Credit B Loan definition

Credit B Loan means a Mortgage Loan (other than a Mortgage Loan that satisfies all the requirements of an Eligible Mortgage Loan) the obligor of which has a Credit Score as described on Exhibit G hereto.
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Credit B Loan means a Mortgage Loan underwritten in accordance with the Borrowers' standards for a credit B loan as approved by the Lender from time to time.
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Credit B Loan contained in Section 1.01 of the Warehouse Credit Agreement is amended to read in full as follows:
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Examples of Credit B Loan in a sentence

  • Each such notice shall specify (i) the principal amount of the Revolving Credit Loan requested and whether such request is for a Revolving Credit A Loan or a Revolving Credit B Loan, (ii) the proposed Drawdown Date of such Revolving Credit Loan, (iii) the Interest Period for such Revolving Credit Loan, and (iv) the Type of such Revolving Credit Loan.

  • The Borrower promises to pay on the Revolving Credit B Loan Maturity Date, and there shall become absolutely due and payable on the Revolving Credit B Loan Maturity Date, all of the Revolving Credit B Loans outstanding on such date, together with any and all accrued and unpaid interest thereon.

  • All funds advanced by any Revolving Bank as a Settling Bank pursuant to this ss.2.11 shall for all purposes be treated as a Revolving Credit A Loan or Revolving Credit B Loan, as the case may be, made by such Settling Bank to the Domestic Borrowers and all funds received by any Revolving Bank pursuant to this ss.2.11 shall for all purposes be treated as repayment of amounts owed with respect to Revolving Credit A Loans or Revolving Credit B Loans, as the case may be, made by such Revolving Bank.

  • If Banks holding at least 75% of the Revolver B Commitments consent to the extension by so notifying the Administrative Agent in writing 30 Business Days prior to the Initial Maturity Date (the "Extension Date"), the Revolving Credit B Loan Maturity Date shall be extended for 364 days from the Extension Date in respect of the Revolver B Commitments of such consenting Banks.

  • Each Revolving Credit B Loan to the Borrowers shall be denominated in Dollars.

  • Each request for a Revolving Credit B Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in Section 11 and Section 12, in the case of the initial Revolving Credit B Loans to be made on the Closing Date, and Section 12, in the case of all other Revolving Credit B Loans, have been satisfied on the date of such request.

  • Prior to the initial Advance under this Agreement, Borrower shall, under the Existing Agreement, have terminated the Line of Credit B Loan Commitments in whole in accordance with the terms of Section 2.3(c) of the Existing Agreement (giving effect to the waiver of the five day advance notice requirement set forth in Section 10.36 of this Agreement).

  • The Company may, provided that no Default or Event of Default has occurred and is continuing, by written notice to the Administrative Agent given not more than ninety (90) days nor less than sixty (60) days prior to the Revolving Credit B Loan Maturity Date in effect at any time (the "Initial Maturity Date") request that the Revolving Credit B Loan Maturity Date be extended to the date which is 364 days after the Initial Maturity Date.

  • Each request for a Revolving Credit B Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in (S)10 and (S)11, in the case of the initial Revolving Credit B Loans to be made on the Closing Date, and (S)11, in the case of all other Revolving Credit B Loans, have been satisfied on the date of such request.

  • Borrower agrees to pay to the Agent for distribution to the Lenders (based on their respective Pro Rata Percentages) quarterly commitment fees ("COMMITMENT FEES") from the Closing Date to the Maturity Date, calculated using the then applicable rates per annum set forth in the definition of Applicable Margin, and applied to the daily average of the Line of Credit A Loan Commitments and the Line of Credit B Loan Commitments, respectively.

Related to Credit B Loan

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Letter of Credit Borrowing means any Credit Extension resulting from a drawing under any Letter of Credit that has not been reimbursed or refinanced as a Borrowing of Revolving Loans.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment.

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Term Loan as defined in Section 2.1.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Swingline Loan means a Loan made pursuant to Section 2.04.