Notwithstanding any provision contained in the Credit Agreement and subject to the terms and conditions provided for herein, the Lenders hereby consent to the Loss Utilization Strategy, including, without limitation, the JEGI Loan and the NEC Disposition.
LPMI Loan A Mortgage Loan with a LPMI Policy.
PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.
VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.
CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.
RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.
SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.
MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.
Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.
Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;
Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.
Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.
ARD Loan Any Mortgage Loan that is identified on the Mortgage Loan Schedule as having an Anticipated Repayment Date and Revised Rate.
Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.
Jumbo Loan means a Mortgage Loan that conforms to (i) all of the Agency Guidelines’ requirements for a Conventional Conforming Loan except that its original principal amount exceeds the maximum allowed by Agency Guidelines and (ii) the maximum CLTV and minimum FICO Score criteria specified on Schedule II.
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.
Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.
Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.
Term Loan as defined in Section 2.1.
Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.
Initial Loan is defined in Section 2.1.
Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.
Original Loan shall have the meaning set forth in the recitals hereto.
Incremental Loan has the meaning set forth in Section 2.14(b).
PMI Advance As defined in the related Servicing Agreement, if applicable.
Group I Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group I Loans.
Whole Loan As defined in the Introductory Statement.