Loan Limits. 8.2.1 No loan to any Participant can be made to the extent that such loan, when added to the outstanding balance of all other loans to the Participant, would exceed 50% of the vested Account balance reduced by any outstanding collateral agreement relating to same, or $50,000 less the excess (if any) of the highest outstanding loan balance during the 1-year period ending on the day before the date on which the loan will be made over the outstanding loan balance on the date on which the loan will be made, whichever is less. This limit shall apply in the aggregate to all custodial accounts or annuity contracts established under Code Section 403(b) by either the Participant or the Employer on behalf of the Participant. In applying this limit, all loans from all plans of the Employer and other members of a group of employers described in Code Sections 414(b), 414(c) and 414(m) are aggregated. An assignment or pledge of any part of the Participant’s interest in the Custodial Account shall be treated as a loan under this Section.
Loan Limits. (i) No first lien Mortgage Loan has an original principal balance that exceeds the applicable Fxxxxxx Mac loan limit (as in effect on the Closing Date);
Loan Limits. The original principal balance of each Loan Group 1 Mortgage Loan is within Freddie Mac's dollar amount limits for conforming one- to four-faxxxx Xxrtgage Loans. No Group 1 Mortgage Loan contains a first lien mortgage that, at origination, exceeded the applicable loan limits specified below. The current limits are as follows: --------------------------------------------------------------------- Number of Units Maximum Original Loan Amount of First Mortgage --------------------------------------------------------------------- Continental United Alaska, Guam, Hawaii or States or Puerto Rico Virgin Islands --------------------------------------------------------------------- 1 $417,000 $625,500 --------------------------------------------------------------------- 2 $533,850 $800,775 --------------------------------------------------------------------- 3 $645,300 $967,950 --------------------------------------------------------------------- 4 $801,950 $1,202,925 ---------------------------------------------------------------------
Loan Limits. The original principal balance of each Loan Group 1 Mortgage Loan is within Freddie Mac's dollar amount limits for conforming one- to four-faxxxx Xxrtgage Loans. No Group 1 Mortgage Loan contains a first lien mortgage that, at origination, exceeded the applicable loan limits specified below. The current limits are as follows: ------------------------------------------------------------------------------------------------------------ Number of Units Maximum Original Loan Amount of First Lien Maximum Original Loan Amount of Subordinate Mortgage Lien Mortgage ------------------------------------------------------------------------------------------------------------ Continental United Alaska, Guam, Continental United Alaska, Guam, Hawaii States or Puerto Rico Hawaii or States or Puerto Rico or Virgin Islands Virgin Islands ------------------------------------------------------------------------------------------------------------ 1 $417,000 $625,500 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------ 2 $533,850 $800,775 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------ 3 $645,300 $967,950 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------ 4 $801,950 $1,202,925 $208,500 $312,750 ------------------------------------------------------------------------------------------------------------
Loan Limits. With respect to each Group 1 Mortgage Loan, the original principal balance of each such Mortgage Loan is within Xxxxxxx Mac’s dollar amount limits for conforming one- to four-family mortgage loans.
Loan Limits. No loan to any Participant can be made to the extent that such loan when added to the outstanding balance of all other loans to the Participant would exceed the lesser of (a) $50,000 reduced by the excess (if any) of the highest outstanding balance of loans during the one year period ending on the day before the loan is made, over the outstanding balance of loans from the Plan on the date the loan is made, or (b) 1/2 the present value of the Participant's Account. Furthermore, any loan shall by its terms require that repayment (principal and interest) be amortized in level payments, not less frequently than quarterly, over a period not extending beyond five years from the date of the loan, unless such loan is used to acquire a dwelling unit which within a reasonable time will be used as the principal residence of the Participant.
Loan Limits. (a) Notwithstanding anything to the contrary contained herein, except in Agent’s determination, with the consent of all Lenders, or as otherwise provided herein, the sum of the aggregate principal amount of the Revolving Loans and the Letter of Credit Accommodations outstanding at any time shall not exceed the Borrowing Base.
Loan Limits. The obligation of the Lender to make any Loan hereunder (including the initial Loan) is further subject to the condition that the outstanding principal amount of all Loans after giving effect to such Loan shall not exceed the applicable limits set forth in Section 2.1.
Loan Limits. Subject to the terms of any Investment Arrangement, the default loan policy under Section 13.03 of the Plan allows Participants to take a loan provided all outstanding loans do not exceed 50% of the Participant’s vested Account Balance. To override the default loan policy to allow loans up to $10,000, even if greater than 50% of the Participant’s vested Account Balance, check this AA §B-4. 🗹 A Participant may take a loan equal to the greater of $10,000 or 50% of the Participant's vested Account Balance. [Note: If this AA §B-4 is checked, the Participant may be required to provide adequate security as required under Section 13.06 of the Plan.]
Loan Limits. The minimum loan amount is $7,500. An applicant for a loan of $80,000 or greater may be subject to additional credit-worthiness review.
