Reserve Advance definition

Reserve Advance. Defined in Section 2.7(c)(i).
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Reserve Advance shall have the meaning specified in Section 5.1(c).
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Reserve Advance means amounts advanced from the Reserve Account in accordance with Section 5.1(b) hereof.
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Examples of Reserve Advance in a sentence

  • Proceeds from any Class A Reserve Advance shall be deposited into the Issuer Reserve Account.

  • Notwithstanding the foregoing sentence and subject to the other provisions hereof, on each date that an Accrued Interest Payment becomes due and payable hereunder, Lender shall make an Interest Reserve Advance hereunder in the amount of such Accrued Interest Payment, which shall be applied to the Accrued Interest Payment then due and payable, until the Interest Reserve has been fully exhausted.

  • At this time, lets vote.Motion approved by the following vote: Ayes: Councilmen Lester, Walford, Long, Wooley, Webb, Shyne, and Bowman.

  • Advance deposits - investment in LVMWD/TSD Joint Venture – Pursuant to the Joint Powers Agreement, each participant is required to maintain advance deposits with the LVMWD/TSD Joint Venture for the following purposes: Operating Reserve Advance Account – Both participants are required to advance amounts estimated to provide for three months operating expenses.

  • Replacement Reserve Advance Account – Both participants are required to advance amounts for the cost to replace existing assets.

  • The additional advance of funds ("Reserve Advance"), if any, made contemporaneously with the Initial Advance shall be into a reserve account for the purpose of funding subsequent Borrower requests for reimbursement of the costs of construction and/or rehabilitation of the Property.

  • Upon each Interest Reserve Advance, irrespective of whether the Advance Conditions were met, (i) the amount of remaining Interest Reserve (if any) shall be reduced by the amount of such Interest Reserve Advance and (ii) such Interest Reserve Advance funded by Lender hereunder shall automatically become principal outstanding under this Note upon such funding.

  • Immediately apply as against any and all amounts due and owing under this Note the balance of any Reserve Advance funds, cash or other security then on deposit with the Lender, loan servicer or Trustee held as additional collateral.

  • Subject to the other provisions of this Note, each time Lender funds an Interest Reserve Advance hereunder, (i) Borrower’s requirement to make the Accrued Interest Payment for such month shall be satisfied, (ii) the amount of remaining Interest Reserve shall be reduced by the amount of such Interest Reserve Advance, and (iii) such Interest Reserve Advance funded by Lender hereunder shall automatically become principal outstanding under this Note upon such funding.

  • From the interest commencement dates set forth in Section 2.1.5 above, payments shall be made on each Payment Date of all accrued interest due and owing as of such Payment Date, which is currently calculated to be in the sum of $1,411.67 based on the maximum aggregate amount of the Initial Advance and any Reserve Advance.


More Definitions of Reserve Advance

Reserve Advance has the meaning set forth in Section 4.6.
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Reserve Advance shall have the meaning set forth in Section 1.1 of the Security Agreement.
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Related to Reserve Advance

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Term Loan has the meaning specified in Section 2.01(b).