Warehousing Borrowing Base as of a date of determination, an -------------------------- amount equal to 100% of the Warehousing Collateral Value of the Warehousing Collateral, as determined by the Agent from its records.
Warehousing Borrowing Base or "Warehousing Collateral Value," or amending Section 2.01 or this Section 8.05 may only be made by an instrument or instruments in writing signed by all of the Banks and the Company. In addition to the foregoing requirements, (A) no amendment, waiver or consent shall, unless in writing and signed by the Agent in addition to the requisite Banks indicated above to take such action, affect the rights or duties of the Agent under this Agreement or any Loan Document, and (B) no amendment may increase any Bank's Warehousing Commitment unless it is in writing and signed by such Bank. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by the Company therefrom shall in any event be effective unless the same shall be in writing and signed or consented to in writing by the requisite Banks indicated above and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.
Warehousing Borrowing Base or "Warehousing Collateral Value," or amending Section 2.01, this Section 8.05 or any other provision hereof specifically requiring the consent or approval of all of the Lenders for any modification or waiver, as applicable, may only be made by an instrument or instruments in writing signed by all of the Lenders and the Company. Any amendment, waiver or consent amending the definition of "Working Capital Collateral Value," amending Section 2.02 or affecting the Working Capital Security Agreement shall only be made by an instrument in writing signed by all of the Lenders that have Working Capital Loans or Working Capital Commitments outstanding. In addition to the foregoing requirements, (A) no amendment, waiver or consent shall, unless in writing and signed by the Agent in addition to the requisite Lenders indicated above to take such action, affect the rights or duties of the Agent under this Agreement or any Loan Document, and (B) no amendment may increase any Lender's Commitment or Commitments unless it is in writing and signed by such Lender. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by the Company therefrom shall in any event be effective unless the same shall be in writing and signed or consented to in writing by the requisite Lenders indicated above and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.
Examples of Warehousing Borrowing Base in a sentence
If, at any time, the aggregate --------------------- principal amount of all Warehousing Loans and Swingline Loans outstanding exceeds the Warehousing Borrowing Base, the Company shall immediately make principal prepayments of the Warehousing Notes in an aggregate amount equal to the amount of such excess, which amount shall be paid to the Agent and distributed to the Banks ratably on the basis of each Bank's Pro Rata Share of outstanding principal balances of the Warehousing Notes.
All Pledged Mortgage Loans which are so transmitted or otherwise delivered but not paid for shall constitute Collateral and shall, subject to the limits contained herein, be included in determining the Warehousing Borrowing Base.
More Definitions of Warehousing Borrowing Base
Warehousing Borrowing Base as of any Warehousing Advance Date or any other date of determination, an amount equal to 100% of the Warehousing Collateral Value of the Warehousing Collateral as determined by the Collateral and Managing Agent from its records.