Over Advance definition

Over Advance means any Advances made by AR Lender pursuant to the AR Loan Documents in excess of the borrowing base formula provisions set forth in the AR Loan Documents.

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Over Advance shall have the meaning given to it in Section 2.1(d)(i) hereof.

Over Advance shall have the meaning set forth in Section 2.1.

Examples of Over Advance in a sentence

Notwithstanding that the Borrower is permitted to draw on the April 2024 Bridge Loan, in the event the April 2024 Bridge Loan results in an Over Advance, Interest on the Term Loans shall accrue and shall be paid at the Post-Default Rate until such date as there is no Over Advance.
In the event that any Monthly Borrowing Base Certificate following the Effective Borrowing Base Certificate shall reflect that the Loan Parties are in an Over Advance (other than the Permitted Over Advance) position, Interest during such period shall accrue and shall be paid at the Post-Default Rate (provided that such payment at Post-Default Rate shall not be deemed to be a waiver of any Default and/or Event of Default that may occur as a result of such Over Advance).

More Definitions of Over Advance

Over Advance means any portion of all loans and advances which on any day exceeds the Loan Availability.

Over Advance shall have the meaning given such term in Section 2.8.

Over Advance means, at any time of determination, the amount, if any, by which the Aggregate Revolving Obligations at such time exceed the Borrowing Base at such time.

Over Advance has the meaning specified therefor in Section 2.05(c)(vii).

Over Advance as defined in Section 2.5(b).

Over Advance shall have the meaning set forth in Section 12.8 hereof.

Over Advance means any portion of all loans and advances which on any day exceeds the product of the Advance Percentage multiplied by the Net Amount of Eligible Receivables.