loan consummation definition

loan consummation means the time the borrower becomes contractually obligated on the loan transaction (i.e, the time of closing and not the date the rescission period expires);
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loan consummation means the time that a consumer becomes contractually obligated on a credit transaction.
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Related to loan consummation

  • Consummation Date means the date of the substantial consummation (as defined in Section 1101 of the Bankruptcy Code and which for purposes of this Agreement shall be no later than the effective date) of a Reorganization Plan that is confirmed pursuant to an order of the Bankruptcy Court.

  • Consummation means the occurrence of the Effective Date.

  • Loan Closing means the date on which an executed Loan Agreement between the Trust and a Borrower is delivered pursuant to this Bond Resolution.

  • Loan Closing Date means the date upon which the Loan is made to the Company.

  • Consummation Deadline As defined in Section 3(b) hereof.