Loan Basis definition

Loan Basis with respect to any Financial Asset means the cost basis of amounts paid in cash for such asset by any Borrower, minus principal payments made after the acquisition of such asset, minus amortization permitted or required under GAAP, and shall not include unearned interest, commissions, discounts, dealer reserves, fees and like items.
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Loan Basis has the meaning set forth in Section 2.1(d). "Loan Documents" mean all documents whether on hard copy, computer record or any other format, evidencing or pertaining to a particular Company Mortgage Loan with respect to the processing, origination, Servicing, subservicing, payment and foreclosure of such Company Mortgage Loan, including the Mortgage Note, Mortgage, ledger or other cards, tax bills, accruals records, insurance policies, payment and remittance records and any documents required to be maintained under, or that are necessary to comply with applicable Mortgage Loan Regulations. "Loss" has the meaning set forth in Section 10.2(a). "Losses" has the meaning set forth in Section 10.2(a). "Marketable Loan" means a Company Mortgage Loan that is insured by the FHA or the VA, or otherwise conforms to the underwriting standards of ▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ Mac, GNMA or any other secondary market purchaser and is deliverable in the secondary market. "Material Contracts" has the meaning set forth in Section 4.10(a). "MDMC" means Mortgage Data Management Corporation. "Mortgages" means the mortgages, deeds of trust, security deeds and other instruments creating a lien on real property with respect to the Company Mortgage Loans. "Mortgage Files" means, with respect to any Company Mortgage Loan or any Pipeline Loan, the file or files containing the photostatic copy or copies on other media and, to the extent required by applicable Law, original documents, of the Mortgage Note, any mortgage or other documents creating or evidencing a security interest in the related Collateral and other Loan Documents with respect to each Company Mortgage Loan or Pipeline Loan, as well as the related credit and closing packages, disclosures, custodial documents, and all other files, books, records and documents reasonably necessary to (i) establish the eligibility of the mortgage loans or Pipeline Loans for insurance by an Insurer or for sale or delivery to an Investor, (ii) service the mortgage loans in accordance with the Mortgage Loan Regulations, or (iii) comply with the Mortgage Loan Regulations regarding documentation to be maintained by a servicer of a mortgage loan or a Pipeline Loan, or by the document custodian thereof.
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Examples of Loan Basis in a sentence

  • The Adjusted Loan Basis for each Property shall be increased dollar for dollar for Working Capital Advances and other Advances which relate directly to such Property.

  • At no time will the aggregate Loan Basis of the Borrowers' consolidated Financial Assets exceed ninety percent (90%) of the aggregate unpaid principal amounts of all of Borrowers' Financial Assets.

  • For the purpose of the calculation of the ratio in this paragraph, each Financial Asset will be classified as a “short-term” asset and calculated at the lowest of (i) its Loan Basis or (ii) cost under GAAP or (iii) market under GAAP.

  • In connection with any reallocation of the Loan pursuant to this paragraph (j), Administrative Agent shall prepare and deliver to Borrower a new Schedule 1.1(A) reflecting the revised Adjusted Loan Basis of each Project, which shall supersede and replace Schedule 1.1(A) attached to this Agreement.

  • Section 2.4 Collateral; Releases of Collateral....................................................22 Section 2.5 Adjustments to Adjusted Loan Basis..................................................

  • Section 2.4 Collateral; Releases of Collateral........................26 Section 2.5 Releases of Nomura Properties.............................29 Section 2.6 Adjustments to Adjusted Loan Basis......................

  • Any prepayment of principal not directly related to a specific Project shall be allocated by Administrative Agent to the Projects, on a pro rata basis, in accordance with each Project’s Adjusted Loan Basis.

  • The Adjusted Loan Basis for each Project shall be decreased dollar for dollar for prepayments of Loan principal which relate directly to such Project (e.g., casualty or condemnation proceeds or payments made in connection with the release of a Project in accordance with Section 14.3).