Delayed Advance definition

Delayed Advance has the meaning set forth in Section 1.1(b).
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Delayed Advance means the advance of Loans made available to the Borrower by the Delayed Advance Lenders after the Closing Date pursuant to Section 2.01(a)(ii) in an aggregate amount, whether made in one or two draws, not to exceed in the aggregate $275,000,000, as such amount may be adjusted from time to time in accordance with this Agreement.
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Delayed Advance has the meaning provided in the Loan Agreement.
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Examples of Delayed Advance in a sentence

  • Participant B shall deliver to Participant A on September 30, 2014 (or such other date as directed by Participant A) the Participant B Delayed Advance Amount in immediately available funds to an account specified by Participant A in writing (which may be given by e-mail).

  • At Lender’s election, and in Lender’s sole discretion, to the extent the Delayed Advance has been made, the outstanding principal balance of Note Component A-2 may be reallocated to Note B, such that the outstanding principal balance of Note B shall be increased by the then-outstanding principal balance of Note Component A-2, and Note Component A-2 shall be reduced to zero.

  • For the avoidance of doubt, notwithstanding the foregoing, the making of the Delayed Advance shall be conditioned on Lender’s receipt of reasonably acceptable Title Insurance Policies for each of the Properties.

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  • Each time that Delayed Advance Loans are made, the amount of the remaining installments of principal shall be adjusted so that each such remaining installment is in an amount equal to 0.25% of the principal amount of all Loans outstanding on the date that the Delayed Advance Loans are made (including the amount of Delayed Advance Loans made on such date).

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  • Any waiver of any condition or covenant pursuant to this Amendment is effective solely with respect to the Delayed Advance made as of the date hereof and shall not be effective with respect to any other Delayed Advance or any other matter related to the Loan or the Loan Documents.

  • After the Closing Date, the Borrower may, upon notice to the Administrative Agent, terminate the Delayed Advance Commitments, or from time to time permanently reduce the Delayed Advance Commitments; provided, that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000, or any whole multiple of $1,000,000 in excess thereof.

  • Any reduction of the Delayed Advance Commitments shall be applied to the Delayed Advance Commitment of each Delayed Advance Lender according to its Delayed Advance Percentage.

  • As of the date that any Delayed Advance is made by Lender, Borrower has obtained insurance policies reflecting the insurance coverages as set forth and certified to Lender in the Delayed Advance Officer’s Certificate, and such list accurately reflects the insurance coverage maintained with respect to each of the Properties.

Related to Delayed Advance

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

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • 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.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Permitted Advance means an advance of funds by the Assuming Bank with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Bank to advance funds with respect to a Shared-Loss Loan, that (i) in the case of such an advance, is actually made, and, in the case of such a commitment, is made and all of the proceeds thereof actually advanced, within one (1) year after the Commencement Date, (ii) does not cause the sum of (A) the book value of such Shared-Loss Loan as reflected on the Accounting Records of the Assuming Bank after any such advance has been made by the Assuming Bank plus (B) the unfunded amount of any such commitment made by the Assuming Bank related thereto, to exceed 110% of the Book Value of such Shared-Loss Loan, (iii) is not made with respect to a Shared-Loss Loan with respect to which (A) there exists a related Shared-Loss Loan Commitment or (B) the Assuming Bank has taken a Charge-Off and (iv) is made in good faith, is supported at the time it is made by documentation in the Credit Files and conforms to and is in accordance with the applicable requirements set forth in Article III of this Commercial Shared- Loss Agreement and with the then effective written internal credit policy guidelines of the Assuming Bank; provided, that the limitations in subparagraphs (i), (ii) and (iii) of this definition shall not apply to any such action (other than to an advance or commitment related to the remediation, storage or final disposal of any hazardous or toxic substance, pollutant or contaminant) that is taken by Assuming Bank in its reasonable discretion to preserve or secure the value of the collateral for such Shared-Loss Loan.

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

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

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

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

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

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

  • 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.

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.

  • 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.

  • Provider Advance means a Downgrade Advance or a Non-Extension Advance.

  • Eligible advance means an advance made before August 19, 1993.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • 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.

  • Delinquency Advance As defined in Section 8.09(a) hereof.