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.
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Examples of Warehouse Borrowing Base in a sentence

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

  • 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 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.

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

  • Each of the Banks and the Agent hereby agrees to waive its default rights with respect to the Company having borrowings under the Warehouse Line in excess of Warehouse Borrowing Base as a result of the Collateral Value of outstanding Alternative Lending Advances exceeding the Alternative Lending Advance Sublimit during the period beginning December 13, 2003 and ending at the close of business on December 16, 2003.

  • Fail to hold Take-Out Commitments in an aggregate amount necessary to provide for the sale of all Mortgage Loans included in the Warehouse Borrowing Base and the Gestation Loans Borrowing Base other than Eligible Uncommitted Mortgage Loans.

  • The marital status difference between purchasers and non-purchasers of organic products was significant at the 1 per cent level of significance.

  • Subject to the right of the Administrative Agent to waive certain requirements for eligibility as expressly set forth in the Credit Agreement (any such waiver to be evidenced by facsimile notice to such effect delivered by the Administrative Agent to the Borrowers and the Collateral Agent), the Mortgage-Related Collateral on the Exception Report shall not be included in the Warehouse Borrowing Base until such Mortgage-Related Collateral has been removed from the Exception Report.

  • 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.

  • If, at any time, and for any reason, including without limitation a reduction in the Collateral Value or any part thereof by virtue of a "mark to market" valuation, the outstanding warehouse balaxxxx owed to the Bank exceeds the Borrowing Base, as determined by the Bank, then the Company shall immediately pay to the Bank, an amount equal to the amount by which the sum of the outstanding balances owed to the Bank exceeds the Warehouse Borrowing Base.


More Definitions of Warehouse Borrowing Base

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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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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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 Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • 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 a collective reference to all Borrowing Base Assets in existence at any given time.

  • 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 as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

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

  • Borrowing Base Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds 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 any one of the Borrowing Base Properties.

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

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.