Initial Loan Advance definition

Initial Loan Advance has the meaning set forth in Section 2.1(a).
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Initial Loan Advance means the first Loan Advance made on the “Closing Date” under the Original Credit Agreement.
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Initial Loan Advance means the first advance of the Loan Amount or part of the Loan Amount and includes the only advance if the entire Loan Amount is advanced at one time. INSURED LENDER means the insured lender specified in the Schedule. INSURED MORTGAGE means each mortgage specified in Exhibit A to the Agreement.
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Examples of Initial Loan Advance in a sentence

  • Any such waiver and any such amendment, supplement or modification shall apply equally to each Lender and shall be binding upon Borrower, Lenders, Agent, and all future holders of the Initial Loan Advance.

  • The principal balance of the Initial Loan Advance and each Subsequent Draw, shall bear interest thereon from the Closing Date and applicable Advance Date, respectively, at the Interest Rate based on a year consisting of three hundred sixty (360) days, with interest computed daily based on the actual number of days elapsed.

  • In addition, upon the occurrence and during the continuation of an Event of Default hereunder, the Initial Loan Advance and all Subsequent Draws, including principal, interest, compounded interest, and professional fees thereupon, shall upon the election of the Agent or the Lenders bear interest at the Interest Rate, plus five (5) percentage points.


More Definitions of Initial Loan Advance

Initial Loan Advance has the meaning given in Section 2.1.
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Initial Loan Advance means the portion of the Loan referred to in clause 4.1.2(a);
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Initial Loan Advance means the first (initial) advance of borrowed funds by DCS to Company pursuant to this Agreement, as referenced in Section 5 below.
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Initial Loan Advance. $3,000,000, as part of the Loan.
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Initial Loan Advance means an amount equal to the sum of Nineteen Million Six Hundred Fifty Thousand Dollars ($19,650,000).
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Initial Loan Advance means the Loan A Advance made by the Lender pursuant to the Loan Agreement on the Closing Date.
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Related to Initial Loan Advance

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

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • 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. All L/C Advances shall be denominated in Dollars.

  • Term Loan as defined in Section 2.1.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Term SOFR Advance means an Advance denominated in Dollars which, except as otherwise provided in Section 2.11, bears interest at the Adjusted Term SOFR Rate.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.