Wet Settlement Advance definition

Wet Settlement Advance means with respect to any Warehousing Advance, the time from the date the Warehousing Advance is made until the date of Lender's receipt of the Collateral Documents required by Article 2 and the Exhibits and documents referenced in that Article.

Wet Settlement Advance means an Advance pursuant to Section 2.2(b) of this Agreement, in respect of the closing or settlement of a Mortgage Loan, based upon delivery to the Lender of the Bailee Pledge Agreement, pending subsequent delivery of the Collateral Documents as provided in such Section.

Wet Settlement Advance means an Advance pursuant to Section 2.2(b) of this Agreement in respect of the closing or settlement of a Mortgage Loan, from the time of such Advance until the time of subsequent delivery of the Collateral Documents as provided in such Section and the Exhibit referenced therein.

Examples of Wet Settlement Advance in a sentence

• 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.

• 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.

• 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.

• Collateral Documents not required for a Wet Settlement Advance must be delivered by Borrower to Collateral Agent within 9 calendar days after the date of the Wet Settlement Advance.

More Definitions of Wet Settlement Advance

Wet Settlement Advance means with respect to any Advance, the time from the date the Advance is made until the date of the Lender's receipt of the Collateral Documents as provided in Section 2.2(b) and the Exhibit referenced therein.

Wet Settlement Advance means an Advance prior to the end of the Wet Settlement Period.

Wet Settlement Advance means an Advance by the Secured Party pursuant to Section 2.2(a) of the Warehouse Credit Agreement, in respect of the closing or settlement of a Single-family Mortgage Loan, in anticipation of and pending subsequent delivery and examination of the Collateral Documents as provided in Section II of Exhibit "C" to the Warehouse Credit Agreement.

Wet Settlement Advance means a Warehousing Advance prior to the end of the Wet Settlement Period. "Wet Settlement Period" means the period of time from the date a Wet Settlement Advance is made against a Pledged Loan until the earlier of (a) the date the Collateral Documents for the Pledged Loan have been delivered to and examined by the Lender or (b) the date the Wet Settlement Advance made against the Pledged Loan is paid in full. "Wire Disbursement Account" means a demand deposit account maintained at the Funding Bank in Lender's name for clearing wire transfers requested by Borrower to fund Warehousing Advances. "Wire Fee" has the meaning set forth in Section 3.6.

Wet Settlement Advance means an Advance pursuant to Section 2.3(b) of this Agreement, in respect of the closing or

Wet Settlement Advance shall no longer apply to the Advance once the Lender has received all of the Collateral Documents as provided in Section 2.2 (b) and the applicable Exhibit referenced therein.

Wet Settlement Advance means a Warehousing Advance prior to the end of the Wet Settlement Period. "Wet Settlement Period" means the period of time from the date a Wet Settlement Advance is made against a Pledged Loan until the earlier of (a) the date the Collateral Documents for the Pledged Loan have been delivered to and examined by the Lender or (b) the date the Wet Settlement Advance made against the Pledged Loan is paid in full.