Future Advances definition

Future Advances means debts or obligations secured by a mortgage that arise subsequent to the execution and recording of the mortgage; except that the term does not include protective advances or contingent obligations. The term "future advances" includes only those advances made to or for the account of debtors designated in the mortgage. Future advances have priority as provided in this section.[PL 1993, c. 229, §3 (NEW).]

Future Advances means future obligations and future advances that the Mortgagee or any Other Secured Person may make pursuant to any Secured Transaction Document.

Future Advances means any amount that CDF is obligated to pay to a Vendor pursuant to this Agreement within a certain period after an Approval is issued by CDF.

Examples of Future Advances in a sentence

• Such Future Advances, with interest thereon, shall be secured by this Mortgage when evidenced by promissory notes stating that said notes are secured hereby.

• By signing this Agreement, borrower(s) promise to pay said Credit Union, in monthly installments, all sums borrowed under this Note, as well as all Future Advances, plus FINANCE CHARGES.

• The Loan is secured by that certain Future Advances Deed of Trust, Security Agreement, Assignment of Leases and Fixture Filing (the “Mortgage”) from Borrower, which was recorded in the Register of Deeds of Durham County, North Carolina at Book 5844, Page 778.

• Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.

• All Future Advances shall be made, if at all, within twenty (20) years after the date of this Instrument, or within such lesser period that may in the future be provided by law as a prerequisite for the sufficiency of actual or record notice of Future Advances as against the rights of creditors or subsequent purchasers for value.

More Definitions of Future Advances

Future Advances means future obligations and future advances that the Mortgagee or any other Secured Party may make pursuant to any Secured Transaction Document.

Future Advances means Capital Trust’s commitment to make future advances on Purchased Assets and assets under other Senior Secured Facilities as specified therefor on Exhibit XV.

Future Advances means, collectively, the Future Advance (Capital Expenditures), Future Advance (TI/LCs) and Future Advance (Interest/Carry Shortfall).

Future Advances shall have the meaning set forth in Section 2.1.8.

Future Advances. Any amount loaned to Borrower after the date of this Mortgage, which, unless otherwise agreed, will accrue interest at the rate set forth in the Note.

Future Advances has the meaning ascribed to such term in the granting clause on page 2 of the Instrument.

Future Advances means CT’s commitment to make future advances on Transaction Assets and assets under other Senior Secured Facilities, as detailed in Exhibit G.