Collateral Value of the Tranche C Borrowing Base definition

Collateral Value of the Tranche C Borrowing Base means at any date the sum of the Unit Collateral Values of all Eligible Tranche C Mortgage Loans included in the Tranche C Borrowing Base at such date.
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Collateral Value of the Tranche C Borrowing Base means at any date ------------------------------------------------ the product of the aggregate outstanding principal balance of those Mortgage Loans being serviced under the Assigned Servicing Rights and included in the Tranche C Borrowing Base on such date, multiplied by the then current Assigned ---------- Servicing Rights Fair Market Value, multiplied by eighty percent (80%). ---------- "Collateral Value of the Tranche D Borrowing Base" shall mean at any date ------------------------------------------------ the product of the aggregate outstanding principal balance of those Construction Loans made by the Companies and included in the Tranche D Borrowing Base at such date which are less than thirty (30) days delinquent, multiplied by eighty ---------- percent (80%); (which amount shall be subject to adjustment as provided in Paragraph 15(l) above) provided, however, that the Collateral Value of the -------- ------- Tranche D Borrowing Base shall be subject to the following reductions: (i) in the event that any Construction Loan is secured by a mortgage or deed of trust on a single-family tract home which has remained unsold for more than one hundred eighty (180) days but less than three hundred sixty-five (365) days, the Collateral Value of the Tranche D Borrowing Base shall be reduced by the product of (A) the appraised value of such single-family tract home as shown on the appraisal delivered to the Administrative Agent by the Companies pursuant to Paragraph 11(b)(5), multiplied by (B) seventy-five percent (75%), multiplied by ---------- ---------- (C) thirty percent (30%); and (ii) in the event that any Construction Loan is secured by a mortgage or deed of trust on a single-family tract home which has remained unsold for three hundred sixty-five (365) days or more, the Collateral Value of the Tranche D Borrowing Base shall be reduced by the product of (A) the appraised value of such single-family tract home as shown on the appraisal delivered to the Administrative Agent by the Companies pursuant to Paragraph 11(b)(5), multiplied by (B) seventy-five percent (75%), multiplied by ---------- ---------- (C) eighty percent (80%).
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Collateral Value of the Tranche C Borrowing Base means, at any time, the aggregate collateral value of all Eligible Non-Conforming Mortgage Loans then included in the Tranche C Borrowing Base minus the aggregate amount of outstanding drafts payable relating to the origination or acquisition of such Eligible Non-Conforming Mortgage Loans. The collateral value of each such Eligible Non-Conforming Mortgage Loan shall be an amount equal to the applicable Advance Rate Amount.
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Examples of Collateral Value of the Tranche C Borrowing Base in a sentence

  • The aggregate principal amount of any Lender's Tranche C Loans at any time outstanding (after giving effect to the other transactions contemplated by the Borrowing Request pursuant to which a Tranche C Loan is requested) shall not exceed the lesser of: (1) such Lender's Percentage Share of the Collateral Value of the Tranche C Borrowing Base or (2) such Lender's Percentage Share of the Tranche C Sublimit.

  • At no time shall the aggregate amount of all Tranche C Loans outstanding at any time exceed the lesser of (1) the Collateral Value of the Tranche C Borrowing Base and (2) the Tranche C Sublimit.


More Definitions of Collateral Value of the Tranche C Borrowing Base

Collateral Value of the Tranche C Borrowing Base means, at any time, an amount equal to ninety-five percent (95%) of the aggregate amount of Eligible P&I Advance Receivables that are included in the Tranche C Borrowing Base at such time; provided that an Eligible P&I Advance Receivable shall cease to have any collateral value for the purpose of computing the Collateral Value of the Tranche C Borrowing Base on the date of repayment or reimbursement of any advanced amount which is an Eligible P&I Advance Receivable by any Obligor or any other Person. The Collateral Value of the Tranche C Borrowing Base shall be determined by reference to the most recent Tranche C Borrowing Base Certificate delivered by the Borrower to the Administrative Agent absent any error in such Tranche C Borrowing Base Certificate as of the date delivered.
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Related to Collateral Value of the Tranche C Borrowing Base

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Borrowing Base Amount means:

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

  • Revolving Facility Exposure means, for any Lender at any time, the sum of (i) the principal amount of Revolving Loans made by such Lender and outstanding at such time, and (ii) such Lender’s share of the LC Outstandings at such time.