Examples of Advance Date in a sentence
Interest will be calculated on the basis of a 360-day year, based on the number of days elapsed and shall accrue daily commencing on the Advance Date until payment in full by the Borrower of the Borrower’s Indebtedness.
Each Request for Loan shall be signed by an Authorized Officer and shall specify: (i) the Advance Date for the requested Loan which shall be a Business Day; (ii) the principal amount of the Loan to be borrowed, which amount shall not be less than the minimum amount set forth in Section 2.2(a)(iii) and shall not exceed the Available Commitment as of the proposed Advance Date; and (iii) that the proceeds of the requested Loan shall be used solely for any purpose permitted pursuant to Section 6.15 hereof.
The Lender will deduct the amount of the Arrangement Fee from the Principal Amount of the Loan advanced to the Borrower on the Advance Date, unless otherwise agreed to by the Parties.