Product Advance definition

Product Advance any advance of funds made or committed to be made by IBM Credit for the account of Customer to an Authorized Supplier in respect of an invoice delivered by such Authorized Supplier to IBM Credit describing Products purchased by Customer, including any such advance made or committed to be made as of the date hereof pursuant to the Financing Agreement.
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Product Advance as defined in Section 2.2 of this Addendum.
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Product Advance any advance of funds made by IBM Credit (excluding funds committed to be made by IBM Credit under this Agreement for which Products have not been delivered by IBM to any Customer) for the account of any Customer of IBM or Pinacor, as the case may be, in respect of an invoice delivered or to be delivered by IBM or Pinacor to IBM Credit describing Products purchased by such Customer, including any such advance made as of the date hereof pursuant to the Pre-Petition Inventory Finance Agreement."
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Examples of Product Advance in a sentence

  • Customer hereby authorizes and directs IBM Credit to pay the proceeds of Product Advances directly to the applicable Authorized Supplier in respect of invoices delivered to IBM Credit for such Products by such Authorized Supplier and acknowledges that each such Product Advance constitutes a loan by IBM Credit to Customer pursuant to this Agreement as if the Customer received the proceeds of the Product Advance directly from IBM Credit.

  • 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.

  • Such fee shall be due and payable on the Common Due Date for such Product Advance.

  • Each Product Advance shall be due and payable on the Common Due Date for such Product Advance.

  • IBM Credit may modify the Product Advance Term set forth in Attachment A from time to time if on at least two occasions during any three-month period a Shortfall Amount has become due and payable and may modify the Collateral Insurance Amount set forth in Attachment A from time to time, in each case, by providing Customer with a new Attachment A.

  • No finance charge shall accrue on any Product Advance during the No Charge Financing Days, if any, applicable to such Product Advance.

  • Customer shall repay each Product Advance no later than the Common Due Date for such Product Advance.

  • Customer may, at its option, repay each Product Advance by requesting IBM Credit to apply all or any part of the principal amount of an A/R Advance to the Outstanding Product Advances.

  • In addition, for any Product Advance with respect to which a Free Financing Period shall not be in effect, Customer shall pay a fee equal to 50 basis points of such Product Advance.

  • The Delinquency Fee Rate, the Product Advance Charge and the various A/R Finance Charges provided for in this Agreement are each computed on the basis of an actual day, 360 day year.

Related to Product Advance

  • 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.

  • 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.

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

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

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

  • Equipment Advance is defined in Section 2.1.1.

  • Eligible advance means an advance made before August 19, 1993.

  • 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.

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

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

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

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • 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.

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.

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

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

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

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

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.