Examples of Term Advances in a sentence
Each of Funding, the Master Issuer and the Security Trustee acknowledge and agree that Funding may from time to time enter into New Intercompany Loan Agreements and that the obligation of Funding to repay the Term Advances made under this Agreement will rank pari passu with the obligations of Funding to repay any such other loans made under such New Intercompany Loan Agreements.
The Cash Manager shall ensure that all payments of interest and repayments of principal on each of the Term Advances are recorded in the Intercompany Loan Ledger.
Upon the Security Trustee declaring the Term Advances to be immediately due and payable pursuant to Clause 15.10, the amount due and payable in respect of each Term Advance shall be paid by Funding without penalty or premium but subject to Clause 16.
The aggregate of such Term Advances to be made on the relevant Closing Date will only be available for drawing in one amount by Funding on the relevant Closing Date.
The Cash Manager shall ensure that all Funding Principal Receipts reserved by Funding to be set aside to pay the relevant Bullet Term Advances and/or, as applicable, the relevant Scheduled Amortisation Term Advances are recorded on the Cash Accumulation Ledger.