Balance of the loan definition

Balance of the loan means the amount of the loan lent by the Bank and outstanding from time to time, and shall include, interest accrued to the Bank hereunder, fees, costs, charges or expenses when debited to the loan account pursuant to Clauses 2, 3, 6, 8 and 10 hereof and any amount debited to the loan account pursuant to Clause 15 (a) hereof.

Examples of Balance of the loan in a sentence

The amount will be assessed as a percentage of the Principal Balance of the loan on an annual basis, the same as the annual interest and hardship grant assessment are assessed.

Whenever the Principal Balance of the loan is less than the Principal Limit, Borrower may change from any payment plan allowable under this Loan Agreement to another.

Borrower can request Loan Advances under a line of credit payment plan in amounts and at times determined by Borrower, if the Principal Balance of the loan after the Loan Advance is made is less than or equal to the applicable Principal Limit, excluding any portion of the Principal Limit set aside under Sections 2.3.2. or 2.3.4.

The Insurance Company cannot be liable for more than the Outstanding Balance of the loan defined in the loan agreement in force when the loan was granted, irrespective of possible changes brought to the installments later.

If any loan matures after the Final Maturity Date, that loan will be removed from the Trust and the Unpaid Balance of the loan will be paid to the Trustee by St.George.

Balance of the loan at the date of the requirements of the applicable Note.

UPB at Issuance (UPB of the loan at pool issuance): The Unpaid Principle Balance of the loan at pool issuance.

Borrower can request Loan Advances under a line of credit payment option in amounts and at times determined by Borrower, if the Principal Balance of the loan after the Loan Advance is made is less than or equal to the applicable Principal Limit, except that during the First 12-Month Disbursement Period the amount available shall not be greater than the maximum amount permitted under 2.2.5, excluding any portion of the Principal Limit set aside under Sections 2.3.2, 2.3.3, 2.3.4 and 2.10.

Loan partly approved shs Balance of the loan to be approved, as at the time sufficient funds are available.

Subject to any adjustment required under Section 1(c) below, Lender hereby agrees, effective immediately, that the Principal Balance of the loan made under the Loan Agreement is reduced by the amount of the Reduction Amount.

Related to Balance of the loan

Revolving Loan means a Loan made pursuant to Section 2.01.
Loan means an extension of credit by a Lender to the Borrower under Article II in the form of a Term Loan, a Revolving Credit Loan or a Swing Line Loan.
Construction Loan means a loan for a maximum of two years for the purpose of construction.
Term Loan means an advance made by any Term Lender under the Term Facility.
Project Loan means a loan made to a municipality from the Local Bridge Revolving Fund and evidenced by the municipality's project loan obligation.
PPP Loan means the Business Loan Agreement, entered into between the Company and Zions Bancorporation, N.A. dba California Bank & Trust, dated April 15, 2020, and the Promissory Note, entered into between the Company and Zions Bancorporation, N.A. dba California Bank & Trust, dated April 15, 2020, in the principal amount of $4,204,300 and issued pursuant to the U.S. Paycheck Protection Program.
Eurodollar Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.
Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.
Commercial loan means a loan or an extension of credit to an individual, sole proprietorship, partnership, corporation, or business enterprise for commercial, industrial, agricultural, or professional purposes, including construction and development loans, any unfunded commitments, and any interest a credit union obtains in such loans made by another lender. A commercial loan does not include a loan made for personal expenditure purposes; a loan made by a corporate credit union; a loan made by a credit union to a federally insured credit union; a loan made by a credit union to a credit union service organization; a loan secured by a 1- to 4-family residential property (whether or not the residential property is the borrower’s primary residence); a loan fully secured by shares in the credit union making the extension of credit or deposits in another financial institution; a loan secured by a vehicle manufactured for household use; and a loan that would otherwise meet the definition of commercial loan and which, when the aggregate outstanding balance plus unfunded commitments less any portion secured by shares in the credit union to a borrower, is equal to less than $50,000.
Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.
Existing Loan means the loan identified on Exhibit H.
Revolving Advance means an Advance comprised of Revolving Loans.
Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.
CD Loan means a Committed Loan to be made by a Bank as a CD Loan in accordance with the applicable Notice of Committed Borrowing.
Loan Proceeds means all of the following: (i) any and all proceeds with respect to any or all of the Loans and any or all of the Underlying Collateral, including principal, interest, default interest, prepayment fees, premiums and charges, extension and exit fees, late fees, assumption fees, other fees and charges, insurance proceeds and condemnation payments (or any portion thereof) that are not used and disbursed to repair, replace or restore the related Underlying Collateral in accordance with the terms of the Loan Documents and the Ancillary Documents, and, with respect to any Acquired Property, operating cash flow realized from such Acquired Property net of Servicing Expenses, whether paid directly to the Company or payable to or distributed by an Ownership Entity; (ii) any and all proceeds from sales or other dispositions or refinancings of any or all of the Loans (including Acquired Property) net of Servicing Expenses incurred in connection with such sale or other disposition or refinancing; (iii) any proceeds from making a draw under any letter of credit or certificate of deposit held with respect to any Loan, provided that such draw is permitted by the terms of the Loan Documents;(iv) any recoveries from Borrowers or Obligors of any kind or nature with respect to the Loans;(v) any deposits or down payments forfeited by prospective purchasers or lessees of apartments or other units for space at any Underlying Collateral; and (vi) any interest or other earnings accrued and paid on any of the amounts described in the foregoing clauses (i) through (v) while held in the Collection Account or any other account (other than the Defeasance Account); provided, however, that, with respect to proceeds of any Loan Participation (including as a result of any sale or other disposition of such Loan Participation or of Underlying Collateral relating thereto), the Loan Proceeds shall exclude any amounts payable to others under the applicable Loan Participation Agreement.
Term Loan Advance means any Term Loan funds advanced under this Agreement.
VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.
Related Loan means a loan to an Affiliate of Borrower or any Guarantor or secured by a Related Property, that is included in a Securitization with the Loan, and any other loan that is cross-collateralized with the Loan.
LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.
Eurodollar Loan means any Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.
U.S. Base Rate Loan means each Loan which is designated or deemed designated as a U.S. Base Rate Loan by the applicable U.S. Revolving Borrower at the time of the incurrence thereof or conversion thereto.
LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.
Term Advance means a Term A Advance or a Term B Advance.
Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.
Eurodollar Obligations means eurocurrency liabilities, as defined in Regulation D or any comparable regulation of any Governmental Agency having jurisdiction over any Lender.
Term A Loan means an advance made by any Term A Lender under the Term A Facility.