Loan Excess definition

Loan Excess means, at any point in time, the amount, if any, by which the outstanding principal balance of the Advances plus the undisbursed amount of all outstanding standby letters of credit issued pursuant to this Agreement exceeds the Commitment Limit then in effect.

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Loan Excess means, at any point in time, the amount, if any, by which the outstanding balance on the Loans evidenced by the Note exceeds the Revolving Commitment then in effect.

Loan Excess means, at any point in time, the amount, if any, by which the outstanding balance on the Aggregate Outstanding Credit Exposure exceeds the Aggregate Commitment Amount then in effect.

Examples of Loan Excess in a sentence

For any Qualified Substitute Mortgage Loan and Distribution Date, the product of (x) the Stated Principal Balance, as of the second preceding Due Date after giving effect to scheduled payments for that Due Date, whether or not received, of such Mortgage Loan and (y) the Qualified Substitute Mortgage Loan Excess Interest Rate for such Mortgage Loan and Distribution Date.
Excess proceeds, if any, from the liquidation of a Liquidated Mortgage Loan ("Excess Proceeds") that is a Non-Designated Mortgage Loan will be retained by the related Servicer as additional servicing compensation pursuant to Section 3.14.
Notwithstanding the foregoing provisions of Subsection 2.4(b), the Borrower shall pay the amount of any Loan Excess that results from the application of each Periodic Reduction to the Borrowing Base on the day that such Periodic Reduction takes effect.
The Borrower specifically acknowledges that the ninety (90) day grace period set forth in Subsection 2.4(b) pertaining to a Loan Excess resulting from a Borrowing Base redetermination is not applicable to any failure to make such mandatory prepayment triggered by a Loan Excess due to a Periodic Reduction as provided in this Subsection 2.4(c).
Excess proceeds, if any, from the liquidation of a Liquidated Mortgage Loan and/or with respect to recoveries obtained following the liquidation of a Liquidated Mortgage Loan ("Excess Proceeds") that is a Non-Designated Mortgage Loan shall be retained by the related Servicer as additional servicing compensation pursuant to Section 3.14.
Seller and Purchaser intend and agree to treat the transfer and assignment of the Replacement Mortgage Loan Excess Spread as an absolute sale for tax purposes, and as an absolute and complete conveyance of title for property law purposes.
Notwithstanding the foregoing provisions of this section, the Borrower shall pay the amount of any Loan Excess that would result from the application of each Monthly Borrowing Base Reduction on or before the day that such Monthly Borrowing Base Reduction becomes applicable.
Within one (1) Business Day after the Business Day on which the Company receives such notice, the Company shall repay outstanding Revolving Advances in an amount sufficient to eliminate the full amount of such Loan Excess.
Subject to, and upon the terms and conditions of this Agreement, and, more particularly, the conditions of this Article II, if Seller refinances any Mortgage Loan, it shall designate a residential mortgage loan as a Replacement Mortgage Loan and assign the Replacement Mortgage Loan Excess Spread with respect to such Replacement Mortgage Loan on the applicable Replacement Date to Purchaser as provided in this Agreement.
If the Borrower delivers an Equity Raise Notice in accordance with the foregoing, it shall have an additional six days from delivery of such Equity Raise Notice to make a prepayment in respect of the outstanding amount of the Revolving Loans in the amount of the Revolving Loan Excess solely from the proceeds of common equity securities of the Borrower.

More Definitions of Loan Excess

Loan Excess has the meaning specified in Section 2.04(d).

Loan Excess means, at any point in time, the amount, if any, by which the outstanding balance on the Aggregate Outstanding Credit Exposure exceeds the Aggregate Commitment Amount then in effect. "Marketable Title" means good and indefeasible title, as set forth, qualified and/or limited on Exhibit "A," free and clear of all mortgages, liens and encumbrances, except for Permitted Encumbrances.

Loan Excess means, at any point in time, the amount, if any, by which (i) the outstanding balance on the Aggregate Outstanding Credit Exposure exceeds the lesser of (a) the Borrowing Base and (b) the Aggregate Commitment Amount then in effect, or (ii) the outstanding balance of L/C Obligations exceeds the Letter of Credit Limit.

Loan Excess means, at any point in time, the amount, if any, by which the outstanding balance on the Loans evidenced by the Note exceeds the lesser of: (a) the Commitment in effect from time to time, or (b) seventy percent (70%) of the per Trust Unit price at which the Trust Units are trading, from time to time, times the number of Trust Units owned by Borrower that have been included in the Borrowing Base Property.

Loan Excess means the amount (if any) by which the Revolving Credit Exposure exceeds the Borrowing Base in effect on the date of determination (whether as a result of a scheduled or unscheduled redetermination or otherwise).

Loan Excess means, with respect to any Loan and any Note Payment Date, the number of basis points by which: (a) the Loan Margin, exceeds (b) the sum of: (i) the WAFR, and (ii) the Note WAC for the related Note Payment Date.