Closing Advance definition

Closing Advance has the meaning specified inSection2.3Section 2.3.
Sample 1
Closing Advance means an advance of the Loan in the amount of $40,300,000.00, which shall be comprised of a Term Loan advance in the amount of $16,033,333.00 and a Revolving Loan advance in the amount of $24,266,667.00.
Sample 1
Closing Advance means the Advance in the amount of $1,000.00 to be made on the Closing Date. CONSTRUCTION LOAN AND SECURITY AGREEMENT – PAGE 3
Sample 1

Examples of Closing Advance in a sentence

  • Consider approving the State Fiscal Year 2024 Drinking Water State Revolving Fund Intended Use Plan covering general activities.

  • Within sixty (60) days after receipt by the Borrower of written notice of such determination and requirement, the Borrower shall prepay the Second Amended and Restated Closing Advance in such an amount and, so long as no Event of Default has occurring and is continuing on the date of such prepayment, no Yield Maintenance Fee shall be due in connection with such prepayment.

  • Closing Advance balance at the end of current reporting Quarter/period (as per bank statement) 6.

  • The parties acknowledge and agree that, at the Closing, Seller shall hold certain amounts in cash or other forms of payment or security constituting advance deposits for reservations for space at the Hotel subsequent to the Closing ("Advance Deposits").

  • Some implied that privacy is synonymous with secrecy and complete confidentiality – that as soon as personal information is available to anyone else, privacy is lost.

  • On the Issue Date, the Purchaser will advance the Closing Advance, such amount exceeding the lesser of $50,000 or 5% of the purchase price of the Bonds.

  • Subject to certain requirements set forth in the Supplemental Agreement, the Bonds will be purchased by the Purchaser in installments referred to in the Bond Indenture as Principal Advances, including a Closing Advance, a Final Advance and all intervening Principal Advances.

  • The representations and warranties in this Agreement and in any certificates or documents delivered to the Lender in connection therewith shall not merge in or be prejudiced by, and shall survive the Closing Advance and shall continue in full force and effect so long as any amount is owing by the Borrower to the Lender under this Agreement.

  • The indebtedness of the Borrower resulting from the Closing Advance shall be evidenced by the records of the Lender, which shall constitute prima facie evidence of such indebtedness.

  • Ensure that the Closing Advance shall be used solely for the purposes set out in Section 2.5.


More Definitions of Closing Advance

Closing Advance shall have the meaning assigned to it in Section 7.d.(iii).
Sample 1
Closing Advance means the Principal Advance in the amount of $ transferred by the Purchaser to the Bond Trustee on the Issue Date pursuant to the Purchase Contract for deposit in accordance with the Bond Indenture.
Sample 1
Closing Advance means, collectively, (i) the Principal Advance on the Series 2014A Bonds in the amount of $ paid by the Original Purchaser to the Bond Trustee pursuant to the Purchase Contract on the Closing Date for deposit in accordance with Section 402 hereof, and (ii) the Principal Advance on the Series 2014B Bonds in the amount of $ paid by the Corporation to the Bond Trustee on the Closing Date for deposit in accordance with Section 402 hereof.
Sample 1
Closing Advance has the meaning specified in Section 2.2.
Sample 1

Related to Closing Advance

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Closing Adjustment has the meaning set forth in Section 2.04(a)(ii).

  • Tax Advance has the meaning set forth in Section 6.02(a).

  • Nonrecoverable Monthly Advance Any Monthly Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Seller, will not, or, in the case of a proposed Monthly Advance, would not be, ultimately recoverable from related late payments, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Nonrecoverable Servicing Advance Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Master Servicer, will not or, in the case of a proposed Servicing Advance, would not be ultimately recoverable from related Late Collections, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Nonrecoverable P&I Advance Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Servicer using Accepted Servicing Practices, will not or, in the case of a proposed P&I Advance, would not be ultimately recoverable from related Late Collections, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Nonrecoverable Property Advance shall have the meaning assigned thereto in the Outside Servicing Agreement.

  • Monthly Advance The portion of each Monthly Payment that is delinquent with respect to each Mortgage Loan at the close of business on the Determination Date required to be advanced by the Company pursuant to Section 5.03 on the Business Day immediately preceding the Remittance Date of the related month.

  • Nonrecoverable Advance Any portion of an Advance previously made or proposed to be made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by the Master Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise.

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Revolving Advance has the meaning given in Section 2.1.

  • Closing Adjustment Amount shall have the meaning set forth in Section 2.3(b)(i)(A).

  • Closing Amount has the meaning set forth in Section 2.2(a).

  • P&I Advance Date The Business Day immediately prior to each Distribution Date.

  • Closing Date Statement has the meaning set forth in Section 2.06(b).

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

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Final Advance means an Advance made pursuant to Section 2.02(d).