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

  • The Delayed Advance is not in the nature of a revolving credit facility, and amounts borrowed and repaid hereunder may not be re-borrowed.

  • Each request for a Delayed Advance shall specify (i) the aggregate principal amount of the Delayed Advance requested and (ii) the requested date of such advance, which shall be a Business Day at least six (6) Business Days after the date of such request.

  • 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).

  • Each Delayed Advance is not in the nature of a revolving credit facility, and amounts borrowed and repaid hereunder may not be re-borrowed.

  • Each Delayed Advance shall be made on the requested date by wire transfer of immediately available funds to such account as the Borrower shall specify.

  • Interest on each Delayed Advance shall begin to accrue on the date that such Delayed Advance is made to Borrower.

  • Borrower and each Lender shall reasonably cooperate to amend the Loan Documents to effectuate the purposes of this clause (f), provided that any such amendment shall not increase the obligations and liabilities, or decrease the rights and remedies, of any Lender hereunder (except for the rights and obligations of any Lender that agrees, in its sole discretion, to accept a lower interest rate or increase the Maximum Delayed Advance Amount, and then, only to the extent necessary to effectuate the same).

  • 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.

  • Interest on the Delayed Advance shall begin to accrue on the date that such Delayed Advance is made to Borrower.