Eligible Advances definition

Eligible Advances the aggregate amount of Loans that would otherwise be available to be borrowed based upon the formulas set forth in any Borrowing Base Certificate.
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Eligible Advances means the advance Producer(s) is/are entitled to as calculated in the APP Application or any amendment thereto;
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Eligible Advances collectively, each Advance due to a Borrower that is designated by the Agent, at the time such Advance is initially requested to be added to the Borrowing Base pursuant to a Borrowing Base Certificate or following a Material Amendment, in each case, in the Agent’s sole and reasonable discretion, to be an Eligible Advance. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, at no time shall any Advance described below be deemed an Eligible Advance:
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Examples of Eligible Advances in a sentence

  • Eligible Advances must have been actually incurred by the Servicer, and T&I Escrow Advances and Corporate Servicing Advances must fall under one of the 571 Codes in the ▇▇▇▇▇▇ ▇▇▇ 571 Claims Guide.

  • Eligible Advances also shall not include advances applicable to the payment of any guaranty or excess servicing fees or lender paid mortgage insurance premiums.

  • Servicer shall not draw on any third party financing or other facility funds for use to pay amounts attributable to Eligible Advances for which ▇▇▇▇▇▇ ▇▇▇ has made payment to Servicer of Periodic Early Reimbursement Amounts unless Servicer reduces the applicable Periodic Early Reimbursement Amount by a commensurate amount.

  • Any such amounts shall be considered a collection or reimbursement related to Eligible Advances and be immediately deposited by the Servicer into a Collections Account.

  • In the event that the Effective Borrowing Base Certificate shall reflect total Eligible Advances that are less than $50,000,000, the amount by which such Eligible Advances are less than $50,000,000 shall be deemed to be Over Advances.

  • However, the parties may by written agreement add additional Eligible Advances to Schedules 1 and 2 (as applicable), which Eligible Advances shall be deemed incorporated into the EAR Agreement.

  • Notwithstanding the foregoing and except as identified in Schedules 1 and 2, Eligible Advances shall not include advances paid or reimbursed by Servicer in connection with a servicing transfer to the Servicer, including servicing transfers after the date of this EAR Agreement.

  • To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Advances are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms except to the extent that enforceability may be limited by bankruptcy or insolvency laws and general principles of equity.

  • Eligible Advances shall also include any outstanding P&I Delinquency Advances, T&I Escrow Advances and Corporate Servicing Advances previously paid or reimbursed by Servicer and identified on Schedule 2 in connection with a servicing transfer to the Servicer.

  • By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Vice President Title: Senior Vice President and Treasurer Date: 3/31/14 Date: 3/31/14 EARLY REIMBURSEMENT PERIOD: The period (“Early Reimbursement Period”) during which ▇▇▇▇▇▇ Mae will make payments of Periodic Early Reimbursement Amounts (as defined below) in respect of Eligible Advances (as defined below), which will commence on the Closing Date and end on the first to occur of: 1.

Related to Eligible Advances