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

  • 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.

  • 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.

  • 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.

  • 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

  • Loan repayment means the cancellation and repayment of loans

  • 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 to occur of (i) the Stated Maturity Date, (ii) the date of the declaration, or automatic occurrence, of the Facility Maturity Date pursuant to Section 7.01, (iii) the Collection Date and (iv) the occurrence of the termination of this Agreement pursuant to Section 2.18(b) hereof.

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

  • 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.

  • Total Extensions of Credit at any time, the aggregate amount of the Extensions of Credit of the Lenders outstanding at such time.

  • Loan Maturity Date means the date on which the entire unpaid balance of the Loan, including principal and interest, is due and payable.

  • 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.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • 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 January 1, 2011, unless extended by Lender pursuant to any modification, extension or renewal note executed by the Borrower and accepted by Lender in its sole and absolute discretion in substitution for the Revolving Note.

  • 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.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • 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.

  • Other Revolving Loans means the Revolving Loans made pursuant to any Other Revolving Commitment.

  • 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.