Further Draw definition

Further Draw means additional amounts drawn by a Borrower under a Personal Secured Loan in aggregate up to the fixed amount of credit extended under the terms of the related Mortgage Conditions at the inception of the Borrower's Personal Secured Loan;
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Further Draw means additional amounts drawn by a Borrower in respect of a Personal Secured Loan in aggregate up to the fixed amount of credit extended under the terms of the related Mortgage Conditions at the inception of the Borrower's Personal Secured Loan;
Sample 1Sample 2Sample 3

Examples of Further Draw in a sentence

  • If, in respect of any Personal Secured Loan in the Trust Property which permits Further Draws, the relevant Borrower requests a Further Draw and the Administrator grants such request, the Seller will as Beneficiary fund such Further Draw in the Mortgages Trust by making payment to the Borrower of the Further Draw in accordance with the terms and conditions of the relevant Personal Secured Loan.

  • Upon payment by the Seller to the relevant Borrower of such Further Draw, the aggregate Current Balance of the Mortgage Loans constituting the Trust Property and the amount of the Seller Share of the Trust Property shall be increased by an amount equal to the amount of the Further Draw paid to the relevant Borrower.

  • For the avoidance of doubt, neither the Mortgages Trustee nor Funding will be required to advance moneys to the Seller or to a Borrower in order to fund such a Re-Draw or Further Advance or Further Draw in any circumstances whatsoever.

  • For the avoidance of doubt, neither the Mortgages Trustee nor any Funding Beneficiary will be required to advance moneys to the Seller or to a Borrower in order to fund such a Re-Draw or Further Advance or Further Draw in any circumstances whatsoever.

  • The amount of the claim in respect of a Re-draw or Further Draw will, in many cases, be the cost to the Borrower of finding an alternative source of funds.

  • If, in respect of any Personal Secured Loan included in the Mortgage Portfolio which permits Further Draws, the relevant Borrower requests a Further Draw and the Administrator grants such request, the Seller will as Beneficiary fund such Further Draw in the Mortgages Trust by making payment to the Borrower of the Further Draw in accordance with the terms and conditions of the relevant Personal Secured Loan.

  • Upon payment by the Seller to the relevant Borrower of such Further Draw, the aggregate Current Balance of the Mortgage Loans included in the Mortgage Portfolio and the amount of the Seller Share of the Trust Property shall be increased by an amount equal to the amount of the Further Draw paid to the relevant Borrower.

Related to Further Draw

  • Further Advance means, in relation to a Loan, any advance of further money to the relevant Borrower following the making of the Initial Advance, which is secured by the same Mortgage as the Initial Advance, excluding the amount of any retention in respect of the Initial Advance;

  • Further Tranche means any Tranche of a Series of ETP Securities issued after the Series Issue Date in accordance with Condition 16.

  • Loan repayment means the cancellation and repayment of loans

  • Drawing means the drawing or drawings specified in or annexed to the Specifications;

  • 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.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Facility Maturity Date means the earliest of (a) the Business Day designated by the Borrower to the Lender pursuant to Section 2.16(b) to terminate this Agreement, (b) the Stated Maturity or (c) the date on which the Facility Maturity Date is declared (or is deemed to have occurred automatically) pursuant to Section 7.01.

  • Drawings means the drawings prepared by the Architects and issued by the Engineer and referred to in the specifications and any modifications of such drawings as may be issued by the Engineer from time to time ‘Contract value shall mean value of the entire work as stipulated in the letter of acceptance of tender subject such additions there to or deductions there from as may be made under the provide herein after contained.

  • Loan Repayments means the sum of (i) Trust Bond Loan Repayments, (ii) the Administrative Fee and (iii) any late charges incurred under the provisions of a Loan Agreement.

  • Delayed Draw Term Lender means, at any time, any Lender that has a Delayed Draw Term Commitment or a Delayed Draw Term Loan at such time.

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Closing Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement.

  • Term A Loan Maturity Date means July 18, 2024 or, if such date is not a Business Day, the immediately preceding Business Day.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Term B Loan Maturity Date means December 7, 2023.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Term A Lender means (a) at any time on or prior to the Closing Date, any Lender that has a Term A Commitment at such time and (b) at any time after the Closing Date, any Lender that holds Term A Loans at such time.

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.

  • Term A Loans has the meaning specified in Section 2.01(b).

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Draw Period is the period of time from the Effective Date through the earlier to occur of (a) June 30, 2012, or (b) an Event of Default.

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Draw means the disbursement of funds to a Development.

  • Swing Loan Maturity Date means, with respect to any Swing Loan, the earlier of (i) the last day of the period for such Swing Loan as established by the Swing Line Lender and agreed to by the Borrower, which shall be less than 15 days, and (ii) the Revolving Facility Termination Date.