Loan Limits Sample Clauses

Loan Limits. The original principal balance of each Loan Group 1 Mortgage Loan is within Freddie Mac's dollar amount limits for conforming one- to four-fa▇▇▇▇ ▇▇rtgage Loans. No Group 1 Mortgage Loan contains a first lien mortgage that, at origination, exceeded the applicable loan limits specified below. The current limits are as follows: --------------------------------------------------------------------- Number of Units Maximum Original Loan Amount of First Mortgage --------------------------------------------------------------------- Continental United Alaska, Guam, Hawaii or States or Puerto Rico Virgin Islands --------------------------------------------------------------------- 1 $417,000 $625,500 --------------------------------------------------------------------- 2 $533,850 $800,775 --------------------------------------------------------------------- 3 $645,300 $967,950 --------------------------------------------------------------------- 4 $801,950 $1,202,925 ---------------------------------------------------------------------

Loan Limits. (i) No first lien Mortgage Loan has an original principal balance that exceeds the applicable F▇▇▇▇▇▇ Mac loan limit (as in effect on the Closing Date); (ii) With respect to any subordinate lien Mortgage Loan, (A) such lien is on a one- to four-family residence that is the principal residence of the borrower; (B) has an original principal balance that exceeds one-half of the one-unit limitation for first lien mortgage loans, i.e., $208,500 (in Alaska, Guam, Hawaii or Virgin Islands: $312,750), without regard to the number of units; and (C) the original principal balance of the related first lien mortgage loan plus the original principal balance of subordinate lien Mortgage Loan does not exceed the applicable F▇▇▇▇▇▇ Mac loan limit for first lien mortgage loans for that property type (as in effect on the Closing Date). UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS AN INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND CERTAIN OTHER ASSETS. EACH OWNER OF AN THIS CERTIFICATE OR ANY INTEREST THEREIN WILL (I) BE DEEMED TO HAVE REPRESENTED, BY VIRTUE OF ITS ACQUISITION OR HOLDING OF THIS CERTIFICATE OR INTEREST THEREIN, THAT IT IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR SIMILAR LAW (COLLECTIVELY, A “PLAN”), NOR A PERSON ACTING FOR, ON BEHALF OF OR WITH THE ASSETS OF, ANY SUCH PLAN OR (II) PROVIDE THE TRUST ADMINISTRATOR WITH AN OPINION OF COUNSEL ON WHICH THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE SERVICER ...

Loan Limits. The original principal balance of each Loan Group 1 Mortgage Loan is within Freddie Mac's dollar amount limits for conforming one- to four-fa▇▇▇▇ ▇▇rtgage Loans. No Group 1 Mortgage Loan contains a first lien mortgage that, at origination, exceeded the applicable loan limits specified below. The current limits are as follows: ------------------------------------------------------------------------------------------------------------ Number of Units Maximum Original Loan Amount of First Lien Maximum Original Loan Amount of Subordinate Mortgage Lien Mortgage ------------------------------------------------------------------------------------------------------------ Continental United Alaska, Guam, Continental United Alaska, Guam, Hawaii States or Puerto Rico Hawaii or States or Puerto Rico or Virgin Islands Virgin Islands ------------------------------------------------------------------------------------------------------------ 1 $417,000 $625,500 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------ 2 $533,850 $800,775 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------ 3 $645,300 $967,950 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------ 4 $801,950 $1,202,925 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------

Loan Limits. With respect to each Group 1 Mortgage Loan, the original principal balance of each such Mortgage Loan is within ▇▇▇▇▇▇▇ Mac’s dollar amount limits for conforming one- to four-family mortgage loans.

Loan Limits. Subject to the terms of any Investment Arrangement, the default loan policy under Section 13.03 of the Plan allows Participants to take a loan provided all outstanding loans do not exceed 50% of the Participant’s vested Account Balance. To override the default loan policy to allow loans up to $10,000, even if greater than 50% of the Participant’s vested Account Balance, check this AA §B-4. 🗹 A Participant may take a loan equal to the greater of $10,000 or 50% of the Participant's vested Account Balance. [Note: If this AA §B-4 is checked, the Participant may be required to provide adequate security as required under Section

Loan Limits. The loan amount must meet all of the following limits, as determined as of the date the loan is processed, and shall be determined as follows:

Loan Limits. The obligation of the Lender to make any Loan hereunder (including the initial Loan) is further subject to the condition that the outstanding principal amount of all Loans after giving effect to such Loan shall not exceed the applicable limits set forth in Section 2.1.

Loan Limits. No loan to any Participant can be made to the extent that such loan when added to the outstanding balance of all other loans to the Participant would exceed the lesser of (a) $50,000 reduced by the excess (if any) of the highest outstanding balance of loans during the one year period ending on the day before the loan is made, over the outstanding balance of loans from the Plan on the date the loan is made, or (b) 1/2 the present value of the Participant's Account. Furthermore, any loan shall by its terms require that repayment (principal and interest) be amortized in level payments, not less frequently than quarterly, over a period not extending beyond five years from the date of the loan, unless such loan is used to acquire a dwelling unit which within a reasonable time will be used as the principal residence of the Participant.

Loan Limits. The original principal balance of each Loan Group 1 Mortgage Loan is within Freddie Mac's dollar amount limits for conforming one- to four-fam▇▇▇ ▇▇▇tgage Loans. No Group 1 Mortgage Loan contains a first lien mortgage that, at origination, exceeded the applicable loan limits specified below. The current limits are as follows: ----------------- ----------------------------------------------------------- Number of Units Maximum Original Loan Amount of First Mortgage ----------------- ----------------------------------------------------------- Continental United States or Alaska, Guam, Hawaii or Puerto Rico Virgin Islands ----------------- ------------------------------- --------------------------- 1 $417,000 $625,500 ----------------- ------------------------------- --------------------------- 2 $533,850 $800,775 ----------------- ------------------------------- --------------------------- 3 $645,300 $967,950 ----------------- ------------------------------- --------------------------- 4 $801,950 $1,202,925 ----------------- ------------------------------- --------------------------- It is understood and agreed that the representations and warranties set forth in Sections 6 and 7 shall survive delivery of the respective mortgage loan documents to the Assignee or its designee and shall inure to the benefit of the Assignee and its assigns notwithstanding any restrictive or qualified endorsement or assignment. Upon the discovery by the Assignor or the Assignee and its assigns of a breach of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other parties to this Assignment Agreement, and in no event later than two (2) Business Days from the date of such discovery. It is understood and agreed that the obligations of the Assignor set forth in Section 9 to repurchase or, in limited circumstances, substitute a Mortgage Loan constitute the sole remedies available to the Assignee and its assigns on their behalf respecting a breach of the representations and warranties contained in Sections 6 and 7. It is further understood and agreed that, except as specifically set forth in Sections 6 and 7, the Assignor shall be deemed not to have made the representations and warranties in Section 7(g) with respect to, and to the extent of, representations and warranties made, as to the matters covered in Section 7(g), by the Responsible Party in the Sale Agreement (or any officer's certificate delivered pursuant ...