First Advance definition

First Advance has the meaning ascribed to it in Section 2.02(a).

First Advance. (a) in relation to the Andros Ship and the Andros Tranche, means the Andros First Advance;

First Advance means the first advance by the Lender of the Loan;

Examples of First Advance in a sentence

• Each Financing Provider shall make its portion of the First Advance available to the Company no later than 3:00 p.m. (New York City time) on the Effective Date in accordance with the terms set forth in Section 3.01.

• The parties hereby agree and acknowledge that the interest rate of the First Advance set forth herein is consistent with prevailing fair market rates for similar loans.

• The obligation of the Bank to make available the First Advance in respect of any Ship shall be subject to the condition that the Bank or its duly authorised representative shall have received, on or prior to the drawdown of the relevant First Advance, the documents and evidence specified in Part 2 of schedule 2 in respect of such Ship, in form and substance satisfactory to the Bank.

• Lender’s calculations of accrued interest on the First Advance shall be binding and conclusive in the absence of manifest error.

• Accrued interest on the First Advance shall be due and payable at maturity.

More Definitions of First Advance

First Advance shall have the meaning ascribed thereto in Section 2.3 hereof.

First Advance means the first Advance made to the Borrower under this Agreement.

First Advance has the meaning specified in Section 3.1(a).

First Advance means a Facility A Loan of up to $124,000,000.

First Advance means the first advance of the principal amount under the Loan made by BCHMC;

First Advance means the sum of the aggregate principal amount advanced under each of Tranche A and Tranche B to the Borrower under the Credit Facility pursuant to Section 4.1.

First Advance. (a) in relation to the Santon Ship and the Santon Tranche, means the Santon First Advance; or