Swing Line Refunding Due Date definition
Swing Line Refunding Due Date for each Transaction funded under the Swing Line means the Business Day on which U.S. Bank shall elect to have such Swing Line Transaction funded by the Buyers pursuant to Section 2.5 (provided that U.S. Bank shall elect to have such Swing Line Transactions so funded no less than one time per week) following the Business Day when U.S. Bank funds such Transaction under the Swing Line; provided that U.S. Bank agrees not to exercise such discretion to choose a due date in a manner that would materially affect the Seller’s ability to complete a Transaction under this Agreement unless a Default has occurred that has not been cured by the Seller or declared in writing by the Administrative Agent to have been waived or any Event of Default has occurred that the Administrative Agent has not declared in writing to have been cured or waived, in each case, as provided in Section 22.
Swing Line Refunding Due Date for each Transaction funded under the Swing Line means the Business Day on which the Swing Line Buyer shall elect to have such Swing Line Transaction funded by the Buyers pursuant to Section 2.5, or on the next Business Day thereafter if the Buyers are notified of such request after 3:00 p.m. (Houston, Texas time) on such Business Day, provided that the Swing Line Refunding Due Date shall occur not less frequently than once per week. “Swing Line Transaction” means a Transaction funded by the Swing Line Buyer under the Swing Line. “Tangible Net Worth” means, with respect to any Person on any day, the sum of total shareholders’ or members’ equity in such Person (including capital stock or member interests, additional paid-in capital and retained earnings, but excluding treasury stock, if any), each as determined in accordance with GAAP on a consolidated basis; provided that, for purposes of this definition, there shall be excluded from assets the following: the aggregate book value of all intangible assets of such Person (as determined in accordance with GAAP), including goodwill, trademarks, trade names, service marks, copyrights, patents, licenses, franchises, capitalized servicing rights, excess capitalized servicing rights, each to be determined in accordance with GAAP consistent with those applied in the preparation of such Person’s financial statements; advances or loans to shareholders or Affiliates, advances or loans to employees (unless such advances are against future commissions), unconsolidated investments in Affiliates, deferred tax assets, assets pledged to secure any liabilities not included in the Debt of such Person. “Taxes” is defined in Section 7.1. “Term SOFR Administrator” means the CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Screen Rate selected by the Agent in its reasonable discretion). “Term SOFR Administrator’s Website” means the website of the Term SOFR Administrator, currently at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/market-data/cme-group-benchmark- administration/term-sofr.html, or any successor source for the secured overnight financing rate identified as such by the Term SOFR Administrator from time to time. “Term SOFR Screen Rate” means the CME Term SOFR Reference Rates, as administered by the Term SOFR Administrator and published on the applicable screen page (or such other commercially available source providing such rate or quotations as may be designated by Agent from time to time) on...
Swing Line Refunding Due Date for each Transaction funded under the Swing Line means the Business Day on which the Swing Line Buyer shall elect to have such Swing Line Transaction funded by the Buyers pursuant to Section 2.5, or on the next Business Day thereafter if the Buyers are notified of such request after 3:00 p.m. (Houston, Texas time) on such Business Day, provided that the Swing Line Refunding Due Date shall occur not less frequently than once per week.
Examples of Swing Line Refunding Due Date in a sentence
The distribution from the Agent to each Buyer shall be made by the Agent’s initiating a federal funds wire transfer by 3:00 p.m. (Houston, Texas time) on such Swing Line Refunding Due Date, in immediately available funds directly to such Buyer or to such account at another financial institution as is designated from time to time by such Buyer in writing.
All Price Differential accrued on Swing Line Transactions through the applicable Swing Line Refunding Due Date shall be due and payable by the Seller to the Agent (for distribution to the Swing Line Buyer) no later than two (2) Business Days after the applicable Swing Line Refunding Due Date, but in no than event later the Termination Date.
The Agent shall distribute all payments of Repurchase Price (whether voluntary or involuntary and from whatever source) received to the Buyers Pro Rata with their respective ownership interests in the Purchased Loans on the next Swing Line Refunding Due Date.
More Definitions of Swing Line Refunding Due Date
Swing Line Refunding Due Date for each Transaction funded under the Swing Line means the Business Day on which the Swing Line Buyer shall elect to have such Swing Line Transaction funded by the Buyers pursuant to Section 2.5, or on the next Business Day thereafter if the Buyers are notified of such request after 3:30 p.m. (Detroit, Michigan time) on such Business Day, provided that the Swing Line Refunding Due Date shall occur not less frequently than once per week. “Swing Line Transaction” means a Transaction funded by the Swing Line Buyer under the Swing Line. “Taxes” is defined in Section 7.1. “Termination Date” means (a) the earlier to occur of July 28, 2022 or (b) the date when the Buyer’s Commitments are terminated pursuant to this Agreement, by order of any Governmental Authority or by operation of law. “Total Liabilities” means all liabilities of the Seller and its Subsidiaries, including nonrecourse debt and also including all contingent liabilities and obligations (including Recourse Servicing, recourse sale and other recourse obligations, and guaranty, indemnity and mortgage loan repurchase obligations), in each case as are reflected on the Seller’s Consolidated balance sheet as liabilities in accordance with GAAP, but excluding Qualified Subordinated Debt. “Transaction” is defined in the Recitals. “Transfer of Control” means, with respect to an eNote, a MERS eRegistry transfer transaction used to request a change to the current Controller of such eNote. “Transfer of Control and Location” means, with respect to an eNote, a MERS eRegistry transfer transaction used to request a change to the current Controller and Location of such eNote. “Transfer of Location” means, with respect to an eNote, a MERS eRegistry transfer transaction used to request a change to the current Location of such eNote. “Transferable Record” shall mean a “transferable record” as defined in Section 16 of UETA or Section 201 of E-SIGN, as applicable that (i) would be a “note” under Article 3 of the UCC if the transferable record were in writing, (ii) the issuer of the electronic record has expressly agreed is a “transferable record”, (iii) bears an “electronic signature” as such term is
Swing Line Refunding Due Date for each Transaction funded under the Swing Line shall mean one (1) Business Day following the Business Day when TIAA funds such Transaction under the Swing Line.
Swing Line Refunding Due Date for each Transaction funded under the Swing Line means the Business Day on which the Swing Line Buyer shall elect to have such Swing Line Transaction funded by the Buyers pursuant to Section 2.5, or on the next Business Day thereafter if the Buyers are notified of such request after 3:30 p.m. (Detroit, Michigan time) on such Business Day, provided that the Swing Line Refunding Due Date shall occur not less frequently than once per week. “Swing Line Transaction” means a Transaction funded by the Swing Line Buyer under the Swing Line. “Taxes” is defined in Section 7.1. 29 Bodman_16842095_7
Swing Line Refunding Due Date for each Transaction funded under the Swing Line means the Business Day on which the Swing Line Buyer shall elect to have such Swing Line Transaction funded by the Buyers pursuant to Section 2.5, or on the next Business Day thereafter if the Buyers are notified of such request after 3:00 p.m. (Houston, Texas time) on such Business Day, provided that the Swing Line Refunding Due Date shall occur not less frequently than once per week. “Swing Line Transaction” means a Transaction funded by the Swing Line Buyer under the Swing Line. “Tangible Net Worth” means, with respect to any Person on any day, the sum of total shareholders’ or members’ equity in such Person (including capital stock or member interests, additional paid-in capital and retained earnings, but excluding treasury stock, if any), each as determined in accordance with the Approved Accounting Method on a consolidated basis; provided that, for purposes of this definition, there shall be excluded from assets the following: (a) the aggregate book value of all intangible assets of such Person (as determined in accordance with the Approved Accounting Method), including goodwill, trademarks, trade names, service marks, copyrights, patents, licenses and franchises, (b) capitalized servicing rights and excess