Master Commitment definition

Master Commitment means an agreement between an MPF Bank and its PFI pursuant to which the PFI agrees to originate Agency Loans for or sell Closed Loans to such MPF Bank, credit enhance and service such Loans thereafter, in accordance with the Guides.
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Master Commitment shall have the meaning set forth in Section 4(a).
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Master Commitment. A document (including any addenda or attachments thereto) executed by the PFI and the Bank in accordance with the Guides, which provides the terms under which the PFI will deliver mortgages to the Bank.
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Examples of Master Commitment in a sentence

  • Any Master Commitment amendment made by the MPF Bank will be made at the MPF Bank's sole discretion.Amendments may be requested to:• Change the size and term of the Master Commitment; or• Extend the expiration date of the Master Commitment.

  • A Master Commitment must be completed and signed by an authorized party of the PFI in accordance with the PFI Agreement, and must be signed as accepted by the MPF Bank.The signing of a Master Commitment does not require the PFI to originate or sell any mortgages under the agreement, but it does constitute the PFI’s best efforts commitment to deliver mortgages to the MPF Bank.

  • The maximum CE obligation is also stated in the Master Commitment.

  • A Master Commitment is considered closed when either of the following occurs:• The sum of open Delivery Commitments and the Mortgage Loans delivered under the Master Commitment equals or exceeds the Master Commitment amount; or• The Master Commitment term has expired.

  • A Master Commitment is an agreement between the PFI and the MPF Bank which defines the terms under which the MPF Bank will purchase a pool of Mortgage Loans delivered by the PFI.

  • The PFI may request that the MPF Bank amend an open Master Commitment at any time.

  • A Best Efforts Delivery Commitment must be opened under a Best Efforts Master Commitment.

  • Amendment requests are subject to the following conditions:• Requests for amendments must be accompanied by complete information and supporting data; and• No request for amendment may be made which would affect a Mortgage Loan or Delivery Commitment already assigned to a specific Master Commitment.

  • A Master Commitment is open for the issuance of a new Delivery Commitment as long as the sum of open Delivery Commitments and the Mortgage Loans already delivered under the Master Commitment is less than the Master Commitment amount.

  • The PFI will pay Realized Losses for a Master Commitment in excess of the balance of the FLA, up to the amount of the PFI's CE obligation.


More Definitions of Master Commitment

Master Commitment means a written master commitment or any other written commitment, on general terms and conditions approved by the Agent, from an Investor to purchase from the Borrower from time to time up to a specified dollar amount of Mortgage Loans without specification of the yield or purchase price of each such Mortgage Loan.
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Master Commitment. The Master Commitment dated as of November 1, 1996 between the Buyer and the MCA Companies hereto.
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Master Commitment. A Master Commitment of the Originator to sell Mortgages under this Contract, to be entered into by the Originator and the Bank in accordance with the Guides.
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Master Commitment. The Master Commitment for Corporate Finance Relationships dated as of December 16, 1996 among the Buyer and the Seller hereto.
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Related to Master Commitment

  • Revolver Commitment means, with respect to each Lender, its Revolver Commitment, and, with respect to all Lenders, their Revolver Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Revolver Commitments means the aggregate amount of such commitments of all Lenders.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • 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.

  • Group Commitment means with respect to any Purchaser Group the aggregate of the Commitments of each Purchaser within such Purchaser Group.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Revolving Lenders as the same may be decreased pursuant to Section 2.12(c) or increased pursuant to Section 2.19. As of the Closing Date, the amount of the Total Revolving Commitment is $100,000,000.

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Commitment means a Term Commitment or a Revolving Credit Commitment, as the context may require.

  • 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.

  • Total Commitment means, at any time, the sum of the Commitments of each of the Lenders at such time.

  • Unissued Letter of Credit Commitment means, with respect to any Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower in an amount equal to the excess of (a) the amount of its Letter of Credit Commitment over (b) the aggregate Available Amount of all Letters of Credit issued by such Issuing Bank.

  • Dollar Commitment means, with respect to each Dollar Lender, the commitment of such Dollar Lender to make Loans denominated in Dollars hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Dollar Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The amount of each Lender’s Dollar Commitment as of the Effective Date is set forth on Schedule 1.01(b), or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Dollar Commitment, as applicable. The aggregate amount of the Lenders’ Dollar Commitments as of the Effective Date is $125,000,000.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.

  • 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.

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Incremental Commitment shall have the meaning set forth in Section 2.23.

  • Existing Revolving Commitments has the meaning specified in Section 2.17(b).

  • Existing Commitment shall have the meaning provided in Section 2.17.

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).