Qualifying Balances definition
Qualifying Balances means, as at any date, the sum of
Qualifying Balances means, as at any date, the aggregate amount of cash on hand of the Borrower and its Subsidiaries on such date that is free and clear of Liens (other than Liens in favor of the Secured Parties); provided that (a) Qualifying Balances shall in no event at any time exceed $100,000,000 in the aggregate for purposes of this definition and (b) the Qualifying Balances shall be deemed to be zero for any day on which (i) an Event of Default shall have occurred and be continuing or (ii) the total Revolving Exposure has been in excess of $10,000,000 for more than ten consecutive days.
Qualifying Balances means, with respect to any Buyer, for any day, the lesser of (a) the amount of such Buyer’s outstanding Purchase Price on Open Transactions on such day, and (b) the sum of the collected balances in all identified non-interest bearing accounts of the Seller maintained with such Buyer less (i) amounts necessary to satisfy reserve and deposit requirements and (ii) amounts required to compensate such Buyer for services rendered in accordance with such Buyer’s system of charges for services to similar accounts.
Examples of Qualifying Balances in a sentence
A Balance Funded Rate may only be selected where a Buyer is holding Qualifying Balances and shall only be applicable to such Buyer.
A Balance Funded Rate may only be selected where the Buyer is holding sufficient Qualifying Balances.
The provisions of Sections 5.2 through 5.5 shall not apply if a particular Buyer and the Seller agree otherwise by separate agreement with respect to adjustments to such Buyer’s Price Differential based on Qualifying Balances.
A Balance Funded Rate may only be selected where a Buyer is holding sufficient Qualifying Balances and shall only be applicable to such Buyer.
Seller may, from time to time, agree by separate agreement to adjustments to such Buyer’s Price Differential based on Qualifying Balances (“Price Differential Adjustment Agreement”), provided, however, that no such adjustments shall result in a Buyer receiving more than it would have been entitled to receive with respect to any Transaction under the terms of this Agreement.
More Definitions of Qualifying Balances
Qualifying Balances means, as at any date, the aggregate amount of cash on hand of the Borrower and its Subsidiaries on such date that is free and clear of Liens (other than Liens in favor of the Secured Parties); provided that (a) Qualifying Balances shall in no event at any time exceed $500,000,000 in the aggregate for purposes of this definition and (b) the Qualifying Balances shall be deemed to be zero for any day on which an Event of Default shall have occurred and be continuing.
Qualifying Balances means, with respect to any Lender, for any day the lesser of (x) the amount of such Lender's Loans on such day, and (y) the sum of the collected balances in all identified non-interest bearing accounts of Borrower maintained with such Lender less (i) amounts necessary to satisfy reserve and deposit insurance requirements and (ii) amounts required to compensate such Lender for services rendered in accordance with such Lender's system of charges for services to similar accounts.
Qualifying Balances means, as at any date, the aggregate amount of unrestricted cash and unrestricted Cash Equivalents on hand of New Holdings and its Restricted Subsidiaries on such date (in each case, (i) free and clear of all Liens, other than Liens granted under the Loan Documents, and (ii) excluding Cash Collateral and other amounts held in accounts that hold cash for payment of any specified payable) only to the extent such cash or Cash Equivalents, as applicable, is included in the consolidated balance sheet of New Holdings and its Restricted Subsidiaries as of such date, which aggregate amount of unrestricted cash and Cash Equivalents shall be determined without giving pro forma effect to the proceeds of Indebtedness incurred or proposed to be incurred on such date; provided that, notwithstanding the foregoing, for purposes of this definition (i) Qualifying Balances shall not at any time exceed $100,000,000, (ii) Qualifying Balances shall be deemed to be zero for any day on which an Event of Default shall have occurred and be continuing and (iii) Qualifying Balances shall not include any Specified Equity Contributions or proceeds thereof.
Qualifying Balances means, with respect to any Bank, those free collected balances maintained in non-interest bearing accounts (whether or not such accounts are trust accounts) in the Borrower's name with such Bank or with a financial institution designated by such Bank and acceptable to the Borrower (after deducting for purposes of calculating such balances FDIC insurance premiums, float and balances required by such Bank under its normal practices to compensate such Bank for the maintenance of such accounts and taking into consideration any reserve requirements applicable to such accounts).
Qualifying Balances means, with respect to any Buyer, for any day, the lesser of (a) the amount of such Buyer’s outstanding Purchase Price on Open Transactions on such day, and (b) the sum of the collected balances in all identified non-interest bearing accounts of the Seller and/or any of its Affiliates on behalf of the Seller maintained with such Buyer less (i) amounts necessary to satisfy reserve and deposit requirements and (ii) amounts required to compensate such Buyer for services rendered in accordance with such Buyer’s system of charges for services to similar accounts. “Recourse Servicing” means Servicing Rights under a Servicing Agreement with respect to which the Servicer is obligated to repurchase or indemnify the holder of the related Mortgage Loans in respect of defaults on such Mortgage Loans at any time during the term of such Mortgage Loans. “Register” is defined in Section 22.17(d). “Regular Transaction” means a Transaction funded by all Buyers, rather than by Comerica Bank under the Swing Line. “Regulation T” means Regulation T promulgated by the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 220, or any other regulation when promulgated to replace the prior Regulation T and having substantially the same function. “Regulation U” means Regulation U promulgated by the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 221, or any other regulation when promulgated to replace the prior Regulation U and having substantially the same function. “Regulation X” means Regulation X promulgated by the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 224, or any other regulation when promulgated to replace the prior Regulation X and having substantially the same function. “REO” means real property improved by a one-through four-family residence owned following judicial or nonjudicial foreclosure (or conveyance by deed in lieu of foreclosure) of a Mortgage securing a Single-family Loan. “Repurchase Date” means the date on which the Seller is to repurchase Purchased Loans from the Buyers, being the earlier of (a) the date when the Approved Investor is to purchase such Purchased Loans and (b) any date determined by application of the provisions of Section 3.3 or 18. “Repurchase Documents” means and includes this Agreement, the Custody Agreement, any Subordination Agreement(s), any financing statements or other papers now or hereafter authorized, executed or issued pursuant to this Agreement, the Approved Investor Agreements, ...
Qualifying Balances means, with respect to the Lender, those free collected balances maintained in non-interest bearing accounts (other than the Funding Account) in the Borrower's name with the Lender (after deducting for purposes of calculating such balances FDIC insurance premiums, float and balances required by the Lender under its normal practices to compensate the Lender for the maintenance of such accounts and taking into consideration any reserve requirements applicable to such accounts), and which are not employed by the Borrower to effect an interest rate reduction, accommodation or other "buy-down" arrangement under any loan or credit facility other than this Agreement.
Qualifying Balances at the time of any determination, interest-free collected deposit balances (in addition to those which the Bank determines to be necessary to support FDIC insurance assessments and other banking services provided to the Company and in addition to those deposited pursuant to Section 5(b)) deposited by the Company with the Bank.