Permitted Advance definition
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.
Permitted Advance means an advance of funds by the Assuming Institution with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Institution to advance funds with respect to a Shared-Loss Loan, that
Permitted Advance is an advance on a Shared-Loss Loan which is made by the Assuming Institution in good faith, justified by contemporaneous supporting documentation in the Credit File, in accordance with the applicable requirements set forth in Article 3 and with the then effective written internal credit policy guidelines of the Assuming Institution and which meets the following criteria:
Examples of Permitted Advance in a sentence
The amount which AEG advances with respect to any Receivable Pool shall not exceed the amount of the Maximum Permitted Advance for that Receivable Pool.
The principal amount of such Advance (i) does not exceed the Available Commitment on such Funding Date and (ii) when added to the Total Outstanding Advances on such Permitted Advance Date (before giving effect to the Advance to be made on such Permitted Advance Date), does not result in a Borrowing Base Deficiency after giving effect to such Advance.
The County shall be entitled to reimbursement from the City with respect to the TIF Deficit Financing from the same sources of revenue outlined in Section 3.7.2 above; provided, however, that any such reimbursement to the County shall be subject first, to the City’s repayment to the County of the Phase IIIB Permitted Advance, and second, to the City’s repayment to the County of the TIF Deficit Financing actually paid by the County.
The references to “Permitted Advance” and “Permitted Advances” in Sections 3.2, 3.5 and 6.2 shall be amended to include references to “Phase IIIB Permitted Advance” and “Phase IIIB Permitted Advances”; and in the event of a Future Permitted Advance, “Future Permitted Advance” and “Future Permitted Advances”.
The Administrative Agent shall have received confirmation that the Lenders constituting at least the Required Revolving Credit Lenders shall have consented to the forms of the Fifteenth Amendment Permitted Advance Payment Agreement, the Fifteenth Amendment Commercial Contracts and the Fifteenth Amendment Subordination Agreement, in each case, with [***].
More Definitions of Permitted Advance
Permitted Advance has the meaning set forth in Section 2.8(a).
Permitted Advance means an advance of funds by the Assuming Institution with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Institution to advance funds with respect to a Shared-Loss Loan, that Module 1 – Whole Bank w/ Loss Share – P&A 101 Turnberry Bank Version 2.07 Aventura, Florida June 10, 2010
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 Whole Bank P&A w/Loss Sharing 82 Suburban Federal Savings Bank January 30, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ 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 Non-SF 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 to preserve or secure the value of the collateral for such Shared-Loss Loan.
Permitted Advance has the meaning set forth in Section 2.8(a). Module 1 – Whole Bank w/ Optional Shared Loss Agreements C-34 Summit Bank Version 3.1.1 – PURCHASE AND ASSUMPTION AGREEMENT Burlington, Washington April 27, 2011
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 Module 1 – Whole Bank w/ Loss Share – P&A Version 1.02 March 16, 2009 84 TeamBank, N.A. Paola, Kansas 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 Non-SF 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 to preserve or secure the value of the collateral for such Shared-Loss Loan.
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
Permitted Advance has the meaning set forth in Section 2.7(a). “Permitted Amendment” has the meaning set forth in Section 2.7(b).