Balloon Payment definition
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 Loan, the related Monthly Payment payable on the stated maturity date of such Balloon Loan.
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.
Examples of Balloon Payment in a sentence
The Servicer shall, subject to a determination of recoverability also advance in respect of each Payment Date following (x) a delinquency in the payment of the Balloon Payment of the Trust Loan or foreclosure (or acceptance of a deed-in-lieu of foreclosure or comparable conversion) of the Trust Loan or (y) not later than the related Remittance Date, to the Distribution Account, the amount of any Assumed Monthly Payment deemed due with respect to the Trust Loan on such Payment Date.
More Definitions of Balloon Payment
Balloon Payment. The final Scheduled Payment in respect of a Balloon Mortgage Loan.
Balloon Payment means, with respect to any Balloon Mortgage Loan, the Scheduled Payment payable on the Maturity Date of such Mortgage Loan.
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 means, with respect to the Mortgage Loan, the payment of principal due on its scheduled Maturity Date.
Balloon Payment. The payment of the outstanding principal balance of the Mortgage Loan, the Trust Loan or any Companion Loan, as applicable, together with all unpaid interest, due and payable on the Maturity Date.
Balloon Payment shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.
Balloon Payment. Not applicable.