DRY BORROWING definition
DRY BORROWING means a Warehouse Borrowing for which all of the Collateral Documents have been delivered to Agent in accordance with SECTION 4.3.
DRY BORROWING means a Borrowing for which all of the Collateral Documents have been delivered to Administrative Agent in accordance with Section 4.3.
DRY BORROWING means a Warehouse Borrowing that is (a) not a Gestation Borrowing or Wet Borrowing, (b) supported by the Borrowing Base for Mortgage Collateral, and (c) to be advanced by Associates to Ryland under the Intercompany Note. Eligible-Foreclosure Receivable means, at any time, any claim by Ryland in respect of a Foreclosure Payment for which the applicable conditions for eligibility described in Schedule 1.1(c) are satisfied.
More Definitions of DRY BORROWING
DRY BORROWING means a Borrowing for which all of the Collateral Documents have been delivered to Administrative Agent in accordance with SECTION 4.3. ELIGIBLE-MORTGAGE COLLATERAL means, at any time, all Eligible-Mortgage Loans and all Eligible-Mortgage Securities.
DRY BORROWING means a HELOC Borrowing which is not a Wet Borrowing.