Warehousing Advance definition

Warehousing Advance means a disbursement by Lender under Section 1.1.

Warehousing Advance means a disbursement by Lender to fund the origination or acquisition of a Mortgage Loan.

Warehousing Advance means a disbursement by a Lender under its Warehousing Commitment.

Examples of Warehousing Advance in a sentence

• Lender will make the requested Warehousing Advance as soon as reasonably possible following the occurrence of such an event.

• Use the proceeds of each Warehousing Advance solely for the purpose of funding Eligible Loans and against the pledge of those Eligible Loans as Collateral.

• Subject to the delivery of a Warehousing Advance Request and the satisfaction of the conditions set forth in Sections 5.1 and 5.2, Borrower may obtain a Warehousing Advance under this Agreement upon compliance with the procedures set forth in this Section and in the applicable Exhibit B, including delivery to Lender of all required Collateral Documents.

• Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying Margin Stock, and no part of the proceeds of any Warehousing Advance made under this Agreement will be used to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin Stock.

• Lender has the right to pre-approve Borrower's choice of title insurance company, agent or attorney and Borrower's disbursement or instruction letter to them in any case in which Borrower intends to obtain a Warehousing Advance against the Mortgage Loan to be created at settlement or to pledge that Mortgage Loan as Collateral under this Agreement.

More Definitions of Warehousing Advance

Warehousing Advance means a disbursement by Lenders under Section 1.1.

Warehousing Advance means a disbursement by Credit Agent on behalf of Lenders under Section 1.1.

Warehousing Advance has the meaning set forth in Section 1.1.

Warehousing Advance means a disbursement by Administrative Agent or Lenders under Article 1.

Warehousing Advance means an Advance made against a Conforming Mortgage ------------------- Loan, a Jumbo Mortgage Loan or a Nonconforming Mortgage Loan that is subject to a Purchase Commitment in accordance with the terms of this Agreement.

Warehousing Advance means a disbursement by Lender under Section 1.1. "Warehousing Advance Request" has the meaning set forth in Section 2.1. "Warehousing Collateral Value" means, as of any date of determination, (a) with respect to any Eligible Loan, the lesser of (1) the amount of any Warehousing Advance made, or that could be made, against such Eligible Loan under Exhibit H or (2) an amount equal to the Advance Rate for the applicable type of Eligible Loan multiplied by the Fair Market Value of such Eligible Loan; (b) if Eligible Loans have been exchanged for Agency Securities, the lesser of (1) the amount of any Warehousing Advances outstanding against the Eligible Loans backing the Agency Securities or (2) an amount equal to the Advance Rates for the applicable types of Eligible Loans backing the Agency Securities multiplied by the Fair Market Value of the Agency Securities; and (c) with respect to cash, the amount of the cash. "Warehousing Commitment" means the obligation of Lender to make Warehousing Advances to Borrower under Section 1.1. "Warehousing Commitment Amount" means $650,000,000. "Warehousing Commitment Fee" has the meaning set forth in Section 3.5. "Warehousing Fee" has the meaning set forth in Section 3.6. "Warehousing Maturity Date" has the meaning set forth in Section 1.2. "Warehousing Note" has the meaning set forth in Section 1.3. "Weighted Average Committed Purchase Price" means the weighted average of the Committed Purchase Prices of the unfilled Purchase Commitments (expressed as a percentage) for Mortgage Loans or Mortgage-backed Securities of the same type, interest rate and term. "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.

Warehousing Advance a loan made by a Warehousing Lender to the Borrower pursuant to Section 2.02(a).