ELIGIBLE LOANS AND TERMS OF WAREHOUSING ADVANCES Sample Clauses

ELIGIBLE LOANS AND TERMS OF WAREHOUSING ADVANCES. Subject to compliance with the terms and limitations set forth below, and the terms, representations and warranties and the covenants in the Agreement (including applicable Exhibits), each of the following Mortgage Loans is an Eligible Loan for purposes of the Agreement:
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ELIGIBLE LOANS AND TERMS OF WAREHOUSING ADVANCES. Subject to compliance with the terms and limitations set forth below, and the terms, representations and warranties and the covenants in the Agreement (including applicable Exhibits), each of the following Mortgage Loans is an Eligible Loan for purposes of the Agreement: Xxxxxx Xxx DUS Mortgage Loan Definition: A permanent Mortgage Loan on a Multifamily Property originated by Borrower under Xxxxxx Mae’s Delegated Underwriting and Servicing Guide. This definition shall include any permanent Mortgage Loan on a Multifamily Property originated by the Borrower pursuant to a Xxxxxx Xxx credit facility provided by Xxxxxx Mae, and in accordance with Xxxxxx Mae’s Delegated Underwriting and Servicing Guide. Provided however, that in connection with any aforementioned permanent Mortgage Loan on a Multifamily Property originated by the Borrower pursuant to a Xxxxxx Mae credit facility, in lieu of delivering a bailee letter in the form attached to the Credit Facility Agreement as Exhibit N-3, Borrower shall cause Xxxxxx Mae’s counsel to deliver to Lender a bailee letter based on Xxxxxx Mae’s then current form bailee letter, as revised to include the following provision: “Xxxxxx Xxx shall hold the Note and Additional Documents as bailee for the benefit of Lender until (i) Xxxxxx Mae delivers the Mortgage Backed Security (as defined below) by wire transfer in accordance with the delivery instructions specified on Form 2014, a copy of which is attached as Exhibit A hereto, or (ii) Xxxxxx Xxx returns to Lender, as set forth below, the Note and any Additional Documents delivered by Lender. Lender agrees that Lender’s security interest in the Note and Additional Documents shall terminate and be cancelled without further action upon delivery by Xxxxxx Mae of the Purchase Price. In the event that Xxxxxx Xxx does not issue the Mortgage Backed Security in exchange for the Note, Xxxxxx Mae will execute and deliver to Lender one or more assignments, in recordable form, of the Security Instruments (as defined in the Master Agreement) securing the Note and will endorse the Note in blank but without recourse (assuming the Note has been endorsed to Xxxxxx Xxx), and sever any applicable loan documents in connection with the Master Agreement as necessary; and Lender agrees that Xxxxxx Mae’s status as bailee for Lender shall terminate and be cancelled without further action upon delivery to Lender of the Note (endorsed as aforesaid) and Additional Documents, as described in (ii) above, t...
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ELIGIBLE LOANS AND TERMS OF WAREHOUSING ADVANCES. Subject to compliance with the terms and limitations set forth below, and all applicable terms, conditions, representations and warranties, and covenants in the Agreement, (1) Mortgage Loans which satisfy the following criteria shall be eligible to be included as Eligible Loans for purposes of the Agreement, and (2) any such Mortgage Loans which are accepted by the Administrative Agent and Lenders as Eligible Loans shall be subject to the following terms and conditions:
Sample 1
ELIGIBLE LOANS AND TERMS OF WAREHOUSING ADVANCES. Subject to compliance with the terms and limitations set forth below, and the terms, representations and warranties and the covenants in the Agreement (including applicable Exhibits), each of the following Mortgage Loans is an Eligible Loan for purposes of the Agreement: Xxxxxx Mae DUS Mortgage Loan Definition: A permanent Mortgage Loan on a Multifamily Property originated by Borrower under Xxxxxx Mae’s Delegated Underwriting and Servicing Guide.
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Related to ELIGIBLE LOANS AND TERMS OF WAREHOUSING ADVANCES

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  • Amounts and Terms of the Advances and Letters of Credit SECTION 2.01. The Advances and Letters of Credit. (a)

  • Amount and Terms of the Loans 2.1 Commitments 25 2.2 Borrowings 26 2.3 Disbursements; Funding Reliance; Domicile of Loans 29 2.4 Evidence of Debt; Notes 30

  • Amounts and Terms of the Loans 2.1 Commitments 12 2.2 Note 12 2.3 Principal Payments; Maturity of Loans 13 2.4 Interest 13 2.5 Fees 15 2.6 Termination or Reduction of Commitments 15 2.7 General Provisions as to Payments 15 2.8 Disbursement of Loan Proceeds 15 2.9 Use of Proceeds 15 2.10 Taxes 15 2.11 Illegality 16

  • Amount and Terms of the Loan Subject to the terms of this Agreement:

  • Loan and Terms of Payment For value received, Borrower promises to pay to the order of Bank such amount, as provided for below, together with interest, as provided for below.

  • Amount and Terms of Loans 20 2.1 Loans.........................................................20 2.2 Notes.........................................................21 2.3

  • AMOUNTS AND TERMS OF THE ADVANCES SECTION 2.01 The Revolving Advances and Letters of Credit 19 SECTION 2.02 Making the Revolving Advances 20 SECTION 2.03 Swingline Loans 21 SECTION 2.04 Issuance of and Drawings and Reimbursement Under Letters of Credit 22 SECTION 2.05 The CAF Advances 23 SECTION 2.06 Competitive Bid Procedure 23 SECTION 2.07 Fees 26 SECTION 2.08 Termination or Reduction of the Revolving Commitments 26 SECTION 2.09 Repayment 27 SECTION 2.10 Interest 27 SECTION 2.11 Interest Rate Determination 28 SECTION 2.12 Optional Conversion of Revolving Advances 29 SECTION 2.13 Optional Prepayments of Revolving Advances 29 SECTION 2.14 Increased Costs 29 SECTION 2.15 Illegality 30 SECTION 2.16 Payments and Computations 30 SECTION 2.17 Taxes 31 SECTION 2.18 Sharing of Payments, Etc. 33 SECTION 2.19 Use of Proceeds 33 SECTION 2.20 Extension Option 33 SECTION 2.21 Increase in the Aggregate Revolving Commitments 34 SECTION 2.22 Evidence of Debt 35 ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING SECTION 3.01 Conditions Precedent to Effectiveness of Sections 2.01 and 2.05 35 SECTION 3.02 Conditions Precedent to Each Revolving Borrowing, Issuance and Commitment Increase 36 SECTION 3.03 Conditions Precedent to Each CAF Borrowing 37 SECTION 3.04 Determinations Under Section 3.01 37 ARTICLE IV

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