ARMs Clause Samples
The ARMs (Adjustable Rate Mortgages) clause defines the terms under which the interest rate on a mortgage loan may change over time. Typically, this clause outlines the initial fixed-rate period, the frequency and limits of rate adjustments, and the index used to determine future rates. For example, an ARM might start with a low fixed rate for five years, after which the rate adjusts annually based on a published index plus a margin. The core function of this clause is to clarify how and when interest rates may change, helping both lenders and borrowers understand the potential for payment fluctuations and manage the associated risks.
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ARMs o Seller to provide Purchaser a listing of all ARM loans in the transfer.
ARMs. No person shall be allowed to carry or possess arms in the Old City, with the exception of the Police Forces provided for in this agreement. In addition, each Party may grant special written permission to carry or possess arms in areas under its sovereignty.
ARMs. Seller to provide Purchaser a listing of all ARM loans in the transfer. · For each Adjustable Rate Mortgage in the sale portfolio, Seller shall provide the following information at Transfer Date: (i) Copies of all Notes and Riders (including applicable modifications and addendums/exhibits); (ii) Copies of all adjustment notifications; (iii) Copies of payment transaction history. · For each ARM loan having an interest rate change date within 30 days of the Transfer Date, Seller warrants that they have made the appropriate adjustments and notified the borrower of same in accordance with the Note and applicable state and federal guidelines.
ARMs. 2.6.1. The arms are shown as part No. 6 in figure 1 of this annex.
2.6.2. The arms have a plastic skeleton covered by a polyurethane "flesh" and a PVC skin.
2.6.3. The shoulder/arm joint allows for discrete arm positions at 0°, 40° and 90° to the torso line.
2.6.4. The shoulder/arm joint allows for a flexion/extension rotation only.
ARMs. The Servicer shall enforce each ARM in accordance with its terms and shall timely calculate, record, report and apply all interest rate adjustments in accordance with the related Promissory Note. The Servicer's records shall, at all times, reflect the then Loan Interest Rate and monthly payment and the Servicer shall timely notify the Borrower of any changes to the Loan Interest Rate or the Borrower's monthly payment. If the Servicer fails to make either a timely or accurate adjustment to the Loan Interest Rate or monthly payment or to notify the Borrower of such adjustments, the Servicer shall pay from its own funds any shortage. If the Servicer's failure to make a scheduled change affects the Trust's rights to make future adjustments under the terms of the ARM, the Servicer shall purchase the ARM, in accordance with the provisions of the last sentence of Section 3.08(b). Any amounts paid by the Servicer pursuant to this Section shall not be an advance and shall not be reimbursable from the proceeds of any Loan.
ARMs. The Servicer shall enforce each ARM and 5/1 ARM ---- Mortgage Loan in accordance with its terms and shall or shall cause the applicable Subservicers to timely calculate, record, report and apply all interest rate adjustments in accordance with the related Mortgage Note. The Servicer's records shall, at all times, reflect the then Coupon Rate and monthly payment and the Servicer shall or shall cause the applicable Subservicers to timely notify the Mortgagor of any changes to the Coupon Rate or the Mortgagor's monthly payment.
ARMs. 7/1 ARMs, and 10/1 ARMs (▇▇▇▇▇▇ Mae's standard ARM plans); or
ARMs. 2.2.1. The driver's upper arms shall be adjacent to the torso with the centrelines as close to a vertical plane as possible.
2.2.2. The passenger's upper arms shall be in contact with the seat back and the sides of the torso.
ARMs. A Home Equity Loan the Mortgage Rate of which adjusts on each Change ---- Date by reference to the applicable Mortgage Index, subject to the applicable Periodic Rate Cap, Lifetime Floor and Lifetime Cap.
ARMs. (a) The Servicer shall enforce each ARM and Convertible ARM in accordance with its terms and shall timely calculate, record, report and apply all interest rate adjustments in accordance with the related Mortgage Note. The Servicer's records shall, at all times, reflect the then Loan Rate and monthly payment and the Servicer shall timely notify the Mortgagor of any changes to the Loan Rate or the Mortgagor's monthly payment. If the Servicer fails to make either a timely or accurate adjustment to the Loan Rate or monthly payment or to notify the Mortgagor of such adjustments, the Servicer shall pay from its own funds any shortage. If the Servicer's failure to make a scheduled change affects the Issuer's rights to make future adjustments under the terms of the ARM or Convertible ARM, the Servicer shall repurchase the ARM or Convertible ARM in accordance with the provisions of the last sentence of Section 4.13(f). Any amounts paid by the Servicer pursuant to this Section shall not be an advance and shall not be reimbursable from the proceeds of any Home Equity Loan.
(b) The Indenture Trustee, as the holder of the Mortgage Notes, hereby authorizes and directs the Servicer, on behalf of the Indenture Trustee, to determine the fixed rates into which Mortgagors having Convertible ARMs may convert the adjustable rates on their Mortgage Notes upon compliance with the terms thereof. The Servicer agrees to determine such rates, and otherwise administer the program as contemplated in the Mortgage Notes for the Convertible ARMS.