MSR Advances definition

MSR Advances means advances made to the Company or any of its Restricted Subsidiaries under a Warehouse Facility to finance the purchase of, and that are secured by, Mortgage Servicing Rights.
Sample 1

Examples of MSR Advances in a sentence

  • If any MSR Advances of a Servicing Guarantor are outstanding, such Servicing Guarantor may not pay its Guarantee until five Business Days after the trustee, agent or representatives of all the holders of such Senior Indebtedness receive notice of such acceleration and, thereafter, may pay its Guarantee only if this Indenture otherwise permits payment at that time.

  • Each Servicing Guarantor agrees, and each Holder by accepting a Note agrees, that the obligations of such Servicing Guarantor under its Guarantee are subordinated in right of payment, to the extent and in the manner provided in this Article XIII, to the prior payment in full of all MSR Advances (“Senior Indebtedness”) and that the subordination is for the benefit of and enforceable by the lenders under any Warehouse Facility pursuant to which MSR Advances are made (a “Senior Indebtedness Facility”).

Related to MSR Advances

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Monthly Advances Principal and interest advances and servicing advances including costs and expenses of foreclosure.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • LIBOR Rate Loans means the Loans bearing interest with reference to the LIBOR Rate.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • Revolving Credit Advances means advances of principal on the Revolving Credit Loan by the Bank under the terms of this Loan Agreement to the Borrower during the term of the Revolving Credit Loan pursuant to Section 3.1.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Revolving Advance has the meaning given in Section 2.1.

  • Nonrecoverable Advances Means, with respect to any Mortgage Loan, (a) any Delinquency Advance or Servicing Advance previously made and not reimbursed pursuant to Section 5.03 of the Sale and Servicing Agreement, or (b) a Delinquency Advance proposed to be made in respect of a Mortgage Loan or REO Property either of which, in the good faith business judgment of the Servicer, as evidenced by an Officer’s Certificate delivered to the Indenture Trustee no later than the Business Day following such determination, would not ultimately be recoverable pursuant to Section 5.03 of the Sale and Servicing Agreement.

  • Committed Loans means loans made pursuant to Section 2.1(a).