M&T Advance definition

M&T Advance has the meaning provided to such term in Section 2.02.
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Examples of M&T Advance in a sentence

  • All payments of principal, interest and any other amount with respect to each outstanding M&T Advance shall be payable to and received by the Administrative Agent for the account of M&T Bank.

  • Each Floor Plan Lender shall purchase an irrevocable and unconditional participation in each M&T Advance, in an amount equal to such Floor Plan Lender’s respective Floor Plan Loan Commitment Percentage of the principal amount of such M&T Advance, effective immediately upon the funding of each M&T Advance.

  • Unless M&T Bank elects to fund a submitted Loan Request as an M&T Advance in accordance with Section 2.02 of this Agreement, the Administrative Agent shall promptly notify each Floor Plan Lender of the Administrative Agent’s receipt of each notice and the contents thereof.

  • Nothing in this Section 2.02, including but not limited to the purchase of participations in an M&T Advance pursuant to this Section 2.02, shall relieve the Floor Plan Borrowers of any obligation for payments under the Floor Plan Loans and Floor Plan Loan Notes, or under the M&T Advances, or for any default by the Floor Plan Borrowers in the payment thereof.

  • Without limiting the discretion of the M&T Advance Lender whether or not to make a M&T Advance (as set forth in Section 2.02.1), so long as any Lender (other than M&T Advance Lender or any of its Affiliates) under the Floor Plan Facility is a Defaulting Lender, M&T Advance Lender shall not be required to fund any M&T Advance.

  • Each Lender shall purchase an irrevocable and unconditional participation in each M&T Advance, in an amount equal to each Lender’s respective Floor Plan Loan Commitment Percentage of the principal amount of such M&T Advance, effective immediately upon the funding of each M&T Advance.

  • Each Lender shall be deemed to have purchased an irrevocable and unconditional participation in each M&T Advance, in an amount equal to each Lender’s respective Floor Plan Commitment Percentage of the principal amount of such M&T Advance, effective immediately upon the funding of each M&T Advance.

  • Nothing in this Section 2.02, including but not limited to the purchase of participations in an M&T Advance pursuant to this Section 2.02 shall relieve the Floor Plan Borrowers of any obligation for payments under the Floor Plan Committed Loans and Floor Plan Notes, or under the M&T Advances, or for any default by the Floor Plan Borrowers in the payment thereof.

  • Unless M&T Bank elects to fund a submitted Loan Request as an M&T Advance in accordance with Section 2.02 of this Agreement, the Administrative Agent shall promptly notify each Lender of the Administrative Agent’s receipt of each notice and the contents thereof.

  • Nothing in this Section 2.02, including but not limited to the purchase of participations in an M&T Advance pursuant to this Section 2.02, shall relieve the Borrowers of any obligation for payments under the Floor Plan Loans and Floor Plan Loan Notes, or under the M&T Advances, or for any default by the Borrowers in the payment thereof.

Related to M&T Advance

  • 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.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Loan Advance The meaning specified in Section 2.2(a).

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

  • Revolving Advance has the meaning given in Section 2.1.

  • Term SOFR Advance means an Advance denominated in Dollars which, except as otherwise provided in Section 2.11, bears interest at the Adjusted Term SOFR Rate.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

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

  • Swing Line Advance has the meaning ascribed to it in Section 1.1(c)(i).

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

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.