Definition of Temporary Advance Cap


Temporary Advance Cap means an aggregate amount equal to $1,000,000.
Sample 1

Examples of Temporary Advance Cap in a sentence

As of the Temporary Overadvance Termination Date, the entire unpaid principal balance of, and all accrued interest on, that portion of the Revolving Loans attributable to the Temporary Overadvance Availability, if not sooner repaid, will be due and payable in full and the Temporary Advance Cap will be equal to zero (0) Dollars; and, for purposes of this Agreement, the other Loan Documents and availability under the Borrowing Base, the Temporary Overadvance Availability will be terminated.
The Temporary Overadvance Availability will be added to the Borrowing Base as provided in the definition of Borrowing Base in Section 1.1. The Temporary Overadvance Availability will not exceed an amount, as at any time of determination, equal to: (a) the Temporary Advance Cap less (b) the sum of all outstanding amounts drawn (or deemed to be drawn) under the Temporary Overadvance Availability as of each date of drawing by any Borrower of the Temporary Overadvance Availability.