Spec Units. Each Spec Unit may be included in Eligible Collateral for not more than twelve (12) Calendar Months from the original Unit Eligibility Date for such Unit.
Appears in 2 contracts
Sources: Borrowing Base Revolving Line of Credit Agreement (William Lyon Homes), Borrowing Base Revolving Line of Credit Agreement (William Lyon Homes)
Spec Units. Each Spec Unit may be included in Eligible Collateral for not more than twelve (12) 12 Calendar Months from the Unit Eligibility Date for such Unit. In no event may a Spec Unit be included in Eligible Collateral for more than 12 Calendar Months from the original Unit Eligibility Date for such Unit.
Appears in 1 contract
Sources: Udc Master Revolving Line of Credit Loan Agreement (Borrowing Base) (Udc Homes Inc)