Credit B Loan definition

Credit B Loan means a Mortgage Loan (other than a Mortgage Loan that satisfies all the requirements of an Eligible Mortgage Loan) the obligor of which has a Credit Score as described on Exhibit G hereto.
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Credit B Loan contained in Section 1.01 of the Warehouse Credit Agreement is amended to read in full as follows:
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Credit B Loan means a Mortgage Loan underwritten in accordance with the Borrowers' standards for a credit B loan as approved by the Lender from time to time.
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Examples of Credit B Loan in a sentence

  • Each Revolving Credit B Loan to the Borrowers shall be denominated in Dollars.

  • Borrower shall have the right, upon at least five Business Days’ written notice to the Lenders, to terminate the Line of Credit B Loan Commitments, (i) in whole, or (ii) in part, in a minimum amount of $5,000,000 and an integral multiple of $1,000,000, but not to an amount less than $40,000,000.

  • Each such notice shall specify (i) the principal amount of the Revolving Credit Loan requested and whether such request is for a Revolving Credit A Loan or a Revolving Credit B Loan, (ii) the proposed Drawdown Date of such Revolving Credit Loan, (iii) the Interest Period for such Revolving Credit Loan, and (iv) the Type of such Revolving Credit Loan.

  • Prior to the effectiveness of an initial public offering of the Common Stock of the Company, neither the adoption of the Plan nor the grant of the Restricted Stock Units pursuant to this Agreement shall restrict in any way the adoption of any amendment, supplement or other modification of the Stockholders Agreement, if any, in accordance with the terms of such agreement.

  • Any partial reduction of the Line of Credit B Loan Commitments pursuant to this Section 2.3(c) shall result in a reduction pro-rata of the Line of Credit B Loan Commitments of each of the Lenders.

  • Provided, however, that any such termination shall be accompanied, (i) in the case of a termination in whole, by payment of the Line of Credit B Loan Liabilities in full, or (ii) in the case of a partial termination, payment of the Line of Credit B Loan Liabilities to the extent necessary to cause the Available Amount B to be not less than zero.

  • We understand that this request is irrevocable and binding on us and obligates us to accept the requested Revolving Credit B Loan on such date.

  • Borrower agrees to pay to the Agent for distribution to the Lenders (based on their respective Pro Rata Percentages) quarterly commitment fees ("COMMITMENT FEES") from the Closing Date to the Maturity Date, calculated using the then applicable rates per annum set forth in the definition of Applicable Margin, and applied to the daily average of the Line of Credit A Loan Commitments and the Line of Credit B Loan Commitments, respectively.

  • Each request for a Revolving Credit B Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in Section 11 and Section 12, in the case of the initial Revolving Credit B Loans to be made on the Closing Date, and Section 12, in the case of all other Revolving Credit B Loans, have been satisfied on the date of such request.

  • To reflect the change in the amount of the Line of Credit A Loan Commitment and the change in the amount of the Line of Credit B Loan Commitment, Borrower shall execute and deliver to the Agent, new Notes for each Lender.