Secured Advance definition

Secured Advance means an advance made, on the security of materials brought to site of work, by a contractor whose contract is for completed items of work (i.e. for both labour and material).
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Secured Advance is defined in Section 2.1.1.
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Secured Advance has the meaning given to it in clause 5.8;
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Examples of Secured Advance in a sentence

  • T(hereinafter called the Employer) has paid the A Secured Advance against the cost of material through any Bank or like agency by any other method by virtue of the terms of the contract existing between the parties.

  • Whereas (hereinafter called the Employer) has paid the Secured Advance against the cost of material through any Bank or like agency by any other method by virtue of the terms of the contract existing between the parties.

  • All the Secured Advance allowed will be deducted while making payment of any bill for the work done and a fresh Secured Advance on the materials remaining then at Site will be paid along with the same bill.

  • Such purchase price shall be payable in immediately available funds on the Cash Secured Advance Commencement Date for such Bank.

  • Following such notice, on the Cash Secured Advance Commencement Date for such Bank, such Bank shall, and agrees to, purchase from the Investor such Bank’s ratable share of all Receivable Interests then owned by the Investor for a purchase price equal to the sum of such Bank’s ratable share of the Capital of such Receivable Interests plus accrued and unpaid Yield and Fees thereon.

  • The Seller shall repay to each Term-Out Bank the aggregate outstanding principal amount of such Bank’s Cash Secured Advance on the Commitment Termination Date; provided, however, that recourse for such repayment shall be from, and shall be limited to, the Term-Out Bank Collateral and the Collections of the Pool Receivables in accordance with Section 2.04.

  • Added Tax Deduction 2 % from the registered contractors under the ▇▇▇▇ ▇▇▇, ▇▇▇▇ and 5 % from the unregistered contractor under ▇▇▇▇ ▇▇▇, ▇▇▇▇, shall be recovered from the contractor from the ▇▇▇▇▇ ▇▇▇▇ amount of every ▇▇▇▇, whether for measured works or Advance Payment or Secured Advance.

  • On the Banking Day after the Adjustment Date, a portion of the Cash Secured Advance shall be subject to mandatory prepayment and become due and payable in an amount equal to the difference (if any) between the amount of such Cash Secured Advance then on deposit in the Cash Secured Advance Account minus such Lender Group's Available Construction Loan Commitment as of such date.

  • On or before the Effective Date, Xyvision and Tudor Trust each shall execute and deliver the First Amendment to Second Amended and Restated Secured Advance Facility Loan Agreement (the "Amended Loan Agreement"), substantially in the form attached hereto as Exhibit A.

  • This Section 11.2 shall not apply to any Cash Secured Advance Account.


More Definitions of Secured Advance

Secured Advance means as advance made on the security of materials brought at site of work or on furnishing of Bank Guarantee of a suitable amount determined by the Competent Authority.
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Secured Advance means the amount specified in the Payment Schedule that is paid by PUBLIC WORKS DEPARTMENT to the Contractor pursuant to Clause 23.2
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Secured Advance means the further advance of US$50,000 advanced by Rhys to the Target upon the receipt of TSXV approval for same, which advance is secured by the Promissory Note.
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Secured Advance is defined in Section 2.1.1..
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Related to Secured Advance

  • 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.

  • Secured Loan has the meaning specified in Section 2(e) hereof.

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

  • 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.

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