True-Up Loans definition

True-Up Loans has the meaning given such term in the recitals hereto.
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True-Up Loans shall have the meaning set for in the second paragraph of the agreements herein.
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True-Up Loans means Pending Rescission Loans that will be rescinded, and/or Recently Rescinded Loans that will remain rescinded, to compensate MGIC for the Reimbursement Amount pursuant to Section 7(b)(i), listed on Schedule 7 as of the Signing Date, as updated pursuant to Section 3(a), and as finalized with respect to the Initial Implementation Date pursuant to Section 3(b). Only Class 2 GSE Loans may be designated as True-Up Loans.
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Examples of True-Up Loans in a sentence

  • The loans and/or adjustments described in this paragraph are referred to herein as the "True-Up Loans".

  • If (x) the aggregate amount of True-Up Loans resulting from the application of Section 7(a) and the reduction of the Settlement Payment pursuant to Section 7(b) with respect to any Trust/Other is less than the Reimbursement Amount applicable to such Trust/Other, then (y) the corresponding amount of the CHL Escrow Amount shall be disbursed to MGIC pursuant to Section 8(a)(i)(B).

  • If (x) the aggregate amount of True-Up Loans resulting from the application of Section 7(b)(i) and the reduction of the Settlement Payment pursuant to Section 7(b)(ii) with respect to the Class 2 GSE Loans is less than the Reimbursement Amount, then (y) Bank of America shall pay to MGIC the aggregate amount of such difference, in cash via wire transfer within ten (10) days of the disbursements from escrow pursuant to Section 8(a) in connection with the Initial Implementation Date.

  • MGIC shall rescind coverage on the True-Up Loans; provided that MGIC may make a partial Claim payment with respect to one or more True-Up Loans in any Category if necessary to make the amount of True-Up Loans in any Category equal the Reimbursement Amount with respect to such Category.

  • MGIC shall rescind coverage on the True-Up Loans; provided that MGIC may make a partial Claim payment with respect to one or more True-Up Loans if necessary to make the amount of True-Up Loans equal the Reimbursement Amount.