Zero Interest Loan definition

Zero Interest Loan means a loan bearing a zero percent rate of interest for the duration of the loan.
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Zero Interest Loan. “Loan” refers to an advance by the Insurer against the value of the Contract which involves the sale of underlying assets of the Portfolio, which is payable by the Contract Holder at any time prior to the end of the five (5) year Restriction Period and where no interest is charged on the outstanding loan balance and no investment returns are earned on the underlying assets that have been sold.
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Zero Interest Loan. / “Loan” means an advance by the Insurer against the value of the Contract which involves the sale of underlying assets of the Portfolio, which is payable by the Contract Holder at any time prior to the end of the five (5) year Restriction Period and where no interest is charged on the outstanding loan balance and no investment returns are earned on the underlying assets that have been sold.
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Related to Zero Interest Loan

  • Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.

  • Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Last Out Loan means, with respect to any Bank Loan that is a term loan structured in a first out tranche and a last out tranche (with the first out tranche entitled to a lower interest rate but priority with respect to payments), that portion of such Bank Loan that is the last out tranche; provided that:

  • Simple Interest Mortgage Loan Those simple interest loans as noted on the Mortgage Loan Schedule under the data field designated “DSI.”