New Advance definition

New Advance has the meaning assigned to that term in Section 2.20(b).

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New Advance means, in relation to any date, an Advance of the Revolving Facility that is to be Utilised on that date.

New Advance has the meaning set forth in Section 1(b).

Examples of New Advance in a sentence

• Under the Agriculture Marketing Programs Act (AMPA), the Spring Credit Advance Program (SCAP), Enhanced Spring Credit Advance Program (ESCAP), Advance Payments Program (APP) and the New Advance Payments Program (NAPP), the Producer is responsible for ensuring that all individual producers, related producers, associates with interest in the Agricultural Product in question and associated advances are clearly identified.

• This will be treated as satisfying pro tanto the obligations of the Borrower to repay the Old Advance and of the Lenders to make the New Advance.

• If any part of the amount paid to the Agent by the Lenders in order to make the New Advance is not needed to purchase the amount required to be repaid by the Borrower, the Agent will promptly notify the Borrower and pay the Borrower on the day the New Advance is to be made that part of that amount (in the currency of the New Advance).

• The Purchasers shall advance all of the New Advance to the Company at the Closing or on such date thereafter as the Company shall request; provided, the Company shall not pay any more funds to Avantel after the date hereof until the condition in clause (j) above is satisfied.

• The proceeds of the New Advance will be used by the Company for working capital and other general corporate purposes.

• The last sentence in Section 1.3 of the Agreement is amended and restated to read as follows: On the New Advance Funding Date, Borrower shall pay to Lenders a fee in the amount of $30,000, to be allocated between the Lenders in accordance with their respective Pro Rata Share.

• Subject to the terms and conditions of this Agreement (including, without limitation, Section 2.13(a) and Article 6), each Tranche A Lender severally agrees to make one or more loans to the Borrower from time to time from and including the New Advance Date to but excluding the Tranche A Commitment Termination Date up to but not exceeding the amount of such Tranche A Lender's Tranche A Commitment as then in effect.

• In addition, at the Closing, the Purchasers shall deliver a statement of the Estimated Expense Reimbursement Fee (which is expected to be approximately $35,000), which sum shall be deemed advanced by the Purchasers to the Company as part of the New Advance at the Closing.

• The Administrative Agent shall promptly notify the Borrower and the Lenders of the amount and effective date (the “New Advance Funding Date”) of any New Advance.

• Specifically, at the Closing the Company shall provide a detailed use of the proceeds of the New Advance and direct payment instructions for various account payees, their addresses, the amounts to be so paid, wire transfer instructions, the name of a contact person of such payee and an explanation of the reason for the incurrence of such payable (the "Use of Proceeds Statement").

More Definitions of New Advance

New Advance has the meaning assigned to that term in Section 2.19(b). "New Commitments" has the meaning assigned to that term in Section 2.19(a).

New Advance has the meaning set forth in Section 2.1(a).

New Advance. PDGE Loans" "PDGE Loan Agreement" "PDGE Revolving Loan" "PDGES Loan "PDGES Loan Agreement" "PDGES Loan Documents" "September 30, 1994 Loan Modification Agreement"

New Advance means an advance of new funds by the Issuer to the Borrower hereunder, funded by an issue of New Notes, pursuant to Clause 2.3 (New Advances).

New Advance has the meaning assigned to that term in Section 2.21(a). “New Commitments” has the meaning assigned to that term in Section 2.21(a). “Non-Approval Event” means an event that will be deemed to have occurred if the Administrative Agent rejects three or more consecutive requests , during any six-month period (measured on a rolling basis), the quotient of (i) the number of Loan Assets that are First Lien Loans submitted by the Borrower to the Administrative Agent for inclusion as Eligible Loan Assets of assets that otherwise satisfy the criteriawhich the Administrative Agent has rejected (provided at least ten such Loan Assets that are First Lien Loans were submitted for review) divided by (ii) the total number Loan Assets that are First Lien Loans submitted by the Borrower to the Administrative Agent for inclusion ofas Eligible Loan Assets set forth on Schedule III (other than with respect to clause (a) thereof), is 35% or greater. “Non-Consenting Lender” has the meaning assigned to that term in Section 2.22(d). -46- USActive 58972051.458972051.5