Sublines definition

Sublines means the four (4) subdivisions of the Credit Line, consisting of: - the "SUBPRIME SINGLE-FAMILY WAREHOUSE SUBLINE" of up to one hundred percent (100%) of the Aggregate Committed Sum (the "SUBPRIME SINGLE-FAMILY SUBLIMIT") of principal that may borrowed (as "SUBPRIME SINGLE-FAMILY WAREHOUSE ADVANCES") by the Company and outstanding from time to time -- with a Wet Warehousing Sublimit to finance Subprime Single-family Mortgage Loans that are Bridged Loans and an Uncovered Warehousing Sublimit (the 27 42 "UNCOVERED WAREHOUSING SUBLINE") to finance Subprime Single-family Mortgage Loans that have become Uncovered Loans -- to acquire and accumulate Eligible Subprime Single-family Mortgage Loans to hold pending their transfers and assignments from time to time either (i) as Whole Loans sold for cash to investors or (ii) as pools of Mortgage Loans sold to issuers of Structured Securities to be based on and backed by those Mortgage Loans in exchange for proceeds of the sale of those Structured Securities to investors, with the sale proceeds in each case to be paid to the Agent for concurrent deposit in the Note Payment Account and to be applied toward repayment to the Lenders of such Advances, with any remaining balance (in the absence of a Default or Event of Default) to be transferred by the Agent to the Company's own account with the Agent. - the "P&I ADVANCES SUBLINE" of up to seven and one-half percent (7 1/2%) of the Aggregate Committed Sum (the "P&I ADVANCES SUBLIMIT") of principal that may be borrowed by the Company (as "P&I SUBLINE ADVANCES") and outstanding from time to time to finance P&I Receivables produced by the Company's P&I Advances. - the "SERVICING ADVANCES SUBLINE" of up to five percent (5%) of the Aggregate Committed Sum (the "SERVICING ADVANCES SUBLIMIT") of principal that may be borrowed by the Company (as "SERVICING SUBLINE ADVANCES") and outstanding from time to time to finance receivables produced by the Company's cash advances made from time to time pursuant to its obligation to do so as Servicer of first and junior lien Single-family Mortgage Loans to pay: - T&I Advances; - P&I Advances that the Company believes will not be collected on or before thirty-three (33) days after their respective funding dates; and - Enforcement Advances. - the "RECOVERIES SUBLINE" of up to two and one-half percent (2 1/2%) -- provided, that from and after the last day of the Company's fiscal quarter as of which date the Company's Tangible Net Worth first ex...
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Sublines is defined in Section 2.1.
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Sublines means the two (2) subdivisions of the Credit Line, consisting of: o the "Single-family Warehouse Subline" of up to one hundred percent (100%) of the Aggregate Committed Sum (the "Single-family Sublimit") of principal that may borrowed (as "Single-family Warehouse Advances") by the Companies and outstanding from time to time -- with a Wet Warehousing sublimit to finance Wet Loans -- to acquire and accumulate Eligible Single-family Collateral to hold pending their transfers and assignments from time to time either (i) as Whole Loans sold for cash to investors or (ii) as pools of Mortgage Loans sold to issuers of Structured Securities to be based on and backed by those Mortgage Loans in exchange for proceeds of the sale of those Structured Securities to investors, with the entire net sale proceeds in each case to be paid to the Agent for concurrent deposit in the Note Payment Account and to be applied toward repayment to the Lenders of such Advances with any remaining balance (in the absence of a Default or Event of Default) to be transferred by the Agent to the Companies' own accounts with the Agent; and o the "Working Capital Subline" of up to Five Million Dollars ($5,000,000) (the "Working Capital Sublimit") of principal that may be borrowed by the Companies (as "Working Capital Subline Advances") and outstanding from time to time to finance the Companies' working capital requirements.
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Examples of Sublines in a sentence

  • After giving effect as required by the Current Credit Agreement to the requested Advance, (i) the outstanding principal balance of the Loan will not exceed the Aggregate Committed Sum, (ii) the sum of outstanding Advances under each Subline will not exceed that Subline's Borrowing Base and (iii) no Sublimit will be exceeded.

  • Subject to the terms and conditions of this Agreement, on the Closing Date each Lender with a Special Term Subline Commitment agrees (severally, not jointly or jointly and severally) to make Special Term Sublines (collectively, the "Special Term Subline") to Borrowers in an amount equal to such Lender's Pro Rata Share of the Special Term Subline Amount.

  • A separate Request for Borrowing shall be made for each Borrowing, which, when appropriately completed and with appropriate schedules attached, may include requests for Advances under one or more Sublines and/or Wet Warehousing Advances.

  • On any day, the aggregate amount of Advances outstanding under (i) the Loan shall in no event exceed the Aggregate Committed Sum for that day or (ii) any Subline shall in no event exceed either (x) the Subline Limit for that Subline or (y) that Subline's Borrowing Base for that day.

  • Section 2.1 General Terms for the Warehouse Line and its Sublines and Sub-sublines.

  • Upon expiration or any earlier termination of the Warehouse Line (including its Sublines and Subsublines), the Warehouse Notes shall automatically be and become due and payable on demand, the Warehouse Facility Fee shall automatically cease to accrue and any accrued but unpaid portion of it shall be immediately due and payable to the Administrative Agent (for the accounts of the Banks) without notice or demand.

  • Upon expiration or any earlier termination of the Warehouse Line (including its Sublines and Sub-sublines), the Current Warehouse Notes shall automatically be and become due and payable on demand, the Warehouse Facility Fee shall automatically cease to accrue and any accrued but unpaid portion of it shall be immediately due and payable to the Agent (for the accounts of the Warehouse Banks) without notice or demand.

  • In addition to its Commitment under SECTION 2.1, Texas Commerce agrees to fund revolving credit Swing Line Advances to the Company in principal amounts which do not on any day exceed the Swing Line Limit for the purpose of initially funding requested Borrowings under the Sublines.

  • Subject to the Commitments Lapse Provisions and the Fundings Availability Termination Provisions, credit under the Warehouse Line (including its Sublines and Sub-sublines) shall be available to the Obligors until the Warehouse Termination Date.

  • Borrowings under the Credit Line are available only as Borrowings under its Sublines.

Related to Sublines

  • Subloop shall have the meaning set forth in Section 9.3.1.

  • Respiratory protective equipment means an apparatus, such as a respirator, used to reduce an individual's intake of airborne radioactive materials.

  • Sites means the area(s) upon or in which the construction work is carried on, and such other areas adjacent thereto as may be designated by the Commissioner.

  • Low terrain means any area other than high terrain.

  • Manufacturing Facilities means facilities engaged in the