Outstanding Advance definition

Outstanding Advance. As of the last day of a Monthly Period and with respect to a Lease Asset, the sum of all Monthly Payment Advances and Residual Advances made on or prior to such date, minus all payments made or collections received on or prior to such date that are specified in Section 3.06(c) and (d) of the Servicing Agreement as reducing Outstanding Advances with respect to such Lease Asset.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Outstanding Advance means the principal amount of the Advances outstanding for the time being;

Outstanding Advance as of the last day of a Collection Period and with respect to a Series 2007-SN1 Lease Asset, the sum of all Monthly Payment Advances and Residual Advances made on or prior to such date, minus all payments made or collections received on or prior to such date that are specified in Section 3.06(c) and (d) of the COLT Servicing Agreement as reducing Outstanding Advances with respect to such Series 2007-SN1 Lease Asset.

Examples of Outstanding Advance in a sentence

On each Payment Date, the Servicer shall deposit into the Collection Account an amount (such amount, an “Advance”), if positive, equal to (1) the Total Required Advances with respect to such Payment Date minus (2) the Outstanding Advance immediately following the preceding Payment Date.
If the Servicer shall determine that an Outstanding Advance with respect to any Receivable shall not be recoverable, the Servicer shall be reimbursed from any collections made on other Receivables in the Trust, and Outstanding Advances with respect to such Receivable shall be reduced accordingly.
If the Servicer shall determine that an Outstanding Advance with respect to any Receivable shall not be recoverable, the Servicer shall be entitled to reimbursement from any collections made on other Receivables pursuant to Section 9.04(a)(i), and Outstanding Advances with respect to such Receivable shall be reduced accordingly.
If IBM Credit is making an A/R Advance hereunder on a day on which Customer is to repay all or any part of an Outstanding Advance (or any other amount owing hereunder), IBM Credit shall apply the proceeds of the A/R Advance to such repayment and only an amount equal to the difference, if any, between the amount of the A/R Advance and the amount being repaid shall be made available to Customer as provided in the immediately preceding sentence.
If the Servicer shall determine that an Outstanding Advance with respect to any Actuarial Receivable shall not be recoverable as aforesaid, the Servicer shall be reimbursed from any collections (including Liquidation Proceeds) on other Actuarial Receivables in the Trust and Outstanding Advances with respect to such Actuarial Receivables shall be reduced accordingly.
On each Payment Date, the Servicer shall deposit into the Collection Account an amount (such amount, an "Advance"), if positive, equal to (1) the Total Required Advances with respect to such Payment Date minus (2) the Outstanding Advance immediately following the preceding Payment Date.
Interest shall be charged daily and shall be due and payable and posted to the Book Account monthly (the Outstanding Advance Balance, plus all accrued interest, the "Outstanding Balance").
If the Servicer shall determine that an Outstanding Advance with respect to any Receivable shall not be recoverable, the Servicer shall be entitled to reimbursement from any collections made on other Receivables pursuant to Section 8.05(a)(ii) hereof and Outstanding Advances with respect to such Receivable shall be reduced accordingly.
Any Outstanding Advance Amount not subject to the Conversion Rights shall be repaid on the Maturity Date, or, in the case of an Acceleration Event, on the Acceleration Date.
If at any time the Outstanding Advance Balance exceeds the Borrowing Base or the Aggregate Limit, AEG shall have the right to (A) require Seller to pay the amount by which such Outstanding Advance Balance exceeds the Borrowing Base or the Aggregate Limit (the "Overadvance") on demand in immediately available funds, or (B) charge the amount of the Overadvance to the Book Account where it will bear interest at the rate of twenty-four percent (24%) per annum.

More Definitions of Outstanding Advance

Outstanding Advance means on any day at 5.00pm, the aggregate amount of the Advance less the aggregate of all principal repayments of the Advance made by the Borrower. Potential Event of Default means any condition, act or event which, with the giving of any notice, the lapse of any period of time or the fulfilment of any requirement or any combination of these things could become an Event of Default. PPSA means Personal Property Securities Act 2009 (Cth).

Outstanding Advance means the Initial Advance by Crown pursuant to this Agreement plus any additional advances less any payments received by Crown, net of fees and expenses.

Outstanding Advance means, on any day by reference to which the same falls to be determined, the aggregate amount of the Advance outstanding under the Facility.

Outstanding Advance has the meaning set out in Section 2.11.