SECURED ADVANCES definition
SECURED ADVANCES means Term Advances that are secured by Qualifying Securities. For purposes of this definition, the amount of Term Advances constituting Secured Advances on any day shall be equal to the aggregate mark-▇▇-market value of the Qualifying Securities held by the Paying Agent as Collateral on such day which value shall be marked-to-market by the Paying Agent from time to time but no less frequently than monthly.