Commitment to Make Warehouse Advances Against Eligible Conversion Notes Clause Samples

Commitment to Make Warehouse Advances Against Eligible Conversion Notes. Subject to the applicable terms and conditions of the Loan Agreement and this Agreement and from time to time prior to the Maturity Date, Lender agrees to make Warehouse Advances to Borrower up to the current Warehouse Commitment. Warehouse Advances shall be used by Borrower for general working capital purposes. Warehouse Advances shall continue to be made at the request of Borrower, in the manner provided in SECTION 2.2 of the Loan Agreement against the pledge of such Eligible Conversion Loans and Eligible Mortgage Loans as Collateral therefor. The Maximum Allowed Warehouse Advance against any Eligible Conversion Loan shall be an amount equal to 100% of the face amount of such Eligible Conversion Loan.