Further Advances means the amount shown as further advances in a change disclosure statement.
Further Advances means any additional amounts contributed by the Holders of the Subordinated Notes on any Business Day, for the benefit of all Noteholders (with written notice to the Collateral Administrator, the Collateral Manager and the Trustee), to the Principal Collection Account as Collateral Principal Collections or the Interest Collection Account as Collateral Interest Collections, which amounts are not required to be repaid to the contributing Holders of Subordinated Notes and which amounts may be used to: (i) purchase additional Collateral Debt Obligations, (ii) satisfy a failing Collateral Coverage Test or the Interest Diversion Test, (iii) cure a Ramp-Up Confirmation Failure or (iv) for any other purposes contemplated by this Indenture (including, without limitation, Section 2.9 or to pay expenses of a Refinancing or a Re-Pricing); provided, that, unless the consent of the Requisite Noteholders is obtained, Further Advances (1) may not be made to cure or prevent the occurrence of a Default or an Event of Default and (2) may be made only if the Class E Principal Coverage Test is satisfied after giving effect thereto.
Further Advances means any additional amounts contributed by the Holders of theany Holder of Subordinated Notes on any Business Day, for the benefit of all Noteholders (with written notice to the Collateral Administrator, the Collateral Manager and the Trustee), to which amounts shall be (x) for the benefit of all Noteholders and (y) deposited into the Principal Collection Account as Collateral Principal Collections or the Interest Collection Account as Collateral Interest Collections, which amounts are; provided that each Further Advance (i) shall be in an amount at least equal to $1,000,000, (ii) is not required to be repaid to thesuch contributing Holders of Subordinated Notes and which amountsHolder and (iii) may be used for the following purposes: (ia) to purchase additional Collateral Debt Obligations, (iib) to satisfy a failing Collateral Coverage Test or the Interest Diversion Test or (iiic) for any other purposes contemplated by this Indenture (including, without limitation, Section 2.9 or to pay expenses of a Refinancing or a Re-Pricing).
Examples of Further Advances in a sentence
Subject to complying with the terms of Clauses 8.1 and 8.3 herein, the Administrator may accept requests from Borrowers for Product Switches and Further Advances provided that the Administrator acts in accordance with its then procedure which would be acceptable to a reasonable and prudent mortgage lender.
Indexed and unindexed LTVs include all Further Advances on a Loan - but exclude any flexible drawdown reservoir.
Prior to 2008, Further Advances were made on existing Loans based on the indexed LTV without carrying out a formal valuation.
The Issuer will use Principal Receipts and amounts standing to the credit of the Retained Principal Receipts Ledger towards the purchase of New Loans and Further Advances from each Seller, if offered for sale.
CRR = 1 - [(Closing Pool Balance - Stage Payments) / (Closing Pool Balance - Further Advances + Redemptions)]^n*PRR = 1 - [(Closing Pool Balance - Stage Payments) / (Closing Pool Balance - Further Advances + Redemptions)] (ii) Constant Default RateThe percentage of outstanding mortgage loan principal that defaults in one year.
More Definitions of Further Advances
Further Advances means any Advance or other extension of credit ---------------- hereunder other than (a) any Advance made from and after the Closing Date up to an aggregate maximum amount of $1,000,000 made pursuant to the provisions of Sections 2.6(d) and 2.12(a), or (b) the issuance of those certain Letters of --------------- ------- Credit in favor of Existing Lender on the Closing Date, or (c) the Term Loan.
Further Advances means the additional funds advanced to a Borrower by Britannic Money or First Active, as applicable on the security of his/her Mortgage subject to the satisfaction of certain conditions.
Further Advances means any additional amounts contributed by a Holder [or beneficial owner] of the Subordinated Notes on any Business Day, for the benefit of all Noteholders (with written notice to the Collateral Administrator, the Collateral Manager and the Trustee), to the Principal Collection Account as Collateral Principal Collections or the Interest Collection Account as Collateral Interest Collections, which amounts are not required to be repaid to the contributing Holders of[shall be required to be repaid only in accordance with the Priority of Payments (together with, in connection with a Further Advance for the purpose specified in clause (ii) or (iii) below, such rate of return as agreed to in writing between such Holder or beneficial owner and a Majority of the Subordinated Notes, a copy of which shall be provided to the Trustee and the Collateral Manager) and which amounts may be used, at the written direction of the contributing Holder or beneficial owner of Subordinated Notes]: (i) to purchase additional Collateral Debt Obligations, (ii) to satisfy a failing Collateral Coverage Test or the Interest Diversion Test, (iii) to cure a Ramp-Up Confirmation Failure or (iv) for any other purposes contemplated by this Indenture (including, without limitation, Section 2.9 or to pay expenses of a Refinancing or a Re-Pricing)[; provided, further, that Holders of Subordinated Notes that contribute Further Advances must hold their interests in (or if applicable, exchange their interest for), Subordinated Notes in the form of a Definitive Note].
Further Advances means any additional amounts contributed by a Holder or beneficial owner of the Subordinated Notes on any Business Day, for the benefit of all Noteholders (with written notice to the Collateral Administrator, the Collateral Manager and the Trustee), to the Principal Collection Account as Collateral Principal Collections or the Interest Collection Account as Collateral Interest Collections, which amounts shall only be required to be repaid only in accordance with the Priority of Payments and which amounts may be used, at the written direction of the contributing Holder or beneficial owner of Subordinated Notes, to: (i) to purchase additional Collateral Debt Obligations, (ii) to satisfy a failing Collateral Coverage Test or the Interest Diversion Test, (iii) to cure a Ramp-Up Confirmation Failure or (iv) for any other purposes contemplated by this Indenture (including, without limitation, Section 2.9 or to pay expenses of a Refinancing or a Re-Pricing); provided, that, unless the consent of a Supermajority of the Controlling Class is obtained, that Further Advances (1) may not be made to cure or preventfor the occurrence of a Default or an Event of Default and (2) may be made only if thepurpose of satisfying a failing Senior Principal Coverage Test, Class C Principal Coverage Test, Class D Principal Coverage Test or Class E Principal Coverage Test is satisfied after giving effect thereto; provided, further, that Holders of Subordinated Notes that contribute Further Advances must hold their interest in (or, if applicable, exchange their interest for) Subordinated Notes in the form of a Definitive Note.pursuant to clause (ii) above shall be in an amount greater than or equal to U.S.$1,000,000.
Further Advances. ’ means the add¡t¡onaI funds advanced to a Borrower by Br¡tann¡c Money or F¡rst Act¡ve, as appI¡cabIe, on the secur¡ty of h¡s/her Mortgage subject to the sat¡sfact¡on of certa¡n cond¡t¡ons.
Further Advances means any costs or expenses paid by Fletchers with the concurrence of the parties in respect of the site or the development and includes any outgoings in relation to the site together with interest at the interest rate.
Further Advances means the additional funds advanced to a Borrower by Mortgage Trust on the security of his/her Mortgage subject to the satisfaction of certain conditions.