Definition of Special Advance Amount


Special Advance Amount means $1,900,000 during the First Special Advance Period, $2,150,000 during the Second Special Advance Period, and $0 at all other times.

Examples of Special Advance Amount in a sentence

Subject to the terms and conditions of this Agreement, Lender shall make Special Advances available to Borrowers in an amount not to exceed the Special Advance Amount." 2.4 Section 2.2 is hereby amended by changing the reference to "applicable Revolving Interest Rate" in the last sentence thereof to "applicable Contract Rate." 2.5 Section 3.1 is hereby amended in its entirety to read as follows: "3.1 Interest.
For purposes of the foregoing calculation, for calendar year 2003 an amount equal to the product of (I) $10,000,000 multiplied by (II) a fraction, the numerator of which is the number of months during 2003 that the Special Advance Amount is outstanding and the denominator of which is 12 (the "2003 Maximum Amount") shall be substituted for $10,000,000 in such calculation.
Notwithstanding the foregoing, (x) any Borrower (other than Parent) may make Distributions and other payments to the owner of such Borrower; and (y) after the payment in full of the Mezzanine Loan and the Special Advance Amount, and provided no Default or Event of Default shall have occurred, be continuing or would exist after giving effect thereto, any Borrower may make dividends or Distribution.
Subject to the provisions of this Agreement, Borrowers may request Advances under the Revolving Facility up to and including the value, in U.S. Dollars, of the sum of (i) eighty five percent (85%) of the Borrowing Base plus (ii) the Special Advance Amount minus (iii) if applicable, amounts reserved pursuant to this Agreement (such calculated amount being referred to herein as the "Availability").