Term Overadvance definition

Term Overadvance has the meaning specified in Section 2.13(a)(ii).
Sample 1Sample 2Sample 3
Term Overadvance has the meaning specified in Section 2.13(a)(ii). “Term SOFR” means, for the applicable corresponding tenor, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body Adjustment” means a percentage per annum equal to 0.10%. “Term SOFR Notice” means a notificationAdministrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Eventin its reasonable discretion). “Term SOFR Rate” means, for any calculation with respect to a Term SOFR Rate Loan, the Term SOFR(a) Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 3:00 p.m. on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Transition Event with respect to the Term SOFR Reference Rate has not occurred, then the Term SOFR Rate will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day; and for any calculation with respect to a Base Rate Loan on any day, the Term SOFR(b) Reference Rate for a tenor of one month on the day (such day, the “Base Rate Term SOFR 45
Sample 1
Term Overadvance shall have the meaning assigned to it in SECTION 1.1(b)(i)(2).
Sample 1

Examples of Term Overadvance in a sentence

  • Any partial prepayments of the Term Overadvance of any Borrower shall be applied to prepay the scheduled installments of such Borrower's Term Loans in inverse order of maturity (it being understood that such payments shall be deemed to be applied first against the Term Overadvance of such Borrower).

  • The Equipment Advance, the Real Property Advance, all Capital Expenditure Advances, the Term Overadvance, the Titan Overadvance and the Working Capital Overadvance are referred to individually as a "Term Loan Advance" and collectively as the "Term Loan." Each Term Loan Advance will be evidenced by a term note in the form attached hereto as Exhibit A.

  • Borrowers may at any time on at least five (5) days' prior written notice by Borrower Representative to Agent voluntarily prepay all (but not less than all) of the Term Loan; PROVIDED that MCP shall be permitted to make partial prepayments of the Term Overadvance so long as any such prepayments shall be in a minimum amount of $500,000 and integral multiples of $100,000 in excess of such amount.

Related to Term Overadvance

  • Canadian Overadvance has the meaning assigned to such term in Section 2.04(b).

  • Overadvance has the meaning set forth in Section 2.5.

  • Permitted Overadvance means an Overadvance made by the Agent, in its discretion, which:

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Unintentional Overadvance means an Overadvance which, to the Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base or misrepresentation by the Loan Parties.

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Protective Advance has the meaning assigned to such term in Section 2.04.

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

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Equipment Advance is defined in Section 2.1.1.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Tranche A Advance means an Advance made by a Bank under Tranche A.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

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

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.