Deferred Interest Loan definition

Deferred Interest Loan means a Loan that requires the related Obligor to pay only a portion of the accrued and unpaid interest on a current basis, with the remaining interest being deferred and paid later, together with any unpaid interest thereon, in a lump sum, which amount shall be treated as Interest Collections at the time it is received.
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Deferred Interest Loan means either (i) a Loan that is in a Deferral Period and for which all Billed interest thereon will be waived if the related Borrower repays such Deferred Interest Loan in full prior to the end of such Deferral Period and/or (ii) a Loan that is in a Deferral Period and with respect to which Lender is obligated to rebate all or some portion of interest payments made on such Loan and reverse interest Billed but not paid on such Loan if such Loan is repaid or prepaid in full during such Deferral Period. For avoidance of doubt, Loans for which a Deferral Period has ended are no longer Deferred Interest Loans as of the first day after the last day of such Deferral Period. “[*****].
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Deferred Interest Loan means a Receivable (a) on which interest is billed during a specified period of time determined at the time of origination, [*****]; provided, that, in each case, such interest shall be reversed so long as the payments made in such specified period equal, in the aggregate, the total principal amount of such Receivable, and (b) which has an annual interest rate of 0% for a promotional period not to exceed one (1) year, and which after such promotional period resets to become interest bearing. [*****]
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Examples of Deferred Interest Loan in a sentence

  • Service users in receipt of a Deferred Interest Loan will have a review at least annually to ensure that the adaptation is still appropriate and in use.

  • The 0% Deferred Interest Loan is targeted at owner‐occupant households who have resided in their home for at least two (2) years, and 2.

  • The HOME Program provides a 0% Deferred Interest Loan (Loan) up to $50,000 for the rehabilitation of owner‐occupied single‐family homes or condominiums to the City’s residential code (“Code”) and the City’s Rehabilitation Standards (“Standards”).

  • People in receipt of a Deferred Interest Loan will be subject to review to ensure that the adaptation is still appropriate and in use.

  • The applicants, on specific terms and conditions, sanctioned the restructuring of outstanding Term loans, permitting moratorium in respect of the Short Term Loan and additional Term Loan availed earlier and by creation of Deferred Interest Loan for the overdue interest portion in respect of the term loans availed earlier.

  • As on the date of filing the OA, the liabilities due to the 1st applicant from the defendants under the Term Loan Account No. 0808763000001, Term Loan Account No. 0808773004656 and Deferred Interest Loan Account No.0808747000001 is a sum of Rs.55,42,15,603.00 + Rs. 15,77,43,355.00 + Rs. 3,45,93,858.00 = Rs.74,65,52,816.00 (Rupees Seventy Four Crores sixty five lakhs fifty two thousand eight hundred sixteen only).

  • Similarly, the liabilities due to the 2nd applicant from the defendants under the Term Loan Account No.425700IA00000015, Term Loan Account No.425700IA00000024 and Deferred Interest Loan Account No. 425700IA00000033 is a sum of Rs.75,95,58,592.67 + Rs.9,49,42,250.68+ Rs.3,79,13,097.20= Rs.89,24,13,940.54 (Rupees Eighty nine Crores twenty four lakhs thirteen thousand nine hundred forty and paise fifty four only).

  • Where an individual fails to make payment of invoices for care services provided by the council or contribute in accordance with the terms of a Personal Budget, Direct Payment Agreement, Deferred Interest Loan, Deferred Payment Agreement or other financial agreement with the council, action will be taken in accordance with the council’s Debt Recovery Policy.

  • The deferred interest payable to the 2nd applicant being Rs.3.15 Crores, it had on 21.03.2015 permitted restructuring limits and provided Deferred Interest Loan of a sum of Rs.3.15 Crores.

  • Where an individual fails to make payment of invoices for care services provided by the council or contribute in accordance with the terms of a Personal Budget, Direct Payment Agreement, Deferred Interest Loan, Deferred Payment Agreement or other financial agreement with the council, action will be taken in accordance with the council‟s Debt Recovery Policy.


More Definitions of Deferred Interest Loan

Deferred Interest Loan means a Receivable on which interest is billed during a specified period of time determined at the time of origination [*****]; provided, that, in each case, such interest shall be reversed so long as the payments made in such specified period equal, in the aggregate, the total principal amount of such Receivable. [*****] “Deferred Interest Payments” means, as of any date of determination, the aggregate amount of interest Collections received by the Borrower with respect to a Receivable that is a Deferred Interest Loan during the deferral period for such Deferred Interest Loan. For Deferred Interest Loans no longer in the deferral period, Deferred Interest Payments will be deemed to equal the current principal balance of each Receivable multiplied by the annual interest rate of the Receivable. [*****] [*****]
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Deferred Interest Loan has the meaning given to such term in the Servicing Agreement.
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Deferred Interest Loan means either (i) a Loan that is in a Deferral Period and for which all Billed interest thereon will be waived if the related Borrower repays such Deferred Interest Loan in full prior to the end of such Deferral Period and/or (ii) a Loan that is in a Deferral Period and with respect to which Lender is obligated to rebate all or some portion of interest payments made on such Loan and reverse interest Billed but not paid on such Loan if such Loan is repaid or prepaid in full during such Deferral Period. For avoidance of doubt, Loans for which a Deferral Period has ended are no longer Deferred Interest Loans as of the first day after the last day of such Deferral Period.
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Related to Deferred Interest Loan

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.

  • Net Deferred Interest With respect to each Loan Group and any Distribution Date, the greater of (i) the excess, if any, of the Deferred Interest for the related Due Date over the aggregate amount of any principal prepayments in part or in full received during the related Prepayment Period and (ii) zero.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Simple Interest Advance means, with respect to a Simple Interest Receivable, the amount, as of the last day of a Collection Period, which is advanced with respect to such Simple Interest Receivable by the Servicer pursuant to Section 4.4(a) of the Sale and Servicing Agreement.

  • Assumed Interest Amount With respect to any Distribution Date and Class of Subordinated Certificates, one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class on the applicable Assumed Balance immediately prior to that Distribution Date.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Simple Interest Mortgage Loan Those simple interest loans as noted on the Mortgage Loan Schedule under the data field designated “DSI.”

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Class B-1 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-1 Certificates on prior Distribution Dates pursuant to Paragraph sixth of Section 4.01(a).

  • Capitalized Interest Account The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.

  • Class B Unpaid Interest Shortfall Any of the Class B-1 Unpaid Interest Shortfall, Class B-2 Unpaid Interest Shortfall, Class B-3 Unpaid Interest Shortfall, Class B-4 Unpaid Interest Shortfall, Class B-5 Unpaid Interest Shortfall or Class B-6 Unpaid Interest Shortfall.

  • REO Imputed Interest As to any REO Property, for any calendar month during which such REO Property was at any time part of REMIC I, one month's interest at the applicable Net Mortgage Rate on the Stated Principal Balance of such REO Property (or, in the case of the first such calendar month, of the related Mortgage Loan, if appropriate) as of the close of business on the Distribution Date in such calendar month.

  • Postponed Fixed Interest Date means the tenth Business Day following the originally scheduled Fixed Interest Date;

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Overfunded Interest Amount With respect to any Subsequent Transfer Date, the excess of (A) the amount on deposit in the Capitalized Interest Account on such date over (B) the excess of (i) the amount of interest accruing at the sum of the (a) assumed weighted average Pass-Through Rate of the Offered Certificates and (b) the Applicable Rate on the Prefunded Amount outstanding at the end of the related Collection Period for the total number of days remaining through the end of the Accrual Periods ending April 25, 2004, May 24, 2004 and June 24, 2004 over (ii) one month of investment earnings on the amount on deposit in the Capitalized Interest Account on such date at an annual rate of 0.75%. The assumed weighted average Pass-Through Rate will be calculated assuming the Certificate Index is 1.09% for any Subsequent Transfer Date prior to the April 2004 Distribution Date, 1.34% for any Subsequent Transfer Date prior to the May 2004 Distribution Date and 1.59% for any Subsequent Transfer Date prior to the June 2004 Distribution Date.

  • Interest Funds With respect to each Mortgage Group and any Payment Date, (a) the sum of, without duplication, (1) all interest collected (other than the interest portion of Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Mortgage Group during the related Due Period by the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus, (x) to the extent provided under Sections 4.02(e)(3) and (4) and Sections 5.08(i) and (ii) herein, previously unreimbursed Advances and Nonrecoverable Advances due to the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans in such Mortgage Group, (y) the Servicing Administration Fee and Master Servicing Fee with respect to such Mortgage Loans in such Mortgage Group and (z) any fees and expenses of any Custodian with respect to the Mortgage Loans in such Mortgage Group to the extent not paid by the Seller or its Affiliates, (2) any Compensating Interest Payments or payments in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.21 with respect to the related Prepayment Period with respect to the Mortgage Loans in such Mortgage Group, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) such Mortgage Group’s pro rata share of: (i) the Owner Trustee Fee, (ii) any costs, expenses or liabilities reimbursable or otherwise due to the Master Servicer, Servicer, the Subservicer, the Indenture Trustee, any Custodian, the Owner Trustee or the Trust Administrator to the extent provided in this Agreement, the Trust Agreement, the Indenture and any Custodial Agreement and (iii) any Net Swap Payment.

  • Class B-6 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-6 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-first of Section 4.01(a).

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Class B-4 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-4 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-4 Certificates on prior Distribution Dates pursuant to Paragraph fifteenth of Section 4.01(a).

  • Class B-5 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-5 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-5 Certificates on prior Distribution Dates pursuant to Paragraph eighteenth of Section 4.01(a).

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Interest Subsidy Payments means payments, designated as such, consisting of interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Unpaid Interest Amount As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Class B-2 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-2 Certificates on prior Distribution Dates pursuant to Paragraph ninth of Section 4.01(a).

  • Class D Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).