Fronted Advance definition

Fronted Advance means a borrowing hereunder consisting of the aggregate amount of the several Fronted Loans made by the Fronting Lenders to Whirlpool or Whirlpool Finance, as applicable, at the same time, of the same Type and for the same Interest Period.
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Examples of Fronted Advance in a sentence

  • Notwithstanding anything to the contrary contained herein, neither Whirlpool nor Whirlpool Finance shall be permitted to request a new Fronted Advance to repay an outstanding Fronted Advance if the period from the date of the first outstanding Fronted Advance to the date of the repayment of the new Fronted Advance would exceed seven days.

  • Each Fronted Advance hereunder shall consist of borrowings made from the several Fronting Lenders ratably in proportion to the ratio that their respective Fronting Commitments bear to the Aggregate Fronting Sublimit.

  • Each repayment of a Fronted Advance may be accomplished by requesting a Committed Advance, which request is not subject to the conditions set forth in Section 5.03.

  • Each Fronted Advance made or continued hereunder shall be in the minimum Dollar Amount of $25,000,000.

  • The Fronting Agent will notify Whirlpool, Whirlpool Finance and each Fronting Lender of the interest rate applicable to each Fronted Advance promptly upon determination of such interest rate; provided, however, that the Fronting Agent’s failure to give any such notice will not affect Whirlpool’s or Whirlpool Finance’s obligation to pay interest to the Fronting Lenders at the applicable interest rate.

  • Any such prepayment pursuant to the foregoing provisions of this Section 2.08 of a Eurocurrency Committed Advance, a Fronted Advance or a Competitive Bid Loan prior to the end of its applicable Interest Period shall be subject to the provisions of Section 3.05.

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  • Any such prepayment pursuant to the foregoing provisions of this Section 2.08 of a Eurocurrency Committed Advance or a Fronted Advance prior to the end of its applicable Interest Period shall be subject to the provisions of Section 3.05.

  • Whirlpool or Whirlpool Finance, as applicable, shall give the Fronting Agent, with a copy to the Administrative Agent, an irrevocable notice substantially in the form of Exhibit “K” hereto (a “Fronted Borrowing Notice”) not later than 9:30 a.m. (London, England time) on the Borrowing Date of each Fronted Advance.

  • Whirlpool or Whirlpool Finance, as applicable, shall give the Fronting Agent, with a copy to the Administrative Agent, an irrevocable notice substantially in the form of Exhibit "K" hereto (a "Fronted Borrowing Notice") not later than 9:30 a.m. (London, England time) on the Borrowing Date of each Fronted Advance.

Related to Fronted Advance

  • 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.

  • Permitted Advance means an advance of funds by the Assuming Bank with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Bank to advance funds with respect to a Shared-Loss Loan, that (i) in the case of such an advance, is actually made, and, in the case of such a commitment, is made and all of the proceeds thereof actually advanced, within one (1) year after the Commencement Date, (ii) does not cause the sum of (A) the book value of such Shared-Loss Loan as reflected on the Accounting Records of the Assuming Bank after any such advance has been made by the Assuming Bank plus (B) the unfunded amount of any such commitment made by the Assuming Bank related thereto, to exceed 110% of the Book Value of such Shared-Loss Loan, (iii) is not made with respect to a Shared-Loss Loan with respect to which (A) there exists a related Shared-Loss Loan Commitment or (B) the Assuming Bank has taken a Charge-Off and (iv) is made in good faith, is supported at the time it is made by documentation in the Credit Files and conforms to and is in accordance with the applicable requirements set forth in Article III of this Commercial Shared- Loss Agreement and with the then effective written internal credit policy guidelines of the Assuming Bank; provided, that the limitations in subparagraphs (i), (ii) and (iii) of this definition shall not apply to any such action (other than to an advance or commitment related to the remediation, storage or final disposal of any hazardous or toxic substance, pollutant or contaminant) that is taken by Assuming Bank in its reasonable discretion to preserve or secure the value of the collateral for such Shared-Loss Loan.

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Revolving Advance has the meaning given in Section 2.1.

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

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

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Revolving Credit Lender pursuant to Section 2.02(b).

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Local Currency Advance means any Advance, denominated in Pounds Sterling, Euro, or any other Agreed Currency which CIF requests the Local Currency Banks to include as a Local Currency and which is reasonably acceptable to the Local Currency Banks, made to CIF pursuant to Sections 2.03A and 2.03B of the Credit Agreement and this Addendum. A Local Currency Advance shall bear interest at the rate specified in Schedule II.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Japan Local Currency Advance means any Advance, denominated in Japanese Yen, made to CFKK pursuant to Sections 2.03C and 2.03D of the Credit Agreement and this Addendum. A Japan Local Currency Advance shall bear interest at the rate specified in Schedule II.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Defaulted Advance means, with respect to any Lender Party at any time, the portion of any Advance required to be made by such Lender Party to the Borrower pursuant to Section 2.01 or 2.02 at or prior to such time that has not been made by such Lender Party or by the Administrative Agent for the account of such Lender Party pursuant to Section 2.02(e) as of such time. In the event that a portion of a Defaulted Advance shall be deemed made pursuant to Section 2.15(a), the remaining portion of such Defaulted Advance shall be considered a Defaulted Advance originally required to be made pursuant to Section 2.01 on the same date as the Defaulted Advance so deemed made in part.

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

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • 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.

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

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

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

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.