Intended Payments definition
Intended Payments means, for the purpose of the calculation of the Price Difference, each and every payment of principal and/or interest that would have been made with respect to the Loan had the Loan closed with a principal amount equal to the Anticipated Loan Amount on the date breakage is calculated with an interest rate equal to the Locked Interest Rate assuming that the principal is repaid in full in on the Maturity Date and assuming that the Loan is otherwise consistent with the terms of the Application. A change of approximately 13 basis points is approximately equal to one percent (1%) for purposes of estimating the magnitude of Hedge Losses as determined hereunder.
Intended Payments means, for the purpose of the calculation of the Price Difference, each and every payment of principal and/or interest that would have been made with respect to the Loan had the Loan closed with a principal amount equal to the Anticipated Loan Amount on the date breakage is calculated with an interest rate equal to the Locked Loan Rate assuming that the principal is repaid in full in EffTerm years and assuming that the Loan is otherwise consistent with the terms of the Commitment Letter.
Intended Payments means, for the purpose of the calculation of the Price Difference, each and every payment of principal and/or interest that would have been made with respect to the Loan had the Loan closed with a principal amount equal to the Anticipated Loan Amount on the date breakage is calculated with an interest rate equal to the Locked Loan Rate assuming that the principal is repaid in full in EffTerm~ years and assuming that the Loan is otherwise consistent with the terms of the Commitment Letter. "LENDER'S EXPENSES" means the sum of (a) Losses, plus (b) all fees, commissions and other expenses (including reasonable attorneys' fees) incurred by Lender in connection with the closing out of all or any portion of the Rate Lock or otherwise in connection with this Agreement. "LOCKED LOAN RATE" means the Benchmark Treasury Rate plus the Loan Spread. "LOSSES" means the Breakage Amount if the Breakage Amount is a positive number. "PRICE DIFFERENCE" means, as of the time of calculation, the difference obtained by subtracting (i) 1 from (ii) the quotient obtained by dividing (1) the present value (as determined below) of the Intended Payments, determined as if the Loan were funded on the day of calculation, by (2) the Anticipated Loan Amount. The present value of the Intended Payments shall be calculated by discounting the Intended Payments by the Breakage Benchmark Treasury Rate plus the Loan Spread.
Examples of Intended Payments in a sentence
If at the end of the 13th month the Intended Payments have not been received, an additional Sales Charge will be determined based on the difference between the Sales Charge determined using the Intended Payments and the Sales Charge determined based on the Cumulative Value.
You may send us written notice of Intended Payments to be made during a subsequent 13-month period.
The Sales Charge percentage applied to any Payments received during the 13-month period will be based on the Intended Payments if that percentage is less than the Sales Charge percentage determined based on the Cumulative Value.