Common use of The Warehousing Commitment Clause in Contracts

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, to make Warehousing Advances to Borrowers from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have no obligation to make Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any time in excess of the lesser of (a) the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral Value. While a Default or Event of Default exists, Lenders may refuse to make any additional Warehousing Advances to Borrowers. Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note and for the performance of all of the Obligations.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, Lender agrees to make Warehousing Advances to Borrowers Borrower from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have no obligation to make The total aggregate principal amount of all Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any one time in excess of the lesser of (a) may not exceed the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral ValueCommitment Amount. While a Default or Event of Default exists, Lenders Lender may refuse to make any additional Warehousing Advances to BorrowersBorrower. Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances loans made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline the Sublimit Note and for the performance of all of the Obligations.. Warehousing Advances will be made to Cresleigh LLC, Cresleigh Bancorp or to Cresleigh Inc., as requested by Cresleigh LLC, Cresleigh Bancorp or Cresleigh Inc., respectively, will be deemed made to or for the benefit of Cresleigh LLC and Cresleigh Bancorp and Cresleigh Inc., jointly and severally, and each of Cresleigh LLC, Cresleigh Bancorp and Cresleigh, Inc. are obligated to repay any Warehousing Advances made to Cresleigh LLC, Cresleigh Bancorp or to Cresleigh Inc. under the Warehousing Commitment. With respect to its obligation to repay Warehousing Advances made to any other Borrower, each Borrower agrees to the terms set forth in Exhibit I.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, Lender agrees to make Warehousing Advances to Borrowers Borrower from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have no obligation to make The total aggregate principal amount of all Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any one time in excess of the lesser of (a) may not exceed the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral ValueCommitment Amount. While a Default or Event of Default exists, Lenders Lender may refuse to make any additional Warehousing Advances to Borrowers. Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this AgreementBorrower. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note and for the performance of all of the Obligations. Warehousing Advances will be made either to American Home or to Marina Mortgage as requested by either American Home or Marina Mortgage, but each Warehousing Advance, whether made to American Home or to Marina Mortgage, will be deemed made to or for the benefit of American Home and Marina Mortgage, and American Home and Marina Mortgage, jointly and severally, are obligated to repay any Warehousing Advances made to American Home or Marina Mortgage under the Warehousing Commitment. With respect to its obligation to repay Warehousing Advances made to the other Borrower, each Borrower agrees to the terms set forth in Exhibit J. If the initial Warehousing Advance has not been made within 15 days after the Closing Date, the Warehousing Commitment and Lender's obligation to make Warehousing Advances to Borrower under this Agreement will automatically terminate, and all Obligations (including any Obligations arising under Section 11.2) will automatically become due and payable, without presentment, demand or other Notice or requirements of any kind, all of which Borrower expressly waives.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, Lender agrees to make Warehousing Advances to Borrowers Borrower from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have Lender has no obligation to make Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any time in excess of the lesser of (a) the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral ValueCommitment Amount. While a Default or Event of Default exists, Lenders Lender may refuse to make any additional Warehousing Advances to BorrowersBorrower. Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” loans made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances made under the Existing Agreement are deemed to be initial Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note and for the performance of all of the Obligations.. Warehousing Advances will be made either to First NLC LLC, NLC, Inc. or to First NLC, Inc., as requested by either First NLC LLC, NLC, Inc. or First NLC, Inc., will be deemed made to or for the benefit of First NLC LLC, NLC, Inc. and First NLC, Inc., and First NLC LLC, NLC, Inc. and First NLC, Inc., jointly and severally, are obligated to repay any Warehousing Advances made to First NLC LLC, NLC, Inc. or to First NLC, Inc. under the Warehousing Commitment. With respect to its obligation to repay Warehousing Advances made to the other Borrower, each Borrower agrees to the terms set forth in Exhibit J.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, Lender agrees to make Warehousing Advances to Borrowers Borrower from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Dateto, pro rata in accordance with their respective Percentage Sharesbut not including, September 30, 2003, during which period Borrowers Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have no obligation to make The total aggregate principal amount of all Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any one time in excess of the lesser of (a) may not exceed the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral ValueCommitment Amount. While a Default or Event of Default exists, Lenders Lender may refuse to make any additional Warehousing Advances to BorrowersBorrower. Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances loans made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note and for the performance of all of the Obligations.. Warehousing Advances will be made to ABMSI, HACI or ABCI, as requested by ABMSI, HACI or ABCI, will be deemed made to or for the benefit of ABMSI, HACI and ABCI, and ABMSI, HACI and ABCI, jointly and severally, are obligated to repay any Warehousing Advances made to ABMSI, HACI or ABCI under the Warehousing Commitment. With respect to its obligation to repay Warehousing Advances made to the other Borrower, each Borrower agrees to the terms set forth in Exhibit J.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, Lender agrees to make Warehousing Advances to Borrowers Borrower from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have Lender has no obligation to make Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any time in excess of the lesser of (a) the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral ValueCommitment Amount. While a Default or Event of Default exists, Lenders Lender may refuse to make any additional Warehousing Advances to Borrowers. Borrower, Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” loans made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances made under the Existing Agreement are deemed to be initial Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note and for the performance of all of the Obligations.. Warehousing Advances will be made either to First NLC or to NLC, Inc., as requested by either First NLC or to NLC, Inc., will be deemed made to or for the benefit of First NLC and NLC, Inc., and First NLC and NLC, Inc., jointly and severally, are obligated to repay any Warehousing Advances made to First NLC or to NLC, Inc. under the Warehousing Commitment. With respect to its obligation to repay Warehousing Advances made to the other Borrower, each Borrower agrees to the terms set forth in Exhibit J.

The Warehousing Commitment. On 2.1(a) Subject to the terms and subject to the conditions and limitations of this AgreementAgreement and provided no Default or Event of Default has occurred and is continuing, including Exhibit Hthe Lender agrees from time to time during the period from the Closing Date, Lenders agreeto, severally and but not jointlyincluding, the Warehousing Maturity Date, to make Warehousing Advances to Borrowers from the Closing Date Borrowers, provided the total aggregate principal amount outstanding at any one time of all such Warehousing Advances shall not exceed the Warehousing Commitment Amount. The obligation of the Lender to make Warehousing Advances hereunder up to the Business Day immediately preceding Warehousing Commitment Amount is hereinafter referred to as the "Warehousing Commitment." Within the Warehousing Maturity DateCommitment, pro rata in accordance with their respective Percentage Shares, during which period the Borrowers may borrow, repay and reborrow in accordance with the provisions of this Agreementreborrow. Lenders and RFC have no obligation to make Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any time in excess of the lesser of (a) the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral Value. While a Default or Event of Default exists, Lenders may refuse to make any additional Warehousing Advances to Borrowers. Effective as of On the Closing Date, the Lender shall, without further action by the Borrowers, make Warehousing Advances in an amount equal to the aggregate principal balance of all outstanding “loans made pursuant to the Existing Warehousing Agreement, other than "P&I Advances” " and “Swingline "Working Capital Advances” made " (as defined therein), and shall apply such Warehousing Advances to repay such outstanding loans under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral is shall be security for the Warehousing Note and Swingline Promissory Note and for the performance of all of the Obligations. Warehousing Advances shall be made either to Washington or to Huntxxx, xx shall be requested by Washington or Huntxxx, xxt each Warehousing Advance, whether made to Washington or to Huntxxx xxxll be deemed made to or for the benefit of Washington and Huntxxx, and Washington and Huntxxx, xxintly and severally, shall be obligated to repay any Warehousing Advances made to Washington or Huntxxx xxxer the Warehousing Commitment. With respect to its obligation to repay Warehousing Advances made to the other Borrower, each Borrower agrees to the terms set forth in Exhibit L attached hereto and made a part hereof.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, to make Warehousing Advances to Borrowers Borrower from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. On the terms and subject to the conditions of this Agreement, RFC agrees to make RFC Direct Advances to Borrower from the Closing Date to the Business Day immediately preceding the Maturity Date, during which period Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. Effective as of the Closing Date, Lenders shall make Warehousing Advances and RFC have no obligation shall make RFC Direct Advances in an amount equal to make all loans outstanding under the Existing U.S. Home Agreement, and such Advances shall be applied by Credit Agent to repay such outstanding loans. In Credit Agent's discretion, Warehousing Advances and RFC Direct Advances may be made on or after June 30, 2001, against Eligible Assets previously financed under the Existing Universal Agreement, in connection with the repayment in full of Borrower's Debt under the Existing Universal Agreement. The total aggregate principal amount of all Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any one time in excess of the lesser of (a) may not exceed the Warehousing Credit Limit, or (b) and the Aggregate Warehousing Collateral Valuetotal aggregate principal amount of all RFC Direct Advances outstanding at any one time will not exceed the RFC Direct Commitment Amount. While a Default or Event of Default exists, Lenders may refuse to make any additional Warehousing Advances and RFC may refuse to Borrowersmake additional RFC Direct Advances to Borrower. Effective as of the Closing Date, all outstanding “All Warehousing Advances” and “Swingline Advances” made under the Existing Agreement are deemed to be Warehousing , RFC Direct Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note Notes and for the performance of all of the Obligations.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, to make Warehousing Advances against Eligible Assets other than Third-Party Builder Construction Mortgage Loans and Unimproved Land Loans, to Borrowers from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have no obligation to make The total aggregate principal amount of all Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any one time in excess of the lesser of (a) may not exceed the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral Value. While a Default or Event of Default exists, Lenders may refuse to make any additional Warehousing Advances to Borrowers. Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note and for the performance of all of the Obligations.

The Warehousing Commitment. On the terms and subject to the conditions and limitations of this Agreement, including Exhibit H, Lenders agree, severally and not jointly, Lender agrees to make Warehousing Advances to Borrowers Borrower from the Closing Date to the Business Day immediately preceding the Warehousing Maturity Date, pro rata in accordance with their respective Percentage Shares, during which period Borrowers Borrower may borrow, repay and reborrow in accordance with the provisions of this Agreement. Lenders and RFC have no obligation to make The total aggregate principal amount of all Warehousing Advances and Swingline Advances in an aggregate amount outstanding at any one time in excess of the lesser of (a) may not exceed the Warehousing Credit Limit, or (b) the Aggregate Warehousing Collateral ValueCommitment Amount. While a Default or Event of Default exists, Lenders Lender may refuse to make any additional Warehousing Advances to BorrowersBorrower. Effective as of the Closing Date, all outstanding “Warehousing Advances” and “Swingline Advances” made under the Existing Agreement are deemed to be Warehousing Advances and Swingline Advances, as applicable, made under this Agreement and the Interest Rates and fees set forth in the Existing Agreement, or any separate letter agreement entered into under the Existing Agreement, will no longer apply. In addition, as of the Closing Date, all outstanding RFC/WaMu Advances and RFC Direct Advances loans made under the Existing Agreement are deemed to be Warehousing Advances made under this Agreement, and the Interest Rates and fees set forth in the Existing Agreement, or under any separate letter agreement entered into under the Existing Agreement, will no longer apply. The Lenders will, at the request of the Credit Agent, make or accept such payments as may be necessary to reallocate their commitments so that each has advanced its pro rata share of all Warehousing Advances in accordance with the other terms of this Agreement. All Warehousing Advances under this Agreement constitute a single indebtedness, and all of the Collateral is security for the Warehousing Note and Swingline Note and for the performance of all of the Obligations.. Warehousing Advances will be made to ABMSI, HACI or ABCI, as requested by ABMSI, HACI or ABCI, will be deemed made to or for the benefit of ABMSI, HACI and ABCI, and ABMSI, HACI and ABCI, jointly and severally, are obligated to repay any Warehousing Advances made to ABMSI, HACI or ABCI under the Warehousing Commitment. With respect to its obligation to repay Warehousing Advances made to the other Borrower, each Borrower agrees to the terms set forth in Exhibit J.