Balloon Payment. A payment of the unamortized principal balance of a Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding Monthly Payment.
Balloon Payment shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
Balloon Payment. With respect to any Balloon Mortgage Loan as of any date of determination, the Monthly Payment payable on the Stated Maturity Date of such Mortgage Loan.
Examples of Balloon Payment in a sentence
When the bids were returned, Thomas had submitted a proposal to do a 4 year Balloon Payment Lease on 5 route buses.
More Definitions of Balloon Payment
Balloon Payment. With respect to any Balloon Loan as of any date of determination, the amount outstanding on the Maturity Date of such Mortgage Loan in excess of the related Monthly Payment.
Balloon Payment. With respect to any Balloon Loan, the related Monthly Payment payable on the stated maturity date of such Balloon Loan.
Balloon Payment shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.
Balloon Payment means, with respect to any Balloon Mortgage Loan, the Scheduled Payment payable on the Maturity Date of such Mortgage Loan.
Balloon Payment shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.