Balloon Payments Sample Clauses

Balloon Payments. No Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than seven (7) years;
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Balloon Payments. Except as reflected on Schedule 2 hereof, as of the Closing Date, there are no balloon payments, scheduled balloon amortizing payments or scheduled amortizing payments required to be paid at any time in respect of any Indebtedness (other than Permissible Assumed Indebtedness) of the Borrower or its Subsidiaries.
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Balloon Payments. Federal Home Loan Bank Board regulations restricting the use of a balloon payment shall not apply to a loan, mortgage, advance, or cred- it sale to which this section applies. (Pub. L. 97–320, title III, § 341, Oct. 15, 1982, 96 Stat. 1505; Pub. L. 98–181, title I [title IV, § 473], Nov. 30, 1983, 97 Stat. 1237.) Editorial Notes Codification Section was enacted as part of the Thrift Institutions Restructuring Act and also as part of the Xxxx-St Ger- main Depository Institutions Act of 1982, and not as part of the National Housing Act which comprises this chapter. Amendments 1983—Subsec. (d). Pub. L. 98–181 substituted ‘‘With re- spect to a real property loan secured by a lien on resi- dential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender’’ for ‘‘A lender’’. Statutory Notes and Related Subsidiaries Transfer of Functions Federal Home Loan Bank Board abolished and func- tions transferred, see sections 401 to 406 of Pub. L. 101–73, set out as a note under section 1437 of this title. Executive Documents Termination of Trust Territory of the Pacific Islands For termination of Trust Territory of the Pacific Is- lands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.
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Balloon Payments. The City will not issue any TIF Bonds which qualify as Balloon Indebtedness, as defined in the following sentence. Balloon Indebtedness shall mean any series of TIF Bonds, twenty-five percent (25%) or more of the original principal of which is to be paid during one fiscal year; provided such term excludes: (a) a series of TIF Bonds maturing within one year of its date of issue, or (b) a series of TIF Bonds which is payable over its term in approximately level amounts (i.e., not varying by more than 10% from highest to lowest) of principal and interest in each fiscal year.
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Balloon Payments. Any Indebtedness of the Company (which shall, in any event, be subject to the limitations contained in Section 6.6(viii) of this agreement) which is not fully amortized in equal payments over a period of not more than 30 years, shall have a maturity date (due date) which is not earlier than ten years after the date of the original purchase of the underlying property. The Company may not incur indebtedness of any kind, including all-inclusive and wrap-around loans and interest-only loans, in connection with the purchase of a Property. The provisions of this Section 6.11 shall not apply (but the provisions of section 6.6(viii) shall apply) to indebtedness representing, in the aggregate, 10% or less of the total purchase price of all Properties acquired, or to interim financing, including construction financing, with a full take- out commitment.
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Balloon Payments. To keep payments artificially low, a balloon payment may be required at some point during the loan. For example, a ten year loan might have 119 very affordable payments followed by a single (balloon) payment that is equal to the full amount of the funds borrowed. At the point that the balloon payment is due, the borrower is forced to refinance or lose the home. Balloon payments can work in situations where it is anticipated that the borrower will have developed substantial equity in the home by the time the payment is due and where the borrower’s income is likely to improve.
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Balloon Payments. Household shall provide borrowers with a new loan disclosure form, substantially in the form of Appendix A, that more clearly informs borrowers of real estate secured revolving lines of credit in plain language, that making minimum payments will not fully amortize the loan by the end of its term and will result in a balloon payment at the end of the term. The disclosure will also state the full amount of the balloon payment and the monthly payment required to pay off the loan by the end of the term if no further advances other than any initial advance are taken.
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Balloon Payments. At Closing, the Company shall not be ---------------- obligated under any balloon or other extraordinary payments due or payable (or paid) by the Company, Parent or Sub as severance, change-of-control or other "parachute" provisions.
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Related to Balloon Payments

  • Monthly Payments On or before each Transfer Date, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit B hereto) to withdraw and the Trustee, acting in accordance with such instructions, shall withdraw on such Transfer Date or the related Distribution Date, as applicable, to the extent of available funds, the amounts required to be withdrawn from the Finance Charge Account, the Principal Account, the Principal Funding Account and the Distribution Account as follows:

  • Monthly Payment City shall make monthly payments, based on invoices received, for services satisfactorily performed, and for authorized reimbursable costs incurred. City shall have 30 days from the receipt of an invoice that complies with all of the requirements above to pay Consultant.

  • Scheduled Payments As of the Cutoff Date, each Receivable had a first scheduled due date on or prior to the end of the third month immediately following the Cutoff Date.

  • Loan Payments The Loan and interest thereon shall be payable pursuant to the terms of the Note.

  • Past Due Payments Provide the grace period (number of days) before a late charge is due if the tenant is late with rent payments. Specify whether the late charge will be a percentage of the monthly rent or a dollar amount per day. 15.

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Scheduled Payments of Term Loans Borrower shall make principal payments on the Term Loans in installments on the dates and in the amounts set forth below: Date Scheduled Payment June 30, 2001 $1,250,000 September 30, 2001 $1,250,000 December 31, 2001 $1,250,000 March 31, 2002 $1,250,000 June 30, 2002 $1,875,000 September 30, 2002 $1,875,000 December 31, 2002 $1,875,000 March 31, 2003 $1,875,000 June 30, 2003 $2,500,000 September 30, 2003 $2,500,000 December 31, 2003 $2,500,000 March 31, 2004 $2,500,000 June 30, 2004 $3,125,000 September 30, 2004 $3,125,000 December 31, 2004 $3,125,000 March 31, 2005 $3,125,000 June 30, 2005 $32,500,000 September 30, 2005 $32,500,000 December 31, 2005 $32,500,000 March 31, 2006 $32,500,000 ============ Total $165,000,000 ; provided that the scheduled installments of principal of the Term Loans set forth above shall be reduced in connection with any voluntary or mandatory prepayments of the Term Loans in accordance with subsection 2.4B(iv); and provided, further that the Term Loans and all other amounts owed hereunder with respect to the Term Loans shall be paid in full no later than March 31, 2006, and the final installment payable by Borrower in respect of the Term Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Term Loans.

  • Payment Due Payment for services provided will be due on or before the next xxxx date (i.e., same date in the following month as the xxxx date) and is payable in immediately available funds. Payment is considered to have been made when received by BellSouth.

  • Cumulative Prepayments Except as otherwise expressly provided in this Section 2.05, payments with respect to any subsection of this Section 2.05 are in addition to payments made or required to be made under any other subsection of this Section 2.05.

  • Prepayment Charges The Master Servicer will not waive any part of any Prepayment Charge unless the waiver relates to a default or a reasonably foreseeable default, the Prepayment Charge would cause an undue hardship to the related borrower, the Mortgaged Property is sold by the Mortgagor, the collection of any Prepayment Charge would violate any relevant law or regulation or the waiving of the Prepayment Charge would otherwise benefit the Trust Fund and it is expected that the waiver would maximize recovery of total proceeds taking into account the value of the Prepayment Charge and related Mortgage Loan and doing so is standard and customary in servicing similar Mortgage Loans (including any waiver of a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is related to a default or a reasonably foreseeable default). The Master Servicer will not waive a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is not related to a default or a reasonably foreseeable default.

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