Facility LTV definition

Facility LTV means, at any time, the LTV Level calculated immediately after giving effect to the most recent Advance or prepayment.

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Facility LTV means, for any Calculation Date, a fraction expressed as a percentage, the numerator of which is the aggregate principal amount of the Loans outstanding, and the denominator of which is adjusted Borrowing Base calculated on the assumption that the Advance Rate for each Collateral Loan is 100%, in each case on a pro forma basis as of such Calculation Date following the application of Principal Proceeds pursuant to Section 9.1(a)(ii).

Facility LTV means, at any time, the LTV Level calculated immediately after giving effect to the most recent Advance or prepayment. “Facility Adjustment Event” means any of the following: (i)

Examples of Facility LTV in a sentence

After giving effect to the proposed Transaction, the Repurchase Effective LTV of the High LTV Agency/Prime Jumbo Loans subject to the Transactions hereunder shall not exceed the Purchase Effective LTV of the High LTV Agency/Prime Jumbo Loans by more than the Facility LTV Trigger.
For the avoidance of doubt, to the extent the updated Property Values set forth in the BPOs, Appraisals and AVMs delivered by Seller pursuant to this Section 14(y)(i) and obtained by Buyer pursuant hereto result in a Facility LTV Margin Deficit, Sellers shall cure such Facility LTV Margin Deficit in accordance with Section 7(h).
In the event Buyer delivers a Facility LTV Margin Call to Sellers after 10:00 a.m. (New York City time) on any Business Day, Sellers shall be required to transfer cash or Additional Assets no later than 5:00 p.m. (New York City time) on the second (2nd) Business Day following Sellers’ receipt of such Facility LTV Margin Call.
If Buyer delivers a Facility LTV Margin Call to Seller on or prior to 10:00 a.m. (New York City time) on any Business Day, then Sellers shall transfer cash or Additional Assets to Buyer or its designee no later than 5:00 p.m. (New York City time) on the Business Day following Sellers’ receipt of such Facility LTV Margin Call.

More Definitions of Facility LTV

Facility LTV. “Free Float,” “Free Float Percentage,” “Independent Director Matters,” “LTV Level,” “Mandatory Prepayment Amount,” “Mandatory Prepayment Event,” “Market Disruption Event,” “Market Price,” “Merger Event,” “Ordinary Cash Dividend,” “Permitted Collateral Share Sale,” “Permitted Transaction,” “PIK Interest Conditions,” “Potential Facility Adjustment Event,” “Prohibited Transaction,” “Required Lenders,” “Restricted Transactions,” “Separateness Provisions,” “Share Collateral Value,” “Collateral Call Trigger Event,” “Tender Offer,” “Trading Suspension,” or “Transfer Restrictions” (or, in each case, any defined term used therein), or increase the Initial LTV, the Collateral Call LTV Level or the Maintenance LTV Level;