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. 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. With respect to any Balloon Loan, the related Monthly Payment payable on the stated maturity date of such Balloon Loan.

Examples of Balloon Payment in a sentence

• To the extent none of clause (a), (b) or (c) applies, the Amortized Balloon Payment shall be the same as the Balloon Payment.

• If and to the extent an Enterprise Representative certifies that the Enterprise has entered into a firm commitment (which may be subject to customary conditions) to issue Refunding Bonds or other obligations to pay the Balloon Payment, the Balloon Payment shall be replaced by the dollar amounts payable on the dates that the Enterprise Representative certifies are the amounts of and dates on which payments are expected to be due on such Refunding Bonds or other obligations.

• For each of the Mortgage Loans, all of which have an “Amortization Type” of “Interest Only” on the Final Data File, Benefit Street, on behalf of the Issuer, instructed us to use the “Mortgage Loan Cut-off Date Commitment ($)” of each Mortgage Loan and Underlying Property, as applicable, as shown on the Final Data File, for the “Mortgage Asset Balloon Payment ($)” characteristic of each Mortgage Loan and Underlying Property, as applicable.

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. With respect to any Balloon Mortgage Loan as of any date of determination, the Monthly Payment payable on the Maturity Date of such Mortgage Loan.