COMMITMENT TO PURCHASE LOANS Sample Clauses

COMMITMENT TO PURCHASE LOANS. The procedure pursuant to which Seller may commit to sell a Loan to Plaza is prescribed in the Guide. Seller will only deliver loans on Best Efforts (see definition below) pricing and delivery programs. For purposes of this Agreement, Plaza and Seller define a best effort commitment to be a mandatory commitment if the Loan closes. Plaza will confirm the conditions of the sale of the Loan to Plaza by delivering a lock confirmation (the “Lock Confirmation”) to the Seller which sets forth the terms of the transaction and the price Plaza will pay for each Loan, as determined pursuant to the pricing standards set forth in the Guide (the “Purchase Price”). The terms of the commitment, including the Purchase Price, shall be in effect for the period of time requested by Seller and approved by Plaza (the “Commitment Period”).
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
COMMITMENT TO PURCHASE LOANS. The procedure pursuant to which Seller may commit to sell a Loan to Countrywide is detailed in the Loan Registration section of the Manual. For purposes of this Agreement, Countrywide and Seller define a best effort commitment to be a mandatory commitment if the Loan closes. Countrywide will confirm the conditions of the sale of the Loan to Countrywide by delivering a confirmation (“Commitment”) to Seller which sets forth the terms of the transaction, including the price Countrywide will pay for each Loan, as determined pursuant to the Pricing standards set forth in the Manual (the “Purchase Price”). The terms of the Commitment, including the Purchase Price, shall be in effect for the period of time requested by Seller and approved by Countrywide (the “Commitment Period”). If Seller is approved by Countrywide to sell Loans to Countrywide on a bulk sale basis, Countrywide and Seller shall execute the Addendum to Loan Purchase Agreement (Bulk Sales) which shall be attached to and incorporated into this Agreement by reference.
Sample 1Sample 2Sample 3See All (5)
COMMITMENT TO PURCHASE LOANS. The following is hereby added at the end of the first sentence of Section 2: “except that for the purposes of Subprime Loans, the procedure pursuant to which Seller may commit to sell a Subprime Loan to Countrywide is detailed in the Subprime section of the Guide.”
Sample 1Sample 2Sample 3See All (5)
COMMITMENT TO PURCHASE LOANS. The procedure pursuant to which Seller may commit to sell a Loan to PHM is prescribed in the Guide. As determined by PHM in its sole and absolute discretion, Seller may be approved to participate in Best Efforts-Mandatory pricing and delivery programs. For purposes of this Agreement, PHM and Seller define a best effort commitment to be a mandatory commitment if the Loan closes. PHM will confirm the conditions of the sale of the Loan to PHM by delivering a confirmation (”Commitment”) to Seller which sets forth the terms of the transaction, including the price PHM will pay for each Loan, as determined pursuant to the pricing standards set forth in the Guide (the “Purchase Price”). The terms of the Commitment, including the Purchase Price, shall be in effect for the period of time requested by Seller and approved by PHM (the “Commitment Period”).
Sample 1
COMMITMENT TO PURCHASE LOANS. The procedure pursuant to which Seller may commit to sell a Loan to CMG shall be as set forth by CMG. Once requested to purchase a Loan, CMG will confirm the conditions of the sale of the Loan to CMG by delivering a confirmation (“Commitment”) to Seller which sets forth the terms of the transaction, including the price CMG will pay for each Loan (the “Purchase Price”), upon Seller’s fulfillment of its obligations under the Commitment and this Agreement. The terms of the Commitment, including the Purchase Price, shall be in effect for the period of time requested by Seller and approved by CMG (the “Commitment Period”). Any commitment issued by CMG is voidable by CMG if CMG believes that Seller has breached any material term or condition of the Agreement as to any Mortgage Loan offered by Seller for purchase, or as to any Mortgage Loan actually purchased by CMG from Seller in the past.
Sample 1

Related to COMMITMENT TO PURCHASE LOANS

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • Agreement to Make Swingline Loans Subject to the terms and conditions set forth herein, each Swingline Lender severally agrees to make Swingline Loans under each Commitment to the Borrower from time to time during the Availability Period in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans of both Classes exceeding $50,000,000 or the aggregate principal amount of outstanding Swingline Loans of any Swingline Lender exceeding $25,000,000, (ii) the sum of any Swingline Lender’s outstanding Multicurrency Loans, its LC Exposure, its outstanding Swingline Loans and (without duplication) its other Swingline Exposure exceeding its Multicurrency Commitment; (iii) the total Revolving Dollar Credit Exposures exceeding the aggregate Dollar Commitments at such time, (iv) the total Revolving Multicurrency Credit Exposures exceeding the aggregate Multicurrency Commitments at such time or (v) the total Covered Debt Amount exceeding the Borrowing Base then in effect; provided that no Swingline Lender shall be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans.

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

  • Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.

  • Revolving Loan Prepayments (i) In the event of the termination of all the Revolving Commitments, Borrower shall, on the date of such termination, repay or prepay all its outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i).

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Ratable Loans Each Advance hereunder shall consist of Loans made from the several Lenders ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment.

  • Repayment of Revolver Loans Revolver Loans shall be due and payable in full on the Revolver Termination Date, unless payment is sooner required hereunder. Revolver Loans may be prepaid from time to time, without penalty or premium. If any Asset Disposition includes the disposition of Accounts or Inventory, then Net Proceeds equal to the greater of (a) the net book value of such Accounts and Inventory, or (b) the reduction in the Borrowing Base upon giving effect to such disposition, shall be applied to the Revolver Loans. Notwithstanding anything herein to the contrary, if an Overadvance exists, Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any Borrower has knowledge thereof, repay the outstanding Revolver Loans in an amount sufficient to reduce the principal balance of Revolver Loans to the Borrowing Base.

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

  • Loan Commitment Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $16,000,000 in the aggregate (the "Loan") consisting of $8,000,000 of 7-year Tranche advances and $8,000,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the "Loan Commitment."

Time is Money Join Law Insider Premium to draft better contracts faster.