Examples of Revolving Debt in a sentence
Revolving Debt: If the account shown on the credit report has an outstanding balance and is not reporting a minimum monthly payment, the monthly payment for qualifying purposes must be calculated at the greater of 5% of the balance or$10.
The Amended Security Agreement for the First Lien Term Loan and the Amended and Restated Pledge and Security Agreement for the Amended Revolver Agreement state that they secure obligations under the Revolving Debt and First Lien Term Loan by granting first priority liens on, among other things, the property and assets of all of the Debtors, whether real or personal, tangible or intangible, and wherever located.
Accounts with a term of less than 10 months that require payments so large as to cause a severe impact on the family’s resources for any period of time, also must be included in the DTI.• Revolving Debt: The monthly payment per the credit report must be included in the DTI calculation regardless of the account balance.
Pending the final application of any such Net Proceeds, the Company may temporarily reduce Senior Revolving Debt or otherwise invest such Net Proceeds in any manner that is not prohibited by the terms hereof.
Revolving Debt ▪ All revolving debt is included for qualifying regardless of number of payments remaining.