Warehouse Borrowing Base definition

Warehouse Borrowing Base means at any date all Eligible Mortgage Loans in which the Administrative Agent holds for the benefit of the Lenders a first priority perfected security interest at such date.
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Warehouse Borrowing Base means, for any date, that portion of the Borrowing Base on such date attributable to Eligible Collateral other than Eligible Mortgage Servicing Rights and Eligible Servicing Sale Receivables.
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Warehouse Borrowing Base means that amount which is determined according to the formula set forth in EXHIBIT A to this Credit Agreement and made a part hereof by this reference.
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Examples of Warehouse Borrowing Base in a sentence

  • Fail to hold Take-Out Commitments and/or Hedging Arrangements in an aggregate amount necessary to provide for the aggregate Unit Collateral Value of all Mortgage Loans included in the Warehouse Borrowing Base.

  • Direct the Custodian to ship Mortgage Loans included in the Warehouse Borrowing Base only to Approved Investors.

  • The sum of the Aggregate Outstanding Warehouse Balance plus the Aggregate Outstanding Excess Balance shall not exceed the Warehouse Borrowing Base.

  • Direct the Collateral Agent to deliver Mortgage Loans included in the Warehouse Borrowing Base only to Approved Investors or otherwise consistent with the provisions of the Loan Documents.

  • The Borrower hereby expressly acknowledges that, in connection with Lender's procurement of financing from one or more financial institutions, Lender may assign, pledge or grant a security interest to such financial institutions in the Loans, the Note and all Collateral securing the Borrower's Obligations hereunder, including but not limited to the Mortgage Loans constituting the Warehouse Borrowing Base (a "Collateral Assignment").

  • Borrowing Bases - Collectively the Warehouse Borrowing Base and Working Capital Borrowing Base.

  • Although the Company and Borrowing Subsidiaries shall continue to deliver Mortgage Loan files and other information and documents to the Collateral Agent (in a custodial capacity) as set forth in the Security Agreement even while the security interest is abated, so long as the security interest is abated the Company shall perform all of the obligations of the Collateral Agent as set forth in the Security Agreement with respect to determining the Aggregate Borrowing Base and the Warehouse Borrowing Base.

  • Direct the Collateral Agent to ship Mortgage Loans and Mortgage-Backed Securities included in the Warehouse Borrowing Base or the Gestation Loans Borrowing Base only to Approved Investors or otherwise consistent with the provisions of the Loan Documents.

  • The Borrowers shall further cause the sum of the aggregate Unit Collateral Values of all Mortgage-Backed Securities included in the Warehouse Borrowing Base to be not less than the sum of the aggregate outstanding amount of the Loans advanced for the account of AHMIC.

  • The Warehouse Borrowing Base shall be equal to: (A) 80% of the outstanding principal balance of Eligible Contracts whose credit score is rated "A" or "B", and (B) 70% of the outstanding principal balance of Eligible Contracts whose credit score is rated "C"; provided, further, that no more than 15% of the total Borrowing Base may be comprised of "C" rated Eligible Contracts.


More Definitions of Warehouse Borrowing Base

Warehouse Borrowing Base means at any date all Eligible Committed Conforming Mortgage Loans, and Exception Mortgage Loans which have been designated by the Borrower and accepted by Lender for inclusion in the computation of the Collateral Value of the Warehouse Borrowing Base, and (a) the Required Documents for which have been delivered to Lender (or any custodian appointed by Lender) or (b) to the extent the Borrower is permitted to utilize Collateral Confirmation Agreements in connection with the delivery of Eligible Mortgage Loans to Lender or its custodian, which Mortgage Loans have been so designated on a duly executed Collateral Confirmation Agreement, and in each case constitute collateral security for the Obligations.
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Warehouse Borrowing Base means, at any date, all REO Property, Eligible Mortgage Loans and Eligible Mortgage-Backed Securities in which the Administrative Agent or the Collateral Agent holds for the benefit of the Lenders a first priority perfected security interest at such date.
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Related to Warehouse Borrowing Base

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Amount means:

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.