Warehouse Lines of Credit definition

Warehouse Lines of Credit means collectively (i) the line of credit of the Company with Residential Funding Corporation pursuant to the Residential Funding Agreement, as the same may be amended or increased or otherwise modified from time to time and any refinancing or replacements thereof, (ii) the line of credit of the Company with Bank United pursuant to the Bank United Funding Agreement, as the same way may be amended or increased or otherwise modified from time to time any refinancing or replacements thereof, {iii} the line of credit of the Company with Xxxxxx River Funding Inc. pursuant to the Xxxxxx River Funding Agreement, as the same may be amended or increased or otherwise modified from time to time and any refinancing or replacement thereof and (iv) any other similar line of credit approval by the Required Holders, the terms of which require the Senior Subordinated Obligations to be subordinated to the borrowings by the Company thereunder.
Sample 1
Warehouse Lines of Credit means collectively the lines of credit of the Company with (i) Residential Funding Corporation pursuant to that certain Warehousing Credit and Security Agreement dated as of April 8, 1994, as amended by that certain First Amendment to Warehousing Credit and Security Agreement and as further amended by that certain Second Amendment to Warehousing Credit and Security Agreement dated as of October 26, 1995, and (ii) Superior Bank FSB pursuant to that certain Master Purchase Agreement dated as of August 14, 1995.
Sample 1
Warehouse Lines of Credit means collectively (i) the line of credit of the Company with Residential Funding Corporation pursuant to the Residential Funding Agreement, as the same may be amended or increased or otherwise modified from time to time and any refinancings or replacements thereof and (ii) any other similar line of credit approved by the Required Holders, the terms of which require the Senior Subordinated Obligations to be subordinated to the borrowings by the Company thereunder.
Sample 1

Examples of Warehouse Lines of Credit 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.

  • Contrary to Hawkins’ and Pacific Beach’s representations, they did not 2 Warehouse Lines of Credit are used as tools for banks to provide interim, short-term financing to mortgage originators such as USMS.

  • Warehouse Lines of Credit CMS has warehouse lines of credit to fund government and conventional residential mortgage loans.

  • Population composition: 25.108 (49.14%) male, and 25.987 (50.86%) female.

  • Debt Covenants for Mortgage Warehouse Lines of Credit The Company, through its subsidiary SecurityNational Mortgage, has a line of credit with Texas Capital Bank N.A. This agreement with the bank allows SecurityNational Mortgage to borrow up to$175,000,000 for the sole purpose of funding mortgage loans.

  • The Total Size and Usage of Warehouse Lines of Credit at Banks Subject to the Federal Reserve’s Comprehensive Capital Analysis and Review, 2013–16Billions of dollars CommittedUtilized30 20 10 2014 2015 2016Year Sources: Federal Reserve Y-14 data; authors’ calculations.

  • Warehouse Lines of Credit Encompass Lending Group (“Encompass”), an indirect wholly owned subsidiary of the Company, utilizes line of credit facilities as a means of temporarily financing mortgage loans pending their sale.


More Definitions of Warehouse Lines of Credit

Warehouse Lines of Credit means any agreement, individually or collectively, providing for up to $50 million of revolving credit borrowings, and any other warehouse line of credit together with any other replacements or other revolving credit or loan repurchase agreement and any related notes, guarantees, collateral documents, instruments and agreements executed in connection with any thereof or otherwise created for any Subsidiary or Securitization Subsidiary of the Company, and in each case as amended, increased, supplemented, extended, modified, renewed, refunded, replaced or refinanced from time to time, and in addition any repurchase agreement entered into by the Company or any of its Subsidiaries for the purpose of receiving cash to fund mortgage lending operations pending the sale or securitization of loans.
Sample 1

Related to Warehouse Lines of Credit

  • Warehouse Lender means any lender providing financing to Seller for the purpose of warehousing, originating or purchasing a Mortgage Loan, which lender has a security interest in such Mortgage Loan to be purchased by Purchaser.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Letter of Credit Collateral has the meaning specified in Section 6.02(b).

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Letter of Credit Liability means, without duplication, at any time and in respect of any Letter of Credit, the sum of (a) the undrawn face amount of such Letter of Credit, plus (b) the aggregate unpaid principal amount of all Reimbursement Obligations of Borrower at such time due and payable in respect of all drawings made under such Letter of Credit.

  • Letter of Credit Liabilities means, for any Lender and at any time, such Lender’s ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Letter of Credit Limit means $5,000,000.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Credit Line as defined in Section 2.1.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.