Prepayments of Advances definition

Prepayments of Advances outstanding under the Revolving Credit Facility made pursuant to clause (iii) of this Section 2.06(b) shall be, first, applied to prepay Letter of Credit Advances owing to the Issuing Bank and outstanding at such time until all such Letter of Credit Advances are paid in full, second, applied to prepay Swing Line Advances owing to the Swing Line Bank and outstanding at such time until all such Swing Line Advances are paid in full, third, applied to prepay Letter of Credit Advances owing to the Revolving Credit Lenders and outstanding at such time until all such Letter of Credit Advances are paid in full, fourth, applied to prepay Swing Line Advances owing to the Revolving Credit Lenders and outstanding at such time until all such Swing Line Advances are paid in full, and fifth, applied to prepay Revolving Credit Advances comprising part of the same Borrowings and outstanding at such time until all Revolving Credit Advances are paid in full. Any Excess Cash Flow or Net Cash Proceeds remaining after the application thereof to the prepayment of Term Advances outstanding on the date of receipt thereof pursuant to clause (v) or (vi), respectively, of Section 2.05(b) and this Section 2.06(b) may be retained by the Borrower for use in its businesses and operations in the ordinary course or as otherwise permitted under the terms of this Agreement. Prepayments of Advances outstanding under any Facility pursuant to this Section 2.06(b) shall be applied to Base Rate Advances comprising part of the same Borrowings under such Facility and outstanding at such time and/or to Eurodollar Rate Advances comprising part of the same Borrowings under such Facility and outstanding at such time which have an Interest Period then in effect for which the last day is the same as the day of such prepayment before 57 -54- any such prepayment shall be applied to any other Eurodollar Rate Advances comprising part of the same Borrowings under such Facility and outstanding at such time.
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Examples of Prepayments of Advances in a sentence

  • Prepayments of Advances shall be accompanied by accrued interest to the date of prepayment.

  • Prepayments of Advances under the Facility B Commitment after the Facility B Commitment Termination Date shall be applied to amounts outstanding thereunder in inverse order of maturity.

  • Prepayments of Advances will be without premium or penalty; provided that prepayments of Eurodollar Rate Advances not made on the last day of the Interest Period shall be subject to Section 2.11.

  • Prepayments of Advances under the Term Loan Option will be applied to payments due in the inverse order of their maturity.

  • Prepayments of Advances will be without premium or penalty; provided that prepayments not made on the last day of the Interest Period shall be subject to Section 2.12.

  • Prepayments of Advances shall be in an aggregate minimum principal amount of $1,000,000 or such amount plus a whole multiple of $500,000 in excess thereof, or if the outstanding Loans are less than the applicable minimum prepayment amount, prepayment of the Loans shall be the outstanding principal balance thereof.

  • Prepayments of Advances under the Facility B Commitment shall be applied to amounts outstanding thereunder in inverse order of maturity.

  • Interest Rate Determination106 108SECTION 2.10 Prepayments of Advances.

  • Prepayments of Advances, under this subsection shall be in principal amounts of not less than $100,000.00 and in integral multiples of $100,000.00.

  • Repayment of Advances Interest on Advances Interest Rate Determination Optional Conversion of Advances Prepayments of Advances Increased Costs Illegality Payments and Computations Taxes Sharing of Payments, Etc.

Related to Prepayments of Advances

  • Mandatory Prepayments means the prepayments of the Loans required by Section 3.5 hereof.

  • Prepayment means any prepayment, whether in part or in full, in respect of any Receivable.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Prepayments means any moneys which shall be paid to the Issuer prior to the time such amounts become due. Prepayments shall not include any interest paid on such moneys.

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

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

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

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

  • Mandatory Prepayment is defined in Section 2.4(a).

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • U.S. Revolving Loans has the meaning set forth in Section 2.1(a).

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Waivable Mandatory Prepayment as defined in Section 2.15(c).

  • Loan Repayments means the sum of (i) Trust Bond Loan Repayments, (ii) the Administrative Fee, and (iii) any late charges incurred hereunder.

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

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Borrower Offer of Specified Discount Prepayment means the offer by any Company Party to make a voluntary prepayment of Term Loans at a Specified Discount to par pursuant to Section 2.05(a)(v)(B).

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Nonrecoverable Advances Means, with respect to any Mortgage Loan, (a) any Delinquency Advance or Servicing Advance previously made and not reimbursed pursuant to Section 5.03 of the Sale and Servicing Agreement, or (b) a Delinquency Advance proposed to be made in respect of a Mortgage Loan or REO Property either of which, in the good faith business judgment of the Servicer, as evidenced by an Officer’s Certificate delivered to the Indenture Trustee no later than the Business Day following such determination, would not ultimately be recoverable pursuant to Section 5.03 of the Sale and Servicing Agreement.