Initial Advances definition

Initial Advances has the meaning assigned to that term in Section 2.6(d)(iii).

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Initial Advances has the meaning set forth in Section 2.14(e).

Initial Advances has the meaning set forth in Section 2.1(c).

Examples of Initial Advances in a sentence

• Subject to the terms and conditions of this Agreement, each Conduit Lender may, in its sole discretion, and if the Conduit Lender does not, the applicable Granting Lender shall, and each of the other Lenders shall, during the Additional Advance Commitment Period, ratably make Advances to the Borrower in such amounts as may be requested by the Borrower pursuant to Section 2.2 (the “Additional Advances”, and, together with the Initial Advances, the “Advances”).

• The Borrower’s Initial Advance Request shall be irrevocable unless and to the extent otherwise agreed among the parties in connection with closing the Initial Advances.

• At least three (3) Business Days prior to the Initial Advance Date or the First Amendment Effective Date, as the case may be (or such shorter period as shall have been agreed by the Administrative Agent), the Borrower may request Initial Advances hereunder, by giving notice (herein called an “Initial Advance Request”) to the Administrative Agent, each Lender and each Conduit Lender.

More Definitions of Initial Advances

Initial Advances means that certain portion of each Tranche to be advanced at the request of the Borrower pursuant to Section 3.1 no later than ten (10) Banking Days after the last applicable condition precedent is satisfied, in the maximum principal amount with respect to each Tranche, equal to the amount that the Borrower has paid to the Builder as of the Closing Date as pre-delivery installments relating to each Vessel which is in excess of ******% of the Contract Price for such Vessel;

Initial Advances means the Series 2014D Initial Advance and the Series 2018 Initial Advance collectively.

Initial Advances means, collectively, the Series 2020A Initial Advance and the Series 2020B Advance.

Initial Advances means the Advances made on or prior to the date hereof by Green Matter and PSG referred to in Section 2.3(b) below.

Initial Advances has the meaning set forth in Section 2.14(e). “Interest Coverage Ratio” means the ratio determined at the end of each Fiscal Quarter of (1) Consolidated EBITDA to (2) Consolidated Interest Expense, for the four (4) Fiscal Quarters then ended. “Interest Payment Date” means the first day of each month. “Interest Period” means: (1) with respect to each Adjusted Term SOFR Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the first, third or sixth month thereafter, as the Borrower may elect in the applicable Notice of Borrowing; provided that: (a) any Interest Period (subject to clause (c) below) which would otherwise end on a day which is not a Domestic Business Day shall be extended to the next succeeding Domestic Business Day unless such Domestic Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Domestic Business Day;

Initial Advances means the Advances to the Borrowers on the Effective Date pursuant to the letter referred to in SECTION 4.1.1.12.

Initial Advances shall have the meaning ascribed to them in Recital A (iii);