terms and conditions herein (including the Lending Sublimits) and the terms and conditions of any Balance Bank Agreement, the Company may request a Discount Advance from any Balance Bank; provided that Discount Advances shall be made only on the tenth day of each calendar month or, if such tenth day is not a Business Day, on the next succeeding Business Day thereafter.

Related to Discount Advance

  • Discount Loan The Loans having Pass-Through Rates of less than 6.75%.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

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

  • Equipment Advance is defined in Section 2.1.1.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • 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.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

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

  • Revolving Advance has the meaning given in Section 2.1.

  • Maximum Revolving Advance Amount means $25,000,000.

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

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

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

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

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

  • Payment/Advance Form is that certain form attached hereto as Exhibit B.

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

  • 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).

  • Applicable Advance Rate For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %

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

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

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

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

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

  • Discounted Prepayment Determination Date has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.