Open Loan definition

Open Loan means a Loan without a Maturity Date where Borrower has a Prepayment Option and Lender has a Call Option.
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Open Loan means a loan covered by the Redress Program that has not been paid off, refinanced, charged off, or discharged in bankruptcy, and that is not a Sold Loan. Whether a loan is an Open Loan for redress purposes shall be determined by the Redress Program Administrator at the time that redress is to
Sample 1
Open Loan. The Member may at any time reimburse the loan before maturity, in part or in full, without penalty. A prepayment shall not release the Member from its obligation to continue making the payments herein specified.
Sample 1

Examples of Open Loan in a sentence

  • Open Loans Rate means the variable interest rate applicable to Open Loan Accounts with reference to one- month EURIBOR for euro deposits plus a margin.

  • Department of Energy, Loan Programs Office, Keeping America Informed About Open Loan Guarantee Solicitations, November 20, 2014, http://energy.gov/lpo/articles/keeping-america-informed-about-open-loan-guarantee- (continued...) Since our March 2013 report, DOE has received one application seeking approximately $200 million DOE recently stated that it has begun new outreach efforts to potential applicantsthat will increase awareness and interest in the program and lead to additional applications in 2014.

  • Each Class Member with an Open Loan must agree to cancel his or her credit insurance on the Open Loan as a condition for receipt of redress.

  • The Product Guidelines are a combination of the guidelines followed by the Servicer in connection with the servicing and administration of the Open Loan Accounts and the servicing and administration of the Credit Card Accounts.

  • If the amount of any Class Member’s share of the Redress Sum for an Open Loan exceeds the outstanding balance of his or her Open Loan, The Associates Parties shall issue a check to the Class Member for the excess amount.

  • The Associates Parties shall use reasonable best efforts to provide redress within thirty (30) calendar days, but in no event more than seventy-five (75) calendar days, of receiving the Redress Program Administrator's instructions for the provision of redress.2. Redress to Class Members with Open Loans shall be accomplished through a reduction in the outstanding balance of each Open Loan in the amount of the Class Member’s share of the Redress Sum for that Open Loan.

  • A scrutiny of such 100 Open Loan cases indicated that some amount of funds advanced by RHFL have returned back to RHFL through circular transactions and also substantial amounts of such loans have been used by the borrowing entities for repayment of existing loans availed by them earlier from RHFL which means, such huge amounts of loans have been used by the borrowing entities for ever- greening of earlier loans.

  • X Xxxx xxxx shall be from two to seven days as mutually agreed by the parties; a Closed Term loan shall terminate on the last Banking Day of the term, unless extended or converted into an Open Loan by mutual agreement of the parties and confirmed by written notice of MERRILL LYNCH to the Trust.

  • If Lender has not provided to Borrower a Digital Currency Address for receiving the repayment of a Loan by Close of Business on the day prior to the earlier of the Maturity Date, the Recall Delivery Day (defined below), or the Redelivery Day (defined below), then such Loan will become an Open Loan on said Maturity Date or Redelivery Day, whichever applicable, and no additional Loan Fees shall be accrued after the Maturity Date or the Redelivery Day.

  • Six respondents (32%) saw side effects as a potential risk, including heart attack or stroke.


More Definitions of Open Loan

Open Loan. The Member may at any time prepay the loan in part or in full, without penalty. A prepayment shall not release the Member from its obligation to continue making the payments herein specified.
Sample 1

Related to Open 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.

  • PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

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

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • 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.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • 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.

  • Term Loan as defined in Section 2.1.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • Wet Loan means a Purchased Loan originated and owned by the Seller immediately prior to being purchased by the Buyers:

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.