Future Advance Amount definition

Future Advance Amount means, an amount equal to (1) the sum of (A) amounts on deposit in any Future Funding Reserve Account and the Suspense Account, (B) the Future Funding Letter of Credit Amount, (C) amounts on deposit in a subaccount of the Uninvested Proceeds Account and (D) the Aggregate Class A-R Undrawn Amount and (2) such lesser amount for which Rating Confirmation is received.

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Future Advance Amount the meaning set forth in Section 2.1 of this Agreement. GAAP: generally accepted accounting principles in the United States of America as of the date of the applicable financial report.

Future Advance Amount. With respect to a Delayed Draw Term Loan or Related Future Advance Loan, the money required to be funded to the borrower pursuant to the terms of such Delayed Draw Term Loan or Related Future Advance Loan.

Examples of Future Advance Amount in a sentence

Such Future Advance, together with all other Future Advances previously made hereunder, shall not exceed the Future Advance Amount.
Other than PBB’s obligation to fund the Future Advance Amount, the Lenders are not obligated to make any further advances or Future Advances.
In no event shall Lender have any obligation to make Future Advances (w) that are not for Approved CapEx Expenses, (x) in the aggregate in excess of the Future Advance Amount, (y) for the PIP Work in the aggregate in excess of the PIP Work Future Advance Amount and (z) for the Elective CapEx Work in the aggregate in excess of the Elective CapEx Work Future Advance Amount.
Upon receipt of evidence satisfactory to the Agent that the Future Advance Loan has been funded in whole or part by the Seller, such funded amounts shall at that time be allocated to the Maximum Amount and any remaining amount of the Future Advance Loan shall continue to be allocated to the Maximum Future Advance Amount.
For the avoidance of doubt, and notwithstanding anything to the contrary contained herein, the amount of the Future Advances up to the Elective CapEx Work Future Advance Amount that Borrower does not (or is deemed to not) request that Lender force fund pursuant to this Section 2.5.8 shall be terminated and of no further force and effect.
In no event shall (A) the total amount advanced under the Loans, including the Initial Advance and all Future Advances, exceed $1,500,000,000 in the aggregate, (B) the aggregate principal amount of Future Advances exceed the Maximum Future Advance Amount, or (C) the Lenders be obligated to make any Future Advances after the Final Draw Date.
Administrative Agent shall endeavor to locate one or more Eligible Assignees, acceptable to Administrative Agent in its sole and absolute discretion, which are willing to become Lenders hereunder with Commitments of up to an aggregate amount equal to the sum of (x) the Future Advance Amount and (y) $10,000,000.
On or prior to the Final Draw Date and upon request by Borrower and compliance by Borrower and Property Guarantors with the terms and conditions of this Section 2.1(1)(b), Borrower shall have the right to request no more than two Future Advances in the aggregate principal amount not to exceed the Maximum Future Advance Amount.
For the avoidance of doubt, with respect to each Future Advance Loan, any amounts initially allocated against the Maximum Future Advance Amount and subsequently reallocated to the Maximum Amount following the funding of all or a portion of the future advances under such Future Advance Loan, such amounts will again be available under the Maximum Future Advance Amount, in accordance with this clause (m), to be allocated against subsequent Future Advance Loans.
Borrower shall pay to Administrative Agent, for the pro rata account of Lenders, an unused fee (the “Unused Fee”) computed daily on the Future Advance Amount at a rate per annum equal to 0.40%, calculated on the basis of a year of 360 days for the actual number of days elapsed.

More Definitions of Future Advance Amount

Future Advance Amount means, with respect to any Earn-Out Asset, the amount of money required to be funded to the borrower pursuant to the terms of the Earn-Out Asset after the initial funding of the Earn-Out Asset.

Future Advance Amount means an amount equal to the least of (x) $25,000,000, (y) the Syndication Increase Amount (which shall be deemed to be zero if no Syndication Increase Amount has been determined pursuant to Section 1.4) and (z) the maximum amount, as determined by Administrative Agent, which, when added to the Initial Advance Amount portion of the Principal Debt, would not result in a breach of the Loan to Value Ratio covenant in Section 2.5(a) or a breach of the Debt Service Coverage Ratio in Section 2.5(b), provided, however, that (i) the amount set forth in clause (x) above shall be reduced monthly as set forth in Section 1.12, (ii) Borrower may further reduce the Future Advance Amount by specifying the amount of such reduction in a notice from Borrower to Lender given prior to the completion of a Successful Syndication and (iii) upon Lenders making the Future Advance to Borrower, the Future Advance Amount shall not be further adjusted.

Future Advance Amount shall have the meaning set forth in Section 2.1.2 hereof.