Employee Discount Rate definition

Employee Discount Rate. A rate equal to 0.25% per annum that represents a reduction in the mortgage interest rate that would have otherwise applied to an Employee Mortgage Loan but for the status of the mortgagor as an employee of the Underwriter or any one of its affiliates, which discount ceases to apply under the terms of an Employee Mortgage Loan if the mortgagor is no longer employed by the Underwriter or one of its affiliates. The Master Servicer shall provide written notice to the Trustee in the event that the Employee Rate Discount Rate ceases to apply to an Employee Mortgage Loan.
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Employee Discount Rate. Not applicable.
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Employee Discount Rate. The meaning set forth in the Trust Agreement. Errors and Omissions Insurance: Errors and Omissions Insurance to be maintained by the Servicer in accordance with the Xxxxxx Mae Guides.
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Examples of Employee Discount Rate in a sentence

  • The Servicer shall include in the monthly remittance advice information regarding each Employee Mortgage Loan (including, without limitation, the related Employee Discount Rate and any amounts remitted to the Master Servicer pursuant to Section 4.01 as a result of the Employee Discount Rate ceasing to apply to any Mortgage Loan.

  • With respect to each Employee Mortgage Loan for which the employee discount rate has ceased to apply, the Servicer shall include in the monthly remittance advice the related Employee Discount Rate and any amounts remitted to the Master Servicer pursuant to Section 4.01 as a result of the Employee Discount Rate ceasing to apply to any Mortgage Loan.

  • Most recent Employer Paystubrequired whenapplying for Local Employee Discount Rate.

  • The Servicer shall include in the monthly remittance advice information regarding each Employee Mortgage Loan (including, without limitation, the related Employee Discount Rate and any amounts remitted to the Master Servicer pursuant to Section 4.01 as a result of the Employee Discount Rate ceasing to apply to any Mortgage Loan).


More Definitions of Employee Discount Rate

Employee Discount Rate. As defined in the Trust Agreement.
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Related to Employee Discount Rate

  • BA Discount Rate means:

  • Discount Rate means the rate used by the Plan Administrator for determining the Accrual Balance. The initial Discount Rate is six percent (6%). However, the Plan Administrator, in its discretion, may adjust the Discount Rate to maintain the rate within reasonable standards according to GAAP and/or applicable bank regulatory guidance.

  • Applicable Discount has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Acceptable Discount has the meaning set forth in Section 2.05(a)(v)(D)(2).

  • Specified Discount Proration has the meaning set forth in Section 2.05(a)(v)(B)(3).

  • Money Market Absolute Rate has the meaning set forth in Section 2.03(d).

  • Discounted Term Loan Prepayment has the meaning assigned to such term in Section 2.11(a)(ii)(A).

  • Discounted Prepayment Determination Date has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Applicable Treasury Rate for any redemption date, means the yield to maturity at the time of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become publicly available at least two Business Days prior to the applicable redemption date of such Note (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the applicable redemption date to November 15, 2019; provided, however, that if the period from the applicable redemption date to November 15, 2019 is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Applicable Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given except that if the period from the applicable redemption date to November 15, 2019 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

  • Treasury Rate means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.

  • Discount Range Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • S&P Discount Factor means for purposes of determining the Discounted Value of any S&P Eligible Asset, the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the S&P Exposure Period, in accordance with the table set forth below:

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Specified Discount Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Prepayment Rate means the bond equivalent yield (in the secondary market) on the United States Treasury Security that as of the Prepayment Rate Determination Date has a remaining term to maturity closest to, but not exceeding, the remaining term to the Maturity Date, as most recently published in the "Treasury Bonds, Notes and Bills" section in The Wall Street Journal as of the date of the related tender of the payment. If more than one issue of United States Treasury Securities has the remaining term to the Maturity Date referred to above, the "Prepayment Rate" shall be the yield on the United States Treasury Security most recently issued as of such date. If the publication of the Prepayment Rate in The Wall Street Journal is discontinued, Lender shall determine the Prepayment Rate on the basis of "Statistical Release H.15(519), Selected Interest Rates," or any successor publication, published by the Board of Governors of the Federal Reserve System, or on the basis of such other publication or statistical guide as Lender may reasonably select. "PREPAYMENT RATE DETERMINATION DATE" shall mean the date which is five (5) Business Days prior to the prepayment date.

  • Term Benchmark when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate.

  • Repo Rate on any day means the highest interest rate available to a Lender from investment in overnight repurchase agreements.

  • Discount Range Prepayment Notice means a written notice of a Borrower Solicitation of Discount Range Prepayment Offers made pursuant to Section 2.11(a)(ii)(C) substantially in the form of Exhibit K.

  • Adjusted Treasury Rate means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

  • Specified Discount Prepayment Response Date has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Specified Discount Prepayment Notice means an irrevocable written notice of a Borrower Offer of Specified Discount Prepayment made pursuant to Section 2.11(a)(ii)(B) substantially in the form of Exhibit I.

  • Specified Discount Prepayment Response means the irrevocable written response by each Term Lender, substantially in the form of Exhibit K, to a Specified Discount Prepayment Notice.

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Discount Range Prepayment Response Date has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • Moody’s Discount Factor means the discount factors set forth in the Moody's Guidelines for use in calculating the Discounted Value of the Fund's assets in connection with Moody's long-term preferred share ratings of the VRDP Shares at the request of the Fund.

  • Discounted Prepayment Option Notice has the meaning specified in Section 2.05(d)(ii).