Reference Loans definition

Reference Loans means, Three, Five and Seven Year Hybrid Mortgage Loans as defined in the Transfer and Servicing Agreement

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Reference Loans means all Committed Loans bearing interest at a rate based upon the Reference Rate.

Reference Loans. The Mortgage Loans (as defined in the Pooling and Servicing Agreement) Termination Date: May 25, 2012, subject to adjustment in accordance with the Business Day Convention Fixed Rate Payer: Counterparty Fixed Rate Payer Period End Dates: The 25th calendar day of each month during the Term of this Transaction, commencing June 25, 2006 and ending on the Termination Date, with No Adjustment; provided that for purposes of determining the final Fixed Rate Payer Period End Date, the Termination Date will not be adjusted in accordance with the Business Day Convention.. Fixed Rate Payer Payment Date: Early Payment shall be applicable. For each Calculation Period, the Fixed Rate Payer Payment Date shall be the first Business Day prior to the related Fixed Rate Payer Period End Date. Fixed Rate: 5.5750% Fixed Amount: To be determined in accordance with the Following formula: 250 * Fixed Rate * Notional Amount * Fixed Rate Day Count Fraction. Fixed Rate Day Count Fraction: 30/360 Floating Rate Payer: BSFP Floating Rate Payer Period End Dates: The 25th of each month in each year from (and including) June 25, 2006 to (and including) the Termination Date, subject to adjustment in accordance with the Business Day Convention. Floating Rate Payer Payment Date(s): Early Payment shall be applicable. For each Calculation Period, the Floating Rate Payer Payment Date shall be the first Business Day prior to the related Floating Rate Payer Period End Date. Floating Rate Option: USD-LIBOR-BBA Floating Amount: To be determined in accordance with the Following formula: 250 * Floating Rate Option * Notional Amount * Floating Rate Day Count Fraction. Spread: None Designated Maturity: One month Floating Rate Day Count Fraction: Actual/360 Reset Dates: The first day of each Calculation Period. Compounding: Inapplicable Business Days: New York and Santa A▇▇ Business Day Convention: Following

Examples of Reference Loans in a sentence

• From time to time the Company may request (each such request, a “Purchase Request”, and each such requested purchase, a “Purchase”) that the Financing Provider acquire one or more Eligible Reference Loans and sell such Eligible Reference Loans to the Company on the terms set forth herein (each such Eligible Reference Loan subject to a Purchase Request, a “Portfolio Investment” until the Removal Date in respect thereof).

• On or prior to the first day of each Calculation Period, Counterparty shall provide or make available to BSFP a statement indicating the aggregate outstanding principal balance of the Reference Loans as of the first day of the month in which such Calculation Period begins.

• Any overdue principal of and, to the extent permitted by law, overdue interest on any Absolute Rate Bid Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 1% plus the higher of (i) the Absolute Rate for such Loan and (ii) the rate applicable to Reference Loans for such day.

• The total number of Reference Loans and LIBOR Loans outstanding to any Bank at any time shall not exceed 10.

• In the event that a Borrower does not request a new borrowing prior to the last day of any Interest Period and does not otherwise provide funds to pay Loans maturing on such day, the Borrower shall be deemed to have given the U.S. Dollar Administrative Agent a Notice of Borrowing requesting Reference Loans on such day in the principal amount of the Loans coming due on such day.

• Unless the Company notifies the Administrative Agent of a conversion in accordance with Section 2.6 after receiving a Rate Notice from one of the Reference Banks pursuant to this subsection, the Company shall, concurrently with repaying the LIBOR Loans pursuant to this subsection, be deemed to have requested and received Reference Loans in an equal principal amount from each Bank.

• Unless the Company notifies such Bank and the Administrative Agent to the contrary within two (2) Business Days after receiving a notice from such Bank pursuant to this subsection, the Company shall, concurrently with repaying the LIBOR Loans pursuant to this subsection, be deemed to have requested and received Reference Loans in an equal principal amount from such Bank.

• Whenever any payment of Facility Fees or principal of, or interest on, any Reference Loans or CD Loans shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next succeeding Business Day.

• Except as provided in Section 7.2, interest on the Reference Loans shall be payable quarterly, in arrears, on the first Business Day of each February, May, August and November, commencing in February, 1996, and on the date such Reference Loans are paid in full and not subject to a further reborrowing under Section 2.1 or 2.

• If circumstances subsequently change so that Foothill shall determine that it is no longer so affected, Foothill will promptly notify Borrower, and upon receipt of such notice, the obligations of Foothill to make or continue Eurodollar Rate Loans or to convert Reference Loans into Eurodollar Rate Loans shall be reinstated.

More Definitions of Reference Loans

Reference Loans means all Revolving Credit Loans and bearing interest at a rate equal to the Reference Rate plus the Applicable Margin.