Takeout Advance definition

Takeout Advance an A/R Advance made to existing creditors of Customer on behalf of Customer, in an amount sufficient to discharge Customer's indebtedness to such creditor.
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Takeout Advance as defined in Section 4.1 of this Addendum. "Total Outstanding Indebtedness": the sum of AWF Outstanding Indebtedness and FPP Outstanding Indebtedness.
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Takeout Advance upon request by a Customer, an A/R Advance made, only on the Closing Date, to existing creditor(s) of the requesting Customer on behalf of the requesting Customer, in an amount sufficient to discharge the requesting Customer's indebtedness to such creditor(s).
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Examples of Takeout Advance in a sentence

  • The Takeout Advance shall accrue a finance charge during the period commencing with the date such Advance is made and ending on the date set forth in Exhibit B at the per annum rate set forth in Exhibit B as the "FPP Takeout Advance Financing Charge".

  • Provided that Customers have adequate Available Credit and provided that no Event of Default has occurred under the Agreement, pursuant to the Takeout Advance Option, Customers may in writing request an advance (“Takeout Advance”) in an amount sufficient to pay off and discharge all remaining indebtedness it has with other lenders to meet IBM Credit’s requirements for acceptance of this Addendum.

  • Customers must complete all of the IBM Credit required documents (“Other Documents” as identified in Exhibit A), which are required to assure IBM Credit a valid and enforceable first priority security position in Customers’ Collateral The Takeout Advance shall accrue a finance charge during the period from the date such advance is made to maturity at the per annum rate specified in Exhibit B as the “FPP Takeout Advance Financing Charge”.

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

  • Takeout Advance Option Executed Letter of Direction; and Executed Letter of Notification.

  • By: __________________________________ Print Name: __________________________ Title: _______________________________ IWCF ATTACHMENT D TO INVENTORY AND WORKING CAPITAL FINANCING AGREEMENT ("IWCF AGREEMENT") Takeout Advance Option IWCF TAKEOUT ADVANCE Schedule of Repayments for Western Micro Technology, Inc.

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

  • Customers shall repay the Takeout Advance according to the repayment schedule set forth in Exhibit B.

  • Takeout Advance Option Ÿ Executed Letter of Direction; Ÿ Executed Letter of Notification; Ÿ Acknowledgment of Payment and Termination Agreement EXHIBIT B ("FPP EXHIBIT B") TO ADDENDUM TO AGREEMENT FOR WHOLESALE FINANCING - FLEXIBLE PAYMENT PLAN ("FPP ADDENDUM") DATED OCTOBER 22, 2007 Effective Date of this FPP Exhibit B: OCTOBER 22, 2007 FPP TAKEOUT ADVANCE Schedule of Repayments for: PC Universe, Inc.

  • Provided that Customer has adequate Available Credit and provided that no Event of Default has occurred under the Agreement, Customer may, pursuant to the Takeout Advance Option, request an Advance in an amount sufficient to pay off and discharge all remaining indebtedness it has with another lender (“Takeout Advance”) to meet IBM Credit's requirements for acceptance of this Addendum.


More Definitions of Takeout Advance

Takeout Advance an A/R Advance made to existing credi- tors of Customer on behalf of Customer, in an amount suffi- cient to discharge Customer's indebtedness to such creditor.
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Related to Takeout Advance

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

  • 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.

  • 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.

  • Equipment Advance is defined in Section 2.1.1.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • 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.

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

  • Takeout Commitment means a commitment of Seller to sell one or more Mortgage Loans to a Takeout Investor, and the corresponding Takeout Investor’s commitment back to Seller to effectuate the foregoing.

  • FHA Loan means a Mortgage Loan which is the subject of an FHA Mortgage Insurance Contract.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

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

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

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

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

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

  • 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).

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

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

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.