Additional Warehouse Lines Sample Clauses
The 'Additional Warehouse Lines' clause authorizes the borrower to establish new lines of credit secured by warehouse financing, in addition to any existing arrangements. Typically, this clause outlines the conditions under which such additional lines may be obtained, such as requiring lender approval or compliance with certain financial covenants. Its core function is to provide flexibility for the borrower to access more funding as needed, while ensuring the lender retains oversight and control over the borrower's overall indebtedness and risk exposure.
Additional Warehouse Lines. The aggregate availability (whether drawn or undrawn) under Financial Reporting Party’s Warehouse Facilities (including, without limitation, this Agreement), combined shall not be less than an amount equal to the product of (x) [***] multiplied by (y) the Maximum Aggregate Purchase Price.
Additional Warehouse Lines. Seller shall maintain mortgage funding facilities (including warehouse lines of credit, purchase facilities and off-balance sheet funding facilities) for similar assets to the Eligible Assets with other parties so that the Maximum Amount represents no more than 50% of Sellers Parties’ available warehouse credit at any time.
Additional Warehouse Lines. Seller shall maintain throughout the term of this Agreement, with a nationally recognized and established counterparty (other than Buyer) at least one loan repurchase or warehouse facility that provides funding on a committed basis in a combined amount equal to at least the Aggregate Transaction Limit.”
D. Section 34 of the Existing Master Repurchase Agreement is hereby amended by deleting section (b) in its entirety and replacing it with the following:
Additional Warehouse Lines. The Seller shall maintain at least one additional warehouse, repurchase or similar facility in an amount at least equal to the Maximum Aggregate Purchase Price.
Additional Warehouse Lines. Seller shall maintain mortgage funding facilities (including warehouse lines of credit, purchase facilities and off-balance sheet funding