Underlying Loans definition

Underlying Loans as defined in the Line of Credit Agreement and the reimbursement obligations owed to Debtor in connection with the issuance of Letters of Credit (as defined in the Line of Credit Agreement) pursuant to the Line of Credit Agreement.

Underlying Loans means (i) all of the loans, credits, lines of credit and other credit facilities owned and held by the Borrower or a Pledgor and more particularly described on Schedule I attached hereto and made a part hereof and (ii) all loans, credits, lines of credit and other credit facilities now or hereafter owned and held by the Borrower or a Pledgor and hereafter pledged to the Bank (whether in substitution for or in addition to any then existing Underlying Loans) as security for the Obligations.

Underlying Loans means, individually or collectively, as the context may require, the underlying first priority commercial mortgage loans sold by the Mortgage Loan Seller to Borrower.

Examples of Underlying Loans in a sentence

• Any reserve or other cash collateral or letters of credit securing the Crossed Underlying Loans shall be allocated between such Crossed Underlying Loans in accordance with the Mortgage Loan documents, or otherwise on a pro rata basis based upon their outstanding Stated Principal Balances.

• In the event that the remaining Crossed Underlying Loans satisfy the aforementioned criteria, the Seller may elect either to repurchase or substitute for only the affected Crossed Underlying Loan as to which the related Material Defect exists or to repurchase or substitute for all of the Crossed Underlying Loans in the related Crossed Mortgage Loan Group.

• In the event that the remaining Crossed Underlying Loans satisfy the aforementioned criteria, the Seller may elect either to repurchase or substitute for only the affected Crossed Underlying Loan as to which the related Breach or Defect exists or to repurchase or substitute for all of the Crossed Underlying Loans in the related Crossed Mortgage Loan Group.

• Any reserve or other cash collateral or letters of credit securing the Crossed Underlying Loans shall be allocated between such Crossed Underlying Loans in accordance with the related Mortgage Loan documents, or otherwise on a pro rata basis based upon their outstanding Stated Principal Balances.

• Any reserve or other cash collateral or letters of credit securing the Crossed Underlying Loans shall be allocated among the related Crossed Underlying Loans in accordance with the related Mortgage Loan documents or otherwise on a pro rata basis based upon their outstanding Stated Principal Balances.

More Definitions of Underlying Loans

Underlying Loans means all loans, credits, lines of credit and other credit facilities now or hereafter owned and held by the Borrower or the Guarantor which are listed or identified from time to time on the then most recent Facility A Borrowing Base Certificate and Facility B Borrowing Base Certificate delivered by the Borrower to the Bank.

Underlying Loans has the meaning set forth in Section 2.5.

Underlying Loans. Any Mortgage Loan or REO Loan, including any related Future Advance made with respect thereto, that (i) the Originator shall transfer, assign, set over and otherwise convey to the Depositor in accordance with the terms of the 1st Tier Loan Purchase Agreement and (ii) the Depositor shall transfer, assign, set over and otherwise convey to the Issuer in accordance with the terms of the 2nd Tier Loan Purchase Agreement.

Underlying Loans. [to be provided or omitted, as applicable]. Underlying Securities: [to be provided or omitted, as applicable]. Underlying Securities Balance: $[ ]. Underlying Servicing Fee Rate: [to be provided or omitted, as applicable].

Underlying Loans means an educational loan owed by an Eligible Borrower to be refinanced into this Loan. Underlying Loans are identified by the information provided on the application or information I provide to you during the application process and prior to disbursement of the Loan proceeds. The Lender will verify the existence of and current balance of all Underlying Loans prior to disbursement of the Loan proceeds to the then current servicer(s) of the Underlying Loan(s).

Underlying Loans set forth in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:

Underlying Loans means Government-Backed Mortgage Loans, Conforming Conventional Mortgage Loans, Jumbo Conventional Mortgage Loans and Repurchased Mortgage Loans for which advances under the Loan Agreement have been made by Secured Party. For this purpose: p.