A&D Completed Lots. A&D Completed Lots in each Approved Subdivision may be included in the Borrowing Base as Eligible Collateral for a period of not more than eighteen (18) Calendar Months after the first applicable Lot Eligibility Date for such A&D Completed Lots, subject to the Maximum Allowed Advance limitations for the aggregate amount of the Commitment Amount applicable to the A&D Completed Lots for such Approved Subdivision.
Appears in 1 contract
Sources: Borrowing Base Revolving Line of Credit Agreement (William Lyon Homes)
A&D Completed Lots. A&D Completed Lots in each Approved Subdivision may be included in the Borrowing Base as Eligible Collateral for a period of not more than eighteen twenty-four (1824) Calendar Months after the first applicable Lot Eligibility Date for such A&D Completed Lots, subject to the Maximum Allowed Advance limitations for the aggregate amount of the Commitment Amount applicable to the A&D Completed Lots for such Approved Subdivision.
Appears in 1 contract
Sources: Borrowing Base Revolving Line of Credit Agreement (William Lyon Homes)