Consolidation of Future Advances definition

Consolidation of Future Advances. Any future advances made prior to the related Cut-off Date have been consolidated with the outstanding principal amount secured by the Mortgage, and the secured principal amount, as consolidated, bears a single interest rate and single repayment term reflected on the Mortgage Loan Schedule. The lien of the Mortgage securing the consolidated principal amount is expressly insured as having first lien priority (or, in the case of a Second Lien Mortgage Loan, second lien priority) by a title insurance policy, an endorsement to the policy insuring the mortgagee's consolidated interest or by other title evidence acceptable to Fannie Mae or Freddie Mac; the consolidated principal amount doex xxx exceed txx xxxxinal principal amount of the Mortgage Loan; the Company shall not make future advances after the related Cut-off Date;
Sample 1

Examples of Consolidation of Future Advances in a sentence

  • The Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan does not have a shared appreciation or other contingent interest feature; Consolidation of Future Advances.

Related to Consolidation of Future Advances

  • Consolidation Loan means a Loan made pursuant to and in full compliance with Section 428C of the Higher Education Act.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Fixed Rate Loans means CD Loans or Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Consolidation means the consolidation of the accounts of each of the Restricted Subsidiaries with those of the Company in accordance with GAAP; provided that “Consolidation” will not include consolidation of the accounts of any Unrestricted Subsidiary, but the interest of the Company or any Restricted Subsidiary in any Unrestricted Subsidiary will be accounted for as an investment. The term “Consolidated” has a correlative meaning.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Permitted Loans means:

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Monthly Advances Principal and interest advances and servicing advances including costs and expenses of foreclosure.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Note A-5 Securitization Date means the closing date of the Note A-5 Securitization.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • Permitted Intercompany Advances means loans made by (a) a Loan Party to another Loan Party, (b) a Subsidiary of a Borrower that is not a Loan Party to another Subsidiary of a Borrower that is not a Loan Party and (c) a Subsidiary of a Borrower that is not a Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany Subordination Agreement.

  • Eurodollar Rate Loans means any Loans or portion thereof on which interest is payable based on the Adjusted Eurodollar Rate in accordance with the terms hereof.

  • Permitted Existing Investments means the Investments of the Borrower and its Subsidiaries identified as such on Schedule 1.1.2 to this Agreement.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Note A-5 Securitization means the first sale by the Note A-5 Holder of all or a portion of Note A-5 to a depositor who will in turn include such portion of Note A-5 as part of the securitization of one or more mortgage loans.