Variable Rate Loan definition

Variable Rate Loan means any Loan when and to the extent the interest rate for such Loan is determined in relation to the Variable Rate.

Variable Rate Loan means a manufactured home transac- tion or a loan as defined in s. 138.052 (1) (b), the terms of which permits the interest rate to be increased or decreased.

Variable Rate Loan means a mobile home transaction or a loan as defined in s. 138.052 (1) (b), the terms of which permits the interest rate to be increased or decreased.

Examples of Variable Rate Loan in a sentence

• At the end of the period, generally the Loans convert to a Variable Rate Loan.

• If you have a Variable Rate Loan, interest will be applied at the rate in existence at the time of the making of the first advance, and will be adjusted thereafter from time to time (both before and after the Interest Adjustment Date) at the from time to time existing Current Mortgage Rate.

• If you have a Capped Variable Rate Loan or a Capped Lock and Roll Loan, interest will be calculated, commencing with the first advance, at the lesser of the Cap Rate and the Interest Rate in existence at the time of the making of the first advance, and thereafter, the Interest Rate will be adjusted in accordance with the applicable interest rate provisions contained in paragraph 2(a) of Part III of these Terms.

• Variable Rate Ratio means, in respect of a Calculation Period, the Relevant Variable Rate Loan Balance divided by the Loan Balance.

• Borrowers may fix the interest rate on their Mortgage Loans for a period of 1, 2, 3 or 5 years, converting automatically at the end of the agreed term to a Variable Rate Loan.

More Definitions of Variable Rate Loan

Variable Rate Loan means a home loan where the rate of interest charged may

Variable Rate Loan means an ABR Loan, a LIBOR Loan or an Overnight Loan.

Variable Rate Loan means any Loan bearing interest based on the Daily LIBOR Rate.

Variable Rate Loan means Loans which bear interest at a variable rate, as calculated by the Administrator.

Variable Rate Loan means the $7,500,000 revolving loan from the Bank in favor of the Borrower, as evidenced by the Variable Rate Promissory Note and the Loan Agreement, each entered into as of December 3, 1997. SECTION TWO ISSUANCE OF LETTER OF CREDIT

Variable Rate Loan. You promise to pay the Credit Union plus interest on the unpaid principal balance at a variable rate. The initial rate is equal to the annual percentage rate shown on page 1. You agree to make payments in the amount shown as “amount of payments” on page 1 according to the schedule set forth under “when payments are due” on page 1 until the note is paid in full. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report. The rest of the terms and conditions of the Note continue below. You also pledge your accounts in the Credit Union in accordance with the “Pledge of Savings” above. However, if payments on this loan are up-to-date, Borrower(s) can withdraw shares and/or deposits in excess of Cross-Collateral: Collateral pledged as security for other loans you have now or in the future with the Credit Union will also be security for this agreement. The security interest language contained in those loans, and specific description of property pledged as collateral are incorporated herein as if set out in full. In addition, all other loans that you have with the Credit Union are also secured with any collateral pledged to secure this loan. These cross-collateral provisions do not apply to your principal dwelling or household goods pledged as security for other loans. NOTE (Continued) Sample

Variable Rate Loan means any portion of the Loan bearing interest at the Variable Rate. The following terms are defined in the Sections of the Agreement referenced below: Term Section ---- -------