Advance D definition

Advance D means the advance equal to the lesser of (i) USD47,500,000 and (ii) 60% of the Valuation Amount of Vessel D determined no more than 10 days prior to the Drawdown Date relating thereto or, as the context requires, the amount thereof outstanding from time to time;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Advance D means the lesser of (i) USD9,850,000 and (ii) 60% of the Valuation Amount of Vessel D as at the Drawdown Date of Advance D, to be made available by the Lenders to the Borrower to be applied in or towards payment to the Seller of the cost of acquisition of Vessel D or, as the context requires, the amount thereof outstanding from time to time;

Advance D means the principal amount of the borrowing by the Borrowers under this Agreement in respect of Ship D or, as the context may require, the principal amount outstanding of such Advance in respect of that Ship under this Agreement.

Examples of Advance D in a sentence

Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrowers a senior secured term loan facility of up to $64,200,000, in up to six Advances, Advance A, Advance B, Advance C, Advance D, Advance E and Advance F, for the purpose stated in the preamble to this Agreement.
The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers upon and subject to the terms of this Agreement, the Undrawn Commitment of Advance A, the Undrawn Commitment of Advance D, the Undrawn Commitment of Advance G, the Undrawn Commitment of Advance H and Advance I for the purposes of financing part of the purchase price of Vessel I.
Subject to the terms of this Agreement, the obligations of each Lender shall be to contribute to the Undrawn Commitment of Advance A, the Undrawn Commitment of Advance D, the Undrawn Commitment of Advance G, the Undrawn Commitment of Advance H and Advance I the proportion of the relevant one of the Undrawn Commitment of Advance A, the Undrawn Commitment of Advance D, the Undrawn Commitment of Advance G, the Undrawn Commitment of Advance H and Advance I which is set out opposite its name in Schedule 1.
Any partial prepayment in respect of Advance A or Advance B shall be applied pro rata to Advance A and Advance B and any partial prepayment in respect of Advance C, Advance D or Advance E shall be applied pro rata to Advance C, Advance D and Advance E.
The Notice of Borrowing shall specify (A) the date of the requested Advance, which shall be a Business Day; (B) the amount of such Advance; (C) whether such Advance will consist of a Base Rate Advance or a Eurodollar Rate Advance; (D) whether such Advance will be a Facility A Advance or a Facility B Advance, and (E) in the case of a Eurodollar Rate Advance, the initial Interest Period for such Eurodollar Rate Advance.

More Definitions of Advance D

Advance D means a borrowing of a part of the Total Commitments by the Borrowers up to the Ship Commitment in respect of Ship D, which is to be made available in relation to Ship D, and comprising a Commercial Facility Advance, a KEXIM Facility Advance, a KEXIM Covered Facility Advance and a K-sure Facility Advance, each in the Relevant Percentage of such Advance, or (as the context may require) the outstanding principal amount of such borrowing.

Advance D means the advance of the lesser of (i) USD35,000,000 and (ii) 65% of the Valuation Amount of “NAVIOS AURORA I” as at the Advance D Drawdown Date, to be applied in on-lending to Aurora to refinance the purchase of “NAVIOS AURORA I”;

Advance D means the principal amount of the Advance referred to in Clause 3.2(b)(iv) made or to be made by the Lender pursuant to Clause 3 or (as the context requires) the principal amount thereof for the time being outstanding under this Agreement;

Advance D means the advance of USD12,096,774.20 representing the aggregate of (i) USD7,026,041.65, which has already been drawn and

Advance D means an amount equal to the least of (i) $3,900,000, (ii) 55% of the Fair Market Value of Ship K and (iii) an amount which, when added to the Advances which have been drawn down on or prior to Advance D will equal 55% of the aggregate Fair Market Values of all the Guarantor Ships which will be subject to a Mortgage on the Drawdown Date in respect of Advance D, to be applied in or towards financing or refinancing the acquisition of Ship K or, as the context requires, the amount thereof outstanding from time to time;

Advance D means the amount of USD18,400,000 to be made available by the Lender to the Borrower in accordance with Clause 2.3;

Advance D means the advance equal to the lesser of (i) USD10,000,000 and (ii) 50% of the Valuation Amount of Vessel D determined no more than 10 days prior to the Drawdown Date