GMAC Loans definition

GMAC Loans. Those Mortgage Loans subject to this Agreement which were purchased by EMC from GMAC pursuant to the GMAC Servicing Agreement.
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GMAC Loans the Tranche C Loans made by the Lender to the Borrower which have been designated by the Borrower to be used to fund Additional GMAC Transfers.
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GMAC Loans the Loans made by the Treasury to the Borrower, in an aggregate amount not exceeding the GMAC Sublimit solely for the purpose specified in Section 6.5 of the GMAC Master Agreement.
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Examples of GMAC Loans in a sentence

  • Notwithstanding anything to the contrary herein, any GMAC Loan requested to be made in accordance with Section 2.3 shall be subject only to the satisfaction of the condition that the Treasury shall have received a Use of Proceeds Statement; provided that, the GMAC Loans may be used solely to fund Additional GMAC Transfers.

  • The aggregate amount of Tranche C Loans which are GMAC Loans may not exceed the GMAC Sublimit.

  • The proceeds of the Loans shall be used to finance the consideration to be paid under the Master Transaction Agreement and to finance the payment of fees and expenses related to the Related Transactions and the Loan Documents, and for the working capital purposes of the Borrower and its Subsidiaries; provided, that the GMAC Loans shall be used solely to fund Additional GMAC Transfers.

  • Subject to the terms and conditions hereof, the Lender agrees to make term loans (each, a “Tranche C Loan”) to the Borrower from time to time during the Tranche C Commitment Period in an aggregate amount not exceeding the Tranche C Commitment, provided that the GMAC Sublimit may only be utilized to borrow GMAC Loans.


More Definitions of GMAC Loans

GMAC Loans. Those Mortgage Loans subject to this Agreement which were purchased by the Seller from GAMC pursuant to the GAMC Servicing Agreement.
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