Earnings Allowance definition

Earnings Allowance has the meaning set forth in Section 3.1(b).
View Source
Earnings Allowance. An earnings allowance calculated at a rate equivalent to 70% of the 90 day US Treasury ▇▇▇▇ rate will be available to offset custody bills. Excess earnings allowances will be applied to future custody bills. However, excess earnings allowances can only be used to offset custody bills in the same calendar year.
View Source
Earnings Allowance has the meaning set forth in Section 3.1(b). "Earnings Credit" has the meaning set forth in Section 3.1(b). "Electronic Advance Request" means an electronic transmission through RFConnects Delivery containing the same information as Exhibit A to this Agreement. "Electronic Tracking Agreement" means an Electronic Tracking Agreement, on the form prescribed by Lender, among Borrower, Lender, MERS and MERSCORP, Inc. "Eligible Balances" means all funds of or maintained by Borrower (and, if applicable, Borrower's Subsidiaries) in demand deposit or time deposit accounts at a Designated Bank, minus balances to support float, reserve requirements and any other reductions that may be imposed by governmental authorities from time to time. "Eligible Loan" means a Single Family Mortgage Loan that satisfies the conditions and requirements set forth in Exhibit H. "Eligible Mortgage Pool" means a Mortgage Pool for which (a) an Approved Custodian has issued its initial certification, (b) there exists a Purchase Commitment covering the Agency Security to be issued on the basis of that certification and (c) the Agency Security will be delivered to Lender. "Equity Interests" means all shares, interests, participations or other equivalents, however, designated, of or in a Person (other than a natural person), whether or not voting, including common stock, membership interests, warrants, preferred stock, convertible debentures and all agreements, instruments and documents convertible, in whole or in part, into any one or more of the foregoing. "ERISA" means the Employee Retirement Income Security Act of 1974 and all rules and regulations promulgated under that statute, as amended, and any successor statute, rules, and regulations. "ERISA Affiliate" means any trade or business (whether or not incorporated) that is a member of a group of which Borrower is a member and that is treated as a single employer under Section 414 of the Internal Revenue Code. "Event of Default" means any of the conditions or events set forth in Section 10.1. "Excess Buydown" has the meaning set forth in Section 3.4. "Exchange Act" means the Securities Exchange Act of 1934 and all rules and regulations promulgated under that statute, as amended, and any successor statute, rules and regulations. "Exclusionary List" means the list by that name published and updated periodically by Lender on the www.gmacresidentialfun▇▇▇▇.▇▇▇ ▇▇▇▇▇▇▇. "▇▇▇▇▇▇▇ ▇" means Exhibit B, as applicable to the type of Eligible Loan ag...
View Source

Examples of Earnings Allowance in a sentence

  • Any Earnings Allowance not used during the month in which the benefit was received will be accumulated and must be used within 6 months of the month in which the benefit was received.

  • The Earnings Credit and the Earnings Allowance for any month will be determined by Lender in its sole discretion and Lender's determination of those amounts is conclusive and binding absent manifest error.

  • The Lender's determination of the Earnings Credit and the Earnings Allowance for any month shall be determined by the Lender in its sole discretion and shall be conclusive and binding absent manifest error.

  • The Earnings Credit and the Earnings Allowance for any month will be determined by Lender in its sole discretion and Lender’s determination of those amounts is conclusive and binding absent manifest error.

  • Any Earnings Allowance shall be used first and any Earnings Credit shall be used second as a credit against accrued Designated Bank Charges, any other Miscellaneous Charges and fees, including, but not limited to Commitment Fees, Non-Usage Fees and Warehousing Fees, and may be used, at the Lender's option, to reduce accrued interest.

  • Any Earnings Allowance not used during the month in which the benefit was received shall be accumulated for use and must be used within six (6) months of the month in which the benefit was received.

  • If your Earnings Allowance Credit is not sufficient to offset all of your charges and fees during the month, we will automatically charge your account for the service and maintenance charges due.

  • Any Earnings Allowance will be used first and any Earnings Credit will be used second as a credit against Miscellaneous Fees and Charges (including Designated Bank Charges), Warehousing Fees, Wire Fees, Warehousing Commitment Fees, Loan Package Fees, and any other fees payable under this Agreement, and may be used, at Lender’s option, to reduce accrued interest.

  • Any Earnings Allowance will be used first and any Earnings Credit will be used second as a credit against Miscellaneous Fees and Charges (including Designated Bank Charges), and against other fees payable to Lender under this Agreement, including Warehousing Fees, Wire Fees, Warehousing Commitment Fees,Non-Usage Fees, and Loan Package Fees, and may be used, at Lender's option, to reduce accrued interest.

  • Any Earnings Allowance not used during the month in which the benefit was received shall be accumulated for use and must be used within 6 months of the month in which the benefit was received.


More Definitions of Earnings Allowance

Earnings Allowance has the meaning set forth in Section 2.4(b) hereof.
View Source