Excess Advance Amount definition

Excess Advance Amount means, on any date of determination with respect to each Advance under any Note, an amount equal to the total proceeds of such Advance that were not applied by the Borrower to pay, or be reimbursed for, Eligible Project Costs relating to the Project for which such Advance was sought as set forth in the most recent Agreed-Upon Procedures Report (other than any such proceeds which have not yet been applied within the applicable 30-day period contemplated by Sections 2.3(b)(v) and 5.3(h) and (k), provided that any such proceeds not so applied within such period shall be taken into account as an Excess Advance Amount on the next date of determination).
Sample 1
Excess Advance Amount has the meaning set forth in Section 10.2(g). “Exchange” has the meaning set forth in Section 4.7.
Sample 1
Excess Advance Amount means, on any date of determination with respect to each Advance under any Note, an amount equal to the total proceeds of such Advance that were not applied by the Borrower to pay Eligible Project Costs relating to the Project for which such Advance was sought as set forth in the most recent Agreed-Upon Procedures Report.
Sample 1

Examples of Excess Advance Amount in a sentence

  • Upon the expiration of such Owner Objection Period, Owner shall be deemed to have accepted, and shall be bound by, such Owner Statement and the amount of such Owner Excess Advance Amount, unless Owner shall have informed Sublicensee in writing of its disagreement with such Owner Excess Advance Amount prior to the expiration of the applicable Owner Objection Period (the “Owner Objection”), setting forth in reasonable detail the basis for each such dispute (each, an “Owner Disputed Item”).

  • If Owner and Sublicensee are able to negotiate a mutually agreeable resolution of each Owner Disputed Item, and each signs a certificate to that effect, the Owner Statement and the calculation therein of the Owner Excess Advance Amount, as adjusted to reflect such resolution, shall be deemed final, non-appealable and binding for purposes of this Agreement.

  • Owner shall remit to Sublicensee (a) the Owner Excess Advance Amount if no Owner Objection is made by Owner during the Owner Objection Period, (b) the amount of the mutually agreeable resolved Owner Excess Advance Amount if Owner submits an Owner Objection within the Owner Objection Period, upon the mutually agreeable resolution as described above.

  • Venture shall remit to Sublicensee (a) the Venture Excess Advance Amount if no Venture Objection is made by Venture during the Venture Objection Period, (b) the amount of the mutually agreeable resolved Venture Excess Advance Amount if Venture submits a Venture Objection within the Venture Objection Period, upon the mutually agreeable resolution as described above.

  • Upon the expiration of such Venture Objection Period, Venture shall be deemed to have accepted, and shall be bound by, such Venture Statement and the amount of such Venture Excess Advance Amount, unless Venture shall have informed Sublicensee in writing of its disagreement with such Venture Excess Advance Amount prior to the expiration of the applicable Venture Objection Period (the “Venture Objection”), setting forth in reasonable detail the basis for each such dispute (each, a “Venture Disputed Item”).

  • If Venture and Sublicensee are able to negotiate a mutually agreeable resolution of each Venture Disputed Item, and each signs a certificate to that effect, the Venture Statement and the calculation therein of the Venture Excess Advance Amount, as adjusted to reflect such resolution, shall be deemed final, non-appealable and binding for purposes of this Agreement.

  • ABSENT: None The Board led the Pledge of Allegiance – Bill McCreary read the Mission Statement.

  • Concurrently herewith, the Borrower shall be deemed to have borrowed the Excess Advance Amount under the Credit Agreement and satisfied its obligation to repay such amount pursuant to Section 2.02(b)(ii) under the Tax Sharing Agreement, such simultaneous borrowing and repayment to occur through book entry rather than transfer of funds.

Related to Excess Advance Amount

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Available Facility Amount is defined in Section 2.2(a).

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Total loan amount means the principal of a loan minus those points and fees that are included in the principal amount of the loan. For open-end loans, the total loan amount must be calculated using the total line of credit allowed under the residential mortgage loan at closing. [PL 2011, c. 427, Pt. A, §15 (NEW).]

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

  • Overcollateralization Increase Amount With respect to any Distribution Date, the lesser of (a) the Overcollateralization Deficiency Amount as of such Distribution Date and (b) the Net Monthly Excess Cashflow for such Distribution Date.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Maximum Advance Rate means 80.0%.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.