Offset Loan definition

Offset Loan means a Loan which permits the Borrower to offset the amount of monies standing to the credit of specified savings account(s) against the current balance of their Loan for the purposes of reducing the interest bearing balance of their Loan; Option Date means the date that the Underpayment Option or Tested Underpayment Option, as applicable, is made;
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Offset Loan has the meaning assigned that term in the Management Services Agreement.
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Offset Loan means a Loan which permits the Borrower to offset the amount of monies standing to the credit of specified savings account(s) against the current balance of their Loan for the purposes of reducing the interest bearing balance of their Loan; One-Month Sterling LIBOR means the London Interbank Offered Rate for one-month Sterling deposits as displayed on Reuters Screen page LIBOR01; Option Date means the date that the Underpayment Option or Tested Underpayment Option, as applicable, is made; Ordinary Resolution has the meaning given to it in paragraph 1 of Schedule 4 to the Trust Deed; Original LTV Ratio means the ratio calculated by calculated by dividing the Total Debt Advanced by the Original Valuation;
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Examples of Offset Loan in a sentence

  • In consideration of the Offset Loan Amount being deducted from the Gross Amount, the Outstanding Loans shall be modified to reflect the payment of the Offset Loan Amount and Steu▇▇▇▇▇▇ ▇▇▇ the Company shall enter into appropriate documentation (the "Loan Documentation") to evidence the reduction of the Outstanding Loans by the Offset Loan Amount.

  • It is agreed that the Gross Amount shall be reduced by $296,456.70 (the "Offset Loan Amount"), which Offset Loan Amount represents all accrued interest outstanding on the Outstanding Loans as of the date hereof in the amount of $10,951.70 plus $285,505.00 of the outstanding principal balance on the Outstanding Loans.


More Definitions of Offset Loan

Offset Loan means a Loan which permits the Borrower to offset the amount of monies standing to the credit of specified savings account(s) against the current balance of their Loan for the purposes of reducing the interest-bearing balance of their Loan; Option Date means the date that the Underpayment Option or Tested Underpayment Option, as applicable, is made; Optional Redemption Date has the meaning given to it in Condition 7.3(a) (Optional Redemption of the Class A Notes in Full); Ordinary Resolution has the meaning given to it in paragraph 1 of Schedule 4 (Provisions for Meetings of Noteholders) to the Trust Deed;
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Related to Offset Loan

  • ▇▇▇▇▇▇▇▇ Loan means a Subsidized ▇▇▇▇▇▇▇▇ Loan or an Unsubsidized ▇▇▇▇▇▇▇▇ Loan.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.