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.
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.
Delayed Draw Funding Date means the date occurring on or after the Effective Date upon which all of the conditions to funding the Delayed Draw Term Loan set forth in Section 6.02 are satisfied and the Delayed Draw Term Loan is funded.
PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.
Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.
PMI Advance As defined in the related Servicing Agreement, if applicable.
Term Advance has the meaning specified in Section 2.01(a).
Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.
Initial Funding Date means the Funding Date on which the first Loan is made pursuant to this Agreement, as specified in the Initial Borrower Funding Request.
P&I Advance Date The Business Day immediately prior to each Distribution Date.
Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.
Tranche A Advance has the meaning specified in Section 2.01(a).
Interest Funding Account shall have the meaning specified in subsection 4.2(b).
Loan Advance The meaning specified in Section 2.2(a).
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.
Revolving Advance has the meaning given in Section 2.1.
Initial Loan is defined in Section 2.1.
Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.
Pre-Funding Amount With respect to any date, the amount on deposit in the Pre-Funding Account.
Excess Funding Account shall have the meaning specified in Section 4.02.
Pre-Funding Period means the period beginning on the Closing Date and ending on the earliest of (a) the date on which the amount on deposit in the Pre-Funding Account is less than $10,000, (b) the Funding Termination Date or (c) the date on which an Event of Termination occurs.
Incremental Loan has the meaning set forth in Section 2.14(b).
Advance Date means the funding date of any Advance.
Closing Date Term Loan has the meaning set forth in Section 2.4(a).
Initial Advance means the first Advance made pursuant to Article II.
Tranche B Advance has the meaning specified in Section 2.01(b).
Interest Advance means an Advance made pursuant to Section 2.02(a).