Equity Advance definition

Equity Advance means a loan made by the related Originator to a Relocating Employee to fund the down payment on the Destination Home prior to the closing of the sale on the Origination Home.

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Equity Advance means an advance by an agent of the Company to a North American employee, with no obligation to repay, of sale proceeds not to exceed 90% of the net equity in the former residence of the employee, provided:

Equity Advance which are evidenced by a certain Promissory Note dated May 25, 1999 made payable by the Project Company to LAJA in (the "Project Company Note"), which Note is secured by that certain Security Agreement dated May 25, 1999 executed by the Project Company in favor of LAJA, pursuant to which the Project Company granted LAJA a security interest in all of its assets; such Note is also sometimes referred to as the "Interim Promissory Note"; and

Examples of Equity Advance in a sentence

• Each Advance following the Initial Advance shall be in an amount that is equal to the lesser of (a) the amount of the Commitment Amount not outstanding, or (b) the allowable Project Equity Advance for the applicable Project.

• On the requested date for the Equity Advance, provided that the Collateral Agent has not received a Drawstop Notice, the Collateral Agent shall cause Equity Contributions to be disbursed (i) from the Base Equity Account and, (ii) if the amount on deposit in the Base Equity Account shall be insufficient, after application of all monies on deposit in the Base Equity Account for such purpose, from the Overrun Equity Account, in the amounts required pursuant to Section 2.1(c).

• As used herein, the term "Equity Advance" is determined at any time by subtracting (i) the aggregate amount advanced by Greystone hereunder at any time, from (ii) the aggregate amount advanced by Seller to its Clients at such time.

• Seller agrees to maintain at all times an Equity Advance (as defined below) of at least $1,000,000 (the "Minimum Equity Advance"); provided, however, the Minimum Equity Advance if the Net Funds Employed increases to $8,000,000 or $9,000,000 will be $1,250,000 and $1,500,000, respectively.

• As of the date that is eight (8) Business Days prior to the requested date for the Equity Advance, to the extent that the Administrative Agent in its capacity as the Collateral Agent has determined that the amount on deposit in the Base Equity Account and the Overrun Equity Account are not sufficient to satisfy the requirements of Section 2.1(c), the Administrative Agent in its capacity as the Collateral Agent shall so notify the Borrower, the Sponsor and the Credit Parties.

More Definitions of Equity Advance

Equity Advance. Any disbursement of Base Equity or Overrun Equity from the Base Equity Account or the Overrun Equity Account pursuant to the terms of the Common Agreement. “Equity Commitments” The Base Equity Commitment and the Overrun Equity Commitment.

Equity Advance. A commitment from LACO to loan or contribute capital to the Company, in an amount of 25% of the Project Loan not to exceed $15,000,000.00 as provided and defined in the Letter Agreement.

Equity Advance means the amount of funds paid to an Employee pursuant to an Equity Loan or an Equity Funding and shall include any amount that is advanced for the purpose of paying off existing liens on the Home.

Equity Advance which are evidenced by a certain Promissory Note dated May 25, 1999 made payable by the Project Company to LAJA in (the "Project Company Note"), which Note is secured by that certain Security Agreement dated May 25, 1999 executed by the Project Company in favor of LAJA, pursuant to which the Project Company granted LAJA a security interest in all of its assets; such Note is also sometimes referred to as the "Interim Promissory Note"; and (vi) LAJA extended a $970,000 loan to KAR the repayment of which is evidenced by certain Promissory Note dated May 25, 1999 made payable by KAR to LAJA in the original principal amount of $970,000 (the "KAR Note"), which Note is secured by that certain Pledge Agreement dated May 25, 1999 executed by KAR in favor of LAJA (the "KAR Pledge Agreement") pursuant to which KAR granted LAJA a security interest in all of KAR's membership interest and related rights in and to the Project Company;

Equity Advance means an advance by an agent of the Company to a North American employee, with no obligation to repay, of sale

Equity Advance means a bridge loan extended by Venture Corp. to the Company, the proceeds of which will thereupon be contributed by the Company to a Venture Sub to fund (in part) the acquisition of a Target Property.

Equity Advance means a capital contribution made by Venture Corp. to the Company, the proceeds of which will thereupon be contributed by the Company to a Venture Sub to fund (in part) the acquisition of a Target Property.