Maximum Line. The sum of all outstanding advances under this Agreement shall not exceed the Maximum Line of Credit. Bank and Borrower agree that $20,000,000.00 of the Maximum Line of Credit shall be offered by the Bank in the form of a Committed Line, and that $10,000,000.00 of the Maximum Line of Credit shall be offered by the Bank in the form of an Uncommitted Line or Bulge Line. Requests for advances of amounts offered under an Uncommitted Line may or may not be honored by the Bank at the Bank’s sole discretion. Subject to the foregoing, the total amount of funds to be provided to the Closing Agent on Borrower’s behalf to assist in funding the origination of an Eligible Mortgage Loan shall not exceed the Advance Amount, unless otherwise agreed upon by Bank in writing. Bank shall have no obligation to make any advance under this Line of Credit against the security of any residential loan, the original principal amount of which exceeds seven hundred fifty thousand dollars ($750,000). In no case shall Bank have any obligation to make any Advance under this Line of Credit to the extent that such action may, in the judgment of the Bank, violate the legal lending limits applicable to Bank imposed by any applicable laws, rules, regulations or interpretations thereof. Borrower is aware that Advances made under the Line of Credit must be aggregated with other loans to Borrower and certain affiliates of Borrower for purposes of calculating Bank’s legal lending limit. Borrower represents and warrants to Bank that Borrower does not exceed Bank’s loan to one borrower limits.
Maximum Line. The sum of all outstanding advances under this Agreement shall not exceed the Maximum Line of Credit. Credit Union and Borrower agree that Five Million and No Dollars ($5,000,000) of the Maximum Line of Credit shall be offered by the Credit Union in the form of a Committed Line. Borrower is aware that Advances made under the Line of Credit must be aggregated with other loans to Borrower and Affiliates of Borrower for purposes of calculating Credit Union’s legal lending limit. Borrower represents and warrants, to the best of its knowledge, that Borrower does not exceed Credit Union’s loan to one borrower limits.
Maximum Line. The definition of “Maximum Line” as set forth in Section 1.1 of the Credit Agreement is hereby amended by deleting the figure “$2,500,000.00” set forth therein and replacing it with the figure “$2,000,000.00”.
Maximum Line. Section 1.36 of the Agreement is amended to read as follows:
Maximum Line. The definition of “Maximum Line” set forth in Section 1.1 of the Credit Agreement is hereby amended by deleting the figure “$2,000,000.00” set forth therein and replacing it with the following: “(i) $1,500,000.00 during the period from June 30, 2010 through July 31, 2010, (ii) $1,400,000.00 during the period from August 1, 2010 through August 31, 2010, (iii) $1,300,000.00 during the period from September 1, 2010 through September 29, 2010, and (iv) $1,250,000.00 from and after September 30, 2010”.
Maximum Line. Ten Million and no/100 Dollars ($10,000,000.00).
Maximum Line. The sum of all outstanding advances under this Agreement shall not exceed the Maximum Line of Credit. Bank and Borrower agree that $10,000,000.00 of the Maximum Line of Credit shall be offered by the Bank on a committed basis, and that $10,000,000.00 of the Maximum Line of Credit shall be offered by the Bank on an uncommitted basis. Requests for advances of amounts offered on an uncommitted basis may or may not be honored by the Bank at the Bank’s sole discretion. Subject to the foregoing, the total amount of funds to be provided to the Closing Agent on Borrower’s behalf to assist in funding the origination of an Eligible Mortgage Loan shall not exceed the Advance Amount, unless otherwise agreed upon by Bank in writing. Bank shall have no obligation to make any advance under this Line of Credit against the security of any residential loan, the original principal amount of which exceeds five hundred thousand dollars ($500,000). In no case shall Bank have any obligation to make any Advance under this Line of Credit to the extent that such action may, in the judgment of the Bank, violate the legal lending limits applicable to Bank imposed by any applicable laws, rules, regulations or interpretations thereof. Borrower is aware that Advances made under the Line of Credit must be aggregated with other loans to Borrower and certain affiliates of Borrower for purposes of calculating Bank’s legal lending limit. Borrower represents and warrants to Bank that Borrower does not exceed Bank’s loan to one borrower limits.
Maximum Line. The definition of "Maximum Line" as set forth in Section 1.1 is hereby amended and restated to read in its entirety as follows:
Maximum Line. Sixteen Million Five Hundred Thousand and no/100 Dollars ($16,500,000.00), which subsequently may be increased pursuant to Section 2 as provided therein but not to exceed Twenty Million and no/100 Dollars ($20,000,000.00).
Maximum Line. The maximum Line of Credit under this Agreement shall not exceed the sum of Fifteen Million DOLLARS ($15,000,000.00). Subject to the foregoing, the total amount of funds to be provided to the Closing Agent on Borrower's behalf to assist in funding the origination of an Eligible Mortgage Loan shall not exceed the Advance Amount, unless otherwise agreed upon by Bank in writing. Bank shall have no obligation to make any advance under this Line of Credit against the security of any residential loan, the original principal amount of which exceeds five hundred thousand dollars ($500,000). In no case shall Bank have any obligation to make any Advance under this Line of Credit to the extent that such action may, in the judgment of the Bank, violate the legal lending limits applicable to Bank imposed by any applicable laws, rules, regulations or interpretations thereof. Borrower is aware that Advances made under the Line of Credit must be aggregated with other loans to Borrower and certain affiliates of Borrower for purposes of calculating Bank's legal lending limit. Borrower represents and warrants to Bank that the Loans To One Borrower Certification submitted by it to Bank in connection with its application for this financing arrangement is true, complete and accurate in all material respects, and that Borrower does not exceed Bank's loan to one borrower limits.
