Mortgage Interest Payments definition

Mortgage Interest Payments means all Monthly Payments (except to the extent of any amounts representing principal repaid), other interest received under the Mortgage Portfolio, all prepayment charges and any other redemption fees, insurance commissions, charges and penalties and any costs or other amounts received under the Mortgage Portfolio (including in any such case amounts (other than principal amounts) recovered on enforcement of rights against any Borrower or guarantor or his property or assets (including interest recovered on enforcement of the Borrower's Mortgage or from a guarantor)).
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Mortgage Interest Payments means the lower of: (a) the sum of (1) Employee’s monthly interest portion of the mortgage payments on the portion of the Stipulated Mortgage Amount (as defined below) over $1,100,000, plus an amount sufficient to gross-up Employee’s tax on such reimbursement amount, plus (2) that amount which would be Employee’s monthly interest portion of the first $1,100,000 of the Stipulated Mortgage Amount after offsetting the value of any tax deduction that Employee would receive for such interest payments, and (b) the amounts resulting from the calculation in clause (a) above assuming that the Employee’s mortgage is an Approved Mortgage (as defined below). The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) Employee no longer being employed by the Company, or (B) Employee no longer making payments on a mortgage on his primary residence in the Bay Area, or (C) five (5) years after the Employee purchases a residence in the Bay Area. If Employee refinances and/or sells one California residence and purchases another in California, the amount of the Mortgage Interest Payments shall not be recalculated, but shall continue unaffected by such transaction. As used herein, the following terms shall have the following meanings:
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Mortgage Interest Payments means the lower of: (a) the amount of Executive’s monthly interest portion of the Stipulated Mortgage Amount after offsetting the value of any tax deduction that Executive would receive for such interest payments, and (b) the amount resulting from the calculation in clause (a) above, assuming that Executive’s mortgage interest rate is 4.25% per annum. The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) the termination of Executive’s employment with the Company, (B) Executive ceasing to make payments on a mortgage on his primary residence in the San Francisco Bay Area, and (C) the second anniversary of the date of Executive’s purchase of a residence in the San Francisco Bay Area. If Executive refinances or sells one San Francisco Bay Area residence and purchases another in the San Francisco Bay Area, the amount of the Mortgage Interest Payments shall not be recalculated and shall continue unaffected by such transaction. Executive will also receive an amount that is intended to offset his tax on any reimbursement of Mortgage Interest Payments pursuant to this Section 2.3.4.5, which amount shall be equal to forty-five percent (45%) of such reimbursement of Mortgage Interest Payments. Notwithstanding the foregoing, the Company’s reimbursement of Mortgage Interest Payments, including any related tax gross-up payments, under this Section 2.3.4.5 shall not exceed $20,000 per year.
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Examples of Mortgage Interest Payments in a sentence

  • Confirm the borrower’s calculations on the borrower’s SBA Form 3508EZ or lender’s equivalent form, including the dollar amount of the Payroll Costs, Business Mortgage Interest Payments, Business Rent or Lease Payments, and Business Utility Payments claimed on Lines 1, 2, 3, and 4 of the SBA Form 3508EZ or lender’s equivalent form, by reviewing the documentation submitted with the SBA Form 3508EZ or lender’s equivalent form.iv.

  • The All Items Retail Prices Index Excluding Mortgage Interest Payments (RPIX) is used to provide the relevant percentage uplift.

  • The specified amounts per policy per annum referred to above will be as follows: Amount (£) per annumFormer Swiss Life OB Fund – Investment Type Policy40.00Former Swiss Life OB Fund – Other Policy20.00Former Swiss Life IB Fund Policy0.30 Other than in the event of major regulatory change, these specified expenses per policy will increase in subsequent years only in line with the increase in the Retail Prices Index excluding Mortgage Interest Payments (RPIX) since 30 June 2005 plus 1.40% per annum.

  • Confirm the borrower’s calculations on the borrower’s Loan Forgiveness Application, including the dollar amount of the (A) Cash Compensation, Non- Cash Compensation, and Compensation to Owners claimed on Lines 1, 4, 6, 7, 8, and 9 on PPP Schedule A and (B) Business Mortgage Interest Payments, Business Rent or Lease Payments, and Business Utility Payments claimed on Lines 2, 3, and 4 on the PPP Loan Forgiveness Calculation Form, by reviewing the documentation submitted with the Loan Forgiveness Application.

  • Such amounts include the proceeds of the Notes, all Mortgage Principal Payments, all Mortgage Interest Payments, all interest accruing in respect of amounts standing to the credit of the Issuer Bank Accounts and all other amounts received by the Issuer in respect of the Notes, the Mortgage Portfolio and any Transaction Document from time to time.

  • For the Sports Facilities Contract there is a formula to calculate the inflationary price increase linked to the All Items Retail Prices Index Excluding Mortgage Interest Payments (RPIX).

  • Figure 3 shows the key participants in the live music supply chain.3The real increase is calculated using RPIX (the All Items Retail Prices Index excluding Mortgage Interest Payments) as the measure of inflation.FIGURE 3 The live music supply chain Artist Manager VenueSource: CC analysis.

  • Rent increases for mobile homes are linked to the “Retail Price Index, all items excluding Mortgage Interest Payments & indirect taxes” (RPIy) for the preceding September.

  • The specified amounts per policy per annum referred to above will be as follows: Amount (£) perannumFormer Swiss Life OB Fund – Investment Type Policy40.00Former Swiss Life OB Fund – Other Policy20.00Former Swiss Life IB Fund Policy0.30 Other than in the event of major regulatory change, these specified expenses per policy will increase in subsequent years only in line with the increase in the Retail Prices Index excluding Mortgage Interest Payments (RPIX) since 30 June 2005 plus 1.40% per annum.

  • Prices for the Products are not subject to change during the Initial Term and thereafter on each anniversary of the Commencement Date, may be adjusted at JSL’s discretion by the annual movement in the latest available All Items Retail Prices Index excluding Mortgage Interest Payments published by the UK Office for National Statistics ( RPIX).


More Definitions of Mortgage Interest Payments

Mortgage Interest Payments means the lower of: (a) the amount of Executive’s monthly interest portion of the Stipulated Mortgage Amount after offsetting the value of any tax deduction that Executive would receive for such interest payments, and (b) the amount resulting from the calculation in clause (a) above, assuming that Executive’s mortgage interest rate is 4.25% per annum. The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) the termination of Executive’s employment with the Company, (B) Executive ceasing to make payments on a mortgage on his primary residence in the San Francisco Bay Area, and (C) the second anniversary of the date of Executive’s purchase of a residence in the San Francisco Bay Area. If Executive refinances or sells one San Francisco Bay Area residence and purchase another in the San Francisco Bay Area, the amount of the Mortgage
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Related to Mortgage Interest Payments

  • Interest Payments With respect to any Purchased Asset, all payments of interest, income, receipts, dividends, and any other collections and distributions received from time to time in connection with any such Purchased Asset.

  • Fixed Interest Payment Date means such Business Day, on which the fixed interest is in fact due and payable. This may fall on a Fixed Coupon Date or may shift to the appropriated Business Day – if the Fixed Coupon Date falls on a day which is not a Business Day – based on the application of the adjustment provision as set out in § 5[(4)][(5)][(6)] (Business Day Convention).

  • Interest Payment means, in respect of an interest payment on an Interest Payment Date, the amount of interest payable on the presentation and surrender of the relevant Coupon for the relevant Interest Period in accordance with Condition 4 (Interest Payments);

  • Scheduled Interest Payment means the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

  • First Interest Payment Date means the date specified in the relevant Final Terms; "Fixed Coupon Amount" has the meaning given in the relevant Final Terms;

  • Compensating Interest Payments Any payment required to be made by the Master Servicer pursuant to Section 3.13 of this Agreement to cover Prepayment Interest Shortfalls.

  • Scheduled Interest Payment Date means (a) as to any Eurodollar Loan or Eurodollar Holder Advance, the last day of the Interest Period applicable to such Eurodollar Loan or Eurodollar Holder Advance (or respecting any Eurodollar Loan or Eurodollar Holder Advance having an Interest Period of six (6) months, the three (3) month anniversary of such Interest Period), (b) as to any ABR Loan or any ABR Holder Advance, the fifteenth day of each month, unless such day is not a Business Day and in such case on the next occurring Business Day and (c) as to all Loans and Holder Advances, the date of any voluntary or involuntary payment, prepayment, return or redemption, and the Maturity Date or the Expiration Date, as the case may be.

  • Fixed Rate Interest Payment Date has the meaning set forth in Section 2.5(b)(i) hereof.

  • Compensating Interest Payment As defined in Section 6.06.

  • Interest Payment Dates shall have the meaning set forth in paragraph 1 of each Note.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • LIBOR Interest Payment Date means, with respect to a LIBOR Rate Loan, the Termination Date and the last day of each Interest Period applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period.

  • Special Interest Payment Date has the meaning ascribed to it in Section 2.11 hereof.

  • Floating Rate Interest Payment Date has the meaning set forth in Section 2.5(b)(ii) hereof.

  • Interest Payment Period means the period from and including an Interest Payment Date, or in the case of the first Interest Payment Period, the original date of issuance of the Debt Securities, to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as the case may be.

  • Extended Interest Payment Period shall have the meaning set forth in Section 4.1.

  • Interest Payment Date when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

  • Additional Interest Payment Date With respect to the Initial Securities, each Interest Payment Date.

  • Compulsory Interest Payment Date means any Interest Payment Date unless at the Assemblée Générale of the shareholders of the Issuer immediately preceding such date which was required to approve the annual accounts of the Issuer for the fiscal year ended immediately prior to such Assemblée Générale, no resolution was passed to pay a dividend on the ordinary share capital of the Issuer in respect of such previous fiscal year and

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Interest Payable means in respect of the relevant Measurement Period ending on any Measurement Date, the aggregate of:

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Interest Record Date for the interest payable on any Interest Payment Date (except a date for payment of defaulted interest) means the April 15 or October 15 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date.

  • Interest Payment Determination Date means the Interest Accrual Period End Date at the end of each Interest Accrual Period; provided that the Interest Payment Determination Date with respect to the final Interest Accrual Period will be the Rate Cut-off Date.