Supplemental Advances Sample Clauses

Supplemental Advances. On each Deposit Date on which a Monthly Advance is to be made pursuant to the Pooling Agreement, the Supplemental Servicer shall be responsible for making Supplemental Advances in the amounts specified in the Servicer Disbursement Advice by making a wire transfer of such amounts in immediately available funds to the Certificate Account (or to an Eligible Account designated and held by the Trustee in trust for the Trust for deposit by the Trustee to the Certificate Account); provided that the Supplemental Servicer may but shall not be required to make a Supplemental Advance (a) as to which the Servicer has failed to make the related Primary Advance, (b) with respect to any Mortgage Loan if the Servicer or Supplemental Servicer determines that the mortgage or deed of trust securing the related Mortgage Loan does not constitute a first lien on the related Mortgaged Property; (c) to the extent the making of such Supplemental Advance would (i) cause the aggregate unreimbursed Supplemental Advances to exceed the Maximum Advance Obligation or cause the aggregate of all Supplemental Advances for each of the Scheduled Trusts (including the Trust) to exceed the Global Maximum Advance Obligation or (ii) cause the Supplemental Advance Ratio to exceed 75% after giving effect to any distribution in repayment of Supplement Advances to be made on the immediately succeeding Distribution Date as set forth in the related Servicer Disbursement Advice; (d) with respect to any Mortgage Loan to the extent the making of such Supplemental Advance would cause the aggregate unreimbursed Monthly Advances and Servicing Advances for such Mortgage Loans to exceed 25% of the lesser of (i) the related Cut-off Date Principal Balance and (ii) commencing with the Deposit Date occurring in July 1999, with respect to a Mortgage Loan delinquent more than 90 days, the market value of the related Mortgaged Property as reflected on the most recent BPO, if any, for such property obtained by the Servicer or the Supplemental Servicer; (e) if the Servicer Disbursement Advice setting out the Supplemental Advance to be made for any Deposit Date has not been verified by the Verification Agent and delivered to the Supplemental Servicer at least five (5) Business Days prior to the related Deposit Date; (f) if the Supplemental Servicer determines in its sole good faith discretion that such Supplemental Advance would not be ultimately recoverable by the Servicer from Late Collections; (g) with respect to any...
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Supplemental Advances. Section 2.1 of the Existing Credit Agreement is hereby amended to add the following at the end thereof:
Supplemental Advances. 30 2.4 [Intentionally omitted]................................... 30 2.5 Overadvances.............................................. 31 2.6 Interest and Letter of Credit Fees: Rates, Payments, and Calculations.............................................. 31 2.7
Supplemental Advances. (a) Subject to the terms and conditions of this Agreement, Foothill agrees to make advances ("Supplemental Advances") to Borrower in an amount outstanding not to exceed at any one time the lesser of (i) the Maximum Supplemental Amount, or (ii) the Supplemental Borrowing Base. Borrower shall not be entitled to request or receive Supplemental Advances unless the combined outstanding balance of Advances and Letter of Credit Usage equals the Maximum Revolving Amount. Absent an Event of Default, Supplemental Advances shall be repaid prior to Advances. Upon the occurrence and during the continuance of an Event of Default, as between Foothill and Borrower, all Collections, repayments, and proceeds of Collateral received by Foothill may be allocated by Foothill to the repayment or cash-collateralization of the Obligations by Foothill in such order as Foothill elects in its sole and absolute discretion, even if such allocation does not minimize Borrower's interest expense, or fees or other charges payable by Borrower. Borrower understands that the Foothill Funds may purchase a 100% participation interest in the Supplemental Advances, and that, under certain circumstances during the continuance of an Event of Default, Foothill may be entitled, as between itself and the Foothill Funds, to receive repayment of all Obligations other than the Supplemental Advances (and interest and fees or other charges with respect thereto) prior to the Foothill Funds becoming entitled to repayment of their investment with respect to the Supplemental Advances (and interest and fees or other charges with respect thereto), which entitlement may influence the order in which Foothill elects to cause the Obligations to be reduced, and which election may affect the amount of interest, fees, or other charges required to be paid by Borrower.
Supplemental Advances. (i) The Borrowers may at any time prior to January 31, 1999, by notice to the Administrative Agent, obtain Supplemental Commitments in an aggregate amount not to exceed $50,000,000 to be effective as of each such date (each, a "Supplement Date") specified by notice from the Administrative Agent to the Borrowers; provided, however, that no Default shall have occurred and be continuing as of the date of either such notice or as of the Supplemental Date or shall occur as a result thereof.

Related to Supplemental Advances

  • Initial Advances The obligation of each Lender to make the initial Advance to be made by it or of the Administrative Agent to issue the initial Letters of Credit is subject to the following conditions precedent, each of which shall be satisfied prior to the making of the initial Advances (unless all of the Lenders, in their sole and absolute discretion, shall agree otherwise):

  • Additional Advances The Parties hereby agree that during the period from May 1, 2011 through July 31, 2011, the Payee has made additional advances to the Maker, in the aggregate amount of $15,940, in payment of the Maker’s operating expenses during that period, so that effective as of July 31, 2011, the total outstanding principal amount due and payable pursuant to the Note is $226,973.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • Refinancing Preparation Advance If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Association shall pay the amount so withdrawn to itself or the Bank, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding daily balance thereof, at a rate equal to 0.50% above the Prime Rate.

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

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