Examples of Draw Advances in a sentence
To the extent Servicer is not reimbursed pursuant to Section 2.05(v), Owner shall pay the Servicer on the Deficit Payment Date the Cost of Funds (if any) incurred by the Servicer in connection with any HELOC Draw Advances accrued in the prior month for such Remittance Date.
On each Remittance Date, Owner shall reimburse Servicer for HELOC Draw Advances.
In addition, the Servicer shall be entitled to monthly reimbursement pursuant to Section 2.05 hereof for HELOC Draw Advances with respect to HELOC Mortgage Loans.
Thereafter and until the consummation of a Qualified MLP IPO, the Debt Service Reserve Account shall be funded with the proceeds, to the extent available, of the Delayed Draw Advances, Working Capital Advances, DSR Letters of Credit or Cash on hand up to the Debt Service Reserve Requirement, and maintained as set forth in the Depositary Agreement.
The Servicer may also retain funds constituting Collections in an amount equal to Intra-Month Draw Advances and Premium Advances funded by the Servicer to the extent the Servicer has not otherwise been reimbursed therefor as contemplated in this Indenture or the Servicing Agreement, and the Servicer shall not be required to deposit such withheld funds in the Collection Account.
The Master Servicer will then use such amounts to purchase, or reimburse Countrywide for HELOC Draw Advances in respect of, Additional Balance Advance Amounts and Excluded Amounts.
Furthermore, Borrower directs each Lender, and each Lender agrees, to give written instructions to the Custodian on the Delayed Draw Funding Date to transfer the proceeds of the Delayed Draw Advances deposited into the Collateral Account pledged to such Lender on the Delayed Draw Funding Date pursuant to instructions reasonably acceptable to the Borrower and each Lender.
Conditions Precedent to Delayed Draw Advances on the Delayed Draw Funding Date 69 AFFIRMATIVE COVENANTS OF BORROWER Section 5.01.
Each such prepayment of Term A Advances, Term B Advances and, after the Conversion Date, Delayed Draw Advances shall be applied to the installments thereof in the order specified by the Company.
Thereafter, and prior to the date on which Commercial Operations are achieved, the Borrower shall deposit into the Construction Disbursement Account all proceeds of the Delayed Draw Advances (except to the extent such proceeds are used to fund the Debt Service Reserve Account pursuant to Section 3.1(a)) and all proceeds of the Working Capital Advances permitted to be deposited therein in accordance with Section 5.09(c)(iii) of the Credit Agreement.