Jumbo Advance Sublimit definition
Jumbo Advance Sublimit means an amount equal to Seventy Five Percent (75%) of the Total Warehouse Line Commitment.
Jumbo Advance Sublimit means an amount equal to ten percent (10%) of the Total Warehouse Line Commitment. “Government Loan” shall mean a Loan secured by a Government Mortgage (including any FHA Loan or VA Loan which exceeds the
Jumbo Advance Sublimit means an amount equal to ten percent (10%) of the Total Warehouse Line Commitment.
Examples of Jumbo Advance Sublimit in a sentence
Each Bank severally agrees to lend to the Company, and the Company agrees to borrow from each Bank, on the terms and conditions of this Credit Agreement, an aggregate amount not exceeding such Bank’s respective Warehouse Line Commitment, and the aggregate amount of all such Warehouse Line Commitments shall equal the Total Warehouse Line Commitment; provided, however the Total Warehouse Line Commitment includes a Wet Advance Sublimit and a Jumbo Advance Sublimit.
More Definitions of Jumbo Advance Sublimit
Jumbo Advance Sublimit means an amount equal to twenty percent (20%) of the Total Warehouse Line Commitment; provided, however, that said sublimit shall be subject to the following further limitations: (i) Advances requested to fund Jumbo Loans with an original principal amount in excess of Seven Hundred Fifty Thousand Dollars ($750,000.00) shall be limited to twenty-four percent (24%) of the Jumbo Advance Sublimit; and (ii) Advances requested to fund Jumbo Loans that are also Wet Loans or Extended Wet Loans shall be limited to thirty percent (30%) of the Jumbo Advance Sublimit.