Milestone Advances definition

Milestone Advances means, as of any date of determination and for each Originated Customer Loan, each payment made by Borrower to an Installer in connection with such Originated Customer Loan, following the satisfaction of the “Initial Approval”, “Initial Completion” and/or “Permitting Completion” milestones under the applicable Installer Agreement.
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Milestone Advances means an advance or advances made to Borrower pursuant to the terms of this Agreement for purposes of paying Lender amounts owed upon a Milestone as set forth on the Milestone Payment Schedule under the Procurement Agreement.
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Milestone Advances means, as of any date of determination and for each Originated Customer Loan, each payment made by Borrower to an Installer in connection with such Originated Customer Loan, following the satisfaction of the “Initial Approval”, “Initial Completion” and/or “Permitting Completion” milestones under the applicable Installer Agreement. “Minimum Cash Threshold” means that Borrower maintains unrestricted cash in an aggregate amount of not less than $[***] in either Deposit Accounts (other than any Excluded Accounts) maintained with either (a) Bank or its Affiliates or (b) a third-party financial institution and for which the Bank has received a Control Agreement or other appropriate instrument with respect to such Deposit Account to perfect Bank’s Lien in such Deposit Account. “Modified Advance” means, as of any date of determination, an Installer Advance in respect of which (a) such Installer Advance or the Originated Customer Loan relating thereto has been extended, amended, waived, or modified in any respect from its original terms or (b) Borrower or Installer has a retained discretionary right to modify such Receivable. “Monthly Advance and Takeout Report” is defined in Section 5.3(b). “Monthly Cancellation Report” means a monthly report duly executed by a Responsible Officer of Borrower in form and substance satisfactory Bank setting forth the monthly average rates of Customer Cancellations for the twelve-month period most recently ended. “Net Income” means, as calculated on a consolidated basis for Borrower for any period as at any date of determination, the net profit (or loss), after provision for taxes, of Borrower for such period taken as a single accounting period. “Obligations” are Borrower’s obligations to pay when due any debts, principal, interest, fees, Bank Expenses, the Termination Fee, the Unused Revolving Line Facility Fee, and other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents, or otherwise, including, without limitation, all obligations relating to Bank Services and interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower’s duties under the Loan Documents. “OFAC” is the Office of Foreign Assets Control of the United States Department of the Treasury and any successor thereto. “Operating Documents” are, for any Person, such Person’s formation documents, as certified by the Secretary of State (or equivalen...
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Examples of Milestone Advances in a sentence

  • Milestone Advances shall be deducted from Royalties earned at any time during the term of this Agreement (or payable thereafter as provided herein).

  • To the extent that either or both the Annual Advances and Milestone Advances cannot be deducted from earned Royalties because of an insufficiency of Net Sales of Licensed Products, the non-deducted amounts of such advance payments shall not be refundable by Licensor.

  • Upon payment of the Accelerated Change of Control Payment, Licensor will no longer be entitled to any additional Annual Advances or Milestone Advances and a total of $450,000 (including any Royalties that have already been deducted as of the occurrence of the change of control) will be deducted from Royalties earned at any time during the term of this Agreement (or payable thereafter as provided herein).

Related to Milestone Advances

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Revolving Advances means Advances made other than Letters of Credit.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Incremental Revolving Loans has the meaning assigned to such term in Section 2.22(a).

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

  • Tranche A Advance means an Advance made by a Bank under Tranche A.

  • Prime-based Advance means an Advance which bears interest at the Prime-based Rate.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Additional Revolving Loans means any revolving loan added hereunder pursuant to Section 2.22, 2.23 or 9.02(c)(ii).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Term Loan as defined in Section 2.1.

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • Revolving Credit Advances means advances of principal on the Revolving Credit Loan by the Bank under the terms of this Loan Agreement to the Borrower during the term of the Revolving Credit Loan pursuant to Section 3.1.

  • 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.

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

  • Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).

  • New Revolving Loans as defined in Section 2.25.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.