Interest Only Term definition

Interest Only Term has the meaning set forth in the Summary of Loan Terms.
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Interest Only Term has the meaning set forth in the applicable Schedule of Advance Terms.
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Examples of Interest Only Term in a sentence

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Date 20090914 YYYYMMDD Modified Loans Only “19010101” if unknown 154 Pre-Modification I/O Term Interest Only Term (in months) preceding The Modification Effective Payment Date.

  • Loan Term and Amortization Type Numeric – Integer 60 999 Always >= 0 and <= 240 Unknown = Blank; No Interest Only Term = 0 33 Buy Down Period The total number of months during which any buy down is in effect, representing the accumulation of all buy down periods.

  • A computation from the Final Data File in which the number of months of Seasoning as of Cut-off Date that exceed the Interest Only Term was deducted from the Original Amortization Term (months).

  • Fully Amortizing”, when the Original Loan Term (months) was equal to the Original Amortization Term (months); or “Interest Only”, when the Interest Only term was equal to the Original Loan Term (months); or “Balloon”, when the Original Amortization Term (months) was greater than the Original Loan Term (months) and the Interest Only Term was equal to zero; or “Partial IO”, when the Interest Only Term was greater than zero and less than the Original Loan Term (months).

  • N/A”, if the Interest Only Term was equal to 0; or For loans based on Actual/360 interest calculation, a calculation from the Final Data File in which the Gross Interest Rate was divided by 12, then multiplied by the Cut-off Balance, then multiplied by 365 and then divided by 360; or For loans based on 30/360 interest calculation, a calculation from the Final Data File in which the Gross Interest Rate was divided by 12 and then multiplied by the Cut-off Balance.

  • With respect to those Mortgage Assets with an Amortization Type of “Partial IO,” for purposes of the procedure indicated herein, the Seasoning is reduced by (but to a result not less than zero) the Interest Only Term.

  • Remaining Amortization Calculation A computation from the Final Data File in which the number of months of Seasoning as of Cut-off Date that exceed the Interest Only Term was deducted from the Original Amortization Term (months).

  • With respect to Characteristic 12, assuming, at your request, no prepayments of principal, we recomputed the Maturity Balance using the First Payment Date, the Monthly Debt Service, the Original Principal Balance, the Interest Calculation Method, the Note Rate, the Interest Only Term and the Maturity Date.

  • Net Mortgage Rate Refer to calculation procedures below With respect to Characteristic 11, assuming, at your request, no prepayments of principal, we recomputed the Cut-off Balance using the First Payment Date, the Original Principal Balance, the Interest Calculation Method, the Monthly Debt Service, the Note Rate, the Interest Only Term and the Cut-off Date.

  • Interest Only Term Calculation; Promissory Note A computation from the Promissory Note in which the number of monthly payments occurring between the first installment date and the first principal and interest installment date were counted.

Related to Interest Only Term

  • Interest-Only Period means the period from and including the first Borrowing Date and through and including the sixteenth (16th) Payment Date following the first Borrowing Date.

  • Interest Only Loan means a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note.

  • 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.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Interest Only Certificates A Class or Subclass of Certificates not entitled to payments of principal, and designated as such in the Series Supplement. The Interest Only Certificates will have no Certificate Principal Balance.

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Initial Rate Period means, with respect to the VMTP Shares of any Series, the period commencing on and including the Date of Original Issue thereof and ending on, and including, the next succeeding calendar day that is a Wednesday (or if such Wednesday is not a Business Day, the next succeeding Business Day).

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on April 1, 2022 and ending on and including March 31, 2027 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including March 31 in the fifth year thereafter.

  • Quarterly Floating Rate Period means the period from and including a Quarterly Commencement Date to but excluding the next succeeding Quarterly Commencement Date.

  • Fixed Rate of Interest means the rate of interest payable from time to time in respect of a Fixed Rate Note or during the Fixed Interest Rate Period in respect of a Fixed/Floating Rate Note and that is either specified in the relevant Pricing Schedule or calculated in accordance with the provisions in the relevant Pricing Schedule.

  • Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Subsequent Rate Period means, with respect to any Series of RVMTP Shares, the period consisting of seven calendar days, but adjusted in each case to reflect any changes when the regular calendar day that is a Rate Determination Date is not a Business Day, from, and including, the first calendar day following the Initial Rate Period of such Series to, and including, the next Rate Determination Date for such Series and any period thereafter from, and including, the first calendar day following a Rate Determination Date for shares of such Series to, and including, the next succeeding Rate Determination Date for shares of such Series.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period and subject to Condition 4(b)(ii), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Early Termination Rate means the lesser of (i) 6.5% per annum, compounded annually, and (ii) LIBOR plus 100 basis points.

  • Interest Calculation Period means the period or periods for the calculation of the interest shown on the mortgage form;

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two (2) Business Days prior to the first day of such Interest Period.