Discretionary Advances definition

Discretionary Advances means all credit extended by the Lender in its sole discretion to the Borrower following the Closing Date. For the avoidance of doubt, the advances from the Lender to the Borrower after the Closing Date (and on or prior to August 15, 2013) in the amount of $***** are deemed to be Discretionary Advances.
Sample 1
Discretionary Advances means those advances (if any) which Lender may elect in its sole and absolute discretion to make upon the request of Borrower from time to time pursuant to Section II.E hereof.
Sample 1
Discretionary Advances has the meaning set forth in Section 2.16 of this Agreement.
Sample 1

Examples of Discretionary Advances in a sentence

  • Discretionary Advances, and interest thereon, shall be evidenced by the Note and shall be due and payable in accordance with the Loan Documents.

  • Each Borrower's obligation to pay the Discretionary Advances shall be evidenced by the Discretionary Advance Note and shall be secured by the Collateral as provided in Article III.

  • The Lender may, in its discretion, make one or more advances (the "Discretionary Advances") to a Borrower at the written request of such Borrower.

  • Any Borrower may prepay that portion of Term A Advances, CapEx Advances, Term B Advances, or Discretionary Advances (other than in accordance with Section 2.7) made to such Borrower, and the Borrowing Agent may terminate the Credit Facility or reduce the Maximum Line at any time if such Borrower or Borrowing Agent (i) gives the Lender at least 30 days' prior written notice and (ii) pays the Lender the prepayment, termination or line reduction fees in accordance with Section 2.13.

  • The Lender will not consider any request for a Discretionary Advance if, after giving effect to such Discretionary Advance, the sum of all Discretionary Advances made to the Borrowers would exceed the Discretionary Advance Limit.

  • Any prepayment of the Term A Advances, CapEx Advances, Term B Advances, or Discretionary Advances (other than in accordance with Section 2.7) or reduction in the Maximum Line must be in an amount not less than $500,000 or an integral multiple thereof.

  • The Borrowers shall be obligated to repay all Discretionary Advances notwithstanding the Lender's failure to receive such confirmation and notwithstanding the fact that the person requesting the same was not in fact authorized to do so.

  • If the Lender makes Discretionary Advances after the initial Discretionary Advance, the amount of each installment will be increased so that the remaining payments would fully amortize the outstanding principal balance of the Discretionary Advance Note in substantially equal amounts by the Assumed Maturity Date; and (2) On the Maturity Date, the entire unpaid principal balance of the Discretionary Advance Note, and all unpaid interest accrued thereon, shall in any event be due and payable.

  • Each Borrower agrees to comply with the following procedures in requesting Discretionary Advances: (1) Such Borrower shall make each request for a Discretionary Advance to the Lender before 11:00 a.m. (Denver time) two Banking Days before the day of the requested Discretionary Advance.

  • Fixed Rate Borrowings shall not be available with respect to Discretionary Advances.


More Definitions of Discretionary Advances

Discretionary Advances means all credit extended by the Lender in its sole discretion to the Borrower following the Closing Date. For the avoidance of doubt, the advances from the Lender to the Borrower after the Closing Date (and on or prior to August 15, 2013) in the amount of$4,102,939.72 are deemed to be Discretionary Advances.
Sample 1

Related to Discretionary Advances

  • Extraordinary Advances has the meaning specified therefor in Section 2.3(d)(iii) of this Agreement.

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

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

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

  • 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.

  • Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

  • Protective Advance has the meaning assigned to such term in Section 2.04.

  • Unfunded Advances/Participations means (a) with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Borrower on the assumption that each Lender has made available to the Administrative Agent such Xxxxxx’s share of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.12(b) and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by the Borrower or made available to the Administrative Agent by any such Lender, and (b) with respect to any L/C Issuer, the aggregate amount, if any, of amounts drawn under Letters of Credit in respect of which a Revolving Credit Lender shall have failed to make Revolving Credit Loans or L/C Advances to reimburse such L/C Issuer pursuant to Section 2.03(d).

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

  • Monthly Advances Principal and interest advances and servicing advances including costs and expenses of foreclosure.

  • Nonrecoverable Advances Means, with respect to any Mortgage Loan, (a) any Delinquency Advance or Servicing Advance previously made and not reimbursed pursuant to Section 5.03 of the Sale and Servicing Agreement, or (b) a Delinquency Advance proposed to be made in respect of a Mortgage Loan or REO Property either of which, in the good faith business judgment of the Servicer, as evidenced by an Officer’s Certificate delivered to the Indenture Trustee no later than the Business Day following such determination, would not ultimately be recoverable pursuant to Section 5.03 of the Sale and Servicing Agreement.

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

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • 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.

  • Loan Repayments means the sum of (i) Trust Bond Loan Repayments, (ii) the Administrative Fee and (iii) any late charges incurred under the provisions of a Loan Agreement.

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

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category.

  • Revolving Advance has the meaning given in Section 2.1.

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

  • Advances Outstanding On any day, the aggregate principal amount of all Advances outstanding on such day, after giving effect to all repayments of Advances and the making of new Advances on such day.

  • Available Master Servicer Compensation With respect to any Distribution Date, the sum of (a) the Master Servicing Fee for such Distribution Date, (b) interest earned through the business day preceding the applicable Distribution Date on any Prepayments in Full remitted to the Master Servicer and (c) the aggregate amount of Month End Interest remitted by the Servicers to the Master Servicer pursuant to the related Servicing Agreements.

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

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

  • Lender’s Account means the account identified in Schedule L-1.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • 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.