Combined Loan-to-Value. RATIO: The fraction, expressed as a percentage, the numerator of which is the sum of (x) the original principal balance of the related Mortgage Loan and (y) the outstanding principal balance at the date of origination of the Mortgage Loan of any senior mortgage loan, and the denominator of which is the Appraised Value of the related Mortgaged Property.
Combined Loan-to-Value. Ratio With respect to any Loan and as to any date of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of such Loan at the date of origination plus, in the case of a Second Lien Loan, the outstanding principal balance of the related first lien mortgage loan on the date of origination of such Second Lien Loan, and the denominator of which is the Collateral Value of the related Mortgaged Property. Corporate Trust Office The designated office of the Trustee in the State of New York at which at any particular time its corporate trust business with respect to this Agreement shall be administered, which office at the date of the execution of this Agreement is located at 0 Xxx Xxxx Xxxxx, 0xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 (Attention: Institutional Trust Services/Global Debt, Popular ABS 2005-2, facsimile number: 212-623-5930) and which is the address to which notices to and correspondence with the Trustee should be directed.
Combined Loan-to-Value. With respect to any Mortgage Loan and as to any date of determination, the fraction (expressed as a percentage) the numerator of which is the principal balance of the related Mortgage Loan plus any senior loan balances at such date of determination and the denominator of which is the lesser of the purchase price of the related Mortgaged Property and the appraised value of the related Mortgaged Property.
Examples of Combined Loan-to-Value in a sentence
No Mortgage Loan has a Combined Loan-to-Value Ratio of greater than [_____]%.
The Mortgage Loans have a weighted average Combined Loan-to-Value ration of [_____]%.
A partial release pursuant to this Section 3.05 shall be permitted only if the Combined Loan-to-Value Ratio for such Mortgage Loan after such partial release does not exceed the Combined Loan-to-Value Ratio for such Mortgage Loan as of the Cut-Off Date.
The Original Loan-to-Value (OLTV) ratio displayed in the tables below employs the Combined Loan-to-Value (CLTV) ratio in the case of second liens.
Such coverage will be maintained until the Combined Loan-to-Value Ratio of the related Mortgage Loan is reduced to 80% or less.
More Definitions of Combined Loan-to-Value
Combined Loan-to-Value or “CLTV” means, as to any Mortgage Loan, the ratio expressed as a percentage determined by dividing (i) the total amount owing and outstanding on all loans secured by the residential real property and improvements serving as collateral for the Mortgage Loan, by (ii) the Appraised Value of the residential real property and improvements serving as collateral for the Mortgage Loan.
Combined Loan-to-Value. Ratio With respect to any Loan and as to any date of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of such Loan at the date of origination plus, in the case of a Second Lien Loan, the outstanding principal balance of the related first lien mortgage loan on the date of origination of such Second Lien Loan, and the denominator of which is the Collateral Value of the related Mortgaged Property.
Combined Loan-to-Value means the ratio (reflected as a percentage) equal to (i) the aggregate outstanding amount (whether or not then currently due and payable) of all Financings; divided by (ii) the fair market value of the Hotel and the real property as determined by an appraisal prepared by an independent appraisal firm reasonably acceptable to Hyatt;
Combined Loan-to-Value means that ratio, expressed as a percentage, equal to:
Combined Loan-to-Value means, with respect to any Second Mortgage Loan, a fraction expressed as a percentage, (a) the numerator of which is the sum of the outstanding principal amount of such Second Mortgage Loan plus the outstanding principal amount of the first Mortgage Loan encumbering the subject real property, divided by (b) the appraised value of the subject real estate encumbered thereby based on a current appraisal and by an appraiser acceptable to Agent. “Commitment” means, for each Buyer, its commitment under Section 2.1, subject to reduction or increase as described in Section 2.6, to fund its Funding Share of Transactions, limited to such Buyer’s Committed Sum. “Committed Sum” means, for any day, the maximum total amount a Buyer is committed to fund for the purchase from the Seller of Eligible Loans on a revolving basis pursuant to this Agreement, on its terms and subject to its conditions. From the Effective Date of this Agreement through the Termination Date or such other date (if any) when all or any of them is changed by operation of the provisions of any agreement or Legal Requirement, the Committed Sums for the Buyers are as set forth on Schedule BC, as it may be amended and restated from time to time. “Competitor” means an entity which (a) either (i) competes with the Parent or its Affiliates in the home building business, or (ii) is in the business of making, purchasing, holding or otherwise investing in residential Mortgage Loans in the ordinary course of its business, and (b) is not in the business of making, purchasing, holding or otherwise investing in commercial loans or similar extensions of credit in the ordinary course of its business.
Combined Loan-to-Value means, with respect to any Second Mortgage Loan, a fraction expressed as a percentage, (a) the numerator of which is the sum of the outstanding principal amount of such Second Mortgage Loan plus the outstanding principal amount of the first Mortgage Loan encumbering the subject real property, divided by (b) the appraised value of the subject real estate encumbered thereby based on a current appraisal and by an appraiser acceptable to Agent. “Commitment” means, for each Buyer, its commitment under Section 2.1, subject to reduction or increase as described in Section 2.6, to fund its Funding Share of Transactions, limited to such Buyer’s Committed Sum. “Committed Sum” means, for any day, the maximum total amount a Buyer is committed to fund for the purchase from the Seller of Eligible Loans on a revolving basis pursuant to this Agreement, on its terms and subject to its conditions. From the Effective Date of this Agreement through the Termination Date or such other date (if any) when all or any of them is changed by operation of the provisions of any agreement or Legal Requirement, the Committed Sums for the Buyers are as set forth on Schedule BC, as it may be amended and restated from time to time.
Combined Loan-to-Value. Ratio With respect to any Loan and as to any date of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of such Loan at the date of origination plus, in the case of a Second Lien Loan, the outstanding principal balance of the related first lien mortgage loan on the date of origination of such Second Lien Loan, and the denominator of which is the Collateral Value of the related Mortgaged Property. Corporate Trust Office The designated office of the Trustee in the State of New York at which (a) its corporate trust business with respect to this Agreement shall be administered is located at JPMorgan Chase Bank, 4 New York Plaza, 6th Floor, New York, New York 10004, Attention: Worldwide Securities Services/Structured Finance Services, Popular ABS 2005-6 and (b) Certificates may be presented for transfer and exchange and for purposes of presentment and surrender for the final distributions thereon is located at 0000 Xxxxx Xxxxxx, 9th Floor, Dallas Texas 75201 Attention: Structured Finance Transfer Department Popular ABS 2005-6, or such other address as the Trustee shall notify the Depositor, the Servicer, the Sellers and the Certificateholders. Corresponding Class As defined in the Preliminary Statement. Counterparty The Bank of New York.