Substituted Loan definition

Substituted Loan has the meaning specified in specified in Section 2 of each of the Purchase Agreements or the Contribution Agreement, as applicable.
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Examples of Substituted Loan in a sentence

  • The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related ▇▇▇▇ of Sale accruing up to but not including the related Subsequent Cutoff Date.

  • The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related B▇▇▇ of Sale accruing up to but not including the related Subsequent Cutoff Date.

  • Red Wolf Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date, as applicable, and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related ▇▇▇▇ of Sale accruing up to but not including the related Subsequent Cutoff Date.

  • The Seller (and the Interim Eligible Lender Trustee for the benefit of the Seller) shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related ▇▇▇▇ of Sale accruing up to but not including the related Subsequent Cutoff Date.

  • The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date, as applicable, and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related ▇▇▇▇ of Sale accruing up to but not including the date of the related ▇▇▇▇ of Sale.

  • Each Loan sold hereunder and each pool of Purchased Loans sold by a Seller in a Transaction hereunder conforms to the applicable representations and warranties in Exhibit II of this Agreement in all material respects and each Eligible Loan delivered hereunder as an Additional Loan or Substituted Loan conforms to those representations and warranties in all material respects.

  • In connection with any proposed substitution of the Loan Note Issuer or, as the case may be, any previous Substituted Loan Note Issuer, the Security Trustee, may, without the consent of the Loan Noteholders, agree to a change of the law from time to time governing the Loan Notes and/or this Deed and/or the Agency Agreement provided that such change of law, in the opinion of the Security Trustee, would not be materially prejudicial to the interests of the Loan Noteholders.

  • The Depositor and the Trust shall use their best efforts to perform promptly their respective obligations pursuant to the related Subsequent Contribution Agreement with respect to each Substituted Loan.

  • WEF and the Depositor shall use their best efforts to perform promptly their respective obligations pursuant to the related Subsequent Transfer Agreement with respect to each Substituted Loan.

  • VG Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date, as applicable, and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related ▇▇▇▇ of Sale accruing up to but not including the date of the related ▇▇▇▇ of Sale.

Related to Substituted Loan

  • Substituted Loans means the Eligible Loans evidenced by a Note or Notes substituted by the Seller, pursuant to the terms of Section 6(B) hereof, from time to time as evidenced by an Additional Sale Agreement and related documentation, together with any guarantees and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments. For all purposes hereunder, except with respect to Purchase Price or as otherwise set forth herein, Substituted Loans shall be treated as Additional Loans.

  • Substitute Loan As defined in Section 2.2.

  • Permitted Loan means any bona fide loan or other extension of credit entered into by a Series A Preferred Unitholder or any of its Affiliates with one or more financial institutions and secured by a pledge, hypothecation or other grant of security interest in Series A Preferred Units, Series A Conversion Units, Common Units, or other assets.

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.

  • Additional Loan means the Eligible Loans evidenced by a Note or Notes sold from time to time during the Supplemental Purchase Period pursuant to an Additional Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.