Residual debt definition
Residual debt means an amount due on a loan, evidence of which exists in a real estate loan agreement, note, bond, contract or similar written agreement, that a borrower is unable to pay out of the proceeds from a sale of the residential property that secures the loan.
Residual debt means the sum of (i) the outstanding principal balances of any Warehouse Facility for which Residual Interests have been conveyed to Borrower, (ii) the outstanding principal balances of any other facility contemplated under Section 2.15(d) for which Residual Interests have been conveyed to Borrower, and (iii) the Outstanding Revolving Loan Amount.
Residual debt the amount of any indebtedness of the Company or any Subsidiary owing to the Existing Lender or any Other Existing Lender and incurred in connection with the financing of any Residual.
More Definitions of Residual debt
Residual debt means an amount due on a loan, evidence of which exists in a real
Residual debt. “Residual Interest”, and “Term Loan Commitment Termination Date” set forth in Section 1.01 of the Loan and Servicing Agreement are hereby amended and restated as follows: