Warehouse Lines means indebtedness of the Seller used in the ordinary course of business of the Included Business to fund lending activities, including those Assumed Credit Agreements identified under the heading “Warehouse Lines” on Schedule 1.1 — “Assumed Credit Agreements”.
Warehouse Lines means, collectively, (i) each warehouse credit facility provided to any Subsidiary of the Parent on the Restatement Effective Date by one or more lenders that are not affiliated with the Parent, the material terms and provisions of which have been disclosed to the Administrative Agent in writing prior to the Restatement Effective Date (each, a “Restatement/Closing Date Warehouse Line”) and (ii) each warehouse credit facility provided to any Subsidiary of the Parent after the Restatement Effective Date by one or more lenders that are not affiliated with the Parent, the material terms and provisions of which (including, without limitation, advance rates and borrowing base eligibility criteria) are substantially similar to those set forth in one or more of the Restatement/Closing Date Warehouse Lines.
Examples of Warehouse Lines in a sentence
For purposes of computing secured debt to gross tangible assets, both the numerator and the denominator should deduct the total amount of Warehouse Lines of Credit as identified in Schedule K of the MBFRF.
Warehouse Lines of Credit CBRE Capital Markets has warehouse lines of credit with third-party lenders for the purpose of funding mortgage loans that will be resold, and a funding arrangement with Fannie Mae for the purpose of selling a percentage of certain closed multifamily loans to Fannie Mae.
See Warehouse Lines of Credit: Limited for B & C Lenders?, Inside B & C Lending, Feb.
Warehouse Lines of Credit As a means of financing mortgage loans held for sale, the Company utilizes line of credit agreements for the purpose of temporarily warehousing mortgage loans pending the sale of the loans.
As of December 31, 2019, there was $1,250,000 outstanding under the revolving line-of-credit.Debt Covenants for Mortgage Warehouse Lines of CreditThe Company, through its subsidiary SecurityNational Mortgage, has a $100,000,000 line of credit with Wells Fargo Bank N.A. The agreement charges interest at the 1-Month LIBOR rate plus 2.1% and matures on June 16, 2020.
More Definitions of Warehouse Lines
Warehouse Lines means any Debt of Borrower, any Guarantor or any Foreign Subsidiary created for the purpose of acquiring or originating loans, leases, securities and, if approved by Administrative Agent in its sole and absolute discretion, other asset types provided that (a) such loans, leases, securities or other assets are intended to be sold, repaid or otherwise liquidated in order to make payments on such Debt, (b) such Debt is related to the lines of business of Borrower, Guarantors and the Foreign Subsidiaries permitted by Section 7.2 hereof, (c) any such Debt shall be fully collateralized at its inception, and (d) there shall exist at the inception of such Debt a strategy for selling or otherwise liquidating specific collateral securing such Debt in a commercially reasonable manner within the time period typically required in the industry (and not in a liquidation or distress situation) and by Borrower and its Subsidiaries for such specific collateral, but in no event more than twelve (12) months following its inclusion as collateral for the applicable Debt.
Warehouse Lines means the credit lines issued by financial institutions for the purpose of financing Mortgage Loans held for sale to Investors.
Warehouse Lines. Individually and collectively (i) that certain Master Repurchase Agreement, dated March 30, 2006, among Column Financial Inc., 111 Debt Acquisition LLC, 111 Debt Acquisition Mezz LLC and Lexington and (ii) that certain Master Repurchase Agreement to be entered into between Bear Stearns Interxxxxxxxl Limited and 111 Debt Acquisition-Two LLC.
Warehouse Lines means any Debt of Borrower or any Guarantor created for the purpose of acquiring or originating loans and securities which are intended to be sold, repaid or otherwise liquidated in order to make payments on such Debt and which are related to the lines of business of Borrower and the Guarantors permitted by Section 7.2 hereof, including, without limitation, commercial and residential mortgages or mortgage backed securities, loans to business franchises or securities backed by loans to business franchises, builder loans and commercial finance loans; provided that (a) any such Debt shall be fully collateralized at its inception, (b) in no event shall the aggregate amount of Cash Contributed Capital exceed 20% of the balance sheet value of loans or securities securing the Warehouse Lines outstanding on the date of determination (the balance sheet value of such loans and securities securing such Debt shall be determined in accordance with GAAP and marked to market no less than quarter-annually), and (c) there shall exist at the inception of such Debt a strategy for selling or otherwise liquidating specific collateral securing such Debt in a commercially reasonable manner within the time period typically required in the industry and by AMRESCO and its Subsidiaries for such specific collateral, but in no event more than twenty-four (24) months following its inclusion as collateral for the applicable Debt.
Warehouse Lines means warehouse lines of credit, repurchase agreements and Indebtedness secured by commercial real estate mortgage loans and other commercial real estate-related debt investments (including any instrument evidencing the same and any instrument, security or other asset acquired through collection efforts with respect to the same), equity interests issued by the borrower or seller party thereto, and all files, documents, agreements, real estate, collections and other related rights and assets.
Warehouse Lines means Indebtedness of any Borrower (other than AMRESCO, it being understood and agreed that AMRESCO shall not have, or have any liability for, any Warehouse Lines), any Guarantor, any Excluded Subsidiary or any Foreign Subsidiary created for the purpose of acquiring or originating loans, leases, securities and, if approved by Administrative Agent in its sole and absolute discretion, other asset types; provided that (a) such loans, leases, securities or other assets are intended to be sold, repaid or otherwise liquidated in order to make payments on such Indebtedness, (b) such Indebtedness is related to the lines of business of Borrowers, Guarantors and the Foreign Subsidiaries permitted by Section 7.4, (c) any such Indebtedness shall be fully collateralized when incurred by assets not included in the Borrowing Base, (d) such Indebtedness shall be non-recourse to AMRESCO, and shall be recourse only to the Subsidiary that received proceeds from such Indebtedness and cross-collateralized only with Indebtedness that has the same borrower and lender, and (e) there shall exist at the time such Indebtedness is incurred a strategy for selling or otherwise liquidating specific collateral securing such Indebtedness in a commercially reasonable manner within the time period typically required in the industry (and not in a liquidation or distress situation) and by Borrowers and their Subsidiaries for such specific collateral, but in no event more than twelve (12) months following its inclusion as collateral for the applicable Indebtedness.
Warehouse Lines means, (i) with respect to Purchaser, Indebtedness used in the Ordinary Course to fund lending activities and (ii) with respect to any Acquired Company, Indebtedness set forth on Section 1.1(d) of the Company Disclosure Letter.