Initial Advance Funding Condition means Borrower’s receipt of at least $9,000,000 in the aggregate in a single or multiple transactions, from the sale or issuance of its equity securities or from licensing proceeds.
Initial Advance means the first Advance made pursuant to Article II.
Funding Conditions With respect to any proposed Funding Date, the following conditions:
Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.
Initial Loan is defined in Section 2.1.
Additional Advance means each additional loan that is made under an RBC Homeline Plan after the initial advance, including any new or additional advances, increases to principal, or further borrowings or extensions of the term, including in the case of any fluctuating account or accounts, revolving loans, or lines of credit, additional segments of such facilities made after the initial advance. They are referred to collectively as Additional Advances.
Final Advance means an Advance made pursuant to Section 2.02(d).
Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.
Advance Date means the funding date of any Advance.
Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.
Loan Advance The meaning specified in Section 2.2(a).
Tranche A Advance has the meaning specified in Section 2.01(a).
Initial Funding Date means the Funding Date on which the first Loan is made pursuant to this Agreement, as specified in the Initial Borrower Funding Request.
Delayed Draw Funding Date means the date occurring on or after the Effective Date upon which all of the conditions to funding the Delayed Draw Term Loan set forth in Section 6.02 are satisfied and the Delayed Draw Term Loan is funded.
Agent Advance shall have the meaning provided in Section 2.01(e).
Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.
PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.
Term Advance has the meaning specified in Section 2.01(a).
Original Loan shall have the meaning set forth in the recitals hereto.
Closing Date Term Loan has the meaning specified in Section 2.01(a).
Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2022 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.
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.
Credit Event Amount means, with respect to any Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.
Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).
RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.
Draw Date means, with respect to any Distribution Date, the second Business Day immediately preceding such Distribution Date.
Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.