PRO Advance definition

PRO Advance an A/R Advance, with a PRO Advance Term, made by IBM Credit to itself on behalf of Customer to repay all or a portion of a Product Advance that is due and payable.
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PRO Advance as defined in Section 4.2 of this Addendum.
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Examples of PRO Advance in a sentence

  • Notwithstanding any other provision of this Agreement, Customer shall not (i) request more than one PRO Advance in respect of any Product Advance; and (ii) request a PRO Advance for any Common Due Date on which Customer will take a discount offered by IBM Credit for invoice amounts paid in full within fifteen days of the invoice date under IBM Credit's High Turnover Option ("HTO") Program.

  • Payment for the PRO Advance shall be due on the last day of the PRO Term.

  • The Rescheduled Request must state the PRO Advance amount requested, and the month, day and year of the Common Payment Due Date, as set forth in Customers’ applicable monthly billing statement from IBM Credit, or the Product Advance or part thereof to be rescheduled.

  • Customer shall provide IBM Credit with a written request ("Reschedule Request") for an Advance ("PRO Advance") for periods of 10 day increments ("PRO Term") up to the maximum approved term set forth in Exhibit A ("Maximum PRO Term").

  • The Request for PRO Advance shall specify (i) the amount of the PRO Advance the PRO Advance Term for such PRO Advance; and (ii) for each PRO Advance, the month, day and year of the Common Due Date, as set forth in Borrower's applicable billing statement from IBM Credit, for the Product Advance to which the PRO Advance is to be applied.

  • From and after maturity, the delinquent portion of a PRO Advance shall accrue a Delinquency Fee in accordance with Section 2.8 hereof.

  • Each PRO Advance shall accrue a finance charge during the period from the date such advance is made of maturity at the per annum rate specified in Exhibit A as the “FPP PRO Financing Charge”.

  • From and after maturity, the delinquent portion of a PRO Advance shall accrue a Delinquency Fee in accordance with Paragraph 2.8 hereof.

  • Notwithstanding any other provision of this Agreement, Borrower shall not (i) request more than one PRO Advance in respect of any Product Advance; and (ii) request a PRO Advance for any Common Due Date on which Borrower will take a discount offered by IBM Credit for invoice amounts paid in full within fifteen days of the invoice date under IBM Credit's High Turnover Option ("HTO") Program.

  • Any Request for PRO Advance delivered to IBM Credit shall be irrevocable.

Related to PRO 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.

  • Revolving Advance has the meaning given in Section 2.1.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

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

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Tranche A Advance means an Advance made by a Bank under Tranche A.

  • Term Advance has the meaning specified in Section 2.01(a).

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

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

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Cash Advance means an advance or payment made in any currency or by travellers’ cheques, notes or other forms representing an amount of any currency by any Merchant, bank or other financial institution and shall include any amount paid by DBS for the credit of the Cardmember’s account(s) with any person which had issued to the Cardmember any credit or charge card(s).

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

  • Equipment Advance is defined in Section 2.1.1.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • 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).

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

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Revolving Credit Lender pursuant to Section 2.02(b).

  • Future Advance means an Advance made after the Initial Closing Date.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Maximum Revolving Advance Amount means $25,000,000.

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