Adjustable definition

Adjustable means a type of Structured Option in which the Adjustable Protection Rate and Adjustable Contingent Rate are reset to the Protection Rate and Contingent Rate if the Spot Rate breaches an agreed Barrier Level during the Event Period.

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Adjustable means mechanically adjustable. [2]

Adjustable. Rate Mortgage Loan".................................................................2 "Adjustment Date"...............................................................................2 "Administrative Fee Amount".....................................................................3 "Affiliate".....................................................................................3 "Agent".........................................................................................3 "Aggregate Scheduled Principal Balance".........................................................3 "Aggregate Stated Principal Balance"............................................................3 "Assignment"....................................................................................3 "Authenticating Agent"..........................................................................3 "Authorized Officer"............................................................................3 "Available Funds"...............................................................................3 "Available Funds Cap Rate"......................................................................5 "Available Funds Cap Rate Carry Forward Amount".................................................5 "B Risk Mortgage Loans".........................................................................5 "B- Risk Mortgage Loans"........................................................................5 "Bankruptcy Code"...............................................................................5 "Basic Documents"...............................................................................5 "Beneficial Owner"..............................................................................5 "Best Efforts"..................................................................................6 "Book-Entry Notes"..............................................................................6 "Book-Entry Custodian"..........................................................................6 "Book-Entry Termination"........................................................................6 "Business Day"..................................................................................6 "C Risk Mortgage Loans".........................................................................6 "Cap Agreement".................................................................................6 : That certain interest rate cap agreement held by the Indentu...

Examples of Adjustable in a sentence

• With respect to each Adjustable Rate Mortgage Loan, the Servicer shall adjust the Mortgage Interest Rate on the related interest rate adjustment date and shall adjust the Monthly Payment on the related mortgage payment adjustment date, if applicable, in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note.

• The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization.

• The Mortgage Interest Rate as well as, in the case of an Adjustable Rate Mortgage Loan, the Lifetime Rate Cap and the Periodic Cap are as set forth on the related Mortgage Loan Schedule.

• Adjustable Rate Mortgages (ARMs) Numeric – Decimal 0.03 9.999999 ARMs Only >0 and <= 1 43 ARM Round Flag An indicator of whether an adjusted interest rate is rounded to the next higher ARM round factor, to the next lower round factor, or to the nearest round factor.

• Adjustable Rate Mortgages (ARMs) Numeric – Integer 45 99 ARMs Only >= 0 to <=99 42 Gross Margin The percentage stated on the mortgage note representing the spread between the ARM Index value and the mortgage interest rate.

• Adjustable Rate Mortgages (ARMs) Numeric – Integer 18 99 ARMs Only See Coding See Appendix B 41 ARM Look-back Days The number of days prior to the interest rate adjustment date to retrieve the index value.

• Adjustable Rate Mortgages (ARMs) Numeric – Integer 3 9 ARMs Only See Coding 0 = No Rounding 1 = Up 2 = Down 3 = Nearest 99=Unknown 44 ARM Round Factor The percentage to which an adjusted interest rate is to be rounded.

• Adjustable Rate Mortgages (ARMs) Numeric – Integer 60 999 ARMs Only >=0 and <= 120 0 = Loan does not adjust after initial reset 49 Subsequent Interest Rate (Change Down) The maximum percentage by which the interest rate may decrease at each rate adjustment date after the initial adjustment.

• Adjustable Rate Mortgages (ARMs) Numeric – Decimal 0.0025 or 0.00125 9.999999 ARMs Only Where ARM Round Flag = 1, 2, or 3 >= 0 and < 1 45 Initial Fixed Rate Period For hybrid ARMs, the period between the first payment date of the mortgage and the first interest rate adjustment date.

• Adjustable Rate Mortgages (ARMs) Numeric – Decimal 0.02 9.999999 ARMs Only >= 0 and <= 1 99=no cap 51 Lifetime Maximum Rate (Ceiling) The maximum interest rate that can be in effect during the life of the loan.

More Definitions of Adjustable

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Adjustable it shall be applied until adjusted as follows: The operative factor is subject to adjustment annually beginning with the second and ending with the tenth annual computation of the retrospective premium. The National Council on Compensation Insurance (“NCCI”) publishes a quarterly management summary for the workers compensation reinsurance pools, entitled “Residual Markets Results Circular,” (“RMR Circular”) which reflects the results of the immediately previous quarter. For example, the January RMR Circular reflects results of the quarter ending in September of the previous year. However, the assessment base for the calendar year will not be available until June of the following year. Hartford will use the data in the RMR Circular published at the end of the second quarter for all of the Policy years published in that Circular. Until the results of a Policy year are published, there will be no adjustment of the estimated Operative Factor shown in Schedule D. i. Find the residual market operative factors in the RMR Circular on the chart entitled “Residual Market Underwriting Results.” Locate the appropriate factor in the column of that chart labeled “RM State Results.” The chart will be designated by Policy year as of the effective date of the reported results. The operative factor is any net operating loss or gain. If there is a net operating gain, the factor is deemed to be zero. If the operative factor is negative, this number will be used to calculate the Residual Market load based on the operative premium base shown in Schedule D. ii. The operative factor calculated for the tenth annual computation will be the operative factor used for all subsequent computations.