Examples of Payoff in a sentence
Upon the Payoff or scheduled maturity of any Mortgage Loan, the Master Servicer shall cause such final payment to be immediately deposited in the related Custodial Account for P&I or the Investment Account.
Any payment of principal on a Mortgage Loan, made by or on behalf of the related Mortgagor, other than a Scheduled Payment, a prepaid Scheduled Payment or a Payoff, which is applied to reduce the outstanding Stated Principal Balance of the Mortgage Loan.
For Mortgage Loans for which the Company has received a Payoff after the Cut-Off Date and prior to the date of execution and delivery hereof, the Company, in lieu of delivering the above documents, herewith delivers to the Trustee a certification of a Servicing Officer of the nature set forth in Section 3.10.
Options that can be exercised on or before the expiration date are called American Options while, Options that can be exercised only on the expiration date are called European Options Options Risk / Return Pay-off TableStock/ Index Options Note: The above table is for the purpose of explaining concept of options contract.
The aggregate amount of the Servicing Fee subject to retention from deposit into or withdrawal from the Certificate Account by the Servicer, in any month of distribution shall be decreased by any Compensating Interest due and owing with respect to any Loan with respect to which a Payoff has occurred in the related Prepayment Period.