REDRAW ADVANCE means any advance made or to be made under this agreement.
Term Advance has the meaning specified in Section 2.01(a).
Loan Advance The meaning specified in Section 2.2(a).
PMI Advance As defined in the related Servicing Agreement, if applicable.
SOFR Advance means an Advance that bears interest at a rate based on Term SOFR.
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.
Equipment Advance has the meaning set forth in Section 2.1.2.
Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).
Delinquency Advance As defined in Section 8.09(a) hereof.
Tranche A Advance means an Advance made by a Bank under Tranche A.
Revolving Advance has the meaning given in Section 2.1.
Applicable Advance Rate For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %
LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.
Eligible advance means an advance made before August 19, 1993.
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.
Downgrade Advance means an Advance made pursuant to Section 2.02(c).
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.
ABR Advance means an Advance which bears interest at the Alternate Base Rate.
Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.
LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.
Final Advance means an Advance made pursuant to Section 2.02(d).
Floating Rate Advance means an Advance which bears interest at the Floating Rate.
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.
Emergency Advance Any Property Advance that, pursuant hereto, the Special Servicer is required to either (a) make (in its sole discretion in accordance with the Servicing Standard) or (b) to request the Master Servicer to make, that must be made in an emergency situation or on an urgent basis within two (2) Business Days of the Special Servicer becoming aware that it must be made in order to avoid any material penalty, any material harm to a Mortgaged Property securing a Mortgage Loan or any other material adverse consequence to the Trust Fund or any related Companion Loan Holder.
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.
Further Advance means, in relation to a Loan, any advance of further money to the relevant Borrower following the making of the Initial Advance, which is secured by the same Mortgage as the Initial Advance, excluding the amount of any retention in respect of the Initial Advance;
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.