Arrears for this purpose means, in respect of a Loan, on any date that two or more Monthly Payments have become due and remain unpaid by the relevant Borrower, and this reporting line relates to repurchases under clause 8.11 of the Mortgage Sale Agreement.
Course Fee Shall refer to the compulsory fees to be charged by the PEI on account of the Student’s undertaking of the Course and as stated in Schedule B.
Annual Special Tax means the Special Tax actually levied in any Fiscal Year on any Assessor’s Parcel.
Applicable Facility Fee means the percentage set forth in the table below corresponding to the Level at which the “Applicable Margin” is determined in accordance with the definition thereof: 1 0.100 % 2 0.125 % 3 0.150 % 4 0.200 % 5 0.250 % 6 0.300 % Any change in the applicable Level at which the Applicable Margin is determined shall result in a corresponding and simultaneous change in the Applicable Facility Fee. The provisions of this definition shall be subject to Section 2.5.(c).
Franchise Fee means a direct or indirect payment to purchase or operate a franchise. Franchise fee does not include any of the following: