Seasonal Advance definition

Seasonal Advance means a loan whereby funds may, from time to time during the currency of such loan, be drawn from or repaid to the [Bank] Fund at any particular time during such currency shall not exceed such maximum amount as may be determined by the Board.”. Amendment of section 3 Act 14 of 19813. Section 3 of the principal Act is hereby amended by the substitution of the following section:

Seasonal Advance means any loans and advances made at the Seasonal Advance Amount.

Seasonal Advance or “Seasonal Borrowing”), and if the Seasonal Issuer does not make such Advance, the Seasonal Bank shall make such Advance to the Borrower from time to time in such amounts as may be requested by the Borrower pursuant to Section 2.3, so long as

Examples of Seasonal Advance in a sentence

• Should the amount of Grant Funds provided by LA 2028 to RAP under any YSP Project Plan exceed the actual expenditures provided for in Section 12(b) and incurred in the Grant Period, the excess funds (“Excess Funds”) shall be retained in the Special Fund to be used by RAP during the Agreement Term in connection with the subsequent LA28 approved YSP Project Plan and/or Seasonal Advance Funding Requests.

• Attached as Schedule 1 is a detailed account of each Seasonal Advance requested by Borrowers in the immediately preceding twelve (12) month period.

• Interest charges shall be computed on the actual principal amount of Advances outstanding during the month at a rate per annum equal to (i) with respect to Revolving Advances, the Revolving Interest Rate and (ii) with respect to the Seasonal Advance, the Seasonal Advance Rate.

• The Seasonal Advance shall be evidenced by one or more secured promissory notes (collectively, the "Seasonal Advance Note") in substantially the form attached hereto as Exhibit 2.4. Borrower and Agent agree that the Seasonal Advance Note that evidences a Seasonal Advance for the Seasonal Advance Period in one year may also evidence Seasonal Advances for Seasonal Advance Periods in subsequent years, even though the original Seasonal Advance that it evidenced will have been repaid.

• Each request for Seasonal Advance Funding shall include the payment schedule of requests for Seasonal Advance Funding in the annual YSP Project Plan.

More Definitions of Seasonal Advance

Seasonal Advance shall have the meaning set forth in Section 2.01.

Seasonal Advance. (as defined in the Loan Agreement) is outstanding, (ii) at the time of such payments, the Borrower has "Undrawn Availability" (as defined in the Loan Agreement) of not less than $1,000,000, (iii) the aggregate of the payments allowed pursuant to this subsection shall not at any time exceed an amount equal to 75% of the aggregate of the cash consideration, net of related expenses, that Grantor has received for the issuance of equity securities of Grantor after the date hereof and for which Grantor has delivered to Agent evidence satisfactory to Agent that such cash has been received, and (iv) no payments on the SWT Note shall be allowed hereunder until all indebtedness under the St. Cloud Note and the Strome Note has been paid in fulx.

Seasonal Advance is defined in Section 2.20 of this Agreement.

Seasonal Advance. (as defined in the Loan Agreement) is outstanding and (ii) at the time of such payments, the Borrower has "Undrawn Availability" (as defined in the Loan Agreement) of not less than $1,000,000, and

Seasonal Advance. (as defined in the Loan Agreement) is outstanding, (ii) at the time of such payments, the Borrower has "Undrawn Availability" (as defined in the Loan Agreement) of not less than $1,000,000, (iii) the aggregate of the payments allowed pursuant to this subsection, when aggregated with all prepayments of principal and interest made on the Other Notes, shall not at any time exceed an amount equal to 75% of the aggregate of the cash consideration, net of related expenses, that Debtor has received for the issuance of equity securities of Debtor after the date hereof and for which Debtor has delivered to Bank evidence satisfactory to Bank that such cash has been received, and (iv) no payments shall be allowed pursuant to this subsection until all indebtedness under the St. Cloud Note and the Strome Note has been paid in xxxx. Except for payments expressly allowed pursuant to this Section, if any, no payments of principal on the Subordinated Debt, or interest, or costs and expenses, or other payments, shall be permitted or made.

Seasonal Advance means the Advances made pursuant to Section 2.4 hereof.

Seasonal Advance has the meaning ascribed to it in Section 1.1(a)(iii).