Wet Settlement definition

Wet Settlement means a closing or settlement of a Residential Mortgage Loan wherein the Banks are requested to make an advance to the Company based upon delivery of the Collateral Documents to a third person as agent for or on behalf of the Banks, but prior to examination of the Collateral Documents by the Banks.
Sample 1
Wet Settlement means the funding of an Advance for an Underlying Loan that is a Single-Family Mortgage Loan based upon Borrower's submission to PNC of a Funding Application by facsimile transmission and Borrower's subsequent delivery to PNC of those items set forth in Section 3B[2] of this Agreement.
Sample 1

Examples of Wet Settlement in a sentence

  • If a Wet Settlement Advance is being requested, the Request for Advance and required Collateral Documents should be submitted in accordance with the above instructions.

  • Unless the related Advance is no longer outstanding, the Company shall require the remaining Collateral Documents, as set forth in the aforementioned Exhibit D, to be furnished to the Bank within three (3) Business Days after the date of the Wet Settlement.

  • In case of Collateral financed through a Wet Settlement Advance, the Company shall cause all Collateral Documents to be delivered to the Lender or its designee within three (3) calendar days after the date of the Wet Settlement Advance relating thereto.

  • In case of Collateral financed through a Wet Settlement Advance, the Company shall cause all Collateral Documents to be delivered to the Lender or its designee within seven (7) Business Days after the date of the Wet Settlement Advance relating thereto.

  • Requests for Advances shall be initiated by the Company by delivering to the Lender, no later than (i) in the case of a request for a Wet Settlement Advance, 10:30 a.m. (Pacific time) on the Business Day the Company desires to borrow hereunder, and (ii) in the case of any other Advance, one (1) Business Day prior to any Business Day that the Company desires to borrow hereunder, a completed and signed request for an Advance on the then current form approved by the Lender.

  • Seven (7) Business Days elapse from the date a Wet Settlement Advance was made against a Pledged Loan without receipt by Lender of all Collateral Documents relating to the Pledged Loan.

  • This Amendment has been duly executed and delivered on behalf of the Borrower.

  • Whenever Borrower desires Wet Settlement Funding of a Single-Family Mortgage Loan, Borrower shall deliver a copy by facsimile transmission or the original by expedited delivery to arrive on the date for which such funding is requested, of the Funding Application in the form of Exhibit C-2 relative to such Underlying Loan.

  • In the case of a Mortgage Loan financed through a Wet Settlement Advance, the Company shall cause all Collateral Documents required to be delivered to the Collateral Agent within 7 Business Days after the date of the Wet Settlement Advance relating thereto.

  • Collateral Documents not required for a Wet Settlement Advance must be delivered by Borrower to Credit Agent within 7 Business Days after the date of the Wet Settlement Advance.

Related to Wet Settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Net Settlement Fund means the Settlement Fund less: (i) Court-awarded attorneys’ fees and expenses; (ii) Notice and Administration Expenses; (iii) Taxes; and (iv) any other fees or expenses approved by the Court.

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Operating Agreement, section 3.3. “PJM Tariff,” “Tariff,” “O.A.T.T.,” “OATT,” or “PJM Open Access Transmission Tariff” shall mean that certain PJM Open Access Transmission Tariff, including any schedules, appendices or exhibits attached thereto, on file with FERC and as amended from time to time thereafter.

  • TARGET Settlement Day means any day on which TARGET2 is open for the settlement of payments in euro;

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • First Settlement Date means the date set forth in footnote 3 under "Summary of Essential Financial Information" in the Prospectus Part I for a Trust.

  • Relevant Settlement Method In respect of any Option:

  • Purchase Contract Settlement Date means _____________.

  • Purchase Contract Settlement Fund has the meaning specified in Section 5.5.

  • Default Settlement Method means Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes; provided, however, that the Company may, from time to time, change the Default Settlement Method by sending notice of the new Default Settlement Method to the Holders, the Trustee and the Conversion Agent.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • Resettlement means the impact of an involuntary taking of land under the Project, which taking causes affected persons to have their: (i) standard of living adversely affected; or (ii) right, title or interest in any house, land (including premises, agricultural and grazing land) or any other fixed or movable asset acquired or possessed, temporarily or permanently; or (iii) access to productive assets adversely affected, temporarily or permanently; or (iv) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently.

  • Retail Settlement Code means the code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and customers and provides for tracking and facilitating customer transfers among competitive retailers;

  • Day-ahead Settlement Interval means the interval used by settlements, which shall be every one clock hour.

  • Energy Settlement Area means the bus or distribution of busses that represents the physical location of Network Load and by which the obligations of the Network Customer to PJM are settled.

  • TARGET2 Settlement Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.

  • Call Settlement Date means the fifth Business Day following the last Index Business Day in the Call Measurement Period.

  • ASTC Settlement Rules means the operating rules of ASTC and, to the extent that they are applicable, the operating rules of ASX and the operating rules of the Australian Clearing House Pty Limited;

  • Net Share Settlement On each Settlement Date, Issuer shall deliver to Dealer a number of Shares equal to the Number of Shares to be Delivered for such Settlement Date to the account specified by Dealer and pay cash to Dealer in lieu of any fractional shares valued at the Relevant Price on the Valuation Date corresponding to such Settlement Date. Number of Shares to be Delivered: In respect of any Exercise Date, subject to the last sentence of Section 9.5 of the Equity Definitions, the product of (i) the number of Warrants exercised or deemed exercised on such Exercise Date, (ii) the Warrant Entitlement and (iii)(A) the excess, if any, of the VWAP Price on the Valuation Date occurring on such Exercise Date over the Strike Price, divided by (B) such VWAP Price. The Number of Shares to be Delivered shall be delivered by Issuer to Dealer no later than 4:00 P.M. (local time in New York City) on the relevant Settlement Date.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Remarketing Settlement Date means the date of the settlement of any Successful Remarketing, which will be three Business Days after such Remarketing.

  • Standard Settlement Period means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

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