LOC Advance definition

LOC Advance means, with respect to each Revolving Lender, such Lender’s funding of its participation in any LOC Borrowing.
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LOC Advance means, with respect to each Bank, such Bank’s funding of its participation in any LOC Borrowing in accordance with its Revolving Commitment Percentage.
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LOC Advance means, with respect to each Bank, such Bank’s funding of its participation in any LOC Borrowing in accordance with its Revolving Commitment Percentage. All LOC Advances shall be denominated in Dollars.
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Examples of LOC Advance in a sentence

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  • If such Bank pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Bank’s Revolving Loan included in the relevant Borrowing or LOC Advance in respect of the relevant LOC Borrowing, as the case may be.

  • No such making of an LOC Advance shall relieve or otherwise impair the obligation of the Borrowers to reimburse the Issuing Bank for the amount of any payment made by the Issuing Bank under any Letter of Credit, together with interest as provided herein.

  • Anything in this Agreement or any other Principal Document to the contrary notwithstanding, the interest rate on any Loan or any LOC Advance shall in no event be in excess of the maximum permitted by applicable law.

  • Until each Bank funds its Revolving Loan or LOC Advance pursuant to this Section 2.6(a) to reimburse the Issuing Bank for any amount drawn under any Letter of Credit, interest in respect of such Bank’s Revolving Commitment Percentage of such amount shall be solely for the account of the Issuing Bank.

  • Until each Bank funds its Revolving Loan or LOC Advance pursuant to this S ection 2.6(a) to reimburse the Issuing Bank for any amount drawn under any Letter of Credit, interest in respect of such Bank’s Revolving Commitment Percentage of such amount shall be solely for the account of the Issuing Bank.

  • In such event, each Bank’s payment to the Administrative Agent for the account of the Issuing Bank pursuant to Section 2.6(a)(ii) shall be deemed payment in respect of its participation in such LOC Borrowing and shall constitute an LOC Advance from such Bank in satisfaction of its participation obligation under this Section 2.6.

  • Notwithstanding the foregoing, no Bank shall be required to fund any other Bank's portion of an LOC Advance which such other Bank fails to fund hereunder.

  • If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Borrowing or LOC Advance in respect of the relevant LOC Borrowing, as the case may be.

  • In such event, each Bank’s payment to the Administrative Agent for the account of the Issuing Bank pursuant to S ection 2.6(a)(ii) shall be deemed payment in respect of its participation in such LOC Borrowing and shall constitute an LOC Advance fromsuch Bank in satisfaction of its participation obligation under this S ection 2.6.


More Definitions of LOC Advance

LOC Advance means each disbursement of the LOC Loan made pursuant to this Agreement upon the satisfaction or waiver of the conditions precedent to such LOC Advance set forth in Section 2 of this Agreement.
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LOC Advance means any payment or disbursement made by or on behalf of the Issuing Bank under the Letter of Credit.
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Related to LOC Advance

  • 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.

  • 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.

  • 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.

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

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

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

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

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

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

  • 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.

  • 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.

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

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Revolving Advances means Advances made other than Letters of Credit.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • 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).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

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

  • 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.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

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

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Swingline Loan means a Loan made pursuant to Section 2.04.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Equipment Advance is defined in Section 2.1.1.