Initial SMI Funds Advance means, for any Member, the amount of Special Membership Interest Funds advanced to the Company by such Member on or prior to the Initial Capital Contribution Date.
Initial Advance means the first Advance made pursuant to Article II.
Additional Advance means each additional loan that is made under an RBC Homeline Plan after the initial advance, including any new or additional advances, increases to principal, or further borrowings or extensions of the term, including in the case of any fluctuating account or accounts, revolving loans, or lines of credit, additional segments of such facilities made after the initial advance. They are referred to collectively as Additional Advances.
Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.
Tranche A Advance means an Advance made by a Bank under Tranche A.
Disbursement Date is defined in Section 2.6.2.
L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.
Agent Advance shall have the meaning provided in Section 2.01(e).
PMI Advance As defined in the related Servicing Agreement, if applicable.
RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.
Revolving Advance has the meaning given in Section 2.1.
Tranche A Loan shall have the meaning set forth in Section 2.01(a).
Loan Advance The meaning specified in Section 2.2(a).
Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.
Initial Loan is defined in Section 2.1.
Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.
Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.
Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.
P&I Advance Date The Business Day immediately prior to each Distribution Date.
Advance Date means the funding date of any Advance.
Final Advance means an Advance made pursuant to Section 2.02(d).
Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.
Non-Extension Advance means an Advance made pursuant to Section 2.02(b).
Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).
Interest Drawing has the meaning assigned to such term in Section 3.6(a).
Disbursement Period means the period during which Grant Funds may be disbursed.
Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.