Committed Advance definition

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.

Committed Advance means a borrowing hereunder consisting of the aggregate amount of the several Committed Loans made by the Lenders to the applicable Borrower at the same time, of the same Type and, in the case of Eurocurrency Rate Advances, for the same Interest Period.

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

Examples of Committed Advance in a sentence

• The failure of any Lender to make the Committed Advance to be made by it as part of any Committed Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Committed Advance on the date of such Committed Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Committed Advance to be made by such other Lender on the date of any Committed Borrowing.

• Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender resulting from each Committed Advance owing to such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder in respect of Committed Advances.

• Each Committed Advance hereunder shall consist of borrowings made from the several Lenders ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment.

• If a Borrower fails to select the duration of an Interest Period for a Eurodollar Rate Committed Advance in accordance with the provisions contained in the definition of “Interest Period” in Section 1.1, the Agent will forthwith so notify the Borrower and the Lenders and such Committed Advances will automatically, on the last day of the then existing Interest Period therefor, Convert into Base Rate Advances.

• Accordingly, but subject to all of the terms and conditions of this Credit Agreement, each Borrower may elect from time to time to convert all or any part (subject to Section 2.03(d)) of a Dollar-denominated Committed Advance of any Type made to it into the other Type of Dollar-denominated Committed Advance; provided that any conversion of a Eurocurrency Committed Advance shall be made on, and only on, the last day of the Interest Period applicable thereto.

More Definitions of Committed Advance

Committed Advance shall have the meaning assigned to such term in Section 2.02(b).

Committed Advance means an advance by a Lender to the Borrower as part of a borrowing consisting of simultaneous Advances from each of the Lenders pursuant to Section 2.01 and refers to a Base Rate Advance or a Eurodollar Rate Advance, each of which shall be a "Type" of Advance.

Committed Advance means a Revolving Credit Advance or a Canadian Prime Rate Advance.

Committed Advance means an A Advance or a Local Currency Advance.

Committed Advance means any Advance made to a Borrower by any Lender in accordance with its Applicable Percentage pursuant to Section 2.1(a).

Committed Advance means an unfunded approval that has been issued to an Approved Vendor by Lender, pursuant to which Lender, subject to the terms of this Agreement, agrees to fund a Dealer's obligations under a purchase order submitted by a Dealer to such Approved Vendor.

Committed Advance means an Advance made to Borrower by any Bank in accordance with its Pro Rata Share of the Commit- ment pursuant to Section 2.1.