Variable Rate Mortgage Loans definition

Variable Rate Mortgage Loans means those Mortgage Loans within the Mortgage Portfolio from time to time which are subject to a rate of interest which at any time may be varied in accordance with the relevant Mortgage Conditions (and shall, for the avoidance of doubt, exclude Fixed Rate Mortgage Loans and Flexible Mortgage Loans).
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Variable Rate Mortgage Loans means those Mortgage Loans to the extent that and for such period that their Mortgage Loan Conditions provide that they are subject to a rate of interest which may at any time be varied in accordance with the relevant Mortgage Loan Conditions (and shall, for the avoidance of doubt, exclude Mortgage Loans during the period that are Fixed Rate Mortgage Loans or Tracker Rate Mortgage Loans).
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Examples of Variable Rate Mortgage Loans in a sentence

  • Standard Variable Rate Mortgage Loans are convertible to a Fixed Rate Loan product at the borrower’s request.Fixed Rate Loan ME Bank also provides Mortgage Loans which bear a fixed rate of interest for up to a maximum period of five years.

  • Standard Variable Rate Mortgage Loans are convertible to a Fixed Rate Loan product at the borrower’s request.Fixed Rate Loan The Pool of Approved Mortgage Loans also includes Mortgage Loans that bear a fixed rate of interest for up to a maximum period of five years.

  • Standard Variable Rate Mortgage Loans are convertible to a Fixed Rate Loan product at the borrower’s request.Fixed Rate Loan ME also provides Mortgage Loans which bear a fixed rate of interest for up to a maximum period of five years.

  • The Issuer, the Legal Title Holder and the Servicer have further undertaken to only increase the applicable interest rate of the Variable Rate Mortgage Loans if there is an increase in the ECB Rate.

  • Interest rate risk The Mortgage Portfolio is a mixture of Fixed Rate Mortgage Loans, Variable Rate Mortgage Loans and Tracker Mortgage Loans.

  • This partially mitigates the risk of amounts received in respect of Variable Rate Mortgage Loans not being sufficient to make payments of interest on the Notes.

  • Deferred Fees shall be credited to the Participant's Account on the dates the Fees would have been paid to the Participant if there had been no valid deferral election.

  • The Tracker Mortgage Loans in the Mortgage Portfolio pay interest based on the Bank of England base rate and the Standard Variable Rate Mortgage Loans in the Mortgage Portfolio pay a variable rate of interest set by the Servicer on behalf of the Legal Title Holder from time to time.

  • The Mortgage Portfolio is comprised of a combination of Fixed Rate Mortgage Loans, Variable Rate Mortgage Loans and Tracker Rate Mortgage Loans.

  • Aggregate Scheduled Principal Balance of Mortgage Loans: Approximately $ $648,116, 994 (as of the Cut Off Date), including approximately $129,798,241.23 of fixed-rate Mortgage Loans and approximately $518,393,382.67 of Variable Rate Mortgage Loans.

Related to Variable Rate Mortgage Loans

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.48%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Adjustable Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Variable Rate Indebtedness means any portion of indebtedness or other payment obligations, the interest rate on which is not established at the time of incurrence and has not at some subsequent date been established at a single numerical rate for the entire term thereof, excluding Paired Obligations.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: Rating Base Rate Spread LIBO Rate Spread A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.805 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.915 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.025 % 1.025 % BBB by Standard & Poor’s Baa2 by Moody’s 0.125 % 1.125 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.300 % 1.300 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.300% as to any Base Rate Advance and 1.300% as to any LIBO Rate Advance.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Convertible Mortgage Loan Any individual Adjustable Rate Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the Mortgagor is permitted to convert the Adjustable Rate Mortgage Loan to a Fixed Rate Mortgage Loan in accordance with the terms of the related Mortgage Note.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Mortgage Loan Rate means, as of any date of determination, the weighted average of the Note A Rate and the Note B Rate.

  • Variable Rate Transaction shall have the meaning ascribed to such term in Section 4.12(b).

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Base Rate Term Loan means any portion of the Term Loan during any period in which it bears interest based on the Base Rate.

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Floating Rate Margin means 7.50 per cent. per annum.