Draw Advances definition

Draw Advances means, with respect to any Loan that is a home equity line of credit, all advances required to fund draw requests made following the Closing Date by the Mortgagor under such home equity line of credit, in each case in accordance with the terms of the applicable Loan Documents.
Sample 1

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.

Related to Draw Advances

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

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

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

  • Revolving Advance has the meaning given in Section 2.1.

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

  • 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.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • 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.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

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

  • Loans means the loans made by the Lenders to the Borrower pursuant to 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:

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

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Revolving Credit Advances means advances of principal on the Revolving Credit Loan by the Bank under the terms of this Loan Agreement to the Borrower during the term of the Revolving Credit Loan pursuant to Section 3.1.

  • Tranche A Advance means an Advance made by a Bank under Tranche 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.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Refinanced Loans has the meaning specified in Section 10.01.

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

  • Equipment Advance is defined in Section 2.1.1.

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

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

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).