Examples of Loan Advance in a sentence
The notice must specify the amount of the requested Revolving Loan Advance (which shall not be less than $250,000 and in an integral multiple of $50,000) and be in substantially the form of Exhibit A (a “Borrowing Request”).
The Loan Advance shall be disbursed on the Loan Opening Date, and thereafter there shall be no obligation for any Lender to fund any further advances under the Loan.
The principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date in an amount equal to the product of the outstanding Term Loan principal balance multiplied by the Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.
The Lenders shall fund each Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan Advance is satisfied as of the requested Advance Date.
Each Lender shall promptly remit to the other Lender such sums as may be necessary to ensure the ratable repayment of each Lender’s portion of any Term Loan Advance.