Outstanding Loan Balance definition

Outstanding Loan Balance means the principal amount of your full-time Direct Loans outstanding at any time, including any Canada Student Grant amount(s) converted to a Direct Loan, together with all interest on those amounts.

Outstanding Loan Balance means with respect to any Loan, the then outstanding principal balance thereof, provided, however, that with respect to Current Pay Loans, the “Outstanding Loan Balance” of such Loans shall be equal to 70% of the outstanding principal balance thereof.

Outstanding Loan Balance means for any Loan Asset, for any date of determination, an amount equal to the Assigned Value of such Loan Asset at such time multiplied by the Outstanding Principal Balance of such Loan Asset; provided that the parties hereby agree that the Outstanding Loan Balance of any Loan Asset that is no longer an Eligible Loan Asset shall equal zero.

Examples of Outstanding Loan Balance in a sentence

• If you return to Full-Time Student Status after you have reached the maximum number of weeks, you will not be required to start making payments on your Outstanding Loan Balance until the Payment Trigger Date, but you may not be eligible for certain Financial Assistance.

• All your rights and obligations under the MSFAA-Canada in respect of your Outstanding Loan Balance will terminate upon your death.

• If you decide that you do not want to accept the amended Terms and Conditions of the MSFAA-Canada, you must advise Canada of your refusal by contacting the NSLSC in writing at National Student Loans Service Centre, P.O. Box 4030, Mississauga, ON, L5A 4M4, within 90 days of the date of posting of the amendments, at which time you may be denied further Financial Assistance or payment-deferred status, or be required to immediately pay all or part of your Outstanding Loan Balance.

• You may pay all or any part of your Outstanding Loan Balance at any time without notice, penalty or bonus.

• If your educational institution owes you a refund of tuition fees paid to the educational institution, Ontario may instruct the institution to refund to Ontario any portion of such fees that have been paid with the proceeds of your Ontario Student Grant, Ontario Learn and Stay Grant or Ontario Student Loan for credit against your Outstanding Loan Balance, if any, or any amount owing as a result of a reassessment described in Part D, section 9.

More Definitions of Outstanding Loan Balance

Outstanding Loan Balance means the amount that the Borrower owes the Bank for the portion of the Loan that has been disbursed.

Outstanding Loan Balance means, with respect to a Loan, as of any date of determination, the sum of the total remaining amounts of principal payable as of such time by the Obligor thereunder, exclusive of (a) interest payments and (b) capitalized interest amounts, it being understood that any principal previously covered by a Servicer Advance will be excluded from principal amounts payable for purposes of this definition.

Outstanding Loan Balance means the current net amount of money owed by the borrower to the lender whether or not that sum is suspended pursuant to the terms of the reverse mortgage loan agreement or is immediately due and payable. The outstanding loan balance is calculated by adding the current totals of the items described in clauses (1) to (5) and subtracting the current totals of the item described in clause (6):

Outstanding Loan Balance of a Loan means, with respect to any date of determination, the outstanding principal amount of such Loan.

Outstanding Loan Balance means the principal amount of your full-time Direct Loans outstanding at any time, together with all interest on this amount.

Outstanding Loan Balance means the principal amount of your Ontario Student Loans outstanding at any time on or after the date of this MSFAA-Ontario and includes Ontario Student Grants that are converted into Ontario Student Loans together with all interest owing on this amount.

Outstanding Loan Balance means with respect to any Loan, the lower of (a) the Fair Value of such Loan not to exceed the Borrower’s cost basis with respect to such Loan (including any original issue discount, if any) and (b) the then outstanding principal balance thereof. For the avoidance of doubt, the “Outstanding Loan Balance” shall exclude any accrued PIK Interest and end of term optional payments.