Interest free Loan definition

Interest free Loan means zero interest loan where no additional amount is received from the borrower and only the principal amount of loan is recovered. It does not include any kind of grants to the borrower and products like murabaha, musharkah and salam etc.
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Interest free Loan means a loan by the Fund to a Project Entity pursuant to a CDMF Project Financing Agreement made in the expectation of repayment of principal but without expectation of payment of interest;
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Interest free Loan means second mortgages made by the Government that are to be repaid without interest pursuant to the provisions of this Chapter.
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Examples of Interest free Loan in a sentence

  • If the student is awarded any other financial aid (scholarship) during the tenure of Interest free Loan, we will immediately inform IT about it.

  • Interest free Loan from PICUP under sales tax deferred scheme is secured by first charge on all movable fixed assets (present & future) of Noida units and first pari-passu charge with bank(s) on immovable properties of Noida units.

  • By that the land or territory must be seen as neutral, open and accessible to all.

  • Reliance Infrastructure Management Services Limited * - -0.510.51* Refer Note No. - 24 9.2 Loans and Advances to Subsidiaries are Interest free Loan.

  • The Interest- free Loan Department (Burhānī Qarďan Ḥasanā Trust) provides loans.

  • Interest free Loan under Sales Tax deferral scheme from Government of Gujarat is repayable in six equal annual installments starting from 31.05.2010.

  • Bhimjyani (Director) (b)Nature of contracts/arrangements/ transactionsUnsecured Interest free Loan (c)Duration of the contracts/ arrangements/ transactionsTemporary (d)Salient terms of the contracts or arrangements or transactions including the value, if any:Interest-free loans and advances to the company to meet its requirements.

  • Loan represents ` NIL (Previous Year ` 33,15,00,000/-) Interest free Loan from Reliance Industries Limited, repayable after 31st March 2025.

  • The maximum loan amount of each application is HK$50,000 or the approved cost of works, whichever is the lower.2. Applicant will not be granted another new Home Renovation Interest- free Loan before full repayment of an existing Home Renovation Interest-free Loan.

  • There are three funds available to universities under the GGRP: the Retrofits Grant Fund for Cap and Trade Non-Participants, the Interest- free Loan Fund and the Innovation Grant Fund.On November 9, 2017 MAESD released a Call for Proposals for the competitive portion of GGRP, the Innovation Grant Fund.

Related to Interest free Loan

  • Discount Mortgage Loan Any Mortgage Loan having a Net Mortgage Rate (or the initial Net Mortgage Rate) of less than the Discount Net Mortgage Rate per annum and any Mortgage Loan deemed to be a Discount Mortgage Loan pursuant to the definition of Qualified Substitute Mortgage Loan.

  • Interest Only Mortgage Loan A Mortgage Loan for which an interest-only payment feature is allowed during the interest-only period set forth in the related Mortgage Note.

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • 60+ Day Delinquent Mortgage Loan (i) Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, two months or more past due (without giving effect to any grace period), including, without limitation, such Mortgage Loans that are subject to bankruptcy proceedings, (ii) each Mortgage Loan in foreclosure and (iii) all REO Property.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

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

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Fixed Rate Certificate A Certificate that provides for a payment of interest at a Fixed Pass-Through Rate.

  • Discount Loan The Loans having Pass-Through Rates of less than 6.75%.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-11 Certificates required to be distributed to Holders of the Class I-A-11 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-11 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-11 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.