Examples of Maximum Advance Rate in a sentence
If, on any day, the LTV Ratio is equal to or greater than the Maximum Advance Rate (a “Collateral Shortfall”), the Borrower shall have one (1) Business Day to cause the LTV Ratio to be less than or equal to the Minimum Advance Rate, or for so long as Borrower elects to pay Mid-Point Additional Interest in accordance with Section 3.3 below, the Mid-Point Advance Rate.
Total outstanding principal balance to Borrower: $1,500,000.00 (“Loan A + Loan B”) Compliance with the Maximum Advance Rate is calculated as follows:Loan B divided by Loan A + Loan B$1,000,000 / $1,500,000 = 66.7%This is defined for purposes of the program to be the Advance Rate.
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Policy holders and insurers have to examine the effectiveness of contractual regulations in each individual case.
In this example, the Advance Rate has been determined to be 66.7% and in compliance with AS 44.88.535, the Maximum Advance Rate under the AK SAFE Program.