Interim Advances definition
Examples of Interim Advances in a sentence
After payment of such amount, no further Service Fees or Interim Advances shall be paid under this Agreement.
Agent, as a non-fiduciary agent for Borrower, shall maintain a register showing the principal amount of the Loans owing to each Lender, and Interim Advances and/or Extraordinary Advances owing to Agent, and the interests therein of each Lender, from time to time and such register shall, absent manifest error, conclusively be presumed to be correct and accurate.
During the period between Settlement Dates, Agent with respect to Interim Advances and Extraordinary Advances, and each Lender with respect to the Loans other than Interim Advances and Extraordinary Advances, shall be entitled to interest at the applicable rate or rates payable under this Agreement on the daily amount of funds employed by Agent, or the Lenders, as applicable.
All Loans (other than Interim Advances and Extraordinary Advances) shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares.
Furthermore, this Court has recognized that “[c]omplete prospective application has generally been limited to decisions which overrule clear and uncontradicted case law.” Hyde v Univ of Mich Bd of Regents, 426 Mich 223, 240; 393 NW2d 847 (1986).