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.

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.

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 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.
The sum of the Aggregate Outstanding Warehouse Balance plus the Aggregate Outstanding Excess Balance shall not exceed the Warehouse Borrowing Base.
A borrowing request setting forth the requested date of the Advance, the requested advance amount, whether the Advance will be a Revolving Credit Loan or a Working Capital Loan, a Borrowing Base Certificate with respect to the Warehouse Borrowing Base in the form attached hereto as Exhibit "2.1(f)" setting forth the availability under the Warehouse Borrowing Base, any information required by this Agreement and such other information as Agent shall reasonably request.
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.
Those contracts, and any such contracts entered into by the Tenant or the Issuer after delivery of this Project Lease, are hereinafter referred to as the "Project Contracts." Prior to the delivery hereof, certain work has been or may have been performed on the Improvements pursuant to the Project Contracts or otherwise.
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.
The Company has informed the Agent and the Banks that during the period from December 13, 2003 to and until the close of business on December 16, 2003, the Company's outstanding borrowings under the Warehouse Line exceeded the Warehouse Borrowing Base as a result of the Collateral Value of outstanding Alternative Lending Advances exceeding the Alternative Lending Advance Sublimit specified in the Existing Credit Agreement.
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.

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.

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.