Freddie Mac Commitment definition

Freddie Mac Commitment means the commitment from Freddie Mac to the Initial Funding Lender pursuant to which Freddie Mac has agreed to purchase the Funding Loan, subject to the terms and conditions set forth therein, as such commitment may be amended, modified or supplemented from time to time.
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Freddie Mac Commitment means the commitment from Freddie Mac to the Xxxxxxx Xxx Xxxxxx/Servicer pursuant to which Freddie Mac has agreed to purchase the Funding Loan following the Conversion Date, subject to the terms and conditions set forth therein, as such commitment may be amended, modified or supplemented from time to time.
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Freddie Mac Commitment is defined in the Recitals of this Project Loan Agreement.
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Examples of Freddie Mac Commitment in a sentence

  • Additionally, in the event the outstanding principal amount of the Funding Loan on the Conversion Date is less than the starting principal amount set forth in the initial Funding Loan Amortization Schedule, a new Funding Loan Amortization Schedule will be generated on the Conversion Date at such lesser outstanding principal amount based on the parameters set forth in the Freddie Mac Commitment, subject to receipt of a Favorable Opinion of Bond Counsel as aforesaid.

  • The Federal Home Loan Mortgage Corporation, a shareholder-owned government- sponsored enterprise (“ Freddie Mac”), has entered into a commitment with the Initial Funding Lender dated [ ], 2022 (the “Freddie Mac Commitment”) whereby Freddie Mac has agreed to purchase the Funding Loan upon the date of satisfaction of the conditions set forth in the Freddie Mac Commitment (the “Freddie Mac Purchase Date”).

  • The blanket agreement may be renewed at the same terms and conditions for up to one (1) one-year option periods unless canceled by either party.BLANKET AGREEMENT TYPE AND PRICING This is a firm, fixed price or fixed percent discount, indefinite delivery and indefinite quantity blanket agreement.

  • Additionally, in the event the outstanding principal amount of the Funding Loan on the Conversion Date is less or greater than the starting principal amount set forth in the initial Funding Loan Amortization Schedule, a new Funding Loan Amortization Schedule will be generated on the Conversion Date at such lesser or greater outstanding principal amount based on the parameters set forth in the Freddie Mac Commitment, subject to receipt of a Favorable Opinion of Bond Counsel as aforesaid.

  • If the Conditions to Conversion are satisfied on or before the Forward Commitment Maturity Date as provided for in the Freddie Mac Commitment and the Construction Phase Financing Agreement, the Project Loans will convert from the Construction Phase to the Permanent Phase on the Conversion Date and, on such Conversion Date, the Initial Funding Lender shall deliver, and the Xxxxxxx Mac Seller/Servicer shall purchase, the Funding Loans, as evidenced by the Governmental Notes.

  • Exhibit B – List of Capital Replacement Includes list of type of items approved for replacement or improvement and list conforms to Freddie Mac Commitment i.

  • Yes, the DSR will be required on all loans, except in very limited cases, and will be documented in the Loan Agreement rider, which is attached to the Freddie Mac Commitment.

  • Additionally, in the event the outstanding principal amount of the Funding Loan on the Conversion Date is less than the starting principal amount set forth in the initial Governmental Note Amortization Schedule, a new Governmental Note Amortization Schedule will be generated on the Conversion Date at such lesser outstanding principal amount based on the parameters set forth in the Freddie Mac Commitment.

  • Additionally, in the event the outstanding principal amount of the Funding Loan on the Conversion Date is less than the starting principal amount set forth in the initial Funding Loan Amortization Schedule, a new Funding Loan Amortization Schedule will be generated on the Conversion Date at such lesser outstanding principal amount based on the parameters set forth in the Freddie Mac Commitment.

  • On or about April 2, 2013, AmeriSave applied to add residential mortgage loan 12 servicing authority to its CRMLA license by submitting a CRMLA Amendment to the 13 Commissioner.


More Definitions of Freddie Mac Commitment

Freddie Mac Commitment means, collectively, the commitments for the Mortgage Loan with respect to the Project from the Lender and from Freddie Mac.
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Related to Freddie Mac Commitment

  • L/C Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.23.

  • Loan Commitment has the meaning set forth in Section 2.1.

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Lenders as the same may be decreased or increased pursuant to the terms of this Agreement. As of the Closing Date, the amount of the Total Revolving Commitment is $250,000,000.

  • Multicurrency Commitment means, with respect to each Multicurrency Lender, the commitment of such Multicurrency Lender to make Syndicated Loans, and to acquire participations in Letters of Credit, denominated in Dollars and in Agreed Foreign Currencies hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Multicurrency Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.08 or as otherwise provided in this Agreement and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Multicurrency Commitment is set forth on Schedule 1.01(b), or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Multicurrency Commitment, as applicable. The aggregate amount of the Lenders’ Multicurrency Commitments as of the Effective Date is $100,000,000.

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.