Warehousing Advances. To obtain a Warehousing Advance under this Agreement, Borrower must deliver to Lender either a completed and signed request for a Warehousing Advance on the then current form approved by Lender, or an Electronic Advance Request, together with a list of the Mortgage Loans for which the request is being made and a signed RFConnects Pledge Agreement sent by facsimile (“Warehousing Advance Request”), not later than (i) in the case of Electronic Advance Requests, 2:30 p.m. on the Business Day, and (ii) in all other cases, 1 Business Day before the Business Day on which Borrower desires the Warehousing Advance. Subject to the delivery of a Warehousing Advance Request and the satisfaction of the conditions set forth in Sections 5.1 and 5.2, Borrower may obtain a Warehousing Advance under this Agreement upon compliance with the procedures set forth in this Section and in the applicable Exhibit B, including delivery to Lender of all required Collateral Documents. Lender’s current form of Warehousing Advance Request is set forth in Exhibit A. Upon not less than 3 Business Days’ prior Notice to Borrower, Lender may modify its form of Warehousing Advance Request, RFConnects Pledge Agreement and any other Exhibit or document referred to in this Section to conform to current legal requirements or Lender practices and, as so modified, those Exhibits and documents will become part of this Agreement. End of Article 2
Warehousing Advances. 2.1(a) To obtain a Warehousing Advance under this Agreement, Borrowers must deliver to Credit Agent either a completed and signed request for a Warehousing Advance on the then current form approved by Credit Agent or an Electronic Advance Request, ("Warehousing Advance Request"), not later than (i) in the case of Electronic Advance Requests, 2:30 p.m. on the Business Day, and (ii) in all other cases, 1 Business Day before the Business Day, on which Borrowers desire the Warehousing Advance. Subject to the delivery of a Warehousing Advance Request, Borrowers may obtain a Warehousing Advance under this Agreement upon compliance with the procedures set forth in this Section and in the applicable Exhibit B, including delivery to Credit Agent of all required Collateral Documents. Credit Agent's current form of Warehousing Advance Request is set forth in the applicable Exhibit A. Upon not less than 3 Business Days' prior Notice to Borrowers, Credit Agent may modify its form of Warehousing Advance Request, and any other Exhibit or document referred to in this Section to conform to either current legal requirements or Credit Agent practices and, as so modified, those Exhibits and documents will become part of this Agreement. Credit Agent will promptly notify Lenders of any changes made to any document under the preceding sentence.
Warehousing Advances. (a) Borrower shall deliver to Administrative Agent a request for approval (“Approval Request”), substantially in the form of Exhibit A, together with any and all information underlying or supporting the calculations set forth therein, on a Business Day that is no later than ten (10) Business Days before the Business Day on which the Borrower desires the funding of a Warehousing Advance. The Approval Request must be accompanied by the Credit Underwriting Documents. Within ten (10) Business Days after receipt of an Approval Request, the Credit Underwriting Documents and any other supporting documents that Administrative Agent may request (subject to an additional five (5) Business Days of review to evaluate any recognized environmental condition on the subject Property), if, based on its review and analysis of the foregoing materials, Administrative Agent has determined, in its sole discretion, that the subject Mortgage Loan conforms in all respects with the applicable requirements of this Agreement, Administrative Agent may approve the Warehousing Advance by returning the Approval Request executed by Administrative Agent to the Borrower by written Notice, including e-mail. Administrative Agent shall use its best efforts to respond to the Borrower within the time frame set forth above, but if Administrative Agent does not respond to the Approval Request within the time period set forth herein, the Approval Request shall be deemed denied. After an Approval Request has been approved by Administrative Agent, Borrower must submit a Warehousing Advance Request to Administrative Agent in accordance with Section 2.1(b). Upon not less than ten (10) Business Days’ prior Notice to Borrower and not affecting any Warehousing Advance Requests already received by the Administrative Agent, Administrative Agent may modify its form of Approval Request and any other document or requirement referred to in this Section 2.1(a) to conform to current legal requirements or Administrative Agent practices and, as so modified, those documents or requirements will become part of this Agreement.
Warehousing Advances. To obtain a Warehousing Advance under this Agreement, Borrower must deliver to Lender a completed and signed request for a Warehousing Advance on the then current form approved by Lender ("Warehousing Advance Request"), not later than 1 Business Day before the Business Day on which Borrower desires the Warehousing Advance. Subject to the delivery of a Warehousing Advance Request and the satisfaction of the conditions set forth in Sections 5.1 and 5.2, Borrower may obtain a Warehousing Advance under this Agreement upon compliance with the procedures set forth in this Section and in the applicable Exhibit B, including delivery to Lender of all required Collateral Documents. Lender's current form of Warehousing Advance Request is set forth in Exhibit A. Upon not less than 3 Business Days' prior Notice to Borrower, Lender may modify its form of Warehousing Advance Request, and any other Exhibit or document referred to in this Section to conform to current legal requirements or Lender practices and, as so modified, those Exhibits and documents will become part of this Agreement.
Warehousing Advances. (1) AT LEAST 1 BUSINESS DAY PRIOR TO THE DATE OF THE WAREHOUSING ADVANCE: Credit Agent must receive the following:
Warehousing Advances. 7 3.2. Wet Settlement Advances........................................8 4.
Warehousing Advances. 3.1(a) To obtain a Warehousing Advance or an RFC Direct Advance under this Agreement, Borrower must deliver to Credit Agent, either a completed and signed request for an Advance on the then current form approved by Credit Agent or an Electronic Advance Request, together with a list of Mortgage Loans for which the request is being made and a completed and signed RFConnects Pledge Agreement sent by facsimile ("Advance Request"), not later than (i) in the case of Electronic Advance Requests, 3:30 p.m. on the Business Day on which Borrower desires the Advance, and (ii) in all other cases, unless the Credit Agent agrees otherwise, one Business Day before the Business Day on which Borrower desires the Advance. Subject to the delivery of a Advance Request, Borrower may obtain an Advance under this Agreement upon compliance with the procedures set forth in this Section and in the applicable Exhibit B, including delivery to Credit Agent of all required Collateral Documents. Credit Agent's current form of Advance Request is set forth in the applicable Exhibit A. Upon not less than 3 Business Days' prior Notice to Borrower, Credit Agent may modify its form of Advance Request and any other Exhibit referred to in this Section to conform to either current legal requirements or Credit Agent practices and, as so modified, those Exhibits will be deemed a part of this Agreement.
Warehousing Advances. Borrower may obtain a Warehousing Advance under this Agreement by delivering to Lender a completed and signed request for a Warehousing Advance on Lender’s then current form (“Warehousing Advance Request”), not later than Four O’Clock (4:00) p.m. on the Business Day that is one (1) Business Day before the Business Day on which Borrower desires the Warehousing Advance. Warehousing Advance Requests received by Lender after Four O’Clock (4:00) p.m. on a Business Day will be deemed received on the following Business Day, provided, however, on a case-by-case basis at the request of Borrower, Lender may, in its sole discretion (and without thereby establishing any course of dealing), extend such Four O’Clock
Warehousing Advances. Each of U.S. Bank, Comerica and -------------------- National City Bank shall make Warehousing advances on the Increase Date, as requested by the Agent, so that in outstanding Warehousing Advances are equal to its respective Commitment Percentage of all Warehousing Advances outstanding on the Increase Date. If the outstanding principal balance of all Warehousing Advances on the Reduction Date exceeds the sum of the Commitment Amounts, after giving effect to the termination of such temporary increases in the Commitment Amounts of U.S. Bank, Comerica, and National City Bank, the Borrower shall repay the Warehousing Advances in the amount of such excess on the first Business Day following the Reduction Date. Provided there is no Default or Event of Default or any other failure to satisfy the Date, the Agent shall request that each of the Lenders (other than U.S. Bank, Comerica, and National City Bank) make Warehousing Advances on the first Business Day following the Reduction Date in the amount, if any, required to increase its outstanding Warehousing Advances to its Commitment Percentage of all outstanding Warehousing Advances, and shall deliver the proceeds of such Warehousing Advances to the Agent; provided, -------- however, that should any Lender fail to make such Warehousing Advances on the ------- first Business Day following the Reduction Date, the Borrower shall repay the Warehousing Advances in the amount that such Lender failed to deliver to the Agent. The Agent shall distribute to U.S. Bank, Comerica, and National City Bank on the first Business Day following the Reduction Date, out of any payments made by the Borrower as set forth above and the proceeds of Warehousing Advances made by the other lenders as set forth above, the amount required to reduce U.S. Bank's, Comerica's, and National City Bank's outstanding Warehousing Advances to its respective Commitment Percentage of all outstanding Warehouse Advances.
Warehousing Advances. 2.3.1 To obtain a Warehousing Advance under this Agreement, a Borrower must deliver to Agent, not later than 1 Business Day before the Business Day on which such Borrower desires the Warehousing Advance, a completed and signed request for a Warehousing Advance ("Warehousing Advance Request"), on the then current form approved by Agent.
