Flexible Loan definition

Flexible Loan means a type of loan product that typically incorporates features that give the borrower options (which may be subject to certain conditions) to, among other things, make further drawings on the Mortgage Account and/or overpay or underpay interest and principal in a given month and/or take a Payment Holiday and, for the avoidance of doubt, includes Flexible Plus Loans; Flexible Loan Conditions means the Mortgage Conditions applicable to any Flexible Loan;
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Flexible Loan means a Loan where the Borrower has exercisable redraw rights under the Loan.
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Flexible Loan means a type of Loan product that typically incorporates features that give the Borrower options (which may be subject to certain conditions) to, amongst other things, make further drawings on the mortgage loan account and/or to overpay or underpay interest and principal in a given month and/or to take a payment holiday.
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Examples of Flexible Loan in a sentence

  • These set-off claims will constitute transaction set-off as described in the immediately preceding risk factor.The amount of any such claim in respect of a Flexible Loan Drawing will, in many cases, be the cost to the Borrower of finding an alternative source of funds (although, in the case of a Flexible Loan Drawing, in respect of a Scottish Loan, it is possible, though regarded as unlikely, that the Borrower's rights of set-off could extend to the full amount of the additional drawing).

  • The loan will have a 15-year term, including a grace period of 3 years; an interest rate determined in accordance with ADB’s Flexible Loan Product; a commitment charge of 0.15% per year; and such other terms and conditions set forth in the draft loan agreement.

  • The activities performed this period were solely focused on the review of items/documents that were previously submitted for all remaining applicants and the final issuance of grant payments to awardees.

  • After considering the alternative financing products, the Borrower has chosen an IBRD Flexible Loan (IFL) with Variable Spread and automatic rate fixing of new disbursements.

  • Plaintiff abruptly moved to the second lane, passed Lewis, cut in front of him nearly hitting his van, and sped off down the road.

  • Table 1 IBRD Flexible Loan (IFL) (Fixed or Variable Spread)* Interest Rate Caps and Collars are not available for FSCLs as the rate of interest is fixed for the life of the loan.

  • The investment loan component will have a 23- year term, including a grace period of 6 years, an interest rate determined in accordance with ADB’s Flexible Loan Product; a commitment charge of 0.15% per year, and such other terms and conditions set forth in the draft loan and project agreements.

  • The loan will have a 25-year term, including a grace period of 5 years; an interest rate determined in accordance with ADB’s Flexible Loan Product; a commitment charge of 0.15% per year; and such other terms and conditions set forth in the draft loan and project agreements.

  • Flexible Loan Current Balance Current Balance Number ofLoans Number ofLoans (£) (%) (%)Flexible 44,725,107 23.61 242 29.55Not Flexible 144,725,482 76.39 577 70.45Total:...........................................................

  • The financing terms for countries eligible under the Scale-Up Window (SUW) are identical to the IBRD Flexible Loan terms; the currencies available are USD, EUR, GBP, and JPY.


More Definitions of Flexible Loan

Flexible Loan means a type of loan product that typically incorporates features that give the borrower options (which may be subject to certain conditions) to, among other things, make further drawings on the Mortgage Account and/or overpay or underpay interest and principal in a given month and/or take a Payment Holiday and, for the avoidance of doubt, includes Flexible Plus Loans; Flexible Loan Conditions means the Mortgage Conditions applicable to any Flexible Loan; Flexible Loan Drawing means any further drawing of monies made by a Borrower under a Flexible Loan other than the Initial Advance (but including any Capitalised Interest);
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Flexible Loan means a Mortgage Loan where the Borrower has exercisable redraw rights under the Mortgage Loan.
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Related to Flexible Loan

  • Eligible Loan means a Loan offered for sale or substituted by Seller under a Sale Agreement which as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, is current or not more past due than permitted under such Sale Agreement in payment of principal or interest and which meets the following criteria as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the effective date of the related Xxxx of Sale, in the case of any Additional Loan or Substituted Loan:

  • Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

  • student loan means a loan towards a student's maintenance pursuant to any regulations made under section 22 of the Teaching and Higher Education Act 1998, section 73 of the Education (Scotland) Act 1980 or Article 3 of the Education (Student Support) (Northern Ireland) Order 1998 and includes, in Scotland, a young student's bursary paid under regulation 4(1)(c) of the Students’ Allowances (Scotland) Regulations 2007.

  • Ineligible Loan Each Loan other than an Eligible Loan.

  • Forgivable loan means a loan made to an eligible resident pursuant to the requirements of this chapter.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Whole Loan As defined in the Introductory Statement.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • Mortgage Loan shall have the meaning assigned to such term in the recitals.

  • Purchased Student Loan means a Financed Student Loan purchased as of the close of business on the last day of a Monthly Collection Period or Collection Period, as applicable, by the Servicer pursuant to Section 3.05 of the Servicing Agreement or repurchased by the Seller pursuant to Section 3.02 of the Loan Sale Agreement.

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans sold by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Mortgage Loan Package Each pool of Mortgage Loans, which shall be purchased by the Purchaser from the Seller from time to time on each Closing Date.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Subsidy means the difference between the amount of periodic

  • PPP Loan has the meaning set forth in Section 3.28.

  • Commercial loan means a loan that is not made primarily for

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Specially Serviced Mortgage Loan means the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing Transfer Event.