Future Advance definition

Future Advance means an Advance made after the Initial Closing Date.
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Future Advance means an indebtedness or other obligation that is secured by a mortgage and arises or is incurred after the mortgage has been recorded, whether or not the future advance was obligatory or optional on the part of the mortgagee.
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Future Advance shall have the meaning set forth in Section 2.1.2(c) hereof.
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Examples of Future Advance in a sentence

  • Each Future Advance Request shall be in the minimum amount of $3,000,000.

  • Each Future Advance Request shall be accompanied by (a) a designation of the amount of the Future Advance requested, and (b) a designation of the maturity date of the Advance.

  • During the existence of such Event of Default, Holder may apply payments received on any amounts due under the Note, the Mortgage, any Related Agreement or any note evidencing any Future Advance as Holder may determine in its sole discretion.

  • Borrower shall, immediately upon request by Lender, execute and deliver to Lender a promissory note evidencing each Future Advance together with a notice of such Future Advance in recordable form.

  • In addition, for so long as the Future Advance Obligation has not been fully discharged, (i) no Transfer of the Future Funding Note shall violate the Mortgage Loan Documents and (ii) the transferee shall assume all additional funding obligations pursuant to an assignment and assumption agreement whereby such transferee agrees to be bound by all provisions applicable to the Future Funding Note Holder.


More Definitions of Future Advance

Future Advance shall have the meaning assigned to such term in the recitals.
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Future Advance means the advance of money, credit or other value secured by a security agreement whether or not such advance is given pursuant to commitment; (“avance future”)
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Future Advance has the meaning expressed in section 16 of the PPSA. "Own" includes "having an interest in" and "owner" is interpreted accordingly
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Future Advance shall have the meaning specified in the definition of Future Advance Purchased Asset.
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Future Advance means, with respect to any Mortgage Loan, any advance of funds made pursuant to the terms of the related Loan Documents after the origination of such Mortgage Loan.
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Future Advance means the payment of money, the provision of credit, or the giving of value secured by a security interest, occurring after the security agreement has been concluded, whether or not provided or given under an obligation to do so;
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Future Advance or “Future Advances” shall mean, collectively, the Future Advance (Capital Expenditures), Future Advance (TI/LCs) and Future Advance (Interest/Carry Shortfall).
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