Inactive Loan definition
Inactive Loan means any HELOC Loan other than an “active” HELOC Loan.
Examples of Inactive Loan in a sentence
No Loan Party that has been designated as an Inactive Loan Party has ceased to satisfy all the requirements for an Inactive Loan Party.
If at any time any Loan Party that has previously been designated as an Inactive Loan Party shall cease to satisfy any of the requirements for an Inactive Loan Party, Borrowers shall promptly give written notice of such occurrence to Lender.