Sterling Advance definition

Sterling Advance means an advance by a UK Bank to the UK Borrower pursuant to this Appendix 2 (as divided or combined from time to time as contemplated in the definition herein of “Sterling Borrowing”), which bears interest as provided in Section 2B.5.
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Sterling Advance means an Advance denominated in Sterling.
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Sterling Advance means an Advance made under the Sterling Facility;
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Examples of Sterling Advance in a sentence

  • The UK Borrower shall repay the unpaid principal amount of each Sterling Advance owed to each UK Bank on the Termination Date.

  • In response to any such Request for a Sterling Advance, the Bank shall respond to the Borrower by 11:30 a.m. (London time) on the business day of the proposed Sterling Advance specifying the applicable Adjusted LIBOR Rate for such Sterling Advance (the "Offer for Sterling Advance").

  • Unless otherwise agreed, accrued interest with respect to each Sterling Advance shall be payable in arrears on the last day of an Interest Period for such Sterling Advance.

  • The Borrower may then by telephone or telecopy (and if by telephone, promptly confirmed by telecopy) by 11:30 a.m. (London time) on the business day of the proposed Sterling Advance, in its sole discretion, accept or reject the Offer for Sterling Advance.

  • The Borrower agrees to indemnify the Bank against all reasonable losses, expenses and liabilities sustained by the Bank on account of the Borrower (i) failing to accept a Sterling Advance after notice to the Bank of its acceptance of any such Sterling Advance and (ii) making a prepayment on a Sterling Advance prior to the last day of an Interest period.

  • The terms of each Sterling Advance shall be noted on the schedule attached hereto, the terms of which shall be presumed correct absent evidence of error; provided, however that any failure to make such notation (or any inaccuracy in such notation) shall not limit or otherwise affect the obligations of the Borrower hereunder.

  • That is, they favor "CT, not COIN," to use the acronyms commonly employed for each concept.

  • Failure by the Borrower to accept an Offer for Sterling Advance by the appropriate time shall be deemed to be rejection of such Offer for Sterling Advance.

  • Upon receipt of such a request for a Sterling Advance hereunder, the Bank shall make any such Sterling Advance hereunder on the terms and conditions set forth herein and in the Loan Agreement; provided, however, the Bank shall not be obligated to make such advance unless Conso has satisfied the conditions set forth in Section 2.05 of the Loan Agreement.

  • Each Sterling Advance owed to the UK Bank by the UK Borrower pursuant to the Credit Agreement, and all payments made on account of principal thereof, shall be recorded by the UK Bank and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Sterling Promissory Note; provided that the failure of the UK Bank to make any such recordation or endorsement shall not affect the obligations of the UK Borrower hereunder or under the Credit Agreement.


More Definitions of Sterling Advance

Sterling Advance has the meaning specified therefor in Section 2.16(b) of the Agreement.
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Related to Sterling Advance

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Revolving Advance has the meaning given in Section 2.1.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • 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.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Loan Advance The meaning specified in Section 2.2(a).

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

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

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

  • Monthly Advance The portion of each Monthly Payment that is delinquent with respect to each Mortgage Loan at the close of business on the Determination Date required to be advanced by the Company pursuant to Section 5.03 on the Business Day immediately preceding the Remittance Date of the related month.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Cash Advance means the amount requested by you and advanced to you by any method approved by us according to the terms of this Agreement in cash or cash equivalent items (including, but not limited to, money orders, travelers checks, lottery tickets, casino chips, vouchers redeemable for cash, or racetrack xxxxxx).

  • Nonrecoverable Advance Any portion of an Advance previously made or proposed to be made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by the Master Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise.

  • Eligible advance means an advance made before August 19, 1993.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Committed Loan has the meaning specified in Section 2.01.

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

  • Revolving Advances means Advances made other than Letters of Credit.