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.

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Borrower Advances means 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.

Borrower Advances means, as of any relevant date, all cash of a borrower held by the Company Group to fund renovations, improvements, insurance and FF&E of such borrower.

Examples of Borrower Advances in a sentence

• Unless otherwise defined herein or the context otherwise requires, all capitalized terms used herein shall have the same meanings as in the Borrower Advances Agreement, except that “Borrower” as used herein shall be synonymous with “Member” as used in the Borrower Advances Agreement.

• Pledgor hereby acknowledges and agrees that it has received a copy of the Borrower Advances Agreement (including all amendments thereto) and that it is familiar with the terms and conditions thereof.

• No waiver by the Bank of any such Event of Default shall be effective unless in writing and signed by an authorized officer of the Bank, and no such waiver shall be deemed to be a waiver of a subsequent Event of Default under the Borrower Advances Agreement or be deemed to be a continuing waiver.

• Borrower: Advances under the line shall be made to Nobility Homes, Inc.

• Lender will lend to Borrower Advances in minimum amounts as set forth in this Amendment up to a maximum of the Commitment Amounts as provided below.

• The Pledgor Collateral shall constitute collateral for all purposes under the Borrower Advances Agreement and, in addition to any rights or duties with respect to the Pledgor Collateral created by this Pledge Agreement, the Pledgor and the Bank shall have the same rights and duties with respect to the Pledgor Collateral as do Borrower and the Bank, respectively, with respect to Collateral under the Borrower Advances Agreement.

• No delay on the part of the Bank in exercising any right, power or privilege shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or privilege preclude other or further exercise thereof or the exercise of any other right, power or privilege or be construed to be a waiver of any Event of Default under the Borrower Advances Agreement.

• Subject in each case to the provisions of Sections 2.10 and 2.13, Canadian Borrower Advances in US Dollars may be Canadian Base Rate Advances or Eurocurrency Rate Advances only and Canadian Borrower Advances in Canadian Dollars may be Canadian Prime Rate Advances only.

• No course of dealing between Borrower or Pledgor, respectively, and the Bank or its agents or employees shall be effective to change, modify or discharge any provision of this Pledge Agreement, or the Borrower Advances Agreement or to constitute a waiver of any Event of Default there under.

• The Canadian Borrower shall repay to the Agent for the ratable account of the Canadian Lenders on the Termination Date the aggregate principal amount of the Canadian Borrower Advances then outstanding; provided that the Canadian Borrower shall repay such amount in the currency in which such Canadian Borrower Advance was made.