Eligible Balances definition

Eligible Balances means all funds of or maintained by Borrower (and, if applicable, Borrower's Subsidiaries) in demand deposit or time deposit accounts at a Designated Bank, minus balances to support float, reserve requirements and any other reductions that may be imposed by governmental authorities from time to time.

Eligible Balances means, for any calendar day and Lender, the sum (which for any day that is not a Business Day is deemed for this definition to be that sum as determined as of the close of business on the preceding Business Day) of collected balances as of the close of business on that day in all identified non- interest bearing demand deposit accounts or money market zero reserve accounts of or maintained by Co-Borrowers with such Lender.

Eligible Balances means all funds of or maintained by the Company and its ----------------- Subsidiaries in accounts at a Designated Bank, less balances to support float, reserve requirements, and such other reductions as may be imposed by governmental authorities from time to time.

Examples of Eligible Balances in a sentence

• Upon the giving of such Notice, the obligation of such Lender to charge interest at the Balance Funded Rate based on Borrowers’ Eligible Balances shall be immediately suspended for the duration of such illegality and with respect to Advances bearing interest at the Balance Funded Rate, each such Advance of such Lender shall bear interest at the applicable Interest Rate described in Exhibit H.

• Upon the giving of such Notice, the obligation of such Lender to charge interest at the Balance Funded Rate based on Borrowers' Eligible Balances shall be immediately suspended for the duration of such illegality and with respect to Advances bearing interest at the Balance Funded Rate, each such Advance of such Lender shall bear interest at the applicable Interest Rate described in Exhibit H.

• Borrower shall maintain at a Designated Bank, so long as the Warehousing Commitment is outstanding, Eligible Balances in an average amount during any Calendar Quarter not less than $10,000,000 with respect to which Lender receives a Depository Benefit.

• Upon the giving of such Notice, the obligation of such Lender to charge interest at the Balance Funded Rate based on Borrower's Eligible Balances shall be immediately suspended for the duration of such illegality and with respect to Advances bearing interest at the Balance Funded Rate, each such Advance of such Lender shall bear interest at the applicable Interest Rate described in Exhibit H or Exhibit I, as applicable.

• For any period in which such Eligible Balances are not kept, Borrower, as Bank's sole and exclusive remedy therefor, will pay a fee calculated at a rate of one percent (1%) per annum, calculated based on the difference between the minimum Eligible Balance requirement and the actual average daily Eligible Balances during the period.

More Definitions of Eligible Balances

Eligible Balances means all funds of or maintained by Borrower (and, if applicable, Borrower's Subsidiaries) in demand deposit or time deposit accounts at a Designated Bank, minus balances to support float, reserve requirements and any other reductions that may be imposed by governmental authorities from time to time. "Eligible Loan" means a Single Family Mortgage Loan that satisfies the conditions and requirements set forth in Exhibit H. "Eligible Mortgage Pool" means a Mortgage Pool for which (a) an Approved Custodian has issued its initial certification, (b) there exists a Purchase Commitment covering the Agency Security to be issued on the basis of that certification and (c) the Agency Security will be delivered to Lender. "Equity Interests" means all shares, interests, participations or other equivalents, however, designated, of or in a Person (other than a natural person), whether or not voting, including common stock, membership interests, warrants, preferred stock, convertible debentures and all agreements, instruments and documents convertible, in whole or in part, into any one or more of the foregoing. "ERISA" means the Employee Retirement Income Security Act of 1974 and all rules and regulations promulgated under that statute, as amended, and any successor statute, rules, and regulations. "ERISA Affiliate" means any trade or business (whether or not incorporated) that is a member of a group of which Borrower is a member and that is treated as a single employer under Section 414 of the Internal Revenue Code. "Event of Default" means any of the conditions or events set forth in Section 10.1. "Excess Buydown" has the meaning set forth in Section 3.4. "Exchange Act" means the Securities Exchange Act of 1934 and all rules and regulations promulgated under that statute, as amended, and any successor statute, rules and regulations. "Exclusionary List" means the list by that name published and updated periodically by Lender on the xxx.xxxxxxxxxxxxxxxxxxxxxx.xxx website. "Exhibit B" means Exhibit B, as applicable to the type of Eligible Loan against which a Warehousing Advance is to be made. "Existing Agreement" means the Warehousing Credit and Security Agreement dated as of August 1, 2003, as amended, between Borrower and Lender. "Fair Market Value" means, at any time for an Eligible Loan or a related Pledged Security (if the Eligible Loan is to be used to back a Pledged Security) as of any date of determination, the market price for such Eligible Loan or Pledged Securit...

Eligible Balances means, for any calendar day, the sum (which for any day that is not a Business Day is deemed for this definition to be that sum as determined as of the close of business on the preceding Business Day) of collected balances as of the close of business on that day in all identified non-interest bearing demand deposit accounts of or maintained by Borrowers with the Bank.

Eligible Balances. Home Equity Loan," "Maturity Date," "Mortgage," "Mortgage Note Amount," "Nonconforming Mortgage Loan" and "Second Mortgage Loan" in their entirety, replacing them with the following definitions:

Eligible Balances means, for any calendar day and any Depositary, the sum (which for any day that is not a Business Day is deemed for this definition to be that sum as determined as of the close of business on the preceding Business Day) of collected balances as of the close of business on that day in all identified non-interest bearing demand deposit accounts or money market zero reserve accounts of or maintained by Borrower with that Depositary. "ELIGIBLE-COMMITTED-B/C-PAPER LOAN" is defined in SCHEDULE 4.1.

Eligible Balances. Fair Market Value," "Home Equity Loan," "Maturity Date," "Mortgage," "Mortgage Note Amount," "Second Mortgage Loan" and "Warehousing Advance" in their entirety, replacing them with the following definitions:

Eligible Balances. High LTV Mortgage Loan," "Home Equity Loan," "`Maturity Date," "Mortgage," "Mortgage Note Amount'. and "Warehousing Promissory Note" in their entirety, replacing them with the following definitions:

Eligible Balances added in Third Amendment (2/24/96) pg. 2.