MORTGAGE RATE Sample Clauses

The Mortgage Rate clause defines the specific interest rate that will be applied to the principal balance of a mortgage loan. This clause typically outlines whether the rate is fixed or variable, how and when it may change, and any conditions that affect its calculation, such as adjustments based on market indices or borrower creditworthiness. By clearly stating the applicable interest rate and its terms, this clause ensures both parties understand the cost of borrowing and helps prevent disputes over payment amounts during the life of the loan.
MORTGAGE RATE. 25 MORTGAGOR....................................................................................................25
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MORTGAGE RATE. ‌ 5.1 Subject to Clauses 5.2, 5.4 and 5.5, each Seller, the Issuer and the Trustee grant the Administrators full right, liberty and authority from time to time, in accordance with the relevant Mortgage Conditions, to determine and set the rate or rates of interest chargeable to Borrowers. Each of the Sellers, the Issuer and the Trustee shall be bound by any rate or rates of interest set in accordance with this Agreement.‌ 5.2 The Administrators shall take the steps rendered necessary by the relevant Mortgage Conditions to bring each change in such rate or rates of interest to the attention of the Borrowers in accordance with the Mortgage Conditions and shall take similar steps to bring each such change to the attention of any relevant guarantor. Information regarding any change in the rate or rates of interest chargeable to Borrowers, shall be made available to the Issuer and the Trustee in accordance with Clause 13. 9.1. All costs arising in relation to a notification of a change in such rate or rates of interest shall be paid by the relevant Administrator and recovered from the Issuer in accordance with Clause 12 (Costs and Expenses).‌ 5.3.1 In order for the Issuer to acquire any Additional Mortgages on any Further Sale Date, the Administration Agreement will require the Administrators to determine the interest rates of the Mortgages in the Mortgage Portfolio (including any Additional Mortgages acquired by the Issuer from the Sellers on any Further Sale Date) so that the weighted average interest rate of such Mortgages is a prescribed rate minimum above LIBOR after taking into account any payments due to be made or received under the hedging arrangements, Mortgage Margin Reserve Fund and the Interest Rate Converted Mortgage Release Amounts expected on the immediately following Interest Payment Date. 5.3.2 For the purposes of this Clause 5: (a) the rate or rates of interest chargeable to Borrowers in respect of the Mortgages shall be "set" on any day on which any change in the rate or rates charged to Borrowers becomes effective in accordance with the Mortgage Conditions; and (b) the rate or rates of interest chargeable to Borrowers in respect of the Mortgages shall be "permitted to remain in effect" on each Interest Payment Date. 5.4.1 The Trustee may, in any of the circumstances described in Clause 5.4.2 and without prejudice to the rights of the Trustee under Clause 21.1, terminate the authority of the Administrators under Clause 5.1 to determine and set...
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MORTGAGE RATE. 17 MORTGAGOR...............................................................................17
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MORTGAGE RATE. 13 Mortgagor.................................................................... 13
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MORTGAGE RATE. 7.1 Subject to the terms of the Mortgage Sale Agreement, the Seller and the Issuer (as applicable) hereby grants the Servicer full right, liberty and authority from time to time, in accordance with the relevant Mortgage Conditions, to take all steps which are necessary to set the Floating Mortgage Rates in respect of the Floating Rate Loans sold by the Seller to the Issuer, which have not at the relevant date of determination been repurchased by the Seller, provided that the interest due on the Floating Rate Loans is set by reference to BBR or ▇▇▇▇▇ as determined in accordance with the relevant Mortgage Conditions. 7.2 The Servicer shall take the steps rendered necessary by the relevant Mortgage Conditions and applicable law to bring each change in Floating Mortgage Rates to the attention of the relevant Borrowers.
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MORTGAGE RATE. 4.1 The Issuer and the Trustee grant the Mortgage Manager full right, liberty and authority (and the Origination Agent acknowledges such grant) to determine and set the rate or rates of interest applicable to the Loans on each date on which such rate or rates may be re-set thereunder in accordance with the terms of such Loans and in compliance with any applicable requirements of the Financial Regulator. The Origination Agent, SF1, the Issuer and the Trustee shall be bound by any rate or rates of interest applicable to the Loans set in accordance with this Mortgage Management Agreement. 4.2 The Mortgage Manager shall, no later than two Business Days prior to the date on which any change of interest rate made in accordance with Clause 4.1 is to become effective, advise the Mortgage Administrator in writing of such change.
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MORTGAGE RATE. 32 Mortgagor...................................................................32 Net Aggregate Prepayment Interest Shortfall.................................32
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MORTGAGE RATE. 7.1 Subject to the terms of the Mortgage Sale Agreement, the Seller and the Issuer (as applicable) hereby grants the Servicer full right, liberty and authority from time to time, in accordance with the relevant Mortgage Conditions, to take all steps which are necessary to set the Standard Variable Rate (including publishing any notice which is required in accordance with the Mortgage Conditions to effect such change in the Standard Variable Rate) to a rate not less than Compounded Daily ▇▇▇▇▇ as at the previous Interest Determination Date plus 3 per cent., and for these purposes if Compounded Daily ▇▇▇▇▇ is less than zero, Compounded Daily ▇▇▇▇▇, shall be deemed to be zero. 7.2 The Servicer shall take the steps rendered necessary by the relevant Mortgage Conditions and applicable law (including the Guidance Note on Interest Variation Terms issued by the Office of Fair Trading in February 2000, the Statement of Good Practice on fairness of terms in consumer contracts issued by the FSA in May 2005 and any successor guideline or applicable additional guidelines) to bring each change in Standard Variable Rates to the attention of the relevant Borrowers. Any change in the Standard Variable Rates shall be notified by the Servicer in writing to the Issuer and (where the Seller is not the Servicer) the Seller as soon as reasonably practicable (in each case, following a request from the Issuer or the Seller (as applicable) to receive any such notification) and the Servicer shall, as soon as reasonably practicable thereafter, notify the relevant Borrower of any changes in the Monthly Instalments in relation to the relevant Loans. The Servicer shall bear all costs arising in relation to such notification of a change in the Standard Variable Rates in relation to the relevant Loans up to (and excluding) the date on which the perfection of the sale of the Loans and their Related Security to the Issuer is completed, in accordance with Clause 6 (Perfection of the Sale) of the Mortgage Sale Agreement. For the avoidance of doubt, the Issuer shall bear all costs arising in relation to such notification of a change in the Standard Variable Rates in relation to the relevant Loans from (and including) the date on which the perfection of the sale of the Loans and their Related Security to the Issuer is completed.
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MORTGAGE RATE. 18 SECTION PAGE ------- ----
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Related to MORTGAGE RATE

  • Wage Rate The hourly rates for full-time junior and adult apprentices as set out in this agreement shall apply to school based apprentices except that the school based apprentice for pay purposes will be paid a further 25% of hours to the actual hours worked for off the job training.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • LTV No Mortgage Loan has an LTV greater than 100%;

  • Mortgage Loan The appraisal was conducted by an appraiser who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and the appraiser both satisfy the applicable requirements of Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;

  • Contract Rate Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate. The Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.