Legacy Loan definition

Legacy Loan means a Loan that was originated prior to August 6, 2020 with an annual percentage rate that is greater than 36.0%.
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Legacy Loan is hereby added to Section 1.1 of the Loan Agreement as follows:
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Legacy Loan means that certain loan made pursuant to the Legacy Loan Agreement in the original principal amount of Sixty Million Two Hundred Fifty Thousand Dollars ($60,250,000).”
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Examples of Legacy Loan in a sentence

  • For the avoidance of doubt, Consolidated EBITDA shall exclude the effect of any income or loss related to a Legacy Loan Portfolio, except to the extent such income or loss is accounted for in the calculation of Consolidated Net Income.

  • The Legacy Loan Program was intended to reduce uncertainty about bank balance sheets and draw private capital to the financial services sector by providing FDIC debt guarantees and Treasury equity co-investment to fund private-public entities purchasing problem loans from banks.

  • For the year ended December 31, 2022, the weighted average number of shares used to compute diluted loss per share is based on the weighted average number of basic shares of our common stock since the company had a net loss for the year ended December 31, 2022.

  • Eyeing the ED’s open door: how case managers can reduce unnecessary admissions.

  • Legacy Loan Securitizations Some commenters on the original proposal recommended an exemption from risk retention for securitizations and resecuritizations of loans made before the applicable effective date of the final rule, or ‘‘legacy loans,’’ asserting that risk retention would not affect the underwriting standards used to create those loans.

  • Legacy Loan Securitizations Some commenters on the original proposal recommended an exemption from risk retention for securitizations and resecuritizations of loans made before the effectiveness of the final rule, or legacy loans, arguing that risk retention would not affect the underwriting standards used to create those loans.

  • Applying the standards together is a more meaningful method of analysis than applying the standards separately.

  • The Debtors or the Wind Down Estate, as applicable, shall consummate all other transactions as are necessary to consummate the Legacy Loan Sale.

  • To commence the Legacy Loan Sale, on or prior to the Effective Date, the Debtors or the Wind Down Estate, as applicable, may engage in a marketing and sale process to identify a purchaser and begin negotiation and implementation of the Legacy Loan Sale, subject to consultation with the Reserve Bank.

  • The main driver of the positive cash inflow in 2021 was accessing the funds recognised under the Legacy Loan facility.


More Definitions of Legacy Loan

Legacy Loan shall have the meaning ascribed to such term in Section 5.1.1 hereof.
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Related to Legacy 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.

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

  • Cov-Lite Loan A Collateral Obligation the Underlying Documents for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Documents); provided that, notwithstanding the foregoing, a Collateral Obligation shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Obligation) not to be a Cov-Lite Loan if the Underlying Documents for such Collateral Obligation contain a cross-default or cross acceleration provision to, or such Collateral Obligation is pari passu with, another loan, debt obligation or credit facility of the underlying Obligor that contains one or more Maintenance Covenants.

  • 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.

  • Multicurrency Loan means a Loan denominated in Dollars or an Agreed Foreign Currency.

  • Alternate Currency Loan means any Loan denominated in an Alternate Currency.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • 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”.

  • Eurodollar Loan means a Loan which bears interest at a Eurodollar Rate.

  • 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.

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Eurocurrency Loan means any Eurocurrency Term Loan or Eurocurrency Revolving Loan.

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement;

  • 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.

  • 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;

  • Wet Loan means a Purchased Loan originated and owned by the Seller immediately prior to being purchased by the Buyers:

  • Existing Loan means the loan identified on Exhibit H.

  • 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.

  • Foreign Currency Loan means a Revolving Loan denominated in a Foreign Currency.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

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

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.