Borrower Advances definition

Borrower Advances means any advance of funds or loan to the Project made by Borrower or any Affiliate for whatever reason. Borrower Advances do not include equity or capital contributions whether required in conjunction with the financing of the Project or otherwise. Borrower Advances may only be repaid from Project funds pursuant to this Section 15. Any Borrower Advances must be deposited into the Project’s operating account as required by Program Obligations. Interest may accrue on Borrower Advances pursuant to Program Obligations and may only be paid in accordance with this Section 15. Borrower Advances may only be repaid, and interest on Borrower Advances may only be paid: with prior written approval from HUD, or if and to the extent that Borrower is permitted to take Distributions, from funds allowable for Distributions, and only at times when Distributions are permitted pursuant to Sections 13 and 14 of this Agreement. Repayments of Borrower Advances, and payments of interest on Borrower Advances, approved by HUD and made pursuant to Section 15(c)(i) shall be considered Reasonable Operating Expenses.
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Borrower Advances means any advance of funds or loan to the Project made by Borrower or any Affiliate for whatever reason. Borrower Advances do not include equity or capital contributions whether required in conjunction with the financing of the Project or otherwise. Borrower Advances may only be repaid from Project funds pursuant to this Section 15.
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Borrower Advances. Borrower Advances" shall mean any amounts that, as of the ----------------- Closing Date, have been advanced or paid by Seller for a Borrower in connection with any of the Loans being purchased by Buyer pursuant to the terms hereof.
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Examples of Borrower Advances in a sentence

  • Payments for permanent disability awarded pursuant to a Worker’s Compensation claim are to be retained by the employee, it being ruled by State Compensation Insurance Fund that such awards by the Commission are recompense for the permanent disability suffered by the employee.

  • Borrower's ability to pay under the Borrower Facility Agreement Neither the Issuer, the Borrower nor any other party to the Programme Documents (other than upon certain circumstances, the Cash Collateral Provider and without prejudice to the Collateral Security granted by the Collateral Providers) guarantees or warrants the full and timely payment by the Borrower of any sums of principal or interest payable under the Borrower Advances, being part of the Issuer assets.

  • This note is given to evidence Borrower's obligation to repay all sums which Lender may from time to time advance to Borrower ("Advances") under a: / / single disbursement loan.

  • As a consequence, as long as a Borrower Event of Default has not occurred, the Issuer shall not be exposed to any currency and interest risk regarding the Borrower Advances and the Covered Bonds.

  • Borrower shall require, as a condition of any agreement to repay Borrower Advances, or to pay interest thereon, with any party making such Borrower Advances, that such agreement shall recognize the limitations of this Section 15 and, if all of the conditions of this Section 15 are not met, shall hold the Borrower and the Mortgaged Property harmless for failure to pay.

  • Repayments of Borrower Advances, and payments of interest on Borrower Advances, approved by HUD and made pursuant to Section 15(c)(i) shall be considered Reasonable Operating Expenses.

  • Interest may accrue on Borrower Advances pursuant to Program Obligations and may only be paid in accordance with this Section 15.

  • Any Borrower Advances must be deposited into the Project’s operating account as required by Program Obligations.

  • The Issuer will redeem Covered Bonds when it appears that the Borrower is about to redeem the corresponding Borrower Advance(s) and the Borrower may be expected to redeem such corresponding Borrower Advance(s) when the general cost of borrowing of the Borrower is lower than the interest rate on such Borrower Advance(s).

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Related to Borrower Advances

  • Revolving Advances means Advances made other than Letters of Credit.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to the Borrower Loan Agreement in the aggregate principal amount of the Borrower Loan Amount, as evidenced by the Borrower Notes.

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

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Term Loan as defined in Section 2.1.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Swing Loans each is defined in Section 1.7 hereof.

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment or a Revolving Loan.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Revolving Loan Notes means the promissory notes of the Borrower provided pursuant to Section 2.1(e) in favor of any of the Revolving Lenders evidencing the Revolving Loan provided by any such Revolving Lender pursuant to Section 2.1(a), individually or collectively, as appropriate, as such promissory notes may be amended, modified, extended, restated, replaced, or supplemented from time to time.

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

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.