Eligible Loans definition

Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

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Eligible Loans. The Eligible Dealer Loans and Eligible Purchased Loans.

Eligible Loans is defined on Schedule EL.

Examples of Eligible Loans in a sentence

• All Mortgage Loans listed in such Advance Files and included in the foregoing calculations (the “Purchased Loans”) are Eligible Loans.

• The Seller currently qualifies under the Current Repurchase Agreement for, and hereby requests, purchases of Eligible Loans as set forth below (the “Requested Purchases”) to be made on the following Purchase Date: ____________________, 20_____ (which must be a Business Day).

• Regular Transaction Swing Line Transaction Previous Day Aggregate Outstanding Purchase Price Purchase Price Advanced (Eligible Loans) EXHIBIT A, Form of Request/Confirmation – Page 2 13312-786/M/I Financial Warehouse Facility Repurchase Price Paid Aggregate Outstanding Purchase Price After giving effect to the Requested Purchases, the Aggregate Outstanding Purchase Price will not exceed the Maximum Aggregate Commitment.

• Each Request/Confirmation shall identify the Agent and the Seller and set forth: (a) the Purchase Date applicable to the relevant Transaction; (b) for each of the Eligible Loans to be sold, the Purchase Price; and (c) such other information set forth on the form Request/Confirmation attached as Exhibit A hereto.

• The Seller may from time to time deliver to the Custodian, for and on behalf of Agent, Mortgage Loans that are also Eligible Loans without entering into a new Transaction by providing to the Custodian the documents required under Section 3.1(a) with respect to such Mortgage Loans.

More Definitions of Eligible Loans

Eligible Loans means any Senior Mortgage Loans, B-Notes, Participation Interests and Mezzanine Loans that are also Eligible Assets.

Eligible Loans means any of the following types of loans, which loans are acceptable to Buyer in its sole discretion and are secured directly or indirectly by a property that is a multifamily, retail, office, warehouse and hospitality property (or any other property type acceptable to Buyer, but excluding in all cases undeveloped land) and is located in the United States of America, its territories or possessions:

Eligible Loans means floating or fixed rate whole mortgage loans (“Whole Loans”) (or senior interests in such Whole Loans) which are secured by stabilized or un-stabilized commercial or multi-family properties which have been approved by Buyer in its sole discretion as a Purchased Loan and which satisfy all of the following criteria:

Eligible Loans means performing loans granted by a FSP to the targeted economic sector(s) and other qualifying non targeted sectors as determined by the Bank;

Eligible Loans means any of the following types of loans listed in (i) through (iv) below:

Eligible Loans means each Borrower Member Loan (a) evidenced by loan documents, including without limitation a note, borrower agreement, and loan agreement, which loan documents (i) are in form and substance substantially identical to the Standard Loan Forms attached hereto and (ii) constitute the legal, valid and binding obligation of the applicable Person, and (b) for which Borrower has arranged funding from at least ten (10) Lender Members through the sale of Borrower Securities associated with the Borrower Member Loan in an amount equal to at least twenty percent (20%) of the principal amount of such Borrower Member Loan, and (ii) pledges to Administrative Agent, for the ratable benefit of the Lenders, and to each Lender, Borrower’s interest in the promissory note evidencing the portion of the Borrower Member Loan financed through an Advance.

Eligible Loans means Single-family Loans that are amortizing Conforming Mortgage Loans with original terms to stated maturities of thirty (30) years or less and that satisfy all applicable requirements of this Agreement for Conforming Mortgage Loans, and shall also mean Single-family Loans that are Jumbo Mortgage Loans, Ally Bank Loans, High CLTV MIP Mortgage Loans, and Low CLTV MIP Mortgage Loans that otherwise meet all criteria for Eligible Loans set forth on this Schedule EL and are not subject to a Disqualifier. Each Mortgage Loan must be secured by a first priority Lien on its related Mortgaged Premises. It may bear interest at a fixed interest rate, at a fluctuating interest rate or at a fixed or fluctuating interest rate for part of its term followed, respectively, by a fluctuating or fixed interest rate for the remainder of its term. No Mortgage Loan shall be an Eligible Loan at any time: