INTEREST ON ADVANCES definition

INTEREST ON ADVANCES. Interest shall accrue from the date of each Advance under the Line of Credit at one of the following rates, as quoted by the Bank and as elected by the Borrower below:
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INTEREST ON ADVANCES shall be payable in arrears on the first Business Day of each month with respect to Domestic Rate Loans and, with respect to Eurodollar Rate Loans, at the end of 33 each Interest Period, and if such Interest Period is longer than three (3) months, also on the 90th day of such Interest Period. Interest charges shall be computed on the actual principal amount of Advances outstanding during the month (the "Monthly Advances") at a rate per annum equal to, with respect to Revolving Advances, the applicable Revolving Interest Rate. Whenever, subsequent to the date of this Agreement, the Alternate Base Rate is increased or decreased, the Revolving Interest Rate for Domestic Rate Loans shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such change in the Alternate Base Rate during the time such change or changes remain in effect. The Eurodollar Rate shall be adjusted with respect to Eurodollar Rate Loans without notice or demand of any kind on the effective date of any change in the Reserve Percentage as of such effective date. Upon and after the occurrence of an Event of Default, and during the continuation thereof, (A) the Obligations other than Eurodollar Rate Loans shall bear interest at the Revolving Interest Rate for Domestic Rate Loans plus two percent (2%) per annum and (B) Eurodollar Rate Loans shall bear interest at the Revolving Interest Rate for Eurodollar Rate Loans plus two percent (2%) per annum (as applicable, the "Default Rate").
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INTEREST ON ADVANCES. Escrow Balance: Other Advances: Suspense Balance: Servicing Advance Holdbacks: Restricted Escrow: Property Inspection: Rental Income BPO: Received: ________________________________ *All amounts will be itemized, and to the extent not itemized, this form will be accompanied by documentation supporting all amounts claimed on this form.
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Examples of INTEREST ON ADVANCES in a sentence

  • INTEREST ON ADVANCES..............................................................

  • ADDITIONAL INTEREST ON ADVANCES BASED ON THE LIBOR RATE 19 Section 2.08.

  • ADDITIONAL INTEREST ON ADVANCES BASED ON THE LIBOR RATE.19 Section 2.08.


More Definitions of INTEREST ON ADVANCES

INTEREST ON ADVANCES. For the Initial Advance, 10.25% per annum. For all subsequent Advances, a fixed interest rate per annum, which shall be equal to the greater of (a) 10.25% and (b) the sum of 9.21% plus the Three-Year U.S. Treasuries Rate determined as of the date of each such subsequent Advance. Facility Fee: 1.0% per annum of the Facility Amount, payable on the Closing Date and, thereafter, annually in advance on each anniversary date of this Agreement (but not including the Final Advance Date).
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INTEREST ON ADVANCES. Escrow Balance: Other Advances: Suspense Balance: Servicing Advance Holdbacks: Restricted Escrow: Property Inspection: Rental Income Received: BPO:
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INTEREST ON ADVANCES shall be payable in arrears on the first day of each month with respect to Domestic Rate Loans and, with respect to Eurodollar Rate Loans, at the end of each Interest Period or, for Eurodollar Rate Loans with an Interest Period in excess of three months, at the earlier of (a) each three months from the commencement of such Eurodollar Rate Loan or (b) the end of the Interest Period. Interest charges shall be computed on the actual principal amount of Advances outstanding during the month at a rate per annum equal to the applicable Interest Rate. Whenever, subsequent to the date of this Agreement, the Alternate Base Rate is increased or decreased, the Interest Rate for Domestic Rate Loans shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such change in the Alternate Base Rate during the time such change or changes remain in effect. Notwithstanding the foregoing, Agent acknowledges that it will give Borrowers notice of such change in the Alternate Base Rate, however such notice may be given after the change is in effect. The Eurodollar Rate shall be adjusted with respect to Eurodollar Rate Loans without notice or demand of any kind on the effective date of any change in the Reserve Percentage as of such effective date. Upon and after the occurrence of an Event of Default, and during the continuation thereof, at the option of Agent or at the direction of Required Lenders, the Obligations shall bear interest at the applicable Interest Rate plus two (2%) percent per annum (the "Default Rate").
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INTEREST ON ADVANCES. Interest shall accrue from the date of each Advance under the Equipment Purchase Facility at one of the following rates, as quoted by the Bank and as elected by the Borrowers pursuant to Subsection (i) or Subsection (ii) or Subsection (iii) below:
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INTEREST ON ADVANCES. Interest shall accrue from the date of each Advance under the AR Line of Credit at a variable rate per annum equivalent to the Reference Rate plus 2% (the "Variable Rate"). Interest shall be adjusted concurrently with any change in the Reference Rate. An Advance based upon the Variable Rate is hereinafter referred to as a "Variable Rate Advance". Interest shall be computed on the basis of 360 days per year, but charged on the actual number of days elapsed. Each Borrower hereby jointly and severally promises and agrees to pay interest in arrears on the last calendar day of each month. If interest is not paid as and when it is due, it shall be added to the principal, become and be treated as a part thereof, and shall thereafter bear like interest.
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INTEREST ON ADVANCES shall be payable in arrears on the last day of each month. Interest charges shall be computed on the actual principal amount of Revolving Advances outstanding at the end of each day at a rate per annum equal to the Revolving Interest Rate for Domestic Rate Loans and the Average Monthly LIBOR Rate with respect to LIBOR Rate Loans. Commencing thirty (30) days after the due date for any financial statement required hereunder which financial statement indicates the occurrence of an Event of Default, and during the continuation of such Event of Default, the Obligations shall bear interest at the applicable Revolving Interest Rate plus two (2%) percent per annum (the "Default Rate")."
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Related to INTEREST ON ADVANCES

  • Interest Only Loan means a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Simple Interest Advance means, with respect to a Simple Interest Receivable, the amount, as of the last day of a Collection Period, which is advanced with respect to such Simple Interest Receivable by the Servicer pursuant to Section 4.4(a) of the Sale and Servicing Agreement.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Floating Rate Interest Payment Date has the meaning provided in Section 2.7(b).

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

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Interest-Only Period means the period from and including the first Borrowing Date and through and including the sixteenth (16th) Payment Date following the first Borrowing Date.

  • Floating Rate Interest Period means each period commencing on the date of the Closing and, thereafter, commencing on a Floating Rate Interest Payment Date and continuing up to, but not including, the next Floating Rate Interest Payment Date.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Arrears for this purpose means, in respect of a Loan, on any date that two or more Monthly Payments have become due and remain unpaid by the relevant Borrower, and this reporting line relates to repurchases under clause 8.11 of the Mortgage Sale Agreement.

  • Prime Rate Advance means an Advance that bears interest based at the Prime 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.

  • Fixed Rate Interest Payment Date has the meaning set forth in clause (d) of Section 2.01 of this Supplemental Indenture.

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

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Periodic Rate Cap With respect to each Adjustable Rate Mortgage Loan and any Adjustment Date therefor, the fixed percentage set forth in the related Mortgage Note, which is the maximum amount by which the Mortgage Rate for such Mortgage Loan may increase or decrease (without regard to the Maximum Mortgage Rate or the Minimum Mortgage Rate) on such Adjustment Date from the Mortgage Rate in effect immediately prior to such Adjustment Date.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Interest Reset Period The period beginning on the applicable Reset Date and ending on the calendar day preceding the next Reset Date.

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

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Basic Rate means the applicable basic minimum wage rate prevailing on the date 28 days prior to the latest date for submission of Tenders, by reason of any National or State Statute or Ordinance.

  • Class B Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date.