warehouse loan agreement

Warehouse Agreement Definition: 164 Samples | Law Insider (iv) If the additional amounts to be funded by the Covering Lender(s) under clause (iii) above are not sufficient to provide the aggregate amount requested by the Borrower in the related Notice of Borrowing, the Borrower may either (i) revoke the related Notice of Borrowing and pay any amounts owed to any Lender pursuant to Section 3.04 hereof or (ii) reduce the amount of additional Loans to be added to the aggregate amount of the outstanding Loans on the related Funding Date to an amount not less than the amount necessary to cause the Borrowing Base after giving effect to the funding by the Covering Lenders contemplated by clause (iii) above, to be equal to the aggregate amount of the outstanding Loans after giving effect to the funding by the Covering Lenders contemplated by clause (iii) above, by delivery to the Administrative Agent of an updated Borrowing Base Certificate and, subject to the satisfaction of the conditions precedent set forth in Section 4.03 hereof, the requested funding of the Loan shall take place on the Business Day following the delivery of such Borrowing Base Certificate. The financial statements to be delivered to the Lenders pursuant to Section 6.01(a) and (b), if any, (i) will have been prepared in accordance with GAAP (except as may otherwise be permitted under Section 6.01(a) and (b)) and (ii) will present fairly (on the basis disclosed in the footnotes to such financial statements, if any) the consolidated financial condition, results of operations and cash flows of TILC and its consolidated Subsidiaries as of the respective dates thereof and for the respective periods covered thereby. (p) [RESERVED]. 739866994 17557858 32 Fifth Amended and Restated Warehouse Loan Agreement Liquidity Reserve Account means the Liquidity Reserve Account established by the Depositary pursuant to the Depository Agreement. In the event that a payment is made to Agent for the pro rata account of the Protected Parties entitled to such payment, the Agent shall promptly remit in same day funds to each Protected Party its share, if any, of such payments received by the Agent for the account of such Protected Party. SECTION 5.16 Environmental Matters. Upon reasonable notice and during normal business hours, each Facility Party will permit representatives appointed by the Agent or any Lender (at the expense of the Agent or such Lender, as applicable, except as set forth in the proviso hereto), including independent accountants, agents, employees, attorneys and appraisers, to visit, audit and inspect its property and operations, including its books, records, reports and other papers related to the Collateral or to its accounts receivable and inventory, its facilities and its other business assets, and to make photocopies or photographs thereof and to write down and record any information such representatives obtain and shall permit the Agent or any Lender or such representatives to investigate and verify the accuracy of information provided to the Agent or Lenders and to discuss all such matters with the officers and independent accountants and representatives of each Facility Party; provided that (i) so long as no Event of Default or Manager Event of Default or Manager Default has occurred and is continuing, the Borrower shall pay the costs and expenses incurred in connection with one such audit or inspection a year conducted at the request of the Agent or the Required Lenders and (ii) if an Event of Default or a Manager Event of Default or Manager Default shall have occurred and be continuing, the Borrower shall pay the costs and expenses of any and all such inspections conducted at the request of the Agent or the Required Lenders. The entries made in the accounts maintained pursuant to subsections (a) and (b) of this Section 2.04 shall be conclusive evidence (absent manifest error) of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender or the Agent to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. As a sovereign enterprise, eLoan personal loans are provided by a sovereign government, and the profits fund governmental services for Tribal citizens. Any provision of this Agreement and the other Loan Documents to which any Facility Party is a party that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions thereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Benchmark Transition Event means the occurrence of one or more of the following events with respect to LIBOR: (i) a public statement or publication of information by or on behalf of the administrator of LIBOR announcing that such administrator has ceased or will cease to provide LIBOR, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide LIBOR; (ii) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for LIBOR, a resolution authority with jurisdiction over the administrator for LIBOR or a court or an entity with similar insolvency or resolution authority over the administrator for LIBOR, which states that the administrator of LIBOR has ceased or will cease to provide LIBOR permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide LIBOR; or (iii) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR announcing that LIBOR is no longer representative. You cannot currently be a debtor in a bankruptcy case or intend to file for bankruptcy relief. Please declare your traffic by updating your user agent to include company specific information. Designated Severability Clause means, with respect to a Mixed Rider, language to the effect that the Mixed Rider shall constitute one or more separate and severable leases, with each such lease being comprised of railcars owned by a single person or entity, and each such lease shall incorporate the terms of the related master lease agreement and shall be separate and severable from each other lease made pursuant to such rider and from any other railcars or riders relating to such master lease agreement. This subsection (h) may not be amended without the prior written consent of each Granting Lender, all or any part of whose Loan is being funded by a Conduit Lender at the time of such amendment. Notwithstanding any provision to the contrary elsewhere herein and in the other Loan Documents, the Agent shall not have any duties or responsibilities, except those expressly set forth herein and therein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any of the other Loan Documents, or shall otherwise exist against the Agent. All computations of interest and fees hereunder shall be made on the basis of the actual number of days elapsed over a year of 360 days. SECTION 11.18 No Proceedings. 739866994 17557858 33 Fifth Amended and Restated Warehouse Loan Agreement Manager Event of Default means a Manager Event of Default as defined in the Management Agreement. The Agent may, at any time, resign upon 30 days written notice to the Lenders. Borrowers should also be aware that while eLoanWarehouse's loans can be a more affordable alternative to payday loans, they typically come with higher interest rates than traditional bank loans or credit union loans. The Borrower shall have good and marketable title to each applicable Railcar and good title to all other items of applicable Collateral, free and clear of all Liens created or incurred by it or permitted to exist by it other than Permitted Liens. In such event, the Borrower shall give the Agent a Notice of Borrowing not later than 11:00 A.M. on the second Business Day prior to the date of the proposed Funding Date, specifying: (i) the proposed Funding Date of such Borrowing, which shall be a Business Day no earlier than 5 Business Days (unless otherwise approved by the Agent) following receipt by the Agent of the Request and a complete Funding Package with respect to each Railcar; (ii) the aggregate amount of the Borrowing to be made on such Funding Date; and (iii) a description of the Eligible Railcars to be financed and the Eligible Lease(s) to be pledged on such Funding Date (which may be by cross reference to or attachment of the related Request); and attaching a pro forma Borrowing Base Certificate giving effect to all Loans requested pursuant to such Notice of Borrowing and the pledge of all Railcars and Leases to be added to the Portfolio on the proposed Funding Date. WAREHOUSE LOAN PURCHASE AGREEMENT . Bail-In Action means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. Upon consummation of an Asset Disposition permitted under and application of the proceeds thereof in accordance with this Section 7.05, the Collateral Agent shall (to the extent applicable) deliver to the Borrower, upon the Borrowers request and at the Borrowers expense, such documentation as is reasonably necessary to evidence the release of the Collateral Agents security interests, if any, in the assets being disposed of, including amendments or terminations of Uniform Commercial Code Financing Statements, if any. SECTION 5.09 Taxes. (a) Payments Net of Certain Taxes. (c) Computations. It is positioned as a more affordable alternative to payday loans and can be a useful option for people with less-than-perfect credit who need access to cash quickly. Custody Account means the Custody Account established by the Depositary pursuant to the Depository Agreement. Not later than the second Business Day prior to each Settlement Date, a Borrowing Base Certificate as of the end of the immediately preceding calendar month, substantially in the form of Exhibit A-6 hereto and certified by a Responsible Officer of each Facility Party to be true and correct as of the date thereof.
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