Warehouse Line of Credit definition

Warehouse Line of Credit means a line of credit to fund loans held for sale to other persons.
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Warehouse Line of Credit means any warehouse lines of credit established consistent with past business practices and used by the Borrower and its Subsidiaries in the ordinary course of business to fund or support their mortgage lending business and any replacement lines established on substantially similar terms and conditions.
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Warehouse Line of Credit means a line of credit provided to any Mortgage Subsidiary for the purpose of financing Mortgage Receivables.
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Examples of Warehouse Line of Credit in a sentence

  • A copy of this authorization is deemed valid and can be used at any time to obtain a Warehouse Line of Credit Verification.

  • Completed By: Date: Name/Title: This Section to be completed by Warehouse Lender: WAREHOUSE LENDER IS REQUIRED TO PROVIDE WIRING INSTRUCTIONS The Mortgage Lender listed above has indicated that they have a Warehouse Line of Credit with your institution.

  • The institution will be utilizing depository funds for funding transactions and therefore does not have a Warehouse Lender* (* if applicable remainder of form does not need to be completed) Warehouse Institution Name: Attention: E-mail: Address: City: State: Zip: Phone Fax Warehouse Line Amount: $ Date Opened: Client Name: ABA#: Account #: Lender Authorization We authorize the release of the information regarding our Warehouse Line of Credit to Union Home Mortgage Corp.

  • Its approval by the Board will authorize the purchase of the student loan portfolio described above, the use of the RBC Warehouse Line of Credit, and the execution of the necessary documents and agreements.

  • Pursuant to its Warehouse Line of Credit with TierOne, on or about April 5, 2006, USMS sent two funding requests to TierOne requesting $747,500.00 to finance DePaola’s loan on the Seattle property and $812,500.00 to finance DePaola’s loan on the Mercer Island property.

  • Complete the Cost Proposal in the form of the Cost Proposal excel sheet and include separate fee schedules for Investors and Warehouse Line of Credit (Tri-Party Agreement).

  • In accordance with the Warehouse Line of Credit, TierOne approved both funding requests on April 5, 2006, and forwarded the funds.

  • USMS would then repay the advance that was made on the Warehouse Line of Credit, plus any applicable interest.

  • The Cost Proposal must be in the format of the Cost Proposal excel sheet and include separate fee schedules for Investors and Warehouse Line of Credit (Tri-Party Agreement) in excel, word or PDF documents.

  • In order to obtain funds to loan the buyer for the purchase, USMS would request advances from TierOne on the Warehouse Line of Credit.


More Definitions of Warehouse Line of Credit

Warehouse Line of Credit means the Credit Agreement and Mortgage Loan Purchase Sale Agreement, each dated as of July 5, 2001 between Preferred Home Mortgage Company and Guaranty Bank, as amended, supplemented or modified from time to time.
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Warehouse Line of Credit means collectively each existing warehouse line of credit as evidenced by the Senior Credit Agreement and the Senior Debt Documents.
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Warehouse Line of Credit means a line of credit provided to any Mortgage Subsidiary for the purpose of financing Mortgage Receivables. . All terms defined in this Agreement shall have the defined meanings when used in the Schedules and Exhibits hereto, and in the Notes, the Guaranties and the Pledge Agreement, and any certificates, reports or other documents made or delivered pursuant to this Agreement, unless the context otherwise requires. . Each accounting term not defined in this Agreement, and each accounting term partly defined in this Agreement to the extent not defined, shall have the meaning given to it under GAAP consistent with those principles utilized in preparing the audited financial statements of Hovnanian dated the Starting Date.
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Related to Warehouse Line of Credit

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Credit Line as defined in Section 2.1.

  • Warehouse Lender means any lender providing financing to Seller for the purpose of warehousing, originating or purchasing a Mortgage Loan, which lender has a security interest in such Mortgage Loan to be purchased by Purchaser.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Collateral has the meaning specified in Section 6.02(b).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Bank Credit Agreement means the Revolving Credit and Term Loan Agreement, dated as of January 26, 2015, by and among the Company and certain of its Subsidiaries, Bank of America, N.A., as administrative agent, and the other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Warehouse Facility means any bank credit agreement, repurchase agreement or other credit facility entered into to finance the making of Mortgage loans originated by the Company or any of its Subsidiaries.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Revolving Loan Agreement means that certain Revolving Credit and Security Agreement, dated as of the Closing Date, by and among Revolving Agent, the Credit Parties party thereto, the lenders from time to time party thereto, as amended, restated, supplemented and/or modified to the extent permitted by the terms of the Intercreditor Agreement. ​

  • Credit Line Agreement means the related credit line account agreement for a Mortgage Loan executed by the related mortgagor and any amendment or modification of it.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.