Original Advance definition
Examples of Original Advance in a sentence
No advance requested by Pledgor shall be made to Pledgor if the sum of (i) the outstanding principal balance of the Obligation plus (ii) the amount of the advance requested, equals or exceeds the sum of the amounts determined by multiplying the Collateral Value by the Original Advance Percentage for each type of Collateral securing the Obligation.
The Bank shall have no obligation to make a Loan if the sum of the aggregate principal amount of the outstanding Loans plus the principal amount of such requested Loan would exceed the amount equal to the Original Advance Percentage of the Collateral Value.
If you have repaid the Original Advance, for purposes of certainty, you acknowledge and agree that the CEBA Term Loan Agreement has not been terminated, remains in full force and effect and subject to this Amending Agreement.
It is understood and agreed that after payment of all obligations under the Pechiney Loan Agreement, an amount equal to any proceeds of the Collateral Notes and Letters of Credit will be used to satisfy, among other things, any prepayment obligation arising under this subsection as a result of a decrease of the amount of the Original Advance Percentage or Margin Call Percentage pursuant to Section 2.5 hereof.
At any time after the Original Advance Date until this Note is no longer outstanding, the then outstanding principal amount of this Note and accrued and unpaid interest amount of this Note shall be convertible into shares of Common Stock at the option of the Holder, in whole or in part at any time and from time to time.
The Lenders are willing, on the terms and subject to the conditions contained in this Agreement, to provide the Borrower with a commercial financing facility which will be utilised by the Borrower in the re-financing of the Original Advance.
It is also understood that upon the payment of any Pechiney Proceeds in respect of the principal of the Collateral Notes, NationsBank, N.A. may at any time thereafter decrease the Original Advance Percentage (as defined in the Triarc Credit Agreement) and the Margin Call Percentage (as defined in the Triarc Credit Agreement)(in either case, to such percentage as the Bank may in its sole and absolute discretion determine) by giving either Borrower thereunder notice of such revised percentage.
Hellman and ADLT entered into a Loan Agreement dated as of O▇▇▇▇▇▇ ▇, ▇▇▇▇ (the "Original Loan Agreement"), pursuant to which ADLT advanced Hellman $9,000,000 (the "Original Advance").
With respect to each Payment Date during the Revolving Period, one minus the Weighted Average Original Advance Rate divided by the Weighted Average Final Score (expressed as a percentage).
Sell all or any part of the Collateral and apply the proceeds of such sale to the Obligation to bring the Obligation back into compliance ( that is, to reduce the unpaid principal of the Obligation such that the unpaid principal of the Obligation is less than the sum of the amounts determined by multiplying the Collateral Value by the Original Advance Percentage shown on Schedule I for each type of Collateral securing the Obligation).